Home > Blog > How to Resolve QuickBooks Banking Error OL-334?
Post by : Admin Category: QuickBooks 03 Jan, 2023 Estimated read time: 05 Min
QuickBooks Error OL-334 is one such banking error that may prompts while connecting or downloading the bank transactions. In other instances, it may occur due to an interruption in the network connection. Whenever the error strikes, users might be displayed with the following error message indicating:
“Your financial institution sent an error message”.
Read this entire post attentively to obtain the appropriate resolution methods to overcome the Error OL-334 in QuickBooks.
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Table of Contents
Top Reasons That Promote QuickBooks Error OL-334
Sometimes, QuickBooks Error OL-334 might trigger when the application fails to verify the users information with the Bank. Also, it may evoke when you cannot link with the Bank because of some technical glitches. Apart from this, there are plenty of other reasons that may lead to the error, which are as follows;
1. Entering the inappropriate bank login details.
2. It may occur when the server of your financial institution is down.
3. Damaged or corrupted QuickBooks company file.
4. When your identity confirmation request is pending on your Bank’s end.
5. You are attempting to access a service that is still not activated, such as (Online Bill Payment Service).
Essential Points to Consider Before Moving With the Troubleshooting Process
It is essential to go through the following pointers to deal with the QuickBooks Error OL-334 instantly. This will help you in dealing with the issue without implementing the entire troubleshooting procedures.
1. Verify whether you have an uninterrupted internet network connection. Look for the firewall and internet security settings if it’s already connected.
2. Ensure you access the most currently launched version of QuickBooks and Internet Explorer.
3. Consult with your financial institution to see whether your Bank is experiencing any outages at the moment.
Verified Solutions to Tackle QuickBooks Error OL-334
Rectifying the QuickBooks Error OL-334 becomes a much more straightforward task using the solutions enumerated below. Let’s explore these methods one by one without skipping any single step written below.
Way 1: Generate a New Test Company File:-
Preparing and launching a test company file helps you detect the exact cause behind the issue. If you can access the test company file without difficulty, it reflects some issues on your bank server or with the bank account itself.
1. Move to the QuickBooks File menu and opt for the New Company option.
2. Following this, choose Express Start and add the mandatory details to launch a company. Later on, hit the Create Company button and proceed further.
3. After this, you must set up Bank feeds for the affected accounts.
4. Next, try downloading your bank transactions.
5. If you are still obtaining the same error, it indicates some issues with your Bank. So, you must consult your financial institution with a copy of the Bank Feeds log to resolve the issue.
Way 2: Re-Establish the Connection with your Financial Institution
By resetting the connection with your Bank in QuickBooks helps in refreshing the connection. Thus, it helps in resolving general connectivity issues with your bank account.
First of all, verify if you have inactive bank accounts with online banking. For that, you must implement the simple steps discussed below to overcome the issue right away.
1. The first and foremost step is to move to the Company option.
2. Following this, choose the highlighted Chart of Accounts.
3. Next, you must mark the checkbox beside the Include Inactive. Further, search for an inactive account with a lightning bolt.
If you get one inactive account, here are some simple steps to disable online banking. For this, implement the instructions written below.
1. Initially, search and right-click on the inactive account and opt for the Edit Account.
2. Subsequently, choose the Bank Feeds Settings tab > Deactivate All Online Services > OK > Save & Close.
3. Afterwards, open your company file once again.
4. At last, ensure that the lightning bolt is gone and if the error persists, move further.
Way 3: Generate and Merge the Bank Accounts
Here we have mentioned the complete set of instructions using which you can easily create and merge bank accounts.
1. In the beginning, move to the Charts of Accounts and right-click on the affected accounts.
2. Soon after this, hover your cursor over the Edit Account option.
3. Now, copy the account name and add an asterisk (*) sign at the end of your account name.
4. Next, opt for the Bank Feeds Setting tab > Deactivate All Online Accounts > OK > Save & Close option.
5. You have to generate a new account within the Charts of Accounts.
6. Ultimately, close and then open the company file once again.
You have deactivated the accounts; you need to merge them by following the below steps.
1. In the beginning, select the Charts of Accounts and right-click on the account with the asterisk (*) sign.
2. Afterwards, tap on the Edit Account option.
3. Now, wipe out the asterisk sign from the name of your bank account and select the Save & Close option.
4. Next, hit the Yes option to merge the accounts and set up your Bank feeds.
5. In the end, test whether you can download the transactions in QuickBooks.
Dealing with the QuickBooks Error OL-334 has become easier by implementing the resolution methods mentioned above. However, you must communicate with our professionals if you are still discovering the same issue. To reach out to our experts, connect with our specialists through live chat and wipe out the issue instantly.
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