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How to Fix OL & OLSU Bank Feeds Errors in QuickBooks Desktop

Here in this article, we are going to discuss how to fix OL and OLSU bank feeds errors in QuickBooks Desktop?. Have you ever tried to fix OL and OLSU bank feeds errors?. If “yes” but unable to get the successive results, don’t worry just follow our solution steps and keep your problems away from yourself. You will face multiple error issues while using Bank feeds that are: OLSU-1011, OLSU-1013 and OLSU-1016 OL-203, OL-205, OL-206, OL-209, OL-221, OL-231, OL-332, OL-334, OL-392, and OL-232 and OL-249. Check out all from here and later on, we will briefly discuss it. 

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What are the Causes of OL and OLSU Bank Feeds Errors

Before starting to implement the troubleshooting steps for any of your problems, first, you must be aware of what’s causing the problem then move further. From here you will the reasons behind these error issues, these are:

  • Having issues with your bank can be either:
    • You are having some unseen alerts inside your online bank account that must know
    • Some changes made in the banking services offering to Web or Direct Connect 
    • Your online banking account has been deactivated or inactive in QuickBooks from the banking side
    • Your bank information is not up-to-date on the Financial Institution Directory(FiDir) in QuickBooks
    • There may be some issues with your banking servers
  • There may be some issues with your Internet Connection establishment
  • Something went wrong with more than one bank accounts in your company file
  • File from your bank having compatibility issues with QuickBooks
  • When working with an outdated version of Internet Explorer
  • QuickBooks version you are working with are unsupported

Points You Must Know:

Intuit recommends before moving to follow the error resolving solutions, you have to follow these guidelines, make sure not even a single one has been missed.

Create a backup of your company file(to restore your data at any time)

Match any pending transaction that has been downloaded

Make sure you have logged in to a banking website outside of QuickBooks, and you don’t have some unseen pending alerts in your online banking account

Be sure to have good internet connectivity and Windows Firewall is not blocking your connection to QuickBooks

Make sure to work with a supported version of QuickBooks. If not yet, then update it now to the latest release version

Ensure that you have an updated version of Internet Explorer

Check whether you get the error in Bank feeds classic mode, if not, this means the file from your bank will work perfectly in Bank Feeds Classic Mode. If you are still getting the same error issue then move to follow the troubleshooting steps accordingly.

How to switches to Bank Feeds Classic Mode to Fix OL and OLSU Bank Feeds Errors?

If you are using Single user mode then you can switch to bank feeds classic mode anytime, but make sure that your QuickBooks Desktop is up-to-date or has been updated to the latest release version. Follow the steps to do this:

  • From the QuickBooks Edit menu, click on the Preferences
  • From the left pane, Choose Checking >> Company Preferences
  • In the bank feed section, choose your mode you would like to switch: Advanced Mode, Express Mode, and Classic Mode
  • Click on the Classic Mode then hit the OK button

Steps to Fix OL and OLSU Bank Feeds Errors In QuickBooks Desktop

Follow all the steps in the same order shown there to get the best results. Interruption in the sequence of steps gives you unsatisfactory results and also leads to other technical problems, so Intuit says to do the same as shown here.

Step 1: Check and Verify your Internet Security Requirements

To provide the high-level security of data when you’re connecting to your bank, both QuickBooks and Internet Explorer now adopt TLS 1.2 security protocol.

How to Check your TLS settings in Internet Explorer?

Check your TLS settings by following simple and easy steps:

  • Visit Tools ⚙
  • Click on the Internet options
  • Choose Advanced then move down your cursor to the Security section
  • Check whether your TLS 1.2 checked. If not, check it now by clicking the box to turn it on then hit OK
  • Close all the applications you have opened on your computer
  • Shut-down your computer and restart it then attempt to download your transactions

Note: If the error is still shown then move to the next step.

Step 2: Download Bank Feed transactions in a test company file

If the problem persists with your banking servers, attempt to download bank feed transactions in a test company file. 

  • Launch QuickBooks
  • Visit the File menu, then click on New Company
  • Choose either Express Start or Start Setup
  • Set up Bank Feeds for your account affected
  • Attempt to download your bank feed transactions

Important! If the error is shown to you, there might be something gone wrong with your bank. Fix a meet with your bank executive to get the bank’s support with a print of your bank feeds logs. 

If you don’t see the error then move onwards.

Step 3: Check if the File from your bank having good compatibility with QuickBooks

You can only see your downloaded transactions in a .qbo file extension inside QuickBooks. In case, your bank uses a separate extension other than .qbo, you are not eligible to open the file through QuickBooks. 

To check and verify where the problem persists either your bank or your file type, follow the series of steps to attempting download from the official banking website.

  • Sign in to your bank’s website with the same credentials(not inside of QuickBooks)
  • Browse and download your bank transactions in a .qbo file
  • Attempt to import your transactions into QuickBooks

Important! If you are still unable to open the .qbo file inside QuickBooks, there is a high possibility of something wrong with your bank. Schedule an interactive session with your bank executives to get help and the bank’s support. 

If this problem goes resolved and now you’ll be able to import or view your transaction then advised moving to the next step.

Step 4: Refresh your Connection with the Bank

In this step, simply disable your online banking or make it inactive if you have any then refresh your bank connection on the simulated account.

Before moving further, check out that you have disabled your active online banking

  • Visit Company then click on Charts of Accounts
  • Choose the Include Inactive box, now seek for an inactive bank account with a lightning bolt(means that the account is set up now for online banking)

If you found one account then follow the steps to turn off online banking else you can go for setup bank feeds then attempt to download your transaction.

  • Right-click on the inactive account then choose Edit Account
  • Visit Bank Feed settings tab 
  • Choose Deactivate All Online Services then hit OK
  • Choose Save and Close
  • Quit and Reopen your company file
  • Check whether the lightning bolt is gone

Important! At the time of setting up, hold the Ctrl key whenever you choose a button rather than when entering information. It helps in refreshing connections with your bank.

If the error is still unresolved then move to follow further steps.

Note: If the error is not shown, this means the issue is present from your banking connection and now it has been fixed and your transactions have been downloaded. 

Step 5: Create and Merge Accounts 

Check whether the problem is present in your company file or somewhere else. To ensure it, simply create a copy of the account then merge it with the older ones. Let’s get started to do this:

  • Reach to Charts of Accounts
  • Right-click on the simulated account, then click on the Edit Account
  • Choose and copy the account name
  • Enter the Asterisk(*) at the end of the account name
  • Choose the Bank Feeds Settings tab
  • Click on the Deactivate All Online Services >> OK >> Save & Close
  • Create a new account inside the Chart of Accounts

Note: Once you have set up the account name, paste the text you copied earlier.

  • In the end, quit and reopen the company file

How to Merge the Accounts

Follow the simple steps to merge the accounts, steps to be followed are:

  • Reach the Chart of Accounts
  • For the account, you would like to merge right-click on it with the asterisk, then click on the Edit Account
  • Detach the asterisk, then choose Save & Close
  • Choose Yes to merge the accounts and then set up Bank Feeds
  • Check and verify if you can download transactions right now

Note: In case you are unable to edit or merge the accounts, this means that maybe you have any damaged/corrupted company files. In order to fix the issue entirely, you can get help from our executives having good knowledge of fixing company file error issues.

If you still get the same error then move to follow the last solution might help you to completely trigger your bank feeds errors.

Step 6: Turn off and set up online banking for other accounts

Are you using multiple accounts set up for online banking? Check there may be one of your accounts where the issue presents. If an individual account shows trouble in connecting to the bank, at the moment your other accounts can also be adversely affected. 

You can check this through the following steps:

  • Reach to the Charts of Accounts then choose the Include Inactive checkbox 
  • Then you have to turn off and set up the online banking for each of your accounts

If you are unable to turn off or disable the bank feeds, don’t worry Intuit will help you at every step to make your problems resolved.

If the issue remains unresolved or still persists, then move to follow the points listed below:

  • Visit your bank’s support along with a copy of your bank feeds log
  • Schedule a session with your bank executive and ask your questions to them to escalate the case through the OFX Connectivity page for complete resolution

Important! Intuit advised keeping noted of your Case/ Ticket for your future help.

If you are facing trouble visiting your bank, you should not worry at all, don’t go anywhere just come here to get solutions for all your QuickBooks.

Suggested Read: How to Fix QuickBooks Banking Error 102

The EndMost Note

To get help at another stage for your OL and OLSU bank feeds errors in QuickBooks Desktop, just pick any of our value-added customer help services, one of them is QuickBooks error support service. Get it now by ringing our phone through our toll-free number +1-844-476-5438. You can get the same service at multiple locations, but trust us, we believe in offering satisfactory results by providing good quality solutions to your problems. The best thing we provide is to pay after you are satisfied with our service and solutions.

We are very thankful for you to choose Auditxpert for your complicated error issues arises frequently while working on QuickBooks. 

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