Learn the process of how the OL and OLSU Bank Feeds error in QuickBooks can be fixed:
QuickBooks offers web-based accounting, which is a standout in QuickBooks programming. This feature enables users to accommodate their financial balance and gives exact information. But along with all the positive factors, there lies a negative one as well, which the OL and OLSU Bank feeds errors. The OL and OLSU Bank feeds errors include: OLSU-1013 and OLSU-1016, OL-203, OL-205, OL-209, OL-221, OL-231, OL-332, OL-334, OL-392, and OL-232 and OL-249. This article will cover the specific instances of OL and OLSU errors. If you are also facing any of these bank feeds errors, then you can scroll through this post carefully and explore further.
An alternative for resolving the OL and OLSU bank feeds errors in QuickBooks desktop is to get in touch with an expert or a team of professionals and let them handle the situation. You can give us a call at our toll-free number 1-800-761-1787, and discuss your issues with our experts. They will definitely resolve the issue for you.
What are the factors leading to the QuickBooks Desktop Bank Feeds errors?
There can be a couple of factors that would end up in OL and OLSU bank feeds errors. We will be highlighting the most important and common ones below:
- In case there is any issue with the bank:
- If you are having pending alerts on the online bank account that is to be acknowledged.
- The banks changed their service offering to web or direct connect.
- You are possessing an inactive bank account in QuickBooks, especially one having online banking.
- The bank’s info isn’t updated on the financial institution’s directory in QuickBooks.
- If there is any issue with the servers.
- You could end up in this error in case an unsupported version of QuickBooks desktop is being used.
- If there is any issue with the Internet connection.
- If there is a problem with one or more bank accounts in the company file.
- You could end up in the bank feeds errors if the outdated version of internet explorer is being used.
- If the bank file isn’t compatible with the QuickBooks.
Pointers you should not avoid
There are certain guidelines and pointers that you need to check before starting the entire process. These pointers include the following:
- It is supposed to update the Internet explorer to the latest version.
- And also ensure that you are connected to the internet and the firewall isn’t blocking the connection to QuickBooks.
- Another important thing is to ensure that you are able to sign in to the bank’s website outside of QuickBooks. Also, there should be no pending alerts.
- Matching any pending downloaded transactions is recommended.
- Backing up the company file is a must.
- You need to ensure that you are using the latest version of QuickBooks desktop, and if not, try updating it as soon as possible.
- Lastly, check if the error is seen in the bank feeds classic mode. If not, then this means that the file from the bank works best in classic mode.
You may read also: How to Fix the QuickBooks Error Code 12152?
Methods For Fixing OL and OLSU Bank Feeds Errors In QuickBooks
Now that you have explored the causes and other important facts, it is time to troubleshoot the error. You can implement a couple of solutions for getting rid of the OL and OLSU bank feeds errors. Let us unleash each of the methods one by one:
Method 1: Checking the Internet security requirements
The basic troubleshooting method is to check the internet security requirements. For securing the data when connecting to the bank, internet explorer, and QuickBooks used the TLS 1.2 security protocol. Below are the steps that could help you to check the TLS settings in Internet Explorer:
- The initial step is to visit the Tools tab.
- Followed by selecting the Internet options.
- You are then required to select the Advanced option and then scroll down to the Security section.
- Next step is to see if you are having TLS 1.2 checked. If not, then it is recommended to select the box to turn it on.
- Followed by selecting the OK tab.
- Now, exit all open applications on the system.
- And then, restart the system and try downloading the transactions.
Method 2: Downloading the Bank Feed transactions in a test company file
You need to check if there is any issue with the bank’s servers, which can be one by downloading the transactions in a test company file. The steps involved in this process are as follows:
- First of all, open the QuickBooks software.
- And then visit the File menu and also select the New company.
- After that choose the Express start.
- Followed by Setting up bank feeds for the affected account.
- You are now required to try Downloading the transactions.
In case the error is seen, then there might be issues with the bank.
Related Post: How to Solve Bank Feed Error OLSU 1014 in QuickBooks?
Method 3: Checking if the file from the bank is compatible with QuickBooks
It is important for you to check whether the file from the bank is compatible with QuickBooks. QuickBooks software only opens downloaded transactions in a .qbo file extension. In case the bank uses a different file extension, then QuickBooks won’t open the file. You will have to download the transactions directly from the bank’s website to see if the issue is with the bank or the file type.
- For this, Sign in the bank’s website outside of QuickBooks.
- And spot and Download the bank transaction in a .qbo file
- After that, it is important to Import transaction to QuickBooks.
In case you are still unable to open the .qbo file in QuickBooks, then there might be an issue with the bank.
Method 4: Refreshing the connection with the bank
You need to turn off the online banking on inactive bank account, if available. After that, refresh the bank connection on the affected account. You need to first check whether there are any inactive bank accounts with online banking. The steps to be followed are:
- First of all, Visit the company.
- And then, select the Charts of accounts.
- Also, choose the Include inactive box. And then look for the Inactive account with a lightning bolt (this means that the account is set up for online banking).
In case you are able to spot one, then here is how to turn off online banking.
- Hit a click on Inactive account.
- And then, choose the Edit account.
- Followed by navigating to the Bank feed settings tab.
- Next step is to select the Deactivate all online services option and then hit the OK tab.
- Also, select Save and Close.
- And then close and reopen the company file.
- You need to ensure that the lightning bolt is gone.
- And also, Set up bank feeds and then try downloading the transactions.
It is important to note that, while setting up, you need to hold the Ctrl key each time a tab is selected, except while entering the information. This will refresh the connection with the bank. In case you are unable to spot the error, then there might be some issue with the bank connection.
Method 5: Creating and merging accounts
You need to check if there is any issue with the company file. For this, you need to create a copy of the account and then merge it with the old one. This can be done by carrying out the steps below:
- Firstly, visit the Charts of Accounts.
- And then, right click the Affected account. Also, select the Edit account.
- Next step is to select and Copy the account name.
- Followed by entering an Asterisk (*) at the end of the account name.
- Now, choose the Bank feeds settings tab.
- Also, make sure to select the Deactivate all online services tab and then hit OK tab.
- Next step is to select Save and close options.
- Along with that, Create a new account in the chart of accounts. Also note that while setting up the account name, try pasting the text copied earlier.
- End the process by closing and reopening the company file.
Now, merge the accounts
the steps to merge the accounts are given as follows:
- For merging the accounts, visit the Chart of accounts.
- And then right click the account with the Asterisk. Also, select the Edit account tab.
- Next step is to remove the Asterisk and also choose the Save and Close options.
- Now, choose Yes to merge the accounts.
- Followed by Setting up bank feeds.
- And then test if you are able to Download transactions.
In case you are unable to edit or merge the accounts, then you might have a damaged company file.
Method 6: Turning off and setting up online banking for other accounts
In case it has multiple account set up for online banking, then you need to check if the issue comes from one of the accounts. In case the account has trouble connecting to the bank, then it might affect the other accounts.
- You will have to navigate to the Chart of accounts and then choose the Include inactive checkbox.
- After that, turn off and then Set up online banking for each of the accounts.
In case you are unable to turn off the bank feeds for any of them, then look for professional assistance.
If you have read the above article carefully and have implemented the methods correctly, then the QuickBooks desktop OL and OLSU bank feed errors might not trouble you anymore. If you are stuck at any stage or if you require any technical assistance, then do not hesitate in calling us anytime. You can make a call at our QuickBooks desktop error support toll-free i.e. 1-800-761-1787. Our professionals will be happy to fix the error on your behalf.
These Bank Feeds errors occur when connecting QuickBooks to Online banking services. These errors prevent you from downloading and importing transactions into QuickBooks.
Yes! if you’re unable to rectify the Bank Feeds errors, then you can manually import bank transactions into QuickBooks Desktop. Most of the banks allow downloading of the transaction data in formats such as CSV, QFX, or QBO. You can then import these files into QuickBooks by going to the Banking menu and then selecting File Upload option.
OL & OLSU Bank Feeds errors can occur in various versions of QuickBooks, including QuickBooks Desktop, Online, and Enterprise solutions.
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