• Sat. Jun 19th, 2021

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Fixing QuickBooks Error OLSU-1011 in 6 Steps

QuickBooks Error OLSU-1011

Did you ever encounter with QuickBooks Error OLSU-1011? Did you find it difficult to set up an account for bank feeds in QuickBooks Desktop? Did you face an unexpected error by which you cannot access  profile servers and branding? If you are one of those users who are facing such error, then this article will help you understand the possible reasons and several methods to resolve this OLSU-1011 error in QuickBooks. However, we have tried our best to make the steps more easy for you to understand but if you requires one on one professional assistance, then you may contact our CPA DESK at +1 267-857-9587.

Before we proceed for possible reasons and steps to fix this error. We will ask you to answer the given questions to ensure your QuickBooks Settings.

  • Do you have blockage free internet connectivity?
  • Is the QuickBooks version supported by QuickBooks Desktop and Internet Explorer?
  • Are you using updated and latest version of QuickBooks?
  • Did you ever download bank transactions in QuickBooks Desktop Company File?
  • Are you able to access your bank account through QuickBooks Desktop?

If the answer to above all questions is Yes, then you may continue. But if the answer is No, then  this guide will help you understand the possible reasons causing this trouble.

  1. Bank sites and servers are in under maintenance mode.
  2. Data integrity problem with the Company File.
  3. QuickBooks Desktop is not updated.
  4.  Financial Institution Directory needs immediate updation.
  5. When Classic Mode of QuickBooks is turned on instead of Express Mode.

Top 6 Steps to fix QuickBooks Error OLSU-1011

You must perform two things before we proceed for troubleshooting steps.

  • Update the QuickBooks Desktop to its latest version.
  • Take Backup of your Company File.
  1. Reach to your Bank or Financial Institution

You must contact your bank and financial institution first to check if the bank site is under maintenance or not. If the bank is making any changes to their website or server, then you should wait for at least 24-48 hours to let the website back to its normal working. 

  1. Check the default account for Personal and Company Preferences.
  • You should first sign in to your company file account with the credentials provided by the admin. You should ensure your account must be on single user mode.
  • You should check preferences by navigate on to Edit menu.
  • After this, you should navigate on to My Preference Tab thereafter choose default accounts for personal and company preference.
  • You should again check default account for Create Paychecks and Pay Payroll Liabilities.
  • Now, select OK to continue.
  • Now you should set your account for online banking after performing above steps.
  1. Update Financial Institution Directory either automatic or manual.

You should update Financial Institution Directory (FID) either automatically or manually. 

Steps to update automatically

  • Select Banking, choose Bank feeds, search for the bank feeds center then click on it.
  • You should now select refresh or reload icon to sync the data from the drop down as shown in the upper right corner of the screen.

Steps to update manually

  • You should search for fidir.txt file if you have window 7,8 and 10. You can follow C  \ProgramData\Intuit\QuickBooks\….\Components\OLB\Branding\filist. It is for  enterprise products.
  • For pro/premier products, you should follow path as C:\Program Data\Intuit/QuickBooks/XXXX/components/OLB/ branding/fidist.
  • Once you get the fid file, you can rename it by clicking right.
  • You should now choose the QuickBooks version 2019, 2020, 2021 so as to obtain the new file.
  • Now you save the file on desktop by clicking on Save as option.
  • Now copy the fidir.txt file to that you saved on your desktop.
  • Now you should paste the copied didir.txt file on my computer by creating a new folder.
  • Now close and then reopen the QuickBooks.
  1. Switch from Classic Mode to Express Mode.

Read more about: “What is QuickBooks Technical Support Number” and “How to get QuickBooks Desktop Support

There are several modes such as Advanced mode, Express mode, and classic mode. You can choose any model from the Bank feed section after carefully examine their utility. Such as, the advance mode automatically matches your transactions from the books. Whereas express mode creates the renaming rules automatically. Classic mode uses company register to add and match the transactions.

  1. Uninstall and reinstall bank feeds.

We advise you to terminate all the opened QuickBooks Windows Session in order to deactivate all the online services of the bank feeds. Once you de-activate the bank feeds, you should  reconnect it by entering user name and password and wait for the server to get connected with QuickBooks Online.

  1. Perform Verify and reconstruct Utilities.

With this step, you will able to authenticate the data available on your company file. Once your data get verified, you will be able to fix the errors. If there will be any issues with the data, then you must proceed to rebuild the utilities. While you will be rebuilding the data, you should take the back up of data so as to prevent any data loss.
We hope this guide helps you perform the troubleshooting steps for fixing QuickBooks Error 1011 easily. For further assistance, contact us directly to our CPA DESK.

CPA DESK
Author: CPA DESK