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If you're thinking that importing the .QIF file into Peachtree will automate your bank reconcilition, you can't do that with Peachtree. The only benefit to importing a .QIF would be to establish all of the transactions in Peachtree for the first time. If you'd already entered them, then importing again would result in duplicate transactions.
Finally, to answer your question, you'd have to convert the .QIF file into the import format required by Peachtree. You'd have these same challenge if you were trying to export from Peachtree into QuickBooks.
This is something that I automate for clients by programming an Excel spreadsheet. If you're looking to do this on your own, the import/export specifications are listed in the online documentation for Peachtree. You can also export the desired transaction type from your Peachtree company or one of the sample companies to see what the file looks like.