A Complete guide to troubleshoot QuickBooks Error OLSU 1014

QuickBooks accounting software has created tremendous hype amongst entrepreneurs across the nation in the recent couple of years. The fact that it is loaded with some great features has attracted majority of its users. In QuickBooks programming, the web-based banking is a standout amongst the significant highlights. This feature enables you to accommodate the financial balance in the least possible time and also offers accurate information gathering to the framework. Not only this, the web base banking feature also enables to interface the Visa or financial balanced legitimately into the programming. However, there is a contradiction to all these plus points of QuickBooks, and that is the QuickBooks OL and OLSU Bank feed errors.

Today through this article we are going to discuss about one of the most common bank feed error, which is the QuickBooks error code OLSU 1014. Users often face difficulty in dealing with this technical snag, considering which we have come up with this article. Below we have shared the causes, as well as quick fixes to this error. So, let us begin with the discussion.

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

What leads to OL and OLSU Bank feeds error 1014?

These sorts of errors are often encountered in the following cases:

  • In case the financial institution directory is not updated for including the information related to the financial institution.
  • If there is any damage to the company data file or in case you are in 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 company file.
  • Might be you are making use of an unsupported or outdated version of QuickBooks (i.e. QuickBooks 2017 and earlier versions)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 Quicken chase visa card.
  2. Setting up American express account for Bank feeds.

Points you can’t afford to miss

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 pending.
  • Also making sure to connect to the internet, and also checking if the windows firewall is blocking the connection to QuickBooks.
  • Make sure 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 Customize Reports in QuickBooks Desktop for Mac?

Solutions steps for QuickBooks Error OLSU 1014

Now that you know 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 windows in order to add or match transactions. Renaming rules are created on it’s 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:

Preferences option - Screenshot
  • Now select checking option and move to the company preferences tab.
Company preferences option - Screenshot Image
  • And lastly, select the mode to be used from the bank feeds section.

Method 2: Configuring the Internet security requirements

In order to secure the data when connection to the bank, the internet explorer and QB uses the TLS 1.2 security protocol. The steps to check the TLS settings in the Internet explorer are as:

  • Initial step is to visit the tools tab.
  • After that choose the internet options.
Choose internet options in IE - Screenshot
  • Followed by selecting advanced option and scrolling down to the security section.
  • Now, your will have to check the TLS 1.2.
Check the TLS 1.2 - Screenshot
  • Hit a click on OK tab.
  • Now exit all the open application on the system.
  • To end the process, make sure to reboot the system and download the transactions.

Read this also: What is QuickBooks Component Repair Tool?

Method 3: 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.
Switch to single user mode - Screenshot
  • Once done with that, you need to move to the preferences tab and choose checking option from the edit menu.
Company preferences option - Screenshot Image
  • Now click on my preferences tab and then choose default accounts for all four options.
  • Followed by clicking on the company preferences tab and choose the default account for creating paychekcs and pay payroll liabilities.
Creating paychekcs and pay payroll liabilities - Screenshot
  • Hit a click on OK tab.
  • And then make an attempt to set up the account again for online banking.

Method 4: 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:

  • Right clicking the inactive account.
  • After that move to the bank feed settings tab.
  • Next, choose deactivate all online service option and hit 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 needs to hold the Ctrl key each time you have to select a tab. The exception is while entering the information. This will refresh the connection with the bank.

Trying to resolve OLSU 1014 error, when:

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

American Express

It should be noted that American express doesn’t support direct connect 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 Quicken chase visa card, it is a specialty card from chase and the selections that are 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.

See Also: How to Download, Install & Verify QuickBooks Payroll Tax Tables?

Conclusion!

Th above given steps drives us towards the end of this post, where we expect that the QuickBooks bank feed error OLSU 1014 will be fixed. However, if you are still facing the same issue or looking for further assistance then feel free to connect with our support team by dialing 1-800-761-1787. We are a team of headstrong accounting professionals, having 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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