It won’t work. Import of BILLPMT transactions broke in QB 2006 and Intuit has never fixed it.
Instead, import these as CHECK type transactions, which have the same accounting impact.
Resolution for 'BillPMT issue: 'Billpayment import iif' available: Yes.
The BillPMT issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the BillPMT issue yourself by looking for a resolution described in the article. If it is a complex BillPMT issue or you are unable to solve the issue, you may contact us by clicking here or by using other BillPMT support options.
For more information about resolving issues related to BillPMT in Quickbooks/QBO or to get support for the issue 'Billpayment import iif', click the link below: