QuickBooks is an accounting software that assists you to connect with the bank and download online QuickBooks transactions. It is the most popular among small or mid-sized businesses. Even it is helpful to those people who have little knowledge of the account. But you have to face some error codes while working on QuickBooks, QuickBooks error code OL 205 is one of them. So, in this article, you will get all the information about this error and you will also be able to resolve the QuickBooks error code OL 205 after reading this article.
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What is QuickBooks Error Code OL 205?
The QuickBooks error OL 205 pops up while updating accounts to download the new bank transaction into QuickBooks software. This error may occur due to the temporary bank server outage or company file having data integrity issues. You need to get rid of this error as soon as possible. But before going through the solution to this error, you should know its causes.
Factors Responsible for the QuickBooks Error Code OL 205
- Unstable internet connectivity may give rise to this error.
- In case of an outdated version of the QuickBooks software application.
- When the bank website or servers are in maintenance mode.
- When the QuickBooks version you are using, doesn’t support online banking.
- In case of an outdated web browser or internet explorer.
- When the Downloaded or imported formats are not supported.
You may also read: Methods to Restore files in QuickBooks Desktop
How to Eliminate the QuickBooks Error Code OL 205?
Method 1: Enable Security Protocol TLS 1.2
- First of all, you are needed to press the Window+R keys together in order to open the Run command. Thereafter, type Control and hit click on the OK tab.
- Then, select Network and Internet and then move to Internet Option.
- Now, hit click on the Advanced tab.
- Then, go to the Security Section.
- And verify if Use TLS 1.2 is checked and Use TLS 1.0 is unchecked.
- Last, hit click on Apply and then on the OK tab.
Method 2: Try Refreshing Your Bank Connection With QuickBooks
- First of all, go to the Company option and select Chart of Accounts.
- Now, click on the Include Inactive Box. A lightning bolt will represent the Inactive account.
- If no inactive account is shown then, turn off the online banking on them and set up bank feeds before downloading the transactions.
- If you find any inactive account, right-click on it and select the Edit Account option.
- Now move to the Bank Feed Setting tab and hit click on Deactivate All Online Services and then click on the OK tab.
- Now hit click on Choose and then on Save and then on Close tab.
- Next, reopen the company file.
- The lightning bolt will disappear if the process succeeds.
Method 3: Make a New Test Company File
- First, open QuickBooks and go to File Menu.
- Then select New Company and then click on the Start key.
- Thereafter, move to the New Company File and add the bank account through which you are facing the error. And set this account for your bank feeds.
- Now, you are required to test the account with the bank feeds that you downloaded earlier.
- Now, check if you are facing the same error. If yes, then the issue must be with your bank or financial institution. You are needed to contact your bank.
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Method 4: Contact Your Bank or Financial Institution
First, You need to contact your bank. There could a possibility of some changes to their server or website. You can be the reason for having this trouble in QuickBooks desktop. If there are some issues running with them, wait for 24-48 hours.
Method 5: Review the Downloaded File From Your Bank and Make Sure that It is Compatible with QuickBooks
- Close the QuickBooks application and use your browser to sign in to the bank website.
- Now search the Download Transaction option and download them in the .qbo version.
- And finally, import these transactions with the .qbo extension to QuickBooks.
See also : How to Fix QuickBooks Error Code C=343
In this article, we have gone through the multi- solutions to fix the QuickBooks error OL 205. And all these solutions must be helpful to you. If you find that you are receiving the same error, again and again, contact our QuickBooks error support team to resolve this error.
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