Bank Feeds Setup Error OLSU-1011

Despite being quite a flexible accounting software QuickBooks can sometimes get affected by some common errors due to certain issues, Bank Feeds setup error OLSU-1011 is one of them. This banking error in QuickBooks is usually encountered when you are trying to set up an account for bank feeds. You may also come across this error code while you are updating QuickBooks.

QuickBooks Bank Feeds setup error OLSU-1011 appears by raising an error message that states ‘QuickBooks An unexpected error occurred. The branding and profile servers are unable to be accessed. Click Cancel to discontinue setup and then retry setting up the account for online services again. Error message number: [OLSU-1011] If the problem persists, call QuickBooks Support and provide the error message number above’.

Primary Reasons for the QuickBooks Bank Feeds Setup Error OLSU-1011

Several reasons can cause the Bank Feeds setup error OLSU-1011 to occur in QuickBooks. This article has some of them listed below for your help.

  • The FIDIR (Financial Institution Directory) can not include your financial institution’s credentials as it is not updated.
  • The Company file or its data is possibly damaged or corrupted.
  • You are in the classic or register mode despite using the express mode.
  • If the websites associated with your bank are under maintenance.
  • You may have some sort of technical glitches at your end.
  • QuickBooks installation is either incomplete or not done properly. 
  • If you are using QuickBooks with an outdated version.

Resolutions of the QuickBooks Bank Feeds Setup Error OLSU-1011

Various methods are provided in this article for troubleshooting the Bank Feeds setup error OLSU-1011 in QuickBooks. The first method is capable to solve the issue in the very first shot. However, if it fails, it is recommended to adopt the further methods sequentially for best results.

Total Time: 35 minutes

Specifying the Default Account as per the Personal and Company Preferences.

🔹 First of all, you need to log into your company file as an admin.
🔹 After that, you need to switch to the single-user mode.
🔹 Having done the above step, move on to the option named Edit.
🔹 Now head on to Preferences in the Edit menu and choose the Checking option.
🔹 Then go to the My Preferences tab and choose default accounts for all the four options.
🔹 Once done, visit the Company Preferences tab.
🔹 In that, you need to choose the options named Create Paychecks and Pay Payroll Liabilities.
🔹 Finally, make a click on the Ok button.
🔹 Attempt to set up the account for online banking once again.

Get the method given above into use and see if the Bank Feeds setup error in Quickbooks is resolved or not. If not, carry on with the other given methods.

Getting the Financial Institution Directory (FIDIR) Updated.

🔹 The first step is to search for the file ‘fidir.txt’ on your Windows.
🔹 After that, make a right-click on the ‘fidir.txt’ file and choose the option Rename.
🔹 Once done, change the extension from ‘.txt’ to ‘.old’ and save the name changes by clicking outside the pop-up menu.
🔹 Then you need to choose the version of QuickBooks whose latest file is desired.
🔹 Now, go to the Save As window, choose Desktop and click on the Save button.
🔹 After that, make a right-click on the ‘fidir.txt’ file on your desktop and then tap on Copy.
🔹 Choose File Explorer by hitting a right-click on the Start button and then choose This PC.
🔹 The next step is to access the ‘filist’ folder.
🔹 Then you have to make a right-click anywhere and choose Paste from the menu thus displayed.
🔹 The final step is to exit QuickBooks and open it again.

Switching to the Express Mode.

🔹 The first and foremost step is to log in to the Company file and switch to the single-user mode.
🔹 After that, go to the Edit menu and tap on Preferences.
🔹 Having done the above step, select the option named Checking.
🔹 Now proceed to navigate the Company Preferences tab.
🔹 Finally, choose the Express mode from the bank feeds.

Reactivation of the Bank Feeds

🔹 To begin with this method, you first need to deactivate the bank feeds.
🔹 After that, go to the Charts of Accounts list and pick out the account that resulted in the error.
🔹 Once done, choose the option named Edit account.
🔹 Then you need to choose the option ‘Set up the bank feeds’ and tap Yes.
🔹 Then you are supposed to exit from all the QuickBooks windows.
🔹 After that, you need to type the bank name whenever prompted.
🔹 Once done, hit click on the Continue button.
🔹 Then, fill in the bank name and password on the bank page.
🔹 The last step is to tap on the Connect option followed by hitting the Next button.

To Verify and Rebuild the Utilities

🔹 Start by opening the QuickBooks software.
🔹 Then head to the ‘Utilities’ tab and click on the option named Verify data.
🔹 After that, you are required to hit and click on the Ok button.
🔹 Having done the above step, tap on ‘rebuild’ if you find any issues in the given data.
🔹 If you want to rebuild data then you need to choose Rebuild data in the ‘Utilities’ tab and click the Ok button.
🔹 The next and final step is to save the backup.

This was all about the resolution methods for the QuickBooks Bank Feeds setup error OLSU-1011. Make use of them properly and carefully and check whether this banking error is resolved or not.

Conclusion: This article aims to make you familiar with the Bank Feeds setup error OLSU-1011 in the QuickBooks software. It also includes the root causes for this banking error and the troubleshooting methods for the same. You should be able to help yourself out using them. However, if you fail in the first shot and the error persists, do not lose patience and try to fix it once again. If you still can not help yourself out, feel free to reach out to the QuickBooks Customer helpdesk team anytime. The team experts have years of experience in handling such errors and their associated issues and they are available 24/7 to assist you in the best possible way.


Frequently Asked Questions(FAQs).

What things I am supposed to do before fixing the Bank Feeds setup error OLSU-1011 in QuickBooks?

You should never forget to keep a check on the following pointers before you proceed to fix this error code:

🔹 You should not use outdated server Windows.
🔹 Ensure that the Internet connection is good and secured at your end.
🔹 Always make a backup of the company file beforehand.
🔹 Get an updated version of QuickBooks into use.
🔹 Do not forget to install the latest available antivirus for your system.

What are the steps to update the Financial Institution Directory (FIDIR) automatically to troubleshoot the Bank Feeds setup error OLSU-1011 in QuickBooks?

The steps for the automatic update of FIDIR are given below:

🔹 Begin by opening the QuickBooks application.
🔹 Visit the option named ‘Banking’.
🔹 Then you have to select Bank Feeds.
🔹 Head to the Bank feed center.
🔹 On the top-right corner of the page, click on the Refresh icon.

Why is it important to update the Financial Institution Directory to resolve QuickBooks Bank Feeds setup error OLSU-1011?

The Financial Institution Directory (FIDIR) includes all the important information about your financial institution. However, the task becomes difficult if it is not updated. Hence, it is always recommended to update your FIDIR before proceeding with the resolution of Bank Feeds setup error OLSU-1011.

What are the steps to Deactivate the bank feeds before reactivating them to fix Bank Feeds setup error OLSU-1011 in QuickBooks?

Following are the steps to deactivate the bank feeds.

🔹 The first step is to open the Chart of Accounts list.
🔹 Hit a right-click on the account that was causing the issue.
🔹 Choose the option named ‘Edit’.
🔹 Visit the bank settings and deactivate all the online settings.

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