Error code: OLSU-1011

I'll share some information on how to fix this error in your bank feeds, @rjl33.

The default accounts for your personal and company preferences may haven't been specified. This could be the main reason you get this hurdle.

Here's how to designate it:

1. Log in to the company file as Admin and switch to single-user mode.
2. From the Edit menu, go to Preferences and select Checking.
3. Click the My Preferences tab and select default accounts for all four options.
4. Click the Company Preferences tab and select default accounts for the two options: Create Paychecks and Pay Payroll Liabilities
5. Click OK.
6. Try to set up the account again for online banking.

If the issue persists, you can check if the Update the Financial Institutions Directory in QuickBooks Desktop. You can set this either automatically or manually to ensure that you have the latest information from your financial institution.

For the detailed resolution for this error, you can reference this article: Fix OL and OLSU Bank Feeds errors in QuickBooks Desktop. From there, you can also follow Solution 3: Switch to Express mode if the first and second solution won't work.

Please tell me how it goes after following the suggested steps in resolving bank feed error. Anytime I can help. Stay safe!

I am getting this same error on a company that already uses Bank Feeds.  I tried all your suggestions and am still getting an error that there is an issue with the Financial Institution.  This was working fine a couple of weeks ago.

I did all of that while on chat support with QuickBooks. Did not resolve issue

Same here. The bank is telling me it is a QuickBooks issue and QuickBooks is telling me it is a bank issue. I am not smart enough to figure it out I just want the QuickBooks program to talk to the bank like it use too. I have been using QuickBooks and downloading transactions from my bank for 10+ years with no problems. Now it is not working

Same, I have several company files I work on and never had this issue.  What year is your QB? What bank are you using? I'm trying to download from Bank of the West which has always worked in the past.

Thanks for joining this thread, @rjl33 and @NancyC.

I know how important for your business to have the bank feeds to work seamlessly. We’ll have to review the connection between QuickBooks and your bank to identify the cause of the error.

This requires us to access your company file and gather personal data. I know you’ve reached out to our Technical Support Team about the issue. I still recommend contacting them again, so they can perform in-depth troubleshooting.

Also, provide them the name of your financial institution. This is to check if we have any reported issues or investigations. You can get in touch with our specialists via chat or callback process.

Here’s how:

1. Press the Help icon at the top menu bar to choose QuickBooks Desktop Help F1.
2. In the Have a Question window, click the Contact us link to open the Contact Us screen.
3. Navigate to the Tell us more about your question section, type the issue or topic in the field box. For example, bank feeds error.
4. Click the Search button to display the Get Phone Number or Start a Message option.

I’m adding an article that provides detailed information on how to resolve online banking issues. It includes links to specific bank errors and instructions on how to fix each one: Fix OL and OLSU Bank Feeds errors in QuickBooks Desktop.

Feel free to visit the Community if you other QuickBooks concerns. I’m always ready to answer them for you. Have a good one.

Same