Rectifying OL and OLSU Bank Feeds Errors in QuickBooks Desktop

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Are you facing OL and OLSU Bank Feeds errors in QuickBooks Desktop? Don't worry, this article will help you to troubleshoot these errors quickly.

QuickBooks has a web-based accounting system which is one of its best features. This function aids the user in tracking his/her finances. But this feature is prone to various OL and OLSU Bank feeds errors in QuickBooks. These include Error codes OLSU-1013, OLSU-1016, OL-203, OL-205, OL-209, OL-221, OL-231, OL-332, OL-334, OL-392, OL-232, and OL-249.

What causes QuickBooks bank feeds errors?

  • In case there is any issue with the bank
  • If the user is having pending alerts on the online bank account that is to be acknowledged.
  • Or the bank changed their service offering to web or direct connects.
  • The user is having an inactive bank account in QuickBooks, especially the one having online banking.
  • The bank’s information isn’t updated on the financial institution’s directory in QuickBooks.
  • Also, if there is any issue with the servers.
  • This error could happen if the user has set up a version of QuickBooks that isn't supported or if there is a problem with the internet link.
  • Error in the company bank accounts.
  • If the user is using an old version of Internet Explorer or if the bank file isn't compatible with QuickBooks, the user may face bank feeds errors.

Important pointers

  • The user needs to download the most recent version of Internet Explorer.
  • Check to see if the firewall isn't preventing access to QuickBooks.
  • Another crucial factor is making sure you can access the bank's website without using QuickBooks.
  • It is advised to match any downloaded transactions that are still pending.
  • It's also essential to backup the company file.
  • The user must ensure that QuickBooks is running on the most recent version; if not, consider updating it.

Methods to fix OL and OLSU Bank feeds error in QuickBooks Desktop

To fix OL and OLSU Bank feeds error in QuickBooks Desktop, you can follow these steps:

Fix 1: Checking the Internet security requirements

  • The first step is to open the Tools tab.
  • Click on Internet Options.
  • The next step is to click on Use TLS 1.2. The user is then required to select the advanced option and go to the Security option.

  • Try downloading the transactions after restarting the PC.

Fix 2: Download bank feed transactions in Test Company

  • Run QuickBooks as an admin.
  • Click on the File menu and hit on New Company.
  • Pick Express start

  • Follow up by setting up bank feeds for the affected account.
  • Try downloading the transactions.

Fix 3: Checking if the file from the bank is compatible with QuickBooks

Fix 4: Refresh the bank connection

  • Go to the Open company option.
  • Now, click on Charts of accounts.
  • Also, choose Include inactive box.
  • And then, click on inactive account.

  • In case the user is able to spot one, then here is how to turn off online banking.
  • Right-click on the inactive account option.
  • Hit on the edit account option.
  • Navigate to the bank feed settings option.
  • Pick the option to deactivate all online services.

  • Hit on Ok.
  • Click on Save and close.
  • And then, close and reopen the company file
  • Now, set up bank feeds and download the transactions.

Fix 5: Create and merge the accounts

  • Click on Charts of accounts.
  • Then, right-click the account that is affected.
  • Hit on the Edit account option.
  • Copy the account name.
  • Add an asterisk after the account name.
  • Select the bank feeds settings.
  • Click on "Deactivate All Online Services" option.

  • Now, click on Save and Close.
  • Create a new account in the chart of accounts.
  • Also type the previously copied information while setting up the account name.
  • Complete the procedure by closing and reopening the company file.
  • The next step is to merge the accounts.
  • For this, the user needs to visit the chart of accounts
  • And then right click the account with the asterisk. Also select the edit account tab
  • Now, remove the asterisk and also choose the save and close options
  • Now, choose yes to merge the accounts
  • Followed by setting up bank feeds

  • And then test if you are able to download transactions.
  • In case the user is unable to edit or merge the accounts, then the user might have a damaged company file.

Fix 6: Turning off and setting up online banking for other accounts

  • Navigate to the chart of accounts.
  • Opt for selecting the Include inactive checkbox.
  • After that, turn off and then set up online banking corresponding to each account.

Summing Up!

This should help users in fixing OL and OLSU Bank Feeds Error in QuickBooks Desktop. If you face any hindrances, just reach us out at the helpline i.e., 1-800-761-1787. Our QuickBooks desktop error support team will be happy to assist you.

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