QuickBooks error OLSU-1011

How to Fix QuickBooks Error OLSU-1011?

Are you still dealing with handbooks and file manually and stressing yourself? Then why not get your hands on this top-notch accounting software in the market. QuickBooks by Intuit, being the best accounting software in today’s world, help their customers to manage their company’s finance in a systematic manner and even help in filing the tax returns on time without any delay. But, despite its unmatchable features and growing popularity, we all face some of the other glitches while using this software. One such error is QuickBooks Error OLSU-1011. There are multiple reasons for this QB error to pop-up; few of them are as follows:

  • The company files might have some data integrity issues
  • The QB Desktop might need to be updated
  • The banks websites or served might be under maintenance
  • Your software might operate in classic mode instead of express mode
  • Your Financial Institution Directory (FIDIR) might not be up to date

In case you case this issue and wish to overcome it, you can either follow the below-mentioned steps or simply get on a call with the expert technicians at the customer service QuickBooks and ask for quick and appropriate assistance.

Update your QuickBooks Desktop

  • Start by opening the QuickBooks Desktop.
  • Now, go to ‘Help’ and then click on ‘Update QuickBooks Desktop.’
  • Select the ‘Update Now’ button from the top and tap the ‘Get Updates’ tab.
  • And once the update is completed, click on ‘Close.’

Backup your Company File

  • In order to so, go to ‘File’, then click on ‘Back Up Company.’
  • Now tap the ‘Create Local Backup’ tab and follow the on-screen instruction to do the same.

Verify your default account for Personal and Company Preferences

  • Start by logging in to your company file and switching to single-user mode option.
  • Now, click on the ‘Edit’ and go to ‘Preference.’
  • Then, under the ‘My Preferences’ tab and select all the four options with the default account you are using
  • After that, click on ‘Company Preferences’ and under the ‘Select Default Accounts To Use’ section, start ticking on – ‘Open the Create Paychecks’ and ‘Open the Pay Payroll Liabilities’ with the default account again.
  • Finally, click on ‘OK’ and end the process.

Deactivate and Reactivate the Bank Feeds

Deactivate the Bank Feeds

  • Go to the ‘List’ option and press ‘CTRL+A’ or got to ‘Chart of Accounts.’
  • Now, make a right-click on the accounts that might be causing the error and click on ‘Edit Account.’
  • Then go the ‘Bank Settings’ and select ‘Deactivate All Online Services.’
  • Finally, click OK ‘OK’ and select ‘Save and Close.’

Reactivate the Bank Feeds

  • Go to the ‘List’ option and press ‘CTRL+A’ or got to ‘Chart of Accounts.’
  • Now, make a right-click on the accounts that might be causing the error and click on ‘Edit Account.’
  • Then, click on ‘Set Up Bank Feeds’ and then click on ‘Yes’, in order to close all the running QuickBooks windows.
  • A screen will pop-up, enter your bank name and click ‘Continue.’
  • Now, enter your bank username and password and click on ‘Connect.’
  • It might take some time to get the bank account on the screen. Once appeared ‘Link’ the account with a respective existing account and clicked on ‘Next.’

Run Verify and Rebuild Utilities

Run Verify Utilities

  • Open the QuickBooks Desktop
  • Now, go to File > Utilities > Verify Data
  • Then, click on ‘OK’ to close all the running windows.
  • In case, QB doesn’t detect any problem with the data, click on ‘OK.’
  • In case, any problem is detected by QB then click on ‘Rebuild.’

Run Rebuild Utilities

  • Start by going to File > Utilities > Rebuild Data
  • Then, click on ‘OK’ and then ‘Save’, in order to create a backup.
  • Once the rebuild process is completed, click on ‘View Results.
  • In case if your zero issues proceed further with the on-screen steps.
  • In case any issue is found with your data, it is better to take the help of the experts.

These steps might solve your query and give you a better working of the software. But, if not you can get in touch with the techies at the QuickBooks support, for further assistance.

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