Issue when Uploading the Transactional Data

Hi Gurus,
I am not an expert in Back- End SQl and I am BI guy. Please provide a solution or what exactly is going in this Error. I am facing an issue Where I am loading a Transactional Data into Finance application with out any logic and Conversion
Load get fails with Error after Running the Data Management Package
Package: Import
Appset: XXXXXX
Application: FINANCE
Request Time: 2009-04-06 18:31:43
Start Time: 2009-04-06 18:31:44
End Time: 2009-04-06 18:33:32
Total Time: 00:01:48
TOTAL STEPS 3
1. Assign initial parameters: completed in 2 sec.
2. Convert data: completed in 3 sec.
3. Load and process: completed in 103 sec.
Selection
FILE= DataManager\DataFiles\Pet Depot Finance Data.txt
TRANSFORMATION= DATAMANAGER\TRANSFORMATIONFILES\SYSTEM FILES\IMPORT.XLS
CLEARDATA= No
RUNLOGIC= Yes
CHECKLCK= Yes
The list of conversion files in each transformation file
Transformation file: DATAMANAGER\TRANSFORMATIONFILES\SYSTEM FILES\IMPORT.XLS
Messages
Convert data
More than Max reject count records rejected , Please check transformation file.C:\OutlookSoft\Data\WebFolders\HPGLOBAL\FINANCE\DATAMANAGER\TRANSFORMATIONFILES\SYSTEM FILES\IMPORT.XLS
Load and process
FINANCE
Success
Submit Count : 9980 (Record count in source file : 9980)
Accept Count : 9980
Reject Count : 0 + 501 (reject count during convert)
Regards
Kishan Swagath

Sorry Naveen,
The Application set parameters for Extension field update- HTM",TXT" as you provided is not working
and I tried in many different ways also.
This is following Error:
Sytem Error:
The system encountered an error and cannot proceed. Please select the Back Button and try again.If the problem persists, contact administrator.
Job Name: http://training5/osoft/Admin/SetParameters.aspx?App=Finance
Detail: The , character, hexadecimal value 0x2C,cannot begin with a name. Line 1, position 98.
regards
kishan

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