How To Fix OL and OLSU Bank Feeds Errors in QuickBooks Desktop

In this article, we will discuss how to fix OL and OLSU bank feeds errors in QuickBooks Desktop. The solutions that we are going to discuss here will be helpful to solve such errors OLSU-1013, OLSU-1016, OL-203, OL-205, OL-209, OL-221, OL-231, OL-332, OL-334, OL-392, and OL-232 and OL-249. This article comprises of the complete solution to error and reasons as well as. We have listed here different methods to troubleshoot this issue and it might be done by you. Still have any problem, contact us:+1-844-405-0904

Causes of OL and OLSU Bank Feeds Errors

This error is due to some reasons that are listed below:

  • If you are having an issue with your bank, these bank error may be-
    • Check your online bank account, maybe you have any pending alerts on your that needs to acknowledge by you.
    • There may be service changed by your bank like your bank offering to Web or Direct Connect service
    • You might have an inactive bank account in QuickBooks that is linked with online banking.
    • Maybe you have outdated information on the Financial Institutions Directory (FiDir) in QuickBooks
    • You have issues with connecting to the bank servers
  • You have an Internet connection like, low internet speed.
  • There is an issue with one or more bank accounts in your company file
  • Your bank file is not compatible with QuickBooks
  • You are not using the latest version of Internet Explorer or working with an unsupported version of QuickBooks.

Important things to do before performing the fixation steps

Before performing any fixation steps, you need to ensure the following points, check out below points:

  • Make sure to keep a back up your company file.
  • If you have any pending transactions then match the pending downloaded transactions.
  • Make sure to log in to your bank’s website outside of QuickBooks, and check you do not have any pending alerts, if any then first work with alerts.
  • Make sure you have a good internet connection, and also check your Windows firewall, must not be blocking your connection to QuickBooks.
  • Make sure you are using the supported version of QuickBooks. If you are using the outdated version then first you need to update QuickBooks to the fresh release.
  • Make sure to check the version of Internet Explorer, if outdated then first update with the latest release.
  • Whenever you get this error, then first check, are you getting this error in Bank Feeds Classic Mode?. If not, then it means the file from your bank works well in Classic Mode. If you get the same error, move forward to the troubleshooting steps.

Troubleshoot methods to fix OL and OLSU bank feeds errors

Method 1: Check your Internet security requirements

To secure your data Internet Explorer and QuickBooks work with the TLS 1.2 security protocol while connecting to your bank. So below are the steps to check the TLS settings in Internet Explorer.

  1. First, open Internet Explorer and click on the Tools ⚙.
  2. Next, look for the Internet options and click on it.
  3. Later, click on Advanced, and scroll down to the Security section.
  4. Here, look for the TLS 1.2 and make sure the checkmark is selected. If not, then click on the box to turn it on.
  5. Click on OK.
  6. Terminate all the open applications on your computer.
  7. Next, restart your computer to refresh all the modified changes, next you need to try to download your transactions.

If this solution does not work for you, then go to the next step.

Method 2: Download bank feed transactions in a test company file

If you notice there is a problem with your bank’s servers, then try to download bank feed transactions in a test company file. To do this go with the below steps.

  • Open your QuickBooks and click on the File menu, and next look for the New Company.
  • Click on Express Start or Start Setup.
  • Now, you need to set up your Bank Feeds for the defective account.
  • Next, download your transactions.
  • If you still are facing the error, there may be you have an issue with your bank. For this we recommend to reach your bank supports with a copy of your Bank Feeds logs and discuss your query with them.

Method 3: Check if the file from your bank is compatible with QuickBooks

QuickBooks only supports the .qbo file extensions to open the downloaded transactions. If in case your bank uses a different file extension, QuickBooks unable to open your company file.

If you want to see the problem is with your bank or the file type, then try to download transactions directly from your bank’s website. To do this check out the below steps.

  • First, log in to your bank’s website, but need to sign in outside of QuickBooks.
  • Look for the bank transaction and download the bank transactions in a .qbo file.
  • Now, import your transactions to QuickBooks.
  • If you still you are facing the error, there maybe you have an issue with your bank. For this, we recommend to reach your bank supports and discuss your query with them.

If you are able to import and view your transactions, then proceed to the next step.

Method 4: Refresh the connection with your bank

If you have inactive bank accounts, then turn off the online banking if you have one. Next, refresh the bank connection on the defective account. First, you need to check, you have inactive bank accounts with online banking. To check the account, go with the below steps:

  • First, click on the Company.
  • Next, go to the Chart of Accounts.
  • Click on the Include Inactive box. Next, find the inactive account with a lightning bolt (this implies the account is set up for online banking).

If you find any inactive account, then go with the below steps to turn off online banking. Unless you can set up Bank Feeds, next try to download your transactions.

  • Go to the inactive account and right-click on it.
  • Click on the Edit Account.
  • Next, click on the Bank Feed Settings tab.
  • Click on the Deactivate All Online Services, next click on OK.
  • Click on Save & Close.
  • Quit and reopen your company file.
  • Be sure the lightning bolt is not showing on your screen.

Note: While setting up, press and hold the Ctrl key every time you click on the button, except when entering info. This helps you to refresh the connection with your bank.

If you do not recognize or fix the error, there is an issue with your bank connection. It is fixed and your transactions are downloaded. Proceed to the next steps, if still, an error occurs.

Method 5: Create and merge accounts

Examine if there is a problem with your company’s file. Make a copy of the account, then merge it with the old one. Like this.

  • First, click on the Chart of Accounts.
  • Next, find out the affected account, and next click on the Edit Account.
  • Click and copy the account name.
  • Now you need to add the asterisk (*) at the end of the account name.
  • Next, go to the Bank Feeds Settings tab.
  • Click on Deactivate All Online Services, and click on OK.
  • Click on Save & Close.
  • Next, create a new account in the Chart of Accounts. Note: While setting up the account name, make sure to paste the text you copied previously.
  • Quit and reopen your company file.

Steps to merge the accounts

  • Open QuickBooks and click on the Chart of Accounts.
  • Look for the account with the asterisk and right-click on it, then next click on the Edit Account.
  • Exclude the asterisk, and click on Save & Close.
  • Next, click on Yes to merge the accounts.
  • Next, Set up the Bank Feeds.
  • Test if you can download transactions.

If still, you are able to edit or merge the accounts, you might have a damaged company file. We recommend you call your support agent or also connect with us for instant support. or you can proceed to the next step if an error still occurs.

Method 6: Turn off and set up online banking for other accounts

If you set up multiple accounts for online banking then first, you need to check from which account problem arises from one of the accounts. If any of the accounts have trouble connecting to the bank, this will affects the other accounts.

  • First, click on the Chart of Accounts, next click on the Include Inactive checkbox.
  • Next, Turn off, later set up online banking for each of the accounts.

Hope, these troubleshoot methods on how to fix OL and OLSU bank feeds will be helpful for you if in case you still have any difficulty and issue then feel free to contact us and get instant help from our Intuit Certified ProAdvisors.

Call Now