Many times, while working with QuickBooks accounting software, you might encounter certain errors. One such error is QuickBooks error: OLSU -1024 or OLSU 1022 which is basically known as a bank feeds error. QuickBooks online banking is one of the vital features in this accounting software. This feature permits you to reconcile the bank account swiftly and also offers accurate data compiling to the system. Talking about the online banking, it permits you 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.
This 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 by dialing our dedicated support line 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 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 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.
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 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 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.
- Towards the end of the process, you need to move to the update now tab and select reset update checkbox.
- Last step is to select get updates option.
Method 2: Crafting and merging accounts
You are 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:
- 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 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
- For merging 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.
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: 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:
- Initially uninstall 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 it when you 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, you can carry out the steps below:
- The initial step is to move to the C:\ProgramData\Intuit\QuickBooks 20XX\Components\OLB\branding\filist.
- Then spot the fidir.txt file and rename it to fidir.old.
- 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.
- In the 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.
- This step is not mandatory, if the download complete window gets displayed on the screen, then you can select the close tab.
- You are now required to copy the downloaded fidir.txt file for correcting the filist folder.
- You should hit a right click on the fidir.txt file and then hit a click on copy tab.
- Next, on the keyboard press Windows + E keys and open the computer window.
- Now move to the filist folder i.e. C:\ProgramData\Intuit\QuickBooks20XX\Components\OLB\branding\filist.
- 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.
- The final step is to open the QuickBooks desktop and also set up the account and this ends the process.
Implementing any of the above discussed options can be of great help for you 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 connecting with our tech support team by dialing helpline 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. Just pick up your phone and ring up to us, we will clear all your clouds of confusion.