How to Get Over QuickBooks Error OL 301 In Easy Steps?
by Sprink Davis Accounting and BookkeepingIf you use QuickBooks regularly, you might have encountered numerous QB errors on your desktop. Those errors, after being combined, are called error messages or code. Such errors restrict the flow of users experiencing the software and also hinder user performance. In this blog, we intend to How to Fix Error Code OL-301 in QuickBooks Desktop? which is one of the common error from QuickBooks error code lists.
We often need help with this error when
there is a connection problem with the financial institution for direct
connection. In addition, we will manifest the causes and symptoms of this error
and evaluate various methods to troubleshoot this error.
What is QuickBooks Error OL-301?
This error is a series of bank feed errors
that occurs while doing online banking. It is a common online banking error
that occurs when the software is unable to connect with your bank's website.
This error can occur due to various reasons, such as incorrect login
credentials, outdated software, or issues with the bank's server.
This error can also occur due to incorrect
login credentials, outdated software, or issues with the bank's server. When
you encounter this error, QuickBooks displays an error message that says "QuickBooks was unable to verify the financial
institution information for this download. Please try again later."
Causes of
QuickBooks error OL 301
The occurrence of such an issue can have
numerous technical causes and symptoms of it. In this segment, we will first
evaluate the factors that can lead to such bank feed error. This error can
occur due to various reasons, including:
- Some
users often need to remember to fetch the bank account information
correctly, and Erroneous information can lead to this issue.
- The
login details provided by the user don't match the actual login details.
- If
the login credentials you entered for your bank account in QuickBooks are
incorrect, you may encounter this error.
- Sometimes
the server of your registered bank is down.
- In
case the bank's website may experience technical glitches or server
downtime, causing QuickBooks to fail to connect and retrieve the banking
information.
- If
your firewall or antivirus software is blocking QuickBooks from accessing
the internet.
- Account
information not properly updated on the Financial Institution’s Directory
(FiDiR).
What are the Symptoms showing the issue?
When you encounter QuickBooks Error OL-301, you may
experience one or more of the following symptoms:
- The error message "QuickBooks
was unable to verify the financial institution information for this
download. Please try again later" appears on your
screen.
- You may not be able to log in to your bank account through
QuickBooks, even if you have entered the correct login credentials.
- Your bank transactions fail to download, or only some of them
download while others do not.
- QuickBooks crashes or freezes while trying to connect
with your bank's website.
- Your QuickBooks software runs slowly, and you experience a
lag while performing banking-related tasks.
If you encounter any of these symptoms, you
should try to resolve the error as soon as possible to prevent any disruption
in your financial reporting and bookkeeping.
Practical Solutions to Fix QuickBooks Error Code OL 301
You can try the following basic solution
steps:
Solution 1: Eradicate the temporary files
- First, you will have to opt for the option
named Tools.
- There you will see an icon for Online
Center; select that option.
- Then, find the option saying Financial
Institution and click on it.
- After that, hit on Control and Shift
together, and hit a click on Contact Info.
- You must pick the accurate and running Bank
account from the options.
- Then, opt for the Financial institution
Branding & Profile and select Refresh.
- Now hit a click on Ok after completing
the previous steps.
- After that, select the Update/Send
button to go online.
- At last, all you need to do is restart the
online session.
Solution 2: Generate the Company Test File
·
Go for creation of Test company file, then reset the connection to your
bank.
·
Hit on Online banking connections, then check the company data.
·
If the issue still persists, go
to the next solution below.
Solution 3: Reboot the QuickBooks Account Connection
·
Run QB as admin.
·
Then, go for “Charts of accounts”.
·
Choose correct version, then choose
“Edit account”
·
After that, locate the tab
named Bank Feed Settings, select
that, and hit on Deactivate
all online services.
·
Click “Ok” to save settings.
·
Proceed with reactivation of
the report.
·
In direct connection, move
the cursor to the Bank Feeds first. Then, opt for the option saying Set
up a bank feed for an account.
- There
you need to choose your Bank account and provide the valid details
of your account.
- Go
through all the instructions to successfully finish the process.
- This
error can be solved for both direct and web connections.
- In
case of a web connection, You need to log in to the online bank account
and download the. qbo format transaction file. Then, save the
file to your preferred location.
- Then,
go to the File tab and select Utilities in the sub-category.
- Hit on Import, and then click on Web connect files.
·
This should rectify QuickBooks
Error OL 301.
Solution 4: Update
QuickBooks desktop
It may be possible for the error OL 301 to
show due to QB not being updated to the newest version. The steps to update
QuickBooks are:
·
Run QuickBooks, then go for the Help tab.
·
Restart QB and allow these
updates to get installed.
· Move the cursor to the option saying Update QuickBooks.
- Then, check
if the software has available updates.
Solution 5: Check
for Inactive accounts in QuickBooks
The process to check for Inactive accounts
is:
·
Run QB, then go to Charts of accounts.
·
Head to Accounts menu, then click on show
inactive accounts
·
Opt for the Inactive account, then click on Edit account
·
Place a tick mark besides the
option to deactivate all service, then click Ok.
Summing Up!
We hope the above given solutions in the blog have helped you to rectify the QuickBooks error OL-301. If the error becomes stubborn and continues to occurring on your desktop, we recommend you contact us at +1-800-615-2347. Our certified and trained QuickBooks online error support team will guide you on how to get rid of from such banking errors.
Related Articles: Steps to Resolve QuickBooks Error OL-334
Sponsor Ads
Created on Sep 25th 2023 05:53. Viewed 74 times.