How to Solve Bank Feed Error OLSU 1014 in QuickBooks?

A Complete Guide to Troubleshoot QuickBooks Enterprise Error OLSU 1014

QuickBooks accounting software has created tremendous hype amongst entrepreneurs across the nation in the last few years. The fact that it is loaded with some amazing features has attracted the majority of its users. In QuickBooks programming, web-based banking is a standout among the significant highlights. This feature allows you to accommodate the financial balance in the least possible time and also offers accurate information gathering to the framework. Not only this, but the web-based banking feature also enables for the integration of the Visa or financial balance legitimately into the program. However, there is a downside to all these positive aspects of QuickBooks, and that is the “QuickBooks OL and OLSU Bank feed errors“.

Through this article, we are going to discuss a common bank feed error, which is the QuickBooks error code OLSU 1014. This technical issue is often difficult for users, and considering it, we have come up with this article. Below we have provided the causes, as well as quick fixes to this error. So, Let’s get started. If you need a technical expert to guide you through the troubleshooting process, feel no hesitation to talk to and share your queries with our certified ProAdvisors at 1-800-761-1787.

You may also see: How to Fix QuickBooks Error Code 6150?

What Leads to OL and OLSU Bank Feeds Error 1014?

This QuickBooks error is often encountered in the following cases:

• In case the financial institution directory is not updated to include the information related to the financial institution.
• If there is any damage to the company data file or in case you are in the Register or classic mode instead of side-by-side or express mode.
• Any issue with the bank:
  • Any pending alerts on the online bank account
  • The bank changes their service offering to web or direct connect
  • In case the bank’s info isn’t updated on the financial institution’s directory in QuickBooks
  • There is any problem with the servers
• Any sort of error in the internet connection.
• In case there is any problem with one or more bank accounts in the company file.
• It might be that you are making use of an unsupported or outdated version of QuickBooks (i.e. QuickBooks 2017 and earlier versions)

This article will guide you the way out of the OLSU 1014 error, especially when:

1. Downloading the Bank feeds information for a visa card.
2. Setting up an American Express account for Bank feeds.

Points to remember

In order to avoid any sort of hindrance while fixing QuickBooks error OLSU 1014, make sure you follow the guidelines below:

• Backing up the company file is a must
• Tallying any pending download transactions.
• Check whether you are getting the error in bank feeds classic mode.
• Ensuring whether you can sign into the bank’s website outside QuickBooks and also checking if any alerts are pending.
• Make sure to connect to the internet, and also checking if the Windows firewall is blocking the connection to QuickBooks.
• Ensure that you are using a supported version of QuickBooks.
• Also, check that your Internet Explorer is updated to the latest version.

Read Also: How to Move your QuickBooks Desktop file to QuickBooks Online?

Updated Troubleshooting Methods for QuickBooks Error OLSU 1014

Now that you know the majority of the facts about OLSU 1014, it is time to get rid of the error and begin with the fixation process:

Method 1: Switching to Express Mode

Talking about the express mode, you use the transaction list in Windows in order to add or match transactions. Renaming rules are created on their own, and they are considered more flexible as compared to the classic mode. In order to navigate to the downloaded transactions list, you can choose the transaction list option. Also note that if there are no downloaded transactions ready for adding and matching, you will see the download transactions instead. The steps involved in this process are:

• Ensuring the QuickBooks desktop is updated to the latest release.
• Also, ensure to use the single-user mode.
• The next step is to select Preferences from the QuickBooks edit menu.

• Now select the checking option and move to the Company Preferences tab.

• And lastly, select the mode to be used from the Bank feeds section.

Method 2: Specifying the default accounts for personal and company preferences

• The initial step is to Log in to the company file as admin and then Switch to the single-user mode.

• Once done with that, you need to move to the Preferences tab and choose the checking option from the Edit menu.

• Now click on the My Preferences tab and then choose Default accounts for all four options.
• Followed by clicking on the Company preferences tab and choosing the Default account for creating Paychecks and Pay payroll liabilities.

• After that, hit click on the OK tab.
• And then make an attempt to Set up the account again for online banking.

Read this also: How to Resolve the QuickBooks Error Code PS107?

Method 3: Refreshing the connection with the bank

Turning off online banking on inactive bank accounts is a must. And then, the process to refresh the bank connection on the affected account should be carried out:

• First of all, check all Inactive bank accounts.
• And then Move to the company.
• After that, choose chart of accounts.
• Followed by selecting the include inactive box. Spot the inactive account with the lightning bolt.

In case you identify an inactive account, the below steps can be carried out to turn off online banking:

• The first step requires right-clicking the Inactive account.
• After that, move to the Bank feed settings tab.
• Next, choose to Deactivate all online service option and hit the OK tab.
• After that, choose the Save and Close option.
• Followed by closing and reopening the company file.
• Now ensure the lightning bolt is gone.
• To end the process, Set up bank feeds and try to download the transactions.

The point to be noted here is that while setting up, users need to hold the Ctrl key each time when selecting a tab. The exception is while entering the information. This will refresh the connection with the bank.

Method 4: Configuring the Internet security requirements

In order to secure the data when connected to the bank, Internet Explorer and QuickBooks uses the TLS 1.2 security protocol. The steps to check the TLS settings in Internet Explorer are as:

• Initial step is to visit the Tools tab.
• After that, choose the Internet options.

• Followed by selecting the Advanced option and scrolling down to the Security section.
• Now, you will have to check the TLS 1.2.

• Hit a click on OK tab.
• Now exit all the open application on the system.
• Lastly, make sure to reboot the system and download the transactions.

See Also: How to Resolve QuickBooks desktop crashing or freezing Issue?

Trying to resolve OLSU 1014 error, when

1. Setting up an American Express account for bank feeds.
2. And downloading Bank feeds information for a Quicken Chase Visa card.

American Express

It should be noted that American Express doesn’t support direct connections for certain types of business accounts. In order to fix this issue, you will have to setup the account and also download the transactions using the Web Connect. For further information, you can check out the process to download the bank feed transactions.

Quicken Chase Visa Card

Talking about the chase visa card, it is a specialty card accessible for downloading online banking information i.e. OFX, Quicken QIF, or Comma Separated values. It should be noted that these will not work for QuickBooks. And you need to contact Chase to have the Quicken Visa Chase card added to the QuickBooks financial institutions list.

Conclusion!

The above-discussed steps drive us to the end of the post. We expect the QuickBooks bank feed error OLSU 1014 is now removed from your software. However, if you are still facing the same issue or have any questions or you need further assistance, then feel free to connect with our support team by dialling 1-800-761-1787. We are a team of headstrong accounting professionals who have the potential to deal with all possible QuickBooks errors. Feel free to reach out to us anytime because at QuickBooks enterprise support hustle never stops.

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