QuickBooks Error
OL-301 [Resolved]

As we all know, QuickBooks is booming. Not only in terms of features but also because it is reasonable and user-friendly. One can make the best use of this software even though they don’t have much knowledge about accounting and bookkeeping. But whenever you witness any error then the first thing that comes to mind is why this error appears and how to get out of this. In today’s article, we will discuss QuickBooks Error OL-301 which is a very common error. Sit back, relax and be with us to get the best guidance on such QuickBooks errors.

Overview of QuickBooks Error OL-301

QuickBooks Error Code OL-301 prevails when you are having weak network connectivity with your bank to download bank feeds or when there is some issue in the company file. It will come up with a message “Your financial institution sent an error message. It might be because your account info changed or they haven’t turned on a service, like online bill pay. Find common fixes for this error or give your bank a call”.

Causes Leading to QuickBooks Error OL-301

Following are the causes that show when you encounter QuickBooks error code OL-301:

• You have given the wrong login details for Internet banking.
• In the Bank, the server is under maintenance or offline.
• Incorrect bank information in QBs desktop.
• Accounts that are inactive or blocked may also be the cause.
• The file that you are using is corrupted or damaged.
• There is a problem with your identity confirmation.
• Trying to use a service that is not started.

Before looking for fixes try to create a backup of your company files and update your QuickBooks desktop to the latest version. For creating a backup follow the steps given below:-

• Go to QBs desktop and then tap on the file option.
• Choose Backup Company and then select Create Local backup.
•  Lastly, look at the instructions for creating a backup.

Best Troubleshooting Solutions to Fix QuickBooks Error OL-301

QuickBooks error OL-301 is quite common and also restricts your work. Let’s look into the best solutions on how to fix QuickBooks Error OL-301:

Solution 1: Reset the Connection of your Account

It might be possible that the bank has made any changes and you haven’t refreshed it. Then you can encounter QuickBooks Error Code OL-301. To get rid of this error, you need to deactivate it and then reactivate it. Follow the steps to deactivate the connection:-

• Tap on the Chart of Accounts within the Lists section.
• Now, navigate your account & click on Edit Account.
• After that go to the Bank Feed Setting option & select Deactivate all online services.
• At last, press Save and Close.

Now, we will see how to reactivate bank feeds by looking at the instruction below:

• Firstly, hit on Bank Feeds from the Banking option.
• Choose Set up Bank Feed for an Account tab and then select your bank.
• Now, go through the steps displayed on your screen.
• Then provide your bank credentials and press Connect.
•  It will take a few minutes to take out your bank a/c.
•  After that, you can link it to your account.

Solution 2: Make a “New Test” Company File 

The reason behind making a new test company file is to find out what is the issue in the company file or bank a/c. Following are the steps to create a new test company file:

• Go over to the File option and choose New Company.
• Tap on the Express Start menu.
• Lastly, fill up all the necessary information and click on Create Company. 

Read More - How to Troubleshoot issues with Bank Feeds?

Solution 3: Use QuickBooks File Doctor Tool

With QuickBooks File Doctor, you can recover damaged company files and resolve some network problems. And this error arises due to network issues. So, by using this tool you can eliminate QuickBooks Error Code OL-301. Have a look at the procedure:

• Choose Company File Issues under the tool hub.
• Then Run QuickBooks File Doctor and it will take a few seconds.
• Now, get your company files in QBs file doctor.
• Click on Check your file and press Continue.
• In the end, type up your admin password.

Solution 4: Verify QBs for any Inactive Accounts

QuickBooks inactive your accounts instead of deleting them so that you can access them in case of reporting. But sometimes they start creating issues while you are trying to use QBs. So, to verify them, follow the procedure:

• Click on the COA below Lists.
• Under the Accounts option, choose Show Inactive Accounts.
• Tap on Edit Account if you found any inactive accounts.
• Then checkmark on the Deactivate all Online Services tab.
• A confirmation window will appear. Press OK.

Conclusion

We hope that the above solutions will help you to troubleshoot QuickBooks Error OL-301. You will be able to use QuickBooks again without any errors. If you get stuck then don’t hesitate in contacting us. We will be happy to serve you.

Frequently Asked Questions (FAQs)

Q1. How do I fix a bank feed in QuickBooks desktop?

• Verify if the File is suitable with QBS.
• Download Bank Feeds Transactions in the Test Company File.
• Make and Combine Accounts.
• Revive your Bank Connection.

Q2. Why is QuickBooks not downloading bank transactions?

Answer – It’s because you have recently updated your bank website, account number, or username but you haven’t updated it in your QuickBooks.

Q3. What is QuickBooks error c47?

Answer – QuickBooks error c47 appears when you can’t find a transaction or can’t open QBs company file.