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.
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:-
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:
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.
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.