Many times, while working with QuickBooks accounting software, users might encounter certain errors. One such error is QuickBooks error: OLSU -1024 or OLSU 1022. This is basically a bank feeds error. QuickBooks online banking is one of the vital features in this accounting software. This feature permits the user to reconcile the bank account swiftly and also offers accurate data compiling to the system. Talking about the online banking, it permits the user to connect the credit card or bank accounts directly to the QuickBooks software. Any kind of issue with this online banking feature comes under the OL and OLSU bank feeds errors.

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.

Today’s article will deal with one of this series errors i.e. OLSU -1024 or OLSU 1022, which is a bank feeds errors in QuickBooks desktop. If you are encountering any such error, make sure to stay tuned with the article till the end. Or if you want a team of experts to fix the error for you, then call our QuickBooks online support team at 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 are working relentlessly round the clock to make your software error-free for you.

Related Article: Solutions of QBWin.log errors in QuickBooks desktop

Factors leading to QuickBooks Banking errors

There can be a few factors due to which the banking issues can appear on the user’s 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 the user is having an inactive bank account set up for online banking
  • Any kind of issue with the internet connection
  • Or 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 the user is 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

Whether you are using the latest release for QuickBooks or not

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, the user needs 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 the user 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 use the automated password reset tool for QuickBooks desktop?

Rectification processes for QuickBooks OLSU- 1024 or OLSU-1022 Errors

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

Method 1: Updating the QuickBooks software to the latest release

  • In this process, the very first step for the user is to close the company files and QuickBooks software
  • After that open up the Windows Start menu
  • Once done with that, spot the QuickBooks desktop and then right click the icon and hit run as admin option
Run QuickBooks as Administrator - Screenshot
  • Now, moving ahead, from the No company open screen, the user needs to move to the help menu and choose update QuickBooks desktop
Update QuickBooks Desktop - Screenshot 1
  • Moving ahead, the user needs to select the options tab and choose the mark all and save options
  • Towards the end of the process, the user needs to move to the update now tab and select reset update checkbox
Update QuickBooks Desktop - Screenshot
  • To end the process, the user needs to select get updates option.

Method 2: Crafting and merging accounts

The user is supposed to ensure if 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:

Crafting and merging accounts - Screenshot
  • And then, right-click the affected account, after which the user needs to opt for the Edit Account option
Crafting and merging accounts - Screenshot 1
  • Now, copy the account name.
  • And type in an asterisk (*) at the end of the account name.
  • Moving ahead, the user is supposed to opt for the Bank Feeds Settings tab.
  • And then choose the deactivate All Online Services option, which will then require the user to click on OK tab
Crafting and merging accounts - Screenshot 2
  • 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, the user needs to paste the text that was copied earlier.
  • And end the process by closing and reopening the company file.

Steps to Merge the accounts

  • For merging the accounts, the user at first need to move to the Chart of Accounts.
  • And then, 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, the user needs to 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: Resolve QuickBooks unable to connect to remote server error

Method 3: Editing the fidir.txt preferences

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

Method 4: Repairing QuickBooks Software

  • In this process, the very first step is to press Windows + E keys. (For Windows 8, select the Computer tab).
  • And then choose the Uninstall or change a program.
  • After that click on QuickBooks and then Uninstall/Change.
Uninstall and Reinstall QuickBooks on your server computer - Screenshot
  • Now in the QuickBooks installation window.
    • Choose Next, then opt for Repair 
    • Followed by opting for Next > Repair > Finish options respectively.
Repair QuickBooks Desktop - Screenshot

Read this Also: Fixation Methods of QuickBooks Error Code 4120

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:

Clean Install Utility - Screenshot
  • Initially, uninstall QuickBooks software
  • And then, carry out the steps to display hidden files.
  • Followed by opening the Windows Start menu. Now, spot the “File Explorer”, and open the same
  • The next step is to spot and open the folder having the company files. The user 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, the next step is to right click the folder, followed by selecting the rename option
  • The next step is to add the word OLD to the folder name, at the end. This would resist the QuickBooks software from opening it when the user tries 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, the user can carry out the steps below:

  1. The very first step is to move to the C:\ProgramData\Intuit\QuickBooks 20XX\Components\OLB\branding\filist
  2. And then spot the fidir.txt file and rename it to fidir.old
  3. Moving ahead, the user needs 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.
  1. In the next step, the user 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
  2. This step is not mandatory, if the download complete window gets displayed on the screen, then user can select the close tab.
  3. The user is then required to copy the downloaded fidir.txt file for correcting the filist folder
  4. The user should right click the fidir.txt file and then click on copy tab
  5. Now, on the keyboard press Windows + E keys and open the computer window
  6. After that move to the filist folder i.e. C:\ProgramData\Intuit\QuickBooks20XX\Components\OLB\branding\filist
  7. Moving ahead, the user needs to right click the filist folder and then click on the paste option. The fidir.txt file that was copied by the user from the desktop will be seen in the folder.
  8. The last step is to open the QuickBooks desktop and also set up the account and this ends the process.

Also read: Upgrade to QuickBooks Enterprise from Desktop Pro/Premier

Winding up!

Implementing any of the above discussed options can be of great help for the users to get rid of the QuickBooks bank feeds errors OLSU 1024 or OLSU 1022. However, in case of any query or if you are facing any sort of difficulty in implementing the above solutions, then do not hesitate in making a call at our toll-free number i.e. 1-800-761-1787.

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


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