QuickBooks online banking is one of the important and pretty useful features in QuickBooks Desktop. It lets users reconcile the bank account quickly and gives you accurate data compiling to your system. This feature also lets you connect with your bank accounts or credit card directly into your QuickBooks Desktop. Sometimes, it happens when you may come across “QuickBooks Desktop OL and OLSU Bank Feed errors“. To overcome such kind of QuickBooks banking issues, go through this blog as it covers all the necessary information related to this bank feed error.
- 1 What are OL and OLSU Bank Feeds Errors in QuickBooks Desktop:
- 2 Reasons Behind OL and OLSU Bank Feed Errors:
- 3 How to Fix OL and OLSU Error in QuickBooks Desktop?
- 4 FAQ’s
What are OL and OLSU Bank Feeds Errors in QuickBooks Desktop:
OL and OLSU bank feeds are a common online banking and connection error. This can be experienced when using QuickBooks’ online banking feature due to some problems. An online banking issue is included in the OL and OLSU Bank Feeds sequence of errors. Some of the common online banking setup and connection errors for QuickBooks Desktop include OL-202, OLSU-1016, OLSU-1013, OL-203, OLSU-1011, OL-206, OLSU-1014, OL-205, OL-209, OL-231, OL-221, OL-232, and OL-249, OL-301, OL-332, OL-334, OL-392, and OL-393.
Reasons Behind OL and OLSU Bank Feed Errors:
- A problem or conflict with your bank (also called financial institution) include:
- Your bank could have altered their Web Connect or Direct Connect services.
- In a merger and change of name, the bank has been involved, and that needs to be refreshed in QuickBooks.
- You may have an active bank account and this is allowed for online banking in QB.
- The server in your bank might be temporarily down.
- There might be some issues with the Internet connectivity
- There may be a problem with one or more accounts in your business file for QuickBooks.
- There may be a problem with the download or import pattern.
- An outdated or older version of Windows OS or QuickBooks Desktop that you’re using.
How to Fix OL and OLSU Error in QuickBooks Desktop?
Here are the quick fixes to get rid of OL and OLSU errors in the QuickBooks desktop that usually encounter during the downloading or importing transactions. It is only advised you to perform the below-provided steps under every solution in the given order as mentioned and attempt once again your download transaction after every step:
Total Time: 30 minutes
Method 1: Enable TLS 1.2 Security Protocol, If available
The below-given steps can assist you to easily enabling TLS 1.2 in your latest Internet Explorer version.
🔹 Initially, Open IE 11 (make sure you have the latest IE version installed)
🔹 Next, go to the Gear Icon and click once within the Internet Explorer
🔹 Go to Internet Options and select Advanced Tab
🔹 Scroll down to find the Security section
🔹 Uncheck the USE TLS 1.0 box and check-in USE TLS 1.2
🔹 Click Apply and then OK button
🔹 Close all open programs and restart your system to take place the changes you’ve done
🔹 If the same error message still exists then continue the next step.
Method 2: Make a New Company Sample File
This step helps you to identify any issue that starts with your bank their servers.
🔹 First of all, go to the QuickBooks File menu, and then choose New Company, and then Express Start.
🔹 After that add a bank account (the one in which you were facing issues) in the created test company.
🔹 Now, you need to set up an account for the bank feeds.
🔹 Test the account by performing bank feed transaction downloads.
🔹 If the issue still exists, proceed with the next step.
Method 3: Run Account set up with the Ctrl key Suppressed
🔹 This step can bypass previously failed connections and can help you eliminate your bank’s partial, incomplete, or unsuccessful connections with the help of QuickBooks experts
🔹 Also visiting the Intuit official website, you can access step-by-step description information.
🔹 If you execute this step and the issue disappears, the QB Desktop online banking and connection error will result in a successful troubleshoot
🔹 You will be able to download the transaction. If the problem still remains unsolved, proceed with the next solution.
Method 4: Create a new Account and Merge Accounts
There can be problems/problems associated with setting up the account or even downloading financial transactions in several cases. These steps help you conclude whether that account is responsible for the issue.
🔹 You should clear out all pending financial transactions/reports before you enforce the following process.
🔹 This could include matching any financial transactions/reports previously downloaded that have not been matched.
🔹 Navigate to the “Chart of Accounts” option
🔹 Next, perform right-click on the account associated with the issue
🔹 Now, go to the “Edit Account” tab
🔹 Emphasize the “Name of Account” icon and click on the “Copy” button.
Within the account, the name is marked with an asterisk (*) at the end
🔹 Pick the “Deactivate All Online Servicesradio” tab in the “Bank Feed Settings” option
🔹 Click “Save” & then the “Close” icon
🔹 In the “Chart of Accounts” section, create or build a new account
🔹 Copy & paste the Account name without the asterisk (*)
🔹 Close & reopen the QuickBooks company file
🔹 Make a right-click with the asterisk (*) on the ‘Account’ tab, and then select the “Edit Account” tab in the “Chart of Accounts” tab
🔹 Remove the asterisk mark (*) & then, choose the “Save” icon& later the “Close” icon
🔹 When the warning message appears in the dialogue box. It will prompt you to choose the “Yes” icon
🔹 Set up/create an account for the ‘Bank Feeds’ purpose
🔹 Download financial transactions from the newly merged account.
In case, you do ‘NOT’ receive any QB error message: This implies that you have resolved the technical hassle/error associated with the account QuickBooks bank feeds not working. Your financial transactions have been downloaded & you can discontinue the fixation process.
In case, you encounter the same error warning message: This shows that the technical glitch did not initiate or associated with this account. If there are multiple accounts set up for online banking then you needs to deactivate online services.
These steps assist you in finding the source accounts in your company file if you own more than one account set up for online banking services. Often, this does not cause your online accounts to operate if you have only one account with an error that prevents it from connecting to the bank.
Note: This process might be time-consuming if you have multiple accounts set up for online banking.
The blog covered all the major information regarding how to fix QuickBooks Desktop OL & OLSU Bank Feed errors. Have you been struggling with such online banking issues using QuickBooks for a long time? Have you tried several times to contact the help of QuickBooks, but could not approach the right person successfully? No problem at all. Get the same quality experience as you get while using the services from the official Intuit technical support team. If you have any queries or need our assistance feel free and get in touch with the QuickBooks error support technical team at toll-free number, Email, do a Live Chat available 24*7.
How do I Deactivate all Accounts with online Services?
● Next, at the bottom of the Account Chart window, click the Include Inactive checkbox.
● Next, deactivate Bank Feeds then close and then reopen the file.
● Do the same for all inactive accounts.
● After that, you need to set-up every account for Bank Feeds.
How do I check the TLS settings within Internet Explorer?
● First, go to the Tools and select Internet options.
● Select Advanced and scroll to the Security section below.
● Checkmark the 1.2 TLS if not then choose the box to make it turn on.
● Select Ok and exit all open applications on your system.
● Finally, restart the system and then attempt once again to download the transactions.
How can I Reset the Bank Connection?
● Initially, turn off Bank Feeds for the account for which you have a problem.
● Turn on again to Bank Feeds. This refreshes the connection to your bank from QuickBooks. Perform the same task you attempted to do when the error occurred.