How to Fix QuickBooks Error OLSU-1024 or OLSU-1022 when creating an account for Bank Feeds?

Sometimes, when working on the QuickBooks desktop, you may be faced with certain errors. One example can be QuickBooks error code: OLSU 1024 or OLSU 1022 that is commonly referred to as a bank feeds error. The QuickBooks Online Banking feature is among the essential features in the QuickBooks accounting software. This feature allows you to quickly reconcile bank accounts and provides accurate information compiling to the system. In terms of online banking option, it allows users to connect their bank or credit card accounts directly to QuickBooks. Any problem related to this feature falls under the OL and OLSU bank feeds error. When you try to create an online bank account in QuickBooks Desktop, the following error appears:

An error occurred while updating the branding files! Please restart the Online Banking Setup Wizard to initiate the update process again.

This article will focus on one of the errors in this series i.e. the OLSU-1024 or OLSU-1022 error, which is a bank feeds error in QuickBooks desktop. If you’re facing of these errors, ensure to follow the post until the end. Also, if you’d like an expert team to resolve the issue for you, then you can contact our QuickBooks online support team by dialing our dedicated support number i.e. 1-800-761-1787. We have a team of headstrong accounting professionals, who have potential to fix the errors coming your way within the least possible time. We work tirelessly round the clock to make your software errors-free for you.

Related Article: Solutions of QuickBooks Error 6000: While Opening Company File

Factors Leading to QuickBooks Banking errors OLSU-1024 or OLSU-1022

There can be a few factors due to which the banking issues can appear on your screen. One of the major causes can be an unstable internet connection. There can be other causes as well, which we have tried to list below:

• Many times, issues at the bank or the financial institution can hinder the process. For example: server down, bank changed the name which requires updating it in the QuickBooks, also in case you are having an inactive bank account set up for online banking.
• Any kind of issue with the internet connection.
• If the error occurs with one or more accounts in the company file.
• Issue with the download or import format.
• Any kind of issues with the financial institutions which includes:
  • Certain critical alerts that are not being acknowledged after logging into online banking directly on the website
  • The financial institution has made changes in the service offerings, web connect, or direct connect
  • In case the bank’s website is having certain issues
• In case one or more company files are having issues.
• If you are using a discontinued version of QuickBooks.

Pointers you can’t afford to miss

Following are the most important points you need to remember before proceeding to the solution methods.

Whether you are connected to the Internet or Not

• In case NOT, then make sure to connect to an active internet connection as it is required to download online banking transactions.
• If YES, Verify the firewall and internet security settings and hit continue.

Whether you are using the latest release for QuickBooks or not

• If NOT, then make sure that the QuickBooks software is updated to the latest release.
• In case already updated, then Continue with the process.

Have you performed a download of transactions from the bank to QuickBooks company file?

• If YES, then continue with the process.
• If NOT, then contact your bank to verify the account information and also ensure that the bank is not facing any outages before moving to the fixation process.

Is QuickBooks allowing you to log in your account outside of QuickBooks via the website?

• If NOT, then contact your bank to verify the account information and also ensure that the bank is not facing any outages before starting with the rectification process.
• If YES, move ahead with the process.

Does the results tally with the Classic Register view?

• For testing purpose, you need to switch to register (classic) mode and try to import or download again. This can be done by clicking on to the Edit > Preferences options, and then selecting Checking from the left pane. After that click on to the Company Preferences tab, and opt for Classic Register View in the Bank Feeds section.
• In case they tally, then you can continue with the troubleshooting. It should be noted that the register mode can be a bit more forgiving in context to the ofx formatting standards banks are needed to use for statement download or import.

Read this also: How to rectify the QuickBooks error code 6130?

Rectification Processes for Fixing QuickBooks Error OLSU 1024 or OLSU 1022

So, now as we know some important facts about the error, we are all set to fix the error. Let’s begin with exploring each of the processes one by one:

Method 1: Updating the QuickBooks software to the latest release

• In this process, the first step for you is to close the company files and QuickBooks software.
• Further open up the Windows Start menu.
• Once done with that, spot the QuickBooks desktop and then right-click the icon, and hit the run as admin option.

• Later, from the No Company Open screen, you need to move to the help menu and choose Update QuickBooks Desktop.

• Moving ahead, you require to choose the options tab and choose the mark all and save options.
• Toward the end of the process, you need to move to the update now tab and select the reset update checkbox.

• The last step is to select the get updates option.

Method 2: Crafting and merging accounts

You are supposed to ensure that there is any sort of issue with the company file. For this, create a copy of the account and later on, merge the same with the old one. This can be done by carrying out the below steps:

• Start off with moving to the Chart of Accounts.

• Right-click the affected account, after which you need to opt for the Edit Account option.

• Furthermore, copy the account name.
• Head forward by typing in an asterisk (*) at the end of the account name.
• Next, you are supposed to opt for the Bank Feeds Settings tab.
• Tap on deactivate All Online Services option, which will then require you to click on the OK tab.

• Followed by selecting Save and Close options.
• Now craft a new account in the Chart of Accounts. Also, note that while setting up the account name, paste the text that was copied earlier.
• Conclude the process by closing and reopening the company file.

Steps to Merge the accounts

• To merge the accounts, you at first need to move to the Chart of Accounts.
• And then, hit a right-click the account with the asterisk, followed by selecting Edit Account.
• Now delete the asterisk, and then choose Save & Close options, respectively.
• Once done with that, you need to hit a click on Yes, in order to merge the accounts.
• After that, set up Bank Feeds.
• And lastly, test if you can download transactions without any issues or not.

See Also: Troubleshooting steps for QuickBooks Unable to Connect to Remote Server Issue

Method 3: Editing the fidir.txt preferences

You can opt for a method to edit the fidir.txt preferences so as to resolve the OLSU 1024 or OLSU 1022 error. The steps to be followed here are as follows:

• For this, you need to navigate to the following location C:\ProgramData\Intuit\QuickBooks 20XX\Components\OLB\branding\filist and locate the fidir.txt file.
• Hit a right-click on the file menu and then choose the Properties option.
• And lastly, opt for the read-only box, and you are done.

Method 4: Repairing QuickBooks Software

Another method that one can try out, in order to fix the OLSU error 1024 or OLSU error 1022. The steps to be carried out under this process are discussed below:

• In this process, the first step is to press Windows + E keys. (For Windows 8, select the Computer tab).
• Choose Uninstall or change a program.
• Now hit a click on QuickBooks and then Uninstall/Change.

• Next, in the QuickBooks installation window.
  • Choose Next, then opt for Repair
  • Followed by opting for Next > Repair > Finish options respectively

Read this Also: How to Resolve QuickBooks company data issues when restoring a backup file?

Method 5: Perform a Clean install of QuickBooks desktop

In order to resolve this QuickBooks Error OLSU-1024 or OLSU-1022, you can perform a clean installation of QuickBooks desktop:

• Initially uninstall your QuickBooks software.
• Carry out the steps to display hidden files.
• Followed by opening the Windows Start menu. Now, spot the “File Explorer”, and open the same.
• Next step is to spot and open the folder having the company files. You can find the files at any of the below locations:
  • C:\ProgramData\Intuit\QuickBooks (year)
  • C:\Users\(current user)\AppData\Local\Intuit\QuickBooks (year)
  • C:\Program Files\Intuit\QuickBooks (year)
  • 64-bit version C:\Program Files (x86)\Intuit\QuickBooks (year)
• Now right-click the folder, followed by selecting the rename option.
• Next step is to add the word OLD to the folder name at the end. This would resist the QuickBooks software from opening when you try to reinstall it.
• End the process by reinstalling the QuickBooks software.

Method 6: Updating the financial institution directory to the latest version available

In case none of the above methods worked in fixing the error, you can carry out the steps below:

1. The initial step is to move to the C:\ProgramData\Intuit\QuickBooks 20XX\Components\OLB\branding\filist
2. Then spot the fidir.txt file and rename it to fidir.old
3. Moving ahead, you need to right-click the link to the version of QuickBooks you are using, in order to get the latest file and then select the save target as/save link as from the pop-up menu.

US	Canada
2020	2020
2019	2019
2018	2018
2017	2017

4. Next step, you will see a save as window appearing on the screen. Followed by selecting the desktop as the file location and then hitting the save option.
5. This step is not mandatory, if the download complete window gets displayed on the screen, then you can select the close tab.
6. You are now required to copy the downloaded fidir.txt file for correcting the filist folder.
7. You should hit a right-click on the fidir.txt file and then hit a click on copy tab.
8. Next, on the keyboard, press Windows + E keys and open the computer window.
9. Now move to the filist folder i.e. C:\ProgramData\Intuit\QuickBooks20XX\Components\OLB\branding\filist.
10. Moving ahead, you need to hit a right click on the filist folder and then click on the paste option. The fidir.txt file that was copied by you from the desktop will be seen in the folder.
11. The final step is to open the QuickBooks desktop and also set up the account, and this ends the process.

Also read: How you can troubleshoot the QuickBooks error 15212?

Winding up!

Implementing any of the above-mentioned steps can be of great help for you to remove the QuickBooks bank feeds errors OLSU 1024 or OLSU 1022. However, if you have any queries or if you are encountering any sort of difficulty in implementing the above solutions, then don’t hesitate in connecting with our tech support team by dialing the helpline i.e. 1-800-761-1787.

We are a hub of technocrats who do not leave any stone unturned to provide the best possible QuickBooks error support services to users. Just pick up your phone and ring up to us, and we will clear all your clouds of confusion.

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