diff --git a/src/QIFIO.c b/src/QIFIO.c
index 003efec8ce..a4e0ccd5e8 100644
--- a/src/QIFIO.c
+++ b/src/QIFIO.c
@@ -46,10 +46,6 @@
 #define WFLAGS  (O_WRONLY | O_CREAT | O_TRUNC)
 #define RFLAGS  O_RDONLY
 
-#ifdef DEBUG
-#undef DEBUG
-#endif
-#define DEBUG printf
 
 /********************************************************************\
  * xaccReadQIFLine                                                  * 
@@ -193,64 +189,6 @@ char * xaccReadQIFCategory (int fd, Account * acc)
    return qifline;
 }
 
-/********************************************************************\
- * read a sequence of categories, inserting them into 
- * the indicated group
-\********************************************************************/
-
-char * xaccReadQIFCatList (int fd, AccountGroup *grp)
-{
-   char * qifline;
-   Account *acc;
-   char *str, *tok;
-
-   if (!grp) return 0x0;
-   do { 
-      acc = mallocAccount();
-      qifline = xaccReadQIFCategory (fd, acc);
-      if ('!' == qifline [0]) break;
-
-      if (-1 == acc->type) {  /* free up malloced data if unknown account type */
-         freeAccount(acc); 
-         continue;
-      }
-      if (!qifline) {  /* free up malloced data if the read bombed. */
-         freeAccount(acc); 
-         continue;
-      }
-
-      /* check to see if this is a sub-account.
-       * Sub-accounts will have a colon in the name */
-      str = acc->accountName;
-      tok = strchr (str, ':');
-      if (tok) {
-         Account *parent;
-
-         /* find the parent account, and parent to it */
-         *tok = 0x0;
-         parent = xaccGetAccountFromName (grp, str);
-         *tok = ':';
-
-         if (parent) {
-            xaccInsertSubAccount( parent, acc );
-            /* trim off the parent account name ... */
-            /* tok += sizeof(char);  leave behind the colon ... */
-            str = XtNewString (tok);
-            XtFree (acc->accountName);
-            acc->accountName = str;
-         } else {
-            insertAccount( grp, acc );
-         }
-      } else {
-         insertAccount( grp, acc );
-      }
-
-   } while (qifline);
-
-
-   return qifline;
-}
-
 /********************************************************************\
  * xaccReadQIFAccount                                               * 
  *   reads in account name, description, etc.                       *
@@ -272,7 +210,6 @@ char * xaccReadQIFAccount (int fd, Account * acc)
    acc -> description = 0x0;  /* string */
 
    qifline = xaccReadQIFLine (fd);
-
    if (!qifline) return NULL;
    if ('!' == qifline [0]) return qifline;
 
@@ -289,8 +226,14 @@ char * xaccReadQIFAccount (int fd, Account * acc)
         if (!strcmp (&qifline[1], "Bank\r\n")) {
            acc -> type = BANK;
         } else
+        if (!strcmp (&qifline[1], "Cash\r\n")) {
+           acc -> type = CASH;
+        } else
         if (!strcmp (&qifline[1], "Invst\r\n")) {
            acc -> type = STOCK;
+        } else
+        if (!strcmp (&qifline[1], "Oth A\r\n")) {
+           acc -> type = ASSET;
         } else {
            printf ("QIF Parse: Unsupported account type %s \n", &qifline[1]);
            acc -> type = -1;            /* hack alert -- */
@@ -299,7 +242,6 @@ char * xaccReadQIFAccount (int fd, Account * acc)
 
      /* check for end-of-transaction marker */
      if (!strcmp (qifline, "^^\r\n")) {
-        qifline = xaccReadQIFLine (fd);
         break;
      } else
      if ('!' == qifline [0]) break;
@@ -312,6 +254,72 @@ char * xaccReadQIFAccount (int fd, Account * acc)
    return qifline;
 }
 
+/********************************************************************\
+ * read a sequence of accounts or categories, inserting them into 
+ * the indicated group
+\********************************************************************/
+
+char * xaccReadQIFAccList (int fd, AccountGroup *grp, int cat)
+{
+   char * qifline;
+   Account *acc;
+   char *str, *tok;
+
+   if (!grp) return 0x0;
+   do { 
+      acc = mallocAccount();
+      if (cat) { 
+         qifline = xaccReadQIFCategory (fd, acc);
+      } else {
+         qifline = xaccReadQIFAccount (fd, acc);
+      }
+      if ('!' == qifline [0]) break;
+
+      if (-1 == acc->type) {  /* free up malloced data if unknown account type */
+         freeAccount(acc); 
+         continue;
+      }
+      if (!qifline) {  /* free up malloced data if the read bombed. */
+         freeAccount(acc); 
+         continue;
+      }
+
+      /* check to see if this is a sub-account.
+       * Sub-accounts will have a colon in the name */
+      str = acc->accountName;
+      tok = strchr (str, ':');
+      if (tok) {
+         Account *parent;
+
+         /* find the parent account, and parent to it */
+         *tok = 0x0;
+         parent = xaccGetAccountFromName (grp, str);
+         *tok = ':';
+
+         if (parent) {
+            Account *preexisting;
+
+            /* trim off the parent account name ... */
+            /* tok += sizeof(char);  leave behind the colon ... */
+            str = XtNewString (tok);
+            XtFree (acc->accountName);
+            acc->accountName = str;
+
+            xaccInsertSubAccount( parent, acc );
+         } else {
+            /* we should never get here if the qif file is OK */
+            insertAccount( grp, acc );  
+         }
+      } else {
+         insertAccount( grp, acc );
+      }
+
+   } while (qifline);
+
+
+   return qifline;
+}
+
 /********************************************************************\
  * xaccParseQIFDate                                                 * 
  *   parses date of the form MM/DD/YY                               *
@@ -828,7 +836,7 @@ xaccReadQIFData( char *datafile )
 
      if (!strcmp (qifline, "!Type:Cat\r\n")) {
         DEBUG ("got category\n");
-        qifline = xaccReadQIFCatList (fd, grp);
+        qifline = xaccReadQIFAccList (fd, grp, 1);
         continue;
      } else
 
@@ -875,12 +883,13 @@ xaccReadQIFData( char *datafile )
            /* loop and read all of the account names and descriptions */
            /* no actual dollar data is expected to be read here ... */
            while (qifline) {
-              qifline = xaccReadQIFDiscard (fd);
+              qifline = xaccReadQIFAccList (fd, grp, 0);
               if (!qifline) break;
               if ('!' == qifline[0]) break;
            }
         } else {
            /* read account name, followed by dollar data ... */
+           Account *preexisting;
            Account *acc   = mallocAccount();
            DEBUG ("got account\n");
            qifline = xaccReadQIFAccount (fd, acc);
@@ -892,7 +901,16 @@ xaccReadQIFData( char *datafile )
               freeAccount(acc); 
               continue;
            }
-           insertAccount( grp, acc );
+
+           /* check to see if we already know this account;
+            * if we do, use it, otherwise create it */
+           preexisting = xaccGetAccountFromName (grp, acc->accountName);
+           if (preexisting) {
+              freeAccount (acc);
+              acc = preexisting;
+           } else {
+              insertAccount( grp, acc );
+           }
    
            /* spin until start of transaction records */
            /* in theory, in a perfect file, the transaction data follows immediately */