How to Solve Issues with Online Banking

One of the most commonly used features ofQuickBooks is their online banking. It not only allows for easier and more accurate input of data into the system, but it can also make the reconciliation process quick and easy, provided that there are no duplicate or missing transactions. Online banking allows you to connect credit card and bank accounts to QuickBooks. This way, you don’t need to manually enter transactions, just download or import, then match, and add to your register.
As the name implies, you need an Internet connection to use this feature. Also, your financial institution needs to offer this service. Once you have met these two requirements, then you are ready to activate your QuickBooks online banking. However, you may encounter errors when setting it up, when downloading transactions, or while working on downloaded transactions either when using QuickBooks Online or the desktop version.
Errors and Fixes for QuickBooks Desktop Online Banking
When working on QuickBooks Desktop, it is always important that you have a supported version of the program to continue using some of its features, such as online banking. This does not mean that you need to have the latest version, but you must have a version that less than two years old (counting back from May 31st of the current year). It is also recommended to always install the program on a computer that meets the system requirements.
Error codes that start with"OL" and "OLSU" are common when activating online banking or when downloading new transactions. There are several possible reasons for these errors:

1. Bank/financial institution issue. There are instances when the bank server is down that can temporarily keep you from banking online. There are also occasions wherein the bank has changed its name, making it necessary to change it in QuickBooks as well. It is also possible that the bank changed their method for online banking – from Direct Connect to Web Connect or vice versa. Last, the bank account in question might be inactive.
2. Internet connection problem. When on Direct Connect, an Internet connection is required to complete the process. But with Web Connect, the file can be imported to QuickBooks even without an Internet connection, as long as it was already downloaded from the bank’s website.
3. Problem with the bank or credit card account in the company file. Minor account damage may cause errors when doing online banking. Or oftentimes, there is really no damage, but the account or online banking connection just needs to be refreshed in QuickBooks.
4. Issue with the format of the file being downloaded or imported. This may be related to issues with the bank and/or the version of QuickBooks that you are using.
5. Unsupported system or QuickBooks version. One of the services that would also stop when a QuickBooks version is discontinued is online banking. You may receive one of the OL or OLSU errors in this case, but most probably, it is a message that “QuickBooks is unable to verify the Financial Institution Information for this Download.”

To isolate what is causing the problem, verify the following before proceeding with further troubleshooting steps:

1. The Firewall and Internet security settings allow QuickBooks to perform the task; also check that they are up-to-date.
2. Confirm QuickBooks was updated to the latest release.
3. Try logging into your bank’s website outside of QuickBooks; an inability to login may mean that the bank is experiencing an outage.
4. Switch to Classic/Register Mode (Edit Menu -> Preferences -> Checking -> Company Preferences -> select Classic Mode if the setting is currently on Express Mode), and check whether the issue persists. The ability to download or import while in this mode may mean that there was a change in the format of the file being downloaded.

If the issue is still unresolved after the above steps were completed, below are some other things that can be performed. But as always, it is important to create a backup of your company file before doing any troubleshooting steps.

1. Check for Inactive Accounts that are still activated for online banking(Chart of Accounts -> put a check mark to Include Inactive). Look for the inactive account that still have a lightning bolt; this symbol indicates that the account is still activated for online banking. Thus, the program will not allow another QuickBooks account to be activated for online services for the same bank account. To fix this, deactivate the online services for the inactive account, make sure that the lightning bolt is gone, and then close and reopen the company file. Try to set up online banking again.
2. Bypass a connection error with the Ctrl key. If the error persists after doing the step one, open the Online Banking setup again, but make sure to hold down the Ctrl key when clicking on any command and when downloading transactions. If you successfully downloaded your transactions, a slight connection issue between QuickBooks and your bank has been successfully bypassed.
3. Create a test company file (File menu -> New Company -> Express Start). This is a common method of checking whether the issue is with the QuickBooks file or with the bank’s server. Set up the bank account in question in this new file and attempt to activate the online banking. If the same error exists, then it is a bank issue; but if you successfully downloaded transactions, then it might be a QuickBooks account or file issue.
4. Create a new account. After taking care of all the pending transactions from previous downloads, check whether the problem is with the QuickBooks account. Edit the account (Chart of Accounts -> select the account and choose Edit Account), add an asterisk ("*") to the end of the account name to indicate that it is the old account, then deactivate its Online Services. Create a new account and name it exactly the same as the problem account, but without the aserisk. Close and reopen the file, then merge the old account into the new one by editing and removing the * from the old account. Select Yes when prompted to merge the accounts.

Tough figuring this stuff out? Check out our QBO services.
On some occasions, you may not be able to merge the accounts or deactivate the Online Services. This may mean that there is a more serious data damage, which often requires the file to be sent to Intuit’s Data Services team.
Common QBO Bank Feed Errors

1. Error 102 – Either the bank’s website is under maintenance or there is a connection problem between QBO and the bank’s server. Verify whether the bank’s website is under maintenance. If not, manually update your account within QBO (Transactions -> Banking -> Update). If there is an indication of a website or server issue, allow at least a day for the issue to be fixed.
2. Error 103/310 – Error 103 means that the login credentials entered in QBO are not being accepted by the bank’s website, while 310 means that QBO stopped processing the login request to avoid being locked out. A Verify your credentials link is included in the error message; open it and ensure that you manually type the user name and password instead of using auto-fill. Log out of the bank’s site and enter the user name and password into QBO, then Update Sign-in Info.
3. Error 105 – This usually means that the bank’s website is down. Again, attempt to open the website outside QBO to validate. If it's not a website issue, do a manual update within QBO.
4. Error 106, 168/324 – These errors means that QBO cannot find the account on the bank’s website. A Fix It link may be available after getting the error message; if not, then it might be a website maintenance issue.
5. Error 108 – An action needs to be taken for a message from the bank, such as new terms of service or a special offer. Log into the bank’s website and acknowledge the message.
6. Error 109 – The bank needs the password to be updated. Change the password via the bank’s website, then update it in QBO.
7. Error 155 – There is no available connection between the bank and QBO.
8. Error 185 – Additional security information that is not being stored in QBO is required by the bank. This usually occurs during automatic updates after the cookie where the needed information is stored expires. Reset the cookie by running 3 or 4 manual updates. If the additional information is still being requested, automatic updates would not work, so download new transactions through manual updates.
9. Error 192 – QBO cannot download transactions automatically because of additional security required by the bank, such as different codes that need to be entered every time.
10. Error 323 – This occurs when there are two accounts with the same account name and almost the same account number. Try to edit one of the names of the accounts on the bank’s website before adding it to QBO. This error can also occur when the same account is added twice to QBO.
11. Error 325 – This means that the download process is still in progress. It occurs when the account is manually refreshed while downloading transactions.

Using Web Connect
As an alternative to Direct Connect, which is the automatic downloading of bank transactions inside QuickBooks, Web Connect can be utilized specially when dealing with bank-related issues that may take a day or more to be resolved. Web Connect is available for both QuickBooks Desktop and QBO. It is also the solution if your financial institution no longer offers Direct Connect. This option also allows you to download and import the transactions beyond the last 90 days.
Before switching to Web Connect, make sure to first deactivate the Online Services for the account in QuickBooks. Then login to your bank’s website and verify that you can download a .qbo file of your bank transactions. As opposed to Direct Connect, Web Connect needs you to download the file from the bank’s website, save it to your computer, and import it into QuickBooks. But the process of matching and adding the transactions to the register is the same.

For additional QuickBooks Training call Mike McVay, Accountant at Pensacola Bookkeepers - 850-725-5696