Those of us who’ve been using QuickBooks suite for a considerable amount of time, we’ve come across an important error which is QuickBooks Error OL-222, not only did this error stop us from functioning important tasks like banking within the software also made us difficult to maintain a transaction. Yes, we will be discussing this error only and along the way will be throwing light on various aspects related to it.
What you need to know about QuickBooks Error OL-222
The aforementioned error/issue is very peculiar to the QuickBooks software suite. Why? Does the QuickBooks application give function banking for businesses along the line with other functions like taxation, accounting, bookkeeping, payroll, etc. what do we get in the banking function? Accounts, merging, transaction-related data, bank feed retrieving, etc. Now, we can finalize why our blog will remain in and around this error. On the other hand, this error occurs when the software does not get a proper response from the user’s financial intuitions which is the bank itself.
Try continuing to read the entire article to know more about the problem.
Factors That Give Rise to the Bank Feed Error Message OL 222 in QuickBooks
For curious users, the factors which give rise to the bank feed error message QuickBooks Error OL-222 in QuickBooks are mentioned further here:
- A scanning error received as a server response
- Unsupported characters in .QBW file that distinguishes Open Finance Exchange (OFX) standards (OFX defines the standards for exchange between the financial institutions and QuickBooks).
- Irregular formatting of QuickBooks company files may also result in QuickBooks banking error OL-222
Quick Steps to Create a Backup of your QuickBooks Company File
If the users want to keep their system error-free, then they have to comply with regulating methods, however, this kind of frequent resolving methods may result in file loss or damages. Hence it is advisable that the users make a habit for themselves to save or backup the company files somewhere so that the valuable data remains intact. There are many methods by which the users can backup the company file, this will depend on the context of the file size (≤3GB), what type of QB versions were in use during this process, and so on. A simple guide has been shown here on how to backup:
- Out of the File menu, select Back Up Data.
- Catalog the backup location:
- Select Default Location to backup to the default folder on your local drive.
- Select Specify Alternate Location to backup to a network or removable drive.
- Select Backup then Finish.
This guide should lead you to the destination although later on, you have to restore the file properly to access it.
How to Update QuickBooks to the latest version
Many errors in QuickBooks and the many factors behind it, this is also a reason that QuickBooks is outdated. Hence, the users have to constantly check on the latest version. The method to update is shown here:
- Head to Help and select Update QuickBooks Desktop.
- Select Update Now, then select Get Updates.
- When the update finishes, close and relaunch QuickBooks.
- If it asks to install the update, select Yes.
- When the installation finishes, restart your system.
For Mac:
- Head to the QuickBooks menu and select Check for QuickBooks Updates.
- Select Install and Relaunch.
Causes of error code message OL-222
The aforementioned error occurs for some causes which run the behind the scene of the software. They cited underneath:
- Outdated QuickBooks Desktop version.
- The QuickBooks Company File may carry errors of some sort.
- The error code may appear due to the third-party software conflicting with QFX operations. (Open Finance Exchange Standards)
- When the .QBO file name isn’t complying with the financial institution’s rules, this might cause the error.
- A poorer internet connection can also be the cause.
- There might be several invalid entities in the QBW file which is causing the error code.
Detailed Description of Error code OL-222 in QuickBooks
QuickBooks users must connect their bank accounts to it. They will be for the purpose to use all the transactions and monetary processes in the QuickBooks suite. From time to time, QuickBooks fails to establish a connection to the users’ bank. The potential reason that may be lingering is that the bank servers are confronting some issues and couldn’t respond to any of the requests made by the QuickBooks suite. The users will witness that an error message is beamed saying “QuickBooks is unable to complete the process…” every time they try to establish a connection to their bank servers.
QuickBooks Bank Feeds Not Working Issues & Problems
Proper assistance of Web Connect is required whenever any users try to download transactions; a crucial point that many ignore. If Web Connect is improper as a byproduct it doesn’t permit Bank Feeds to work appropriately. Some of the features are penned below:
- The bank server that is added is nonfunctional in the time of synchronization.
- If the users try to retrieve any particular transactions that it is older than a period of 90 days.
- When QuickBooks stop supporting the bank and the user has an account inside.
- *Due to the errors in synchronization with the QuickBooks accounting software and the particular bank account that has been going added.
- Your bank is dealing with issues, such as pending alerts on your bank feeds.
- There is a problem with the FI servers, or the bank data is not current.
- There’s a problem with the internet.
- Your company file holds a problem with one or more bank accounts.
- QuickBooks does not accept the file from your bank.
- You’re working in an unsupported version of QuickBooks or an outdated version of Internet Explorer.
Note: Not every accounting application comes with a user manual. Updates are necessary for software to enhance productivity and London times is the best place to follow these updates and stay connected. For more insights into accounting applications used widely by small and medium businesses kindly follow London Times.
FAQs
How do I fix QuickBooks’ unable to verify the financial institution?
There are various steps that you can put to work if you are dealing with QuickBooks unable to verify the financial information:
- Proceed with downloading the Web Connect file
- Verify the QBO file from the bank
- Check the bank notifications
- Start switching banking modes
- Generate a test file
What kind of files can be imported into QuickBooks?
The users can use CSV file (Comma Separated Values), Google Sheets, or an XLS/XLSX file to import information to QuickBooks software. Some info about the different formats is explained below:
- CSV file: It’s a common file format used for text files that contain tabular data. In CSV files, each field of text is separated by a comma, semi-colon, or another special character.
- XLS/XLSX file: XLS is the file format of Microsoft Excel 1997-2003. Microsoft Excel 2007 and newer versions use the XLSX file format.
- Google Sheets: A cloud-based spreadsheet created in Google Drive.
How do I import a Web Connect file into QuickBooks?
If you need to import a Web Connect file into QuickBooks, follow the mechanism below:
- Download the Web Connect file from the financial institution. This file will have QBO as an extension.
- In QuickBooks Desktop, head for the File menu then click Utilities > Import > Web Connect Files…
- Select the QBO file you saved in Step 1 and then click Open.
- When prompted to Select Bank Account:
- If the account is already set up, click the Use an existing QuickBooks account radio button then from the drop-down menu, select the appropriate bank account.
- If it is not, click the Create a new QuickBooks account radio and enter the bank account name.
- Click Continue.
- When the import is complete, go to the Bank Feeds Center to review your transactions.
Postscript
We have come to the conclusion that QuickBooks Error OL-222 is a type of issue that users should be wary of beforehand. As point is to remain trouble-free during important sessions related to banking.
