QuickBooks Error: “Unable to Verify the Financial Institution”

by James Antonio

The most common term that you must be associated with when said ‘.QBO files’ is Web Connect Files. The main purpose of this file is to record online banking transactions and can be fetched by downloading from your bank’s respective website.

Save Time, Reduce Errors, and Improve Accuracy

Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software.

.QBO files once saved to your computer, can later be imported into the transactions for inputting in the bank feeds. Here’s where you would find the message “QuickBooks is unable to verify the Financial Institution Information for this download”.

This article will help you to fix unable to verify the Financial Institution Information error with the help of guiding steps.

What is Unable to Verify the Financial Institution Information Error?

On QuickBooks, you are allowed to access along with managing records, company files, etc. However, at times, you might encounter few technical glitches which can be blissfully resolved as well. One of such errors is unable to verify the Financial Institution Information error. This typically arises when QuickBooks has been denied from accepting a particular Bank ID.

There will be a message which will show as “QuickBooks is unable to verify the Financial Institution Information for this download” when you would be trying to either import or download transactions from your restive bank.

There can be many reasons leading to the rise of the unable to verify the Financial Institution Information error. Scroll down further to understand a few of the vitals behind unable to verify the Financial Institution Information error to cause.

Why does Unable to Verify the Financial Institution Information Error occur?

There are a few of the significant reasons why does the unable to verify the Financial Institution Information error occur:

  • If you are using QuickBooks which hasn’t been upgraded to its latest version, you would be unable to import .QBO files.
  • QuickBooks is not permitting integration with your bank/financial institution/credit card/credit card company.
  • .QBO file has not been downloaded properly or it might not be compatible with your existing QuickBooks’s version.
  • Use of third-party applications while creating .QBO file from Excel/CSV.
  • If the .QBO file has been downloaded from any American bank and imported to a Canadian QuickBooks version. If the same has been done vice versa, even in that case too unable to verify the Financial Institution Information error might occur.

How to Fix Unable to Verify the Financial Institution Information Error?

To fix unable to verify the Financial Institution Information error, there are technically five relevant troubleshooting methods that have been proven to be of help.

Let’s understand each one of them and map the respective steps involved for fix unable to verify the Financial Institution Information error.

Phase 1: Downloading The Web Connect

Step 1: Login to your respective bank’s website.

Step 2: Locate the web connect to file and download it.

Step 3: Open QuickBooks, followed by the opening company file.

Step 4: Start importing the .QBO file by following the instructions popping up on the screen.

Step 5: If you still facing the same issue, get in touch with your bank.

Phase 2: Verify File From Bank

Step 1: Ensure that the file which you have downloaded from the bank’s site has the file format to that of a .QBO file.

Step 2: Hop on to the next phase if it’s a .QBO file. If not, you need to again login to your respective bank’s site and download the file .QBO format.

Phase 3: Reviewing Bank Notification

If your bank has undergone certain changes in how it supports the QuickBooks application, they must have notified you of the same. Login to your respective bank’s site and locate for such notification and get guided by the instructions. You might be prompted to verify your identity before accessing QuickBooks data.

Phase 4: Enabling Banking Mode

Step 1: Open QuickBooks.

Step 2: Choose Banking.

Step 3: Locate Bank Feeds and select Change Bank feeds mode.

Step 4: Choose Classic Mode (Register Mode).

Step 5: Follow instructions for importing .QBO file.

Phase 5: Creating Test File

(This is to ensure if you have some problems with the company file)

Step 1: Take your cursor on file and locate the company file.

Step 2: Select Express Start.

Step 3: Add the word TEST to the respective company file’s name so that it becomes easy for you to recognize.

Step 4: Import the .QBO file along with the transactions into the bank account on which you are encountering the problems with the company file.

Step 5: Check if you can import the file.

Step 6: Check if you can view the transactions in the company files. If yes, there must be some problem with the settings.

Now effortlessly solve the unable to verify the Financial Institution Information error like a pro!

If you still find difficulties in solving the unable to verify the Financial Institution Information error, or are stuck at some step, we are here for you.

Accounting Professionals, CPA, Enterprises, Owners

Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number 1800-689-5491 or chat with experts.


Is there any Temporary process or method to solve the Unable to Verify the Financial Institution Information Error?

Yes. There is a tentative method that can help solve unable to verify the Financial Institution Information error:

Locate fidir.txt file
Open the file with Notepad
Open C:\ProgramsData\Intuit\Quickbooks20XX\Components\OLB\branding\filsit
Locate the respective bank name and find 4 sets of numbers (like the one on the debit card) and note it down
Look for , once you have opened .QBO file via Notepad
Replace the number which you will find beside ‘FIDIR’.
Save changes
Open company file and start importing it

How can I open the Company File in Notepad/Excel?

To open the QuickBooks on either Excel or Notepad, the following steps would guide you further:

Choose line 20 – 2002
Replace the ending 4-digits to 3000
Save the file and ensure the changes are not lost
Upload the company file

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

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

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

img

Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

img

Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

img

Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

img

Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


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.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

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

Call Now +1-800-689-5491
Dancing Number

Kindly Provide The Following Information To Download The Dancing Numbers.

X





    Top