If you get an error that a file doesn't have the correct format, it means your import template does not match the import file. The best way to correct this is to open your import file and note each column/field. Then open the Import function and the Field Selection screen, and make sure that the selected fields on the right side are identical to your import file.
If you are starting your inventory setup from scratch, the Import Items function is best for setting up default prices and most recent cost and most other information except quantities. The Import Physical Inventory or Import Adjustments (quantity and cost) is probably the quickest way to set up the quantity and inventory costs.
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Softrak Tech Support