One of the vibrant features of QuickBooks is Bank feed. This feature establishes a connection between your bank and a credit card account and feeds the transactions automatically. Once the data gets imported you can match them with the transactions already present in your database. But there are times when you may face “QuickBooks Bank Feeds Error” or QuickBooks bank feeds not working. Well, in such scenario it is important that you keep the help at hand.
To further automate the software, bank rules can be used to set the conditions that QBO will use to code your transactions. By adding and matching the transactions in the Bank feed it gets marked as cleared.
- 1 QuickBooks Bank Feeds Error:
- 2 There may be Several Reasons behind QuickBooks Bank Feeds Error:
- 3 Troubleshooting Steps for QuickBooks Bank Feeds Error:
QuickBooks Bank Feeds Error:
Setting up Bank feed properly is very important but occasionally the things may go wrong with the technology. While setting up your Bank feed, there may arise an error, which may read like,
QuickBooks has encountered OL or OLSU Error code.
Some of the common setup and connection error that one may encounter are:
OLSU-1011, OLSU-1013, OLSU-1014, OLSU-1016, OL-202, OL-203, OL-205, OL-206, OL-209, OL-231, OL-232, and OL-249. OL-301, OL-332, OL334, OL-392, and OL-393.
There may be Several Reasons behind QuickBooks Bank Feeds Error:
May be triggered either by a bank or by the internet. These may include:
- The bank may have changed the names of the files that are required to be updated in the QuickBooks.
- Your online banking facility may not have been activated.
- They may have changed from internet access to direct access.
Problems that you may encounter with this error
There may pop up many types of problems when you encounter QuickBooks bank feeds not working. These include:
- The windows version that you are using, does it support the QuickBooks version that you have installed?
- Are you using the latest version of QuickBooks?
- Have you successfully downloaded the transactions from bank to the QuickBooks company files?
- Can you log into your account through internet outside the QuickBooks?
Troubleshooting Steps for QuickBooks Bank Feeds Error:
Here is mention the troubleshooting steps for QuickBooks Bank Feeds Error. Well, in such scenario it is important that you keep the help at hand.
Total Time: 15 minutes
Step 1: If TSL 1.2 Protocol is Available then Enable it. Otherwise, Steps to Enable the Protocol in your Latest Internet Explorer.
🔹 Open the internet explorer and click the gear icon on the upper right section.
🔹 On the internet, option-click the Advanced tab.
🔹 In the security section, uncheck the TSL 1.0 option and instead of that enable the TSL 1.2 option.
🔹 Select apply and click ok
🔹 Restart your computer.
If you still get the same error. Follow the next step.
Step 2: Test Company file
The following steps will help you to detect whether the error is generated because of the Bank or Banks server.
🔹 Click New Company from the QuickBooks file menu and click on express start.
🔹 The bank account chart which was prompting error, add it to the newly created test company.
🔹 Bank Feeds account is needed to be set up now.
🔹 To test account, download the Bank Feed transactions.
The error that you were receiving before if it still prompts then it indicates that the problem is with your bank. Contact your bank and verify your account information. Contact the bank official who has knowledge of QuickBooks. If the bank is unable to find out the error then request them to escalate the case or simply connect QuickBooks support team.
If the error message does not come back this means the error is not with your bank. Please continue with the next step.
Step 3: Suppress CTRL key and Run Account Setup.
These steps will help you to recover the failed or unsuccessful connection by bypassing the previous incomplete connection with the bank.
🔹 QuickBooks Company file is needed to be backed up.
🔹 Check for Lightning Bolt in your inactive QuickBooks account.
🔹 Accounts online services should be deactivated.
🔹 Run again the Bank Feed setup holds the CTRL key each time you click any command.