How to Diagnose and Fix QuickBooks error OL 301?

To download transactions in QuickBooks, users need to connect the program with the bank. But, while doing so, users sometimes get QuickBooks error OL 301. It is a bank error that usually appears because of communication issues between QuickBooks and the bank. On the occurrence of this error, the user gets a message that indicates the error occurs due to a change in the account information. Although, following the correct troubleshooting procedure can help you resolve the error. Through this blog, you’ll learn about causes and troubleshooting solutions to fix the error, so stay connected until the end.

If you are looking for technical assistance to resolve QuickBooks error OL 301, connect with the certified QuickBooks expert’s team by calling us on our toll-free number 1.855.738.2891

What are the causes behind QuickBooks bank connection error OL 301?

Given below is the list of major causes behind the error:

1. The user’s account information is changed and not updated in QuickBooks.
2. QuickBooks can’t connect with the bank due to network issues.
3. QuickBooks Desktop application is not updated.

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Step-by-Step Guide to Fix QuickBooks error code OL 301

Following are the most reliable solutions to resolve this error. But before proceeding, we suggest taking backup of data:

1. Open the QuickBooks Desktop, go to the File menu, and select Switch to Single-user mode.
2. Go to the File menu again, select the Backup Company option and then Create Local Backup.
3. On the Local Backup window, select Local Backup and then Next.
4. Move to the Local Backup Only section, click Browse and choose a location to save your backup company file.
5. You also have the option to set the number of backups you want to keep.
6. Click Save it now and then Next.

Solution 1. Generate a test company file to fix error OL 301

This will help you determine if the error is related to the bank or some issue with QuickBooks.

1. In QuickBooks, go to the File menu and select New Company.
2. Choose Express Start or Start Setup
3. When the Setup window prompts, fill up the necessary details.
4. Click Create Company and then choose Start Working.

If the same error continues, it indicates there is some problem with the bank connection.
If you didn’t get the same error, proceed to Solution 2.

Solution 2. Reset QuickBooks connection with the bank by refreshing bank feeds

You need to refresh your online banking connection if your bank has just updated its online banking service. Follow the steps given below to refresh the connection:

1. Select the bank account having issues and Turn off Bank Feeds.
2. Next, turn on the Bank Feeds.
3. This process will refresh the bank connection.

Solution 3. Establish all online banking connections again

1. In QuickBooks, select Charts of Accounts from the Lists menu.
2. Click Include inactive at the bottom menu.
3. Now, turn off bank feeds for active as well as inactive bank accounts.
4. Restart QuickBooks and turn on the bank feeds for each account.

That’s it. We hope this blog helped you resolve QuickBooks error OL 301. If you find the troubleshooting process difficult, get in touch with the certified QuickBooks expert’ steam by dialing 1.855.738.2891.

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