Method for Fixing QuickBooks Error OL-334

quickbooks error ol -334

QuickBooks Error OL -334 means that there is an issue with the user’s bank that they might have rolled out some of the improvements to their offerings related to the administration, Web Connector the Direct Connect.

Causes of QuickBooks OL – 334 Bank errors in the QuickBooks Desktop

  1. The user might want to check with their bank to see if they might have rolled out some improvements.
  2. The user might be having an inactive bank account empowered for online banking in QuickBooks.
  3. There might be an issue with the Bank Servers or with the Internet Service provider used by the user.
  4. There might be an issue with at least one of the records in the organization document.
  5. There might be an issue with arranging the download or import.
  6. A discontinued adaptation of Windows or QuickBooks Desktop might be the cause of the error as well.

Pre-requisites to keep in mind before proceeding further

  1. Re-check if there is an active internet connection. If already connected, then verify the firewall and internet security settings to continue.
  2. Confirm that the user is using a supported version of QuickBooks and the Internet Explorer.
  3. Ensure that the QuickBooks Desktop application is updated to the latest release.
  4. Contact the bank to verify the account information and that the bank is not experiencing any outages at that moment.

You May Also Read: How to fix QuickBooks Error Code 7300? 


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Steps to fix QuickBooks Error OL-334

Step 1: (By enabling the TLS 1.2 Security Protocol if available).

Ensure that there is the latest version of Internet Explorer, where you can use the following steps to enable TLS 1.2.

  1. Open the Internet Explorer 11 and ensure that the latest version is installed.
  2. On the upper right section of the Internet Explorer, click on the gear icon.
  3. Navigate to the Internet Options and click on Advanced Tab.
  4. In the security section, scroll down.
  5. Uncheck the USE TLS 1.0 and mark USE TLS 1.2
  6. Click on Apply and OK. Then close the programs.
  7. Restart the computer.

If the same error message continues, only then, proceed to Step 2.

Step 2: Creating a new test company file.

This step helps if the issue originates from the bank and the bank servers.

  1. From the QuickBooks company File menu, select and click New Company and click on Express Start.
  2. Then add a bank account, (the one with the issues). In the newly created test company, and then set up the account for Bank Feeds.
  3. Then Download Bank Feed transactions to test the account.
  4. If the same error message persists, then there is an error with the bank. If there are no error messages then the issue probably is not with the bank.

Step 3: Run the account set up with the Ctrl Key suppressed.

  1. First of all, the user would need to create a backup of the QuickBooks company file.
  2. Check for the Inactive account in the QuickBooks file, that still has the Lightning Bolt
  3. Then deactivate the account for online services.
  4. The user now needs to run the Bank Feeds setup again and have to press and hold the Ctrl key each time a command is clicked and should be held throughout the process.

Step 4: Creating a new account and then merging the accounts.

  1. Click the right mouse button of the problem account and then click on Edit Account.
  2. The user needs to highlight the account name and then click on Copy.
  3. Enter an Asterisk (*) at the end of the account name.
  4. Click on the Bank Feed Settings and then click on the Deactivate All Online Services button.
  5. Click on Save and Close.
  6. Then, click on the Chart of Accounts to create a new account.
  7. Close and reopen the company file and click on the Chart of Accounts then select Edit Account.
  8. Remove the asterisk and right click on the account to select and click on Save and Close.
  9. When prompted, click on Yes and set up an account for Bank Feeds.
  10. Then download transactions to the newly merged account.

Step 5: Deactivate all accounts with online services.

  1. At the bottom of the window, there is an option that says Chart of Accounts, select the Include inactive checkbox and then click on deactivate Bank feeds.
  2. Close and re-open the file and set up each account for the bank feeds.

If the above steps did not seem to solve the issue, there is an alternative to contact the bank. However, the user can also get in touch with the QuickBooks support team in order to get this sorted for once and all.

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