QuickBooks comes with various features that help you in managing your accounts easily. QuickBooks Bank Feeds one of the feature that comes with QuickBooks and it is one of the highly appreciated features that allows you to process transactions from your bank account through QuickBooks. It can be very time saving for you as you don’t have to go to the bank’s site separately. However, you can also face various errors and issues the bank feeds as well. There is whole dedicated error series or category for QuickBooks Banking Errors which is known as OL & OLSU Bank Feeds errors.

This article will help you to resolve all the possible errors related to the OL and OLSU Bank Feeds Errors. In case if you are looking for an instant solution for your QuickBooks Banking Errors then you can also get in touch with us at our toll-free Intuit QuickBooks Support +1866-644-7717.

Common QuickBooks Desktop online banking errors are:

  • OLSU-1011
  • OLSU-1013
  • OLSU-1014
  • OLSU-1016
  • OL-202
  • OL-203
  • OL-205
  • OL-206
  • OL-209
  • OL-221
  • OL-231
  • OL-232 and OL-249
  • OL-301
  • OL-332
  • OL-334
  • OL-392 and OL-393.

Why QuickBooks Banking Errors Occurs?

There can be multiple reasons due to which these banking issues can occur on your screen. Mostly, the error occurs due to an unstable internet connection. Some of the most common causes due to which these errors can occur are as given below:

  • Technical issues with your financial institution’s website such as:
    • Some important alerts or changes that are being ignored after logging into the Bank’s site.
    • Your financial institution has made some changes in the current services that are being provided.
    • Your bank’s site is having some server related issues.
  • Unstable or unavailable internet connection.
  • Some QuickBooks company files are damaged.
  • You are currently using an outdated or discontinued version of QuickBooks.
  • Some other technical issues that are occurring while downloading or importing the bank transactions.
  • Bank accounts are not properly set up in QuickBooks Bank feeds.

How To Resolve QuickBooks Online Banking Errors?

This section of the article will provide you the solution steps of QuickBooks Online Banking Errors. These solution steps are majorly basic and any QuickBooks user can perform them. In order to resolve the QuickBooks OL and OLSU errors, you need to follow the below-mentioned steps:

Are you connected to the internet?

If No: Connect your system to a stable internet connection and then try to download the transactions.

If Yes: Re-configure your firewall and internet security settings because sometimes improper firewall settings can also cause these banking errors.

Are you on a supported version of QuickBooks Desktop and Internet Explorer?

If No: Install and use the latest version of Internet Explorer.

If Yes: You can Continue

Are you on the latest release for your QuickBooks Desktop application?

If No: QuickBooks online banking errors can also occur if your QuickBooks version has become discontinued. You need to update your QuickBooks software to the latest release in order to use online banking services properly. You can also contact us at our toll-free QuickBooks Support Number +1866-644-7717.

If Yes: Continue

Have you ever successfully downloaded from this account to QuickBooks?

If No: Verify your bank account details and provide requires permissions to the QuickBooks software. Also validate the Identity Confirmation Request section to get additional details.

If Yes: Continue.

Can you log in to your account through the website (outside of QuickBooks)?

If No: You need to contact your bank to verify your bank account details. You also have to make sure that the bank is not encountering any kind of issues while initiating the troubleshooting steps from your side.

If Yes: Validate the Bank Feeds log files to get assured that any connection failure is not occurring and if it is occurring then you need to address them.

How To Resolve QuickBooks Banking Errors?

Step 1: Enable TLS 1.2 Security Protocol if available

  • Open Internet Explorer and update it to the latest release.
  • Make Internet Explorer your default web browser.
  • Click on the gear icon from the tool bar.
  • From the Internet Options, open the Advanced tab
  • From the Security section, do the following things:
    • Unmark the Use TLS 1.0 checkbox.
    • Mark the Use TLS 1.2 checkbox.
  • Select Apply and then OK to save changes
  • Open the Task Manager and close all the irrelevant processes that are running in the background.

Step 2: Create a new test company file

This step will tell you whether the error is occurring in QuickBooks or in your Bank’s site.

  • Run QuickBooks and from the main menu, go to File > New Company > Express Start.
  • Open the new company file that you’ve just created.
  • Add the bank account in which you were facing the issue.
  • Try to download transactions to check if the error is with QuickBooks or with Bank.

If the error is still around then it means the error is occurring due to some issues with the bank’s site. Now, you need to go to the last step i.e. the 6th step.

If the error doesn’t appear then it means that the issue is with your QuickBooks software and you need perform steps sequence wise from the 3rd step.

Step 3: Run account setup with the Ctrl key suppressed

This step will allow you to recover from an incomplete or failed connection with your bank.

Activated: Lightning bolt displays on the Chart of Accounts

  • Create back up the QuickBooks company file. You can use Intuit Data Protect or any other backup services for it.
  • Search for all the Inactive Accounts available in your current QuickBooks company file that still have the lightning bolt:
    • From the Company menu, open the Chart of Accounts window.
    • Click on the Include Inactive checkboxes and then check for an inactive account that still contains lightning bolt.
    • Locate and right-click on the account which is having issues and click on Edit Account.
    • Open the Bank Feed Settings tab and select the Deactivate All Online Services option.
    • Click on Save & Close.
    • Make sure that the Lightning Bolt is no more available.
    • Close all the company files then open the file which is having the error.
    • Go to the Bank Feeds setup and try to download all the transactions again.
  • Deactivate the account for online services.
    • From the Company menu, open the Chart of Accounts window.
    • Locate and right-click on the account which is having issues and click on Edit Account.
    • Open the Bank Feed Settings tab and select the Deactivate All Online Services option.
    • Click on Save & Close.
    • Close all the company files then open the file which is having the error.
  • Go to the Bank Feeds section and press and hold the CTRL key before you select any option. Navigate to set up account for Bank Feeds to get more information about setting up your bank account properly.
  • Keep on holding the CTRL key throughout the whole process while inserting the following details:
    • From the Banking menu, go to Bank Feeds > Bank Feeds Center.
    • Press and hold the CTRL key and then click on Send/Receive until the PIN screen occurs.
    • Keep on pressing the Ctrl key and select OK once you enter your PIN. Hold down the CTRL key until a message pops-up on your screen that says transactions have been downloaded.

If any error doesn’t come on your screen then it means that you are having some internet related issues and you need to address it.

If the same error comes to your screen then it means that the issues cannot be resolved using this method. Please go to Step 4.

Not Activated: No lightning bolt or Bank Feed Settings tab on the account.

  • Create back up the QuickBooks company file.
  • Perform the same solutions mentioned in the 3rd step

Step 4: Create a new account, then merge the accounts

Sometimes you may face the online banking errors because the account you are trying to set up is having some issues. This step will help you to tackle that part.

Note: Before moving on to the solution steps, you need to ensure that you have cleared all the pending transactions.

  • From the Chart of Accounts window, right click on the account on which you are facing issues and then select Edit Account from the drop-down list.
  • Copy the Account Name and include an asterisk (*) at the end of the account name.
  • From the Bank Feed Settings tab, click on the Deactivate All Online Services
  • Click on Save & Close.
  • Create a new account from the Chart of Accounts.
  • Copy and paste the Account name but the asterisk (*).
  • Close and open the company file again.
  • From the Chart of Accounts, right-click on the account that has asterisk and select Edit Account from the drop-down.
  • Remove the asterisk and select Save & Close.
  • If you get any warning message, click on Yes.
  • Set up account for Bank Feeds and then download transactions to the newly added account.

Important: If you couldn’t add or edit the account then your data files might be damaged. In such cases, you need to contact QuickBooks Support to get support for your data damage issues.

Step 5: Deactivate ALL accounts with online services

If multiple accounts are set up for online banking services then this solution can help you in resolving the issue. Sometimes, even a single account with some issues can affect all the online accounts.

Note: It can be a long process if you have set multiple accounts in QuickBooks Bank Feeds.

  • From the Company menu, open the Chart of Accounts window.
  • Click on the Include Inactive checkboxes.
  • Click on Save & Close.
  • Close the company file and then open it again.
  • Try to download transaction to check if the error is resolved or not.

Technical Support For QuickBooks Banking Errors

This article has provided solution for almost every situation in which you can face QuickBooks OL and OLSU errors. If you are able to identify your situation then resolving these errors can easily be resolved as you will not have to perform all the mentioned steps. However, sometimes resolving these errors manually won’t be possible if the error is actually occurring from your bank’s site. In such situations, you can only wait until your bank fixes the issue. However, if there is no issue from the bank’s side and you couldn’t resolve the error then you can get in touch with us at our toll-free QuickBooks Support Phone Number +1866-644-7717 and get an instant resolution for your issues so that you can use online banking services within the QuickBooks desktop.

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