In this post, we will walk you through a step-by-step process for fixing QuickBooks issue OL 301 and OL 393, which appear when connecting or downloading banking transactions online. You may receive an error message stating, “Your financial institution sent an error message.” It could be because your account information has changed or they haven’t enabled a service, such as online bill pay. Find typical solutions to this mistake or contact your bank”” if you have encountered the OL 393 or OL 301 error. You can easily correct these problems by following the guidelines provided further down in the text.
If you are running out of time and require immediate assistance in fixing the issue OL-301 or OL-393, contact direct support at +1-888-704-1357. This will also eliminate any possibility of data damage.
Read more: Update Error in QuickBooks 2023
What Causes QuickBooks OL 301 and OL 393 Errors?
When using online banking in QuickBooks, one may get a variety of OL issues with various error codes. Error OL 393 and Error OL 301 occur when QuickBooks is unable to validate the user’s information with the bank or is unable to connect with the bank due to technical issues.
After receiving one of these failures, you may notice a different sort of error message displayed on the screen “”QuickBooks and the bank cannot exchange data because they have different account information.” All of the possible causes of QuickBooks bank connection issues OL 301 and OL 393 are described here.
- QuickBooks Desktop’s bank account information is inaccurate.
- You are attempting to use a service that has not yet been activated, such as (Online Bill Payment Service).
- Incorrect online banking login credentials.
- Your account is inactive, or it has been blocked by the bank for whatever reason.
- The bank is still processing your identity confirmation request.
- The bank’s server is unavailable due to maintenance.
- The company file in QuickBooks Desktop that you are utilising is corrupted or corrupt.
NOTE: If you have recently installed a new version of QuickBooks Desktop or upgraded the version you are using, you should reconfirm your identity with your bank. Sign in to your online banking account using a web browser and look for the notification for the identification confirmation request.
Read more: QuickBooks 2023 closes unexpectedly
Troubleshooting Steps for Errors OL 393 and OL 301
Before continuing with the troubleshooting steps, establish a backup of your QuickBooks Desktop company file to reduce the chance of losing important company data.
Step 1: Create a New Test Company File
Creating and opening a test company file is a normal troubleshooting technique that allows us to pinpoint the source of the problem. If you can readily open the test firm file, it means there is something wrong with the bank account or the banking system.
- Select New Company from the File menu.
- Select the Quick Start option.
- Fill in all of the essential company details and click the Create Company button.
- If you do not receive any errors while utilising this test company file, proceed to the next troubleshooting step. If the problem persists, it could be due to technical issues at your bank’s end. You should contact your bank for additional assistance and information.
- When you contact your bank, request that they validate your account information so that you can use QuickBooks without encountering any OL problems.
Step 2: Reset the QuickBooks Account Connection
Resetting the connection to your bank account in QuickBooks refreshes the connection, which aids in the resolution of typical bank account connectivity issues.
- Select Chart of Accounts from the Lists menu. Locate and right-click the account, then select Edit Account.
- Click Deactivate all online services under the Bank Feed Settings tab.
- Click OK, then Save and Close.
Once the account’s online bank feed has been deactivated, it must be reactivated. For reactivation, follow the instructions below.
- For Direct Connect, go to the Banking page and select the Set up Bank Feed for an Account option.
- Choose your bank and fill out all of the relevant information.
- To finish the process, follow the directions on the screen.
- Log in to your online banking account, then download the banking transaction file in.qbo format and store it on your desktop.
- Under the File tab, select Utilities.
- Click Import, followed by Web Connect Files.
- Select the.qbo file stored on the desktop and click Open.
- In the Bank Account section, select Use an existing QuickBooks account.
- When you notice Your Web Connect data has been successfully read into QuickBooks, click OK.
Step 3: Check QuickBooks for any Inactive Accounts.
An inactive account is a clear cause of problems while attempting to access QuickBooks. To resolve the QuickBooks OL 301, follow the steps below to deactivate any inactive accounts in QuickBooks.
- Select Chart of Accounts from the Lists drop-down menu. Select Show Inactive Accounts from the Accounts drop-down menu.
- Right-click any dormant account and select Edit Account.
- Check the box next to Deactivate all Online Services on the Bank Feed Settings tab.
- On the confirmation window, click OK.
- Restart QuickBooks and double-check the status of errors OL 301 and 393.
- Rep the previous steps to deactivate any other dormant accounts.
- If the error persists, proceed to the next troubleshooting step.
Step 4: Examine the QuickBooks Desktop Company File for any errors.
QuickBooks OL 301 might also be triggered by problems in the company file that are linked to your bank account. To repair the company file damage with QuickBooks File Doctor, follow the steps below.
- If it isn’t already installed, download and install QuickBooks Tool Hub, then launch it from the desktop shortcut icon.
- When the Tool Hub software launches, navigate to the Company File Issues tab and pick QuickBooks File Doctor.
- Choose the option to just fix the company file that is linked to the online bank account that is receiving the issue.
- When the file repair process is finished, try accessing your bank feeds again to see whether error OL-301 persists.
- QuickBooks File Doctor immediately restores any harm to the data file. Follow our How to Repair a Damaged Company File article for detailed instructions on how to use QuickBooks File Doctor.
If your data is severely damaged, you may receive QuickBooks errors OL 301 and OL 393 even after running the rebuild data utility several times. If this is the case, we recommend that you contact Desktop Technical Helpline Number +1- 888-704-1357 for assistance, as you may lose a substantial amount of essential company data due to data corruption in the company file. QuickBooks Data Services professionals are experienced in dealing with such situations and provide complete resolutions to QuickBooks users.