When you are trying to connect to any financial institution like a bank, and attempt to download the bank transactions or feed them into QB, but are unable to complete the process, “ Your financial institution sent an error message. -Error Code OL-301,” you receive this error message on your screen. Other names for it are QuickBooks error OL301, bank feed QuickBooks error OL-23011, and QuickBooks.
American Express import OL-301 shows an error message that displays, “QuickBooks and the bank can not exchange the data because they have different account information.” Still, the root causes for every error message are the same. A few of them have been mentioned on this blog, along with proven solutions to fix them.
How to Get Rid of Error OL-301 in QuickBooks Desktop
It occurs when a connection error occurs between QB and your financial institution while using the direct connector. You may also encounter error 301 because the application is unable to verify your information with your bank due to technical issues. To understand more about the reasons, go through this segment:
- You entered incorrect bank information in QuickBooks
- You are utilizing a corrupted or damaged QB company file
- You are using a service, such as the Online Bill Payment Service, that has not yet been activated
- Your online banking login credentials are not working correctly
- The bank has blocked your account
- The bank has not yet authenticated your identity
A few of the reasons are similar to error code 195 in QuickBooks, and in fact, there are many more reasons why this error code appears on your screen.
3 DIYs to Rectify the QuickBooks Error OL-301 on Your Desktop
Now, after understanding the reasons, you have to go through the procedures to resolve the error OL-301 in QBDT:
Method 1: Create a new company test file
- First, you have to hit the File tab > select New Company
- Then, hit the Express Start or Start Setup option
- Now, give all the required information to set up a company, press the Create Company button, and start working
Method 2: Reset the connection to your bank account
- Disable all the bank feeds:
- First, hit the Chart of Accounts under Lists
- Then, find and click Account > choose Edit Account
- Now, from the Bank Feed Settings, press the Deactivate all online services option
- Press OK and then Save & Close
- Enable the bank feeds for direct connect:
- Click the Bank Feeds option from the Banking tab and then select Set up Bank Feed for an Account
- Then, choose your Bank and provide all the information as required
- Now, go through the guidelines that are displayed on the screen to complete the procedure
- For Web Connect, you need to turn on bank feeds:
- Log in to your QBO Account > download the banking transaction data file in .qbo format and save it on the Desktop
- Click the Utility option from the File tab
- Now hit Import, then Web Connect Files
- After that, choose the .qbo file on the Desktop > hit Open
- Here, select the option from Using an existing QuickBooks account in the Bank
- Press OK after your Web Connect data is successfully read into QuickBooks
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Method 3: Reset all the banking connections
- First, select the Chart of Accounts from the Lists
- Then, under the Accounts drop-down menu, select the Show Inactive Accounts option
- Now, hit right on any inactive account and then choose Edit Account
- In the Bank Feed Settings, mark all Online Service options as Deactivated
- Click OK on the confirmation window
- After that, reboot the QB and verify the status of the OL-301 error message
- Repeat the same process and deactivate any other inactive accounts
Conclusion
With this blog, you will have to rectify the QuickBooks error OL301 shortly. Here are three methods that will help you fix this error. However, if you are unable to do this properly, you need to dial +1.833.802.0002 and connect with the QDM's team, who will resolve your issues.
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