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I want to start exporting data to a text format from my web based system to a format that can be imported into Quickbooks, what is the best text format for doing this?

+3  A: 

The IIF format is what you are looking for. Be aware, though, that it isn't very easy to work with in a generic way.

You might want to look at integrating with QuickBooks web service instead, and perhaps promoting your site through Intuit's Workspace

Yishai
+3  A: 

The IIF file format has been deprecated by Intuit, and has all sorts of problems associated with it (it doesn't update certain accounting information, bypasses data logic rules, etc.).

You'd be better off building an automated solution using the QuickBooks SDK or using the qbXML format to export XML files which can be exported via a simple SDK application into QuickBooks.

You should check out the QuickBooks SDK, Intuit Developer Forums, and my QuickBooks wiki for more details.

Keith Palmer