1. In Quicken, create a new account. The account should be setup as not being held by a financial institution. Choose "Cash" as the "Cash Flow" option. Name the account "Payroll Import".
2. To import a QIF file, in Quicken, click File, Import, then QIF File.
3. Select/Browse to fund the desired file to import, then select "Payroll Import" as "Quicken account to import into".
4. After importing, go to the Payroll Import account, select all of the transactions. Right click one of the selected transactions and choose "Move Transactions". Select your checking account, and the payroll transactions are moved to your checking account.
Why was direct import of certain QIF information removed? Only Intuit® can say. The QIF import function has had certain account types disabled, in favor of another data format. What is known is the export and import of QIF is not likely to ever completely go away as it is the means used by Intuit® to obtain your data for support purposes.