Since its launch, the QuickBooks Desktop software has been at the top of the accounting software market. This software is one of the top priorities for various bookkeepers and accountants due to its user-friendly design and frequent upgrades to all federal rules and features in accordance with changing times.
The software’s main flaw is that it is prone to various errors and issues, although most of these issues can be resolved with the help of some manual solutions and tools that comes straight from the house of Intuit. Talking about the errors and issues, quickbooks bank feeds not working 2021 is one of the issues that many users have lately reported. In this blog, you will discover more about the quickbooks bank feed error 355 Issue.
Causes of quickbooks bank feeds not working 2021
The root causes of the quickbooks bank feeds not updating Issue are as follows:
- The data wasn’t verified and rebuilt: Not verifying and rebuilding the data can be one of the reasons behind the quickbooks online bank feeds not working 2021 issue. Verify Data self-identifies the most frequent data problems inside a Company file, while Rebuild Data self-resolves most of the data integrity concerns found by Verify Data.
- User information that is incorrect: Wrong user information is one of the primary reasons behind the quickbooks bank feed error ol-221 issue. Incorrect user information means the personal details such as user id and contact info that you put are wrong can lead you to this issue.
- Bank server not working: Sometimes, bank server not working can also lead you to qbo bank feed error 105 issue. If you get this error and your bank’s server is down, you should wait at least 24 hours for the bank to respond. They may be working on it, so waiting patiently or speaking with one of their employees will inform you of the precise time it will take.
- In QuickBooks, there are OL and OLSU Bank Feed: OL and OLSU Bank Feed errors in QuickBooks issue goes hand in hand. This mainly occurs when the bank had changed web connect or some change that might lead you to this particular error. Talking to one of the banking representatives may help you understand the exact problem behind the same.
These are the leading causes that will help you comprehend the quickbooks bank feeds error olsu 1013 issue, and now that you know what’s causing it, you should learn some of the manual solutions described in the following section.
How to fix bank feeds error in quickbooks
QuickBooks Desktop software is prone to various problems and difficulties, which may all be resolved using tools like QuickBooks Tool Hub and QuickBooks File Doctor.
Both of these products are available for download on Intuit’s official website, and they are both free.
However, you will find some manual methods in this blog that will assist you in resolving quickbooks bank feeds not working 2021 Issue, which is as follows:
Fix OL and OLSU Bank Feed errors:
You can fix the quickbooks bank feed error 355 issues by fixing the OL and OLSU Bank Feeds error cause as already mentioned on the root causes, both of these issues are connected, so first fixing this one may help you to resolve the issue and to do that you need to apply the following steps:
- Examine Your Internet Security Needs
- Check If Your Bank’s File Is Compatible With QuickBooks By Downloading Bank Feed Transactions In A Test Company File
- Renew Your Relationship With Your Bank
- Accounts Can Be Created And Merged
- Turn off online banking for other accounts and re-enable it.
These are the steps that you need to take and help yourself fix the OL and OLSU Bank Feed errors, and that may lead you to fix the issue. But if in case you still facing the error, then you try the next solution.
It’s time to update the Financial Directory
Updating the Financial Institution directory can help you fix this particular issue. Update your Financial Institutions Directory in QuickBooks Desktop automatically or manually to guarantee you have the most up-to-date information from your financial institution, and to do that, and you need to follow the steps that are given below:
- On Windows 10, 8, and 7, look for the fidir.txt file.
- Select Rename from the context menu when you right-click fidir.txt.
- To save the name change, change.txt to.old and then click outside the box.
- To obtain the most recent file, choose your QuickBooks version.
- Select Desktop in the “Save As” box, then Save.
- Right-click the fidir.txt file on the Desktop, then choose Copy.
- Select File Explorer then This PC from the Start menu by right-clicking the Start button.
- Paste by right-clicking anywhere in the folder.
- QuickBooks Desktop software needs to be restarted.
These are the steps that will help you update the financial institution’s directory and help you that may help you to fix the quickbooks online bank feeds not working 2021 issue. You have another option to resolve the issue, so reading the next solution can help you fix it differently.
Alter the banking modes
Switching between banking modes can be one of the solutions for the issue. There are two types of banking modes which are:
- Express Mode: In this mode, you add or match transactions using the Transactions List window. Renaming rules are automatically generated and are more flexible than in Classic Mode. Click the Transaction List button to see the downloaded transactions list. Instead, you will see the Download Transactions button if no downloaded transactions are available for adding and matching.
- Classic Mode: To add or match transactions, this mode utilises the account register. Aliases are names that are matched precisely, and you have control over when they are generated. Click the View button to see the transactions and begin adding and comparing them.
These are the two modes, and if you need to switch between them, then you need to follow the steps that are given below:
- Check to see whether your QuickBooks Desktop is up to date.
- Double-check that you’re in single-user mode.
- Select Preferences from the Edit menu.
- Select Checking from the left pane, then the Company Preferences tab.
- Click on the option you wish to use in the Bank Feeds section.
- Tap on Ok.
You must read the following and your solution to resolve this error so that you have more options in your hand to fix the quickbooks bank feeds not working 2021 issue.
Activate Bank Feeds
Turning on the bank feeds may help you to fix the issue, and to do that, you need to follow the steps that are as follows:
- Go to Bank Feeds from Banking.
- Set up Bank Feeds for a particular account.
- Enter and choose your bank in the Enter your Bank’s Name box.
- Tap on Continue.
- Your Online Banking ID and Password must be entered.
- To connect your QuickBooks to your bank’s server, choose Connect.
- Choose the bank account you’d want to link.
- When the connection is complete, choose Finish.
Also, updating the QuickBooks Desktop software to the most recent version may be a viable option for resolving minor errors and problems.
Please make sure your software is up to date since this will help you prevent errors like this and allow you to use the latest capabilities and features.
In conclusion, QuickBooks Desktop software is accounting software that helps you manage the books and accounts of a particular organisation.
The software has always been top-rated and loved by almost all categories of bookkeepers, accountants, and freelancers of late. But like any other accounting software, this software is also prone to different errors, and issues and QuickBooks Bank Feeds not working is one of them. In this blog, you will learn more about the error and aspects such as root causes and fixes related to the same, so please read the whole blog carefully. I hope that this blog proves to be helpful and was worth a read.