How to Fix QuickBooks Desktop OL and OLSU Bank Feed Errors

by James Antonio

Have you ever received OL and OLSU Bank Feed Errors? No worries, this module is dedicated to share the knowledge about the troubleshooting steps to fix this common error. However, if you are not a tech expert and want a quick guidance to resolve this issue.

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What can be the Reasons Behind OL and OLSU Bank Feed Errors?

QuickBooks online banking errors may occur due to the below-mentioned reasons:

  • A dispute with your bank (also called financial institution).
  • The bank may have changed the services.
  • You may have an active account with your bank, and that is enabled for Online Banking in QB.
  • The bank server could be down for some time.
  • There can be the internet connection issue.
  • There can be the issue with one or more than one accounts in your company file.
  • There can be the issue with the download.
  • A discontinued, ancient version of QuickBooks Desktop.

Prior to Move to the Troubleshooting Part:

Many banks are required to identity confirmation prior to access any data from Personal Finance Management software (PFM). You are required to log in to your bank account using a system apart from the QuickBooks Desktop to connect with bank and verify your Message Center or inbox for further details. You can also contact to the bank if necessary.

Steps Fix OL and OLSU Error in QuickBooks Desktop:

Kindly perform the below-mentioned steps in the sequence as mentioned and try to download post every step:

Step Number One: Authorize TLS 1.2 Security Protocol, if Available

The below-mentioned steps will be helpful for you to enable TLS 1.2 in the newest version of Internet Explorer.

  • Open IE 11 in you the newest IE Version installed.
  • In the Internet Explorer Click on the gear icon once.
  • Navigate to Internet Options and choose Advanced Tab.
  • After that, Scroll down to find Security section.
  • Click to uncheck the USE TLS 1.0 box and mark check in USE TLS 1.2.
  • Hit on Apply option.
  • Now, Hit OK button.
  • After that you are required to choose open programs and reboot your computer for changes to take place.
  • You are required to continue to next step, if the same error message exists.

Step Number Two: Build a New Company Sample File

The below-mentioned steps will help you to identify any issue that starts with your bank their servers.

  • Firstly, you need to go to the QuickBooks File menu, and after that select New Company, and later Express Start.
  • Once it’s done then,add the bank account in which you have the issue in the created test company.
  • After that, you are required to setup account for bank feeds.
  • Here you are required to test the account by conducting bank feed transaction downloads.
  • If you still face the issue, please move on to step 3.

Step Number Three: Run the Account Setup with the Given Ctrl Key

This step is helpful to skip the connections which are previously failed and can alsohelpful for you to do away with partial, incomplete or unsuccessful connections with your respective bank. If there is any difficulty for you to access details of step by step description you can always reach out to the QuickBooks experts.

If the issue disappear after performing this step, it would translate to the successful troubleshooting of QB Desktop online banking and connection error, and user will now be able to download the transaction. Let’s move forward to the next step if the issue still exists.

Step Number Four: Create a New Account and Merge Accounts

In numerous cases, there can be issues aligned with setting up the account or downloading the financial transactions. The below-mentioned steps will assist you to wind up if the issue occurs due to that account.

Before you go with the below-mentioned steps, you are required to clear all the pending financial transactions/reports. This may require to match any formerly downloaded financial transactions/reports which are not been matched previously.

  • You need to go to the “Chart of Accounts” option; Click right on the account associated with the issue.
  • Now Select, the “Edit Account” tab.
  • Highlight the “Account Name” icon, and then click onto the “Copy” tab.
  • You are required to enter an asterisk () mark at the end in the account name.
  • In the “Bank Feed Settings” option, then choose the “Deactivate All Online Services radio” tab.
  • Now, select the “Save” icon & after that “Close” icon.
  • In the “Chart of Accounts‘ section, you need to create or build a new account.
  • Mention the Account name without the asterisk ().
  • Now, close & reopen the QuickBooks Company file.
  • In the “Chart of Accounts” tab, you need to hit the right click on the ‘account’ with the asterisk () mark, and then select the “Edit Account” tab.
  • Eliminate the asterisk () mark & then, select the “Save” icon & later “Close” icon.
  • While the warning message appear in the dialogue box. It will prompt you to select the “Yes” icon.
  • Here you are required to create an account for the ‘Bank Feeds‘ purpose.
  • Now, you can download financial transactions from the new merged account.

Step Number Five: Get in Touch with Your Bank

QuickBooks users get the help in recovering errors from their end from all the banks which support QB online banking. Below are some basic things mentioned below which you are required to know:

  • Prior contacting your bank to seek any assistance, you need to collect all the log files of bank feeds.
  • QuickBooks conduct online banking, and therefore, many of the OL and OLSU series online banking and connection errors needs to be fixed by financial institutions.
  • If the error is not yet resolved, you need to ask bank executive to contact and transfer the concern to online connectivity group of Intuit.

This article is created to provide quick and easy options to get rid of from OL and OLSU errors. However, if you require any further assistance regarding the same error or any other QuickBooks related issue, you can always contact our Dancing Numbers experts team.

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What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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