Fix QuickBooks Error OLSU-1011 (Bank Feeds Setup Error)

QuickBooks error OLSU-1011 is a type of bank feeds setup issue that occurs often when any user attempts to set up a particular account. It is also witnessed when users update their particular QuickBooks Desktop account. After the occurrence of the error, an unexpected message appears that disrupts the profile servers.

With this error message, the user fails to continue the setup and then attempts to set up the account. In today’s article, we will talk about the causes, symptoms, and effective solutions to fix the Bank Feeds setup error OLSU -1011 in your QuickBooks software.

Here is the error message for QuickBooks Error OLSU- 1011:

An unexpected issue occurred. The profile and branding servers are not accessible. Press Cancel to discontinue setup and then attempt to set up the account once more for online services.

What are the Primary Causes Behind the occurrence of the QuickBooks Error Code OLSU-1011?

Here is the list of the causes that trigger the occurrence of the QuickBooks Error code OLSU- 1011:

• When Your Company File is Equipped with Data Integrity Issues.
• When Your Financial Institution Directory is old and not Updated.
• When Your Bank Servers or Website are Undergoing the Maintenance Process.
• When Your QuickBooks Desktop Requires Updating.
• When You are not Working in the Express Mode, rather in the Classic Mode.

What are the Symptoms of QuickBooks Error Code OLSU-1011?

Here is the list of the Signs and Symptoms of QuickBooks Error Code OLSU-1011:

• Fail to Update or Save any details in the Banking Records.
• QuickBooks suddenly stops functioning or does not react to your actions.
• Discontinuation from the financial institution website.
• Particular tabs or buttons are greyed out in your QuickBooks account.
• Fail to shift to a different screen because QuickBooks screen freezes.

What are the important Steps to Perform Before Initiating the Troubleshooting for QuickBooks Error Code OLSU-1011?

Here are the prerequisites to perform before starting with the troubleshooting for QuickBooks Error Code OLSU-1011:

1. QuickBooks Desktop Update

In order to update your particular QuickBooks Desktop, implement the steps given below:

• Navigate to your QuickBooks Desktop. Now open it.
• Now press Help tab. Now search for the option, Update QuickBooks Desktop.
• Now press on the tab for Update Now available on the top. Now press on the option, Get Updates.
• After the update is finished, Now click Close. Next, Restart your system.

2. Take a Backup of the Company File

It is suggested to take a backup first, since, in case the process gets stuck anywhere, then you can get back to the same place again. Here is how you take a backup of the company file:

• Navigate to your QuickBooks Desktop. Now open it.
• Press on the File. Now press on the tab for Back-up Company. Now choose Create Local Backup.
• Now follow the instructions provided onscreen. Now take a backup of the company file.

Troubleshooting Steps to Fix QuickBooks Error Code OLSU-1011

Here are the Different Solutions to Fix QuickBooks Error Code OLSU-1011.

Troubleshooting 1: Talk to Your Financial Institution or Bank

It is suggested that you must connect with your bank or financial institution first since it is quite likely that the financial institution or bank is undergoing some major changes in the server. It is also possible that the website of the financial institution is corrupted or experiencing problems with QuickBooks Desktop.

In case any maintenance work is running, then for 24-48 hours you need to wait. If even after that the issues are not fixed, move on to the next solution.

Troubleshooting 2: Describe the Default Accounts for Your Company and Personal Preferences

Here are the steps to describe the default accounts for your company and personal preferences:

• First, Sign in to your particular company file using your Admin credentials. Now shift to a single-user mode.
• Now navigate to the Edit menu. Now press on Preferences. Now press Checking.
• Now, Navigate to the tab for My Preferences. Now click on the default accounts for the four options.
• Now navigate to the tab for Company Preferences. Now press on default accounts for the two options, Payroll Liabilities and Create Paychecks.
• Now press OK.
• Once all the steps are completed, you can attempt to set up the account once more for online banking.

Troubleshooting 3: Updating the Financial Institutions Directory

There are two options to update your financial institutions directory with the help of the steps given below:

Manual Update

• If you are having Windows 7, 8, or 10, then search for the particular fidir.txt file with the help of the path given below:
  • Pro/Premier- Pro/Premier: C:\ProgramData\Intuit\QuickBooks/XXXX\Components\OLB\branding\filist.
  • For Enterprise product: C:\ProgramData\Intuit\QuickBooks Enterprise Solutions XXXX\Components\OLB\branding\filist
• When you acquire this particular file and press right-click on it, then hit on the option for Rename.
• Now you need to rename the .txt to .old and then press outside the field in order the save the name change.
• Select your QuickBooks version to acquire the current file:
  • 2018
  • 2019
  • 2020
• Now navigate to the screen for Save As and press on Desktop. Now click Save.
• Navigate to your Desktop and search for the fidir.txt file and then press right-click. Now press on Copy.
• Now navigate to the Start Button and press right-click on it. Now press My Computer.
• Now open the particular filist folder.
• Now press right click on the folder anywhere. Now paste.
• Finally, Quit and the open QuickBooks once more.

Automatic Update

• First, Press on banking. Now press on the Bank Feeds and search for the particular Bank Feeds Center. Now press on it.
• Now on upper right side, Press on the icon for reload or refresh or press on Sync All from the available dropdown.

Troubleshooting 4: Shift to Express Mode

When you shift to a different modem, it is imperative that you check the QuickBooks Desktop whether it is updated or not to its latest release. Also, please ensure that single-mode is present functioning.

• Open QuickBooks. Now navigate to the Edit menu. Now press on Preferences.
• Navigate to the left pane. Now press on Checking. Now shift to the tab for Company Preferences.
• Now press on the section for bank Feeds. Now press any of the following:
  • Express Mode: This particular mode uses the window for Transactions List to include or match any particular transaction list. In this particular mode, renaming rules are made automatically.
  • Advanced Mode: It access the Transaction Lists screen to match or add a transaction list. It is possible to upgrade the transactions for the future matches instantly or also issue rules to recognize automatically and match particular transactions from your given books.
  • Classic Mode: This particular mode uses the account register to include or match transaction. The Pseudonyms match correctly the names when aliases are made.
• Press OK.

Troubleshooting 5: Deactivate Bank Feeds and then Reactivate them

Here is how you deactivate bank feeds:

• First, Press on the lists. Next, Navigate to the option for Chart of Accounts.
• Now search for the account from the provided list that gives rise to this error and press right-click on it. Now click Edit Account.
• Now navigate to the tab for Bank Settings.
• Press on Deactivate All Online Services.
• Press on the option for OK.
• Finally, Press on the option for Save and Close.

Here is How to Reactivate Bank Feeds:

• Press on the option for lists. Now navigate to option for Chart of Accounts.
• Now search for the account from the provided list that gives rise to this issue and press right-click on it. Now press on the option for Edit Account.
• Now, Navigate to the Set Up Bank Feeds. Now press on the option for Yes to delete all the screen when QuickBooks is open.
• Now a notification will appear on your window and will request you to introduce the name of your bank and then press on Continue.
• Now, Navigate to the Next screen and then enter the Username and Password of your bank and select Connect.
• QuickBooks may take some time to look for your bank accounts. When QuickBooks locates the link with the related existing account, Select Next.

Troubleshooting 6: Run the Verify and Rebuild Utilities

Here is How You Run Verify Utilities:

• First, Navigate to the QuickBooks Desktop.
• Now press on File and then press on Utilities. Now navigate to the Verify Data option.
• Choose Ok and shut down all the screen that are open.
• In case QuickBooks is unable to locate any issue with your data, then choose OK.
• In case QuickBooks finds any issue with your particular data, Press on Rebuild.

Here is How to Run Rebuild Utilities:

• Start with press on the File. Now, Navigate to the tab for Utilities and press on the option for Rebuild Data.
• Choose OK and now press Save to take a backup.
• After the rebuild is over, Navigate to the option for View Results.
• As an outcome, You discover zero issues.

How to Shift QuickBooks Desktop to a Single User Mode during the Error Code 1011?

Here are the steps to switch QuickBooks Desktop to a Single User mode during the error code 1011:

• First, you need to log out from all the possible systems that are connected to your QuickBooks.
• Now log in again.
• Now, Navigate to the file option.
• Press on the option for Switch to Single User.

We hope that this article will work as a guide for you on the error QuickBooks OLSU 1011. However, if you still feel confused and seek professional guidance for the same, then you can reach out to our team of Dancing Numbers experts.

Promising confidentiality, our team of skilled experts are adept and proficient in their line of work. For all kinds of assistance on QuickBooks and its related errors.

---

Frequently Asked Questions