How To Resolve QuickBooks Bank Feeds Setup Error OLSU-1011

21 Jan 2021

How to Resolve QuickBooks Bank Feeds setup error OLSU-1011?

Are you worried about the QuickBooks Error–QuickBooks Bank Feeds setup error OLSU-1011? It is one of issue in the QuickBooks and this happens when you are setting up an account for the Bank feed. However, if you are getting this issue, firstly know the reasons behind it, that why the error is occurring and after that, proceed with the steps to resolve the error. 

Some Causes behind QuickBooks Bank Feeds setup error OLSU-1011

  • Both the Bank servers or website are on the maintenance mode
  • When you are in the express mode. 
  • QuickBooks desktop needs to be updated
  • QuickBooks Company file having data integrity problems
  • Your FIDIR is not updated properly

Troubleshooting Steps to Fix QuickBooks Bank Feeds setup error OLSU-1011

Step 1: Get in Touch with your Bank/Financial Institution

We always suggest you to contact your Bank/Financial institution first because there could be an option that they are doing some changes onto their website or on the server. 

Step 2: Specify default account for both the Company and Company Preferences

  • First of all, Sign-In to your company file as Admin.
  •  Now, switch it to the single-user mode.
  • Open the Edit option, and select preferences
  • After that Choose the Checking option
  • Under My Preferences, you have to choose the four options with the default account
  • Hit on the option– Company Preferences.
  •  Now, you can Select Default Accounts to use the section.
  • Choose the option– Open the Create Paychecks and Open the Pay Payroll Liabilities with the default account
  • Tap on OK button. 

Step 3: Change to Express Mode

  • Sign-In to your company file as Admin and change it to the single-user mode.
  • Open Edit and under that select the Preferences and check it. 
  • Choose the option of Company Preferences tab
  • Under the Bank Feeds, you have to choose Express Mode
  • Tap on the OK button

Step 4: Update your Financial Institutions Directory

  • Firstly, Go to the QuickBooks Desktop
  • Open the Banking and Choose Bank Feeds.
  • After that, Select the Bank Feeds Center
  • Now, choose the refresh icon which is available at the top and after that if the issue still not fixed, you have to proceed on the next step. 

Step 5: After that, you have to Deactivate and Reactivate Bank Feeds

Step 6: Now, Run Verify and Rebuild Utilities

  • Go to the QuickBooks Desktop
  • Open the File section and then Utilities.
  • After that, you have to verify the data and tap on OK to close all the Windows. 
  • If QuickBooks do not detect any issue with your data tap on OK button. 
  • If you found some issues with your data, tap on the Rebuild button. 

After following all the above mentioned steps, if still you are getting Bank Feeds setup error OLSU-1011 problem, you can speak with our tech representatives for an instant resolution.