QuickBooks Error OL 203 – Causes and Fixes

QuickBooks Error OL 203 - How to Fix

QuickBooks is considered to be one of the most reliable accounting and bookkeeping management software. The features and tools allow users to track all invoices in a matter of minutes. 

QuickBooks Error OL 203 - How to Fix

Unfortunately, even while being an awesome program, the application is not free from technical glitches, and errors can arise randomly when using this software. One such error that users might encounter is the QuickBooks Error OL 203.

This issue typically happens when a user performs to set up online banking in the application. When faced with these OL related errors users can implement the troubleshooting method mentioned in this detailed blog.

What Factors Causes OL 203 QuickBooks Error?

As mentioned earlier, QuickBooks desktop error OL 203 happens when setting up the QB online banking feature. However, several other factors may cause this problem to be displayed. 

  • The program is unable to verify the Internet Connection. 
  • Another cause for this error can be hardware failure leading to disruption in internet connectivity.
  • The system firewall connection can lead to the issue being shown onscreen. 
  • The company file may have an issue relating to one or more accounts. 
  • There is an issue with the download or the file is in an improper format.
  • The QuickBooks desktop application or the Windows version is outdated. 
  • There can be an issue with the bank and the user may be asked to connect with them to unlock the connection through online banking.

Solutions to Resolve the QuickBooks Error OL 203

Understanding the root cause of the error will help determine the correct solution to resolve the problem. The following steps can be performed manually if faced with a QuickBooks OL 203 error.

Resolution 1: Permit TLS 1.2 Security Protocol if it is Available

The procedures outlined below will assist you in permitting TLS 1.2 in the most recent version of Internet Explorer.

  • Open Internet Explorer 11 if you have the most recent IE version installed.
  • Click the gear button once in Internet Explorer.
  • Go to Internet Options 
  • Select the Advanced Tab.
  • Scroll down to discover the Security section.
  • Uncheck the USE TLS 1.0 box 
  • Tick the USE TLS 1.2 box.
  • Select the Apply option.
  • Now press the OK button.
  • After that, you must choose open apps and restart your computer for modifications to take effect.

If the same error notice appears, go to the next step.

Resolution 2: Create a new Test Company File

Sometimes the error is displayed if there is a problem with the bank servers. The techniques outlined here will assist you in identifying any glitch relating to it.

  • To begin, navigate to the QuickBooks File menu 
  • Pick a new Company.
  • Followed by Express Start.
  • After that, add the bank account with the problem to the newly established test firm.
  • Following that, you must create an account for bank feeds.
  • You are required to test the account by downloading bank feed transactions.

Resolution 3: Contact your Bank

As OL 203 error QuickBooks is related to online banking. It may arise if there is a problem with the bank servers. If this is the case, then, it is recommended to contact the bank. All financial institutions have a support channel for users. 

  • Before connecting to bank representatives, first, collect bank feeds to log files. The Connlog file will assist in determining the cause of the connection failure or issue.
  • Because the best way to access QuickBooks is through Online Banking, the majority of OL issues will need to be rectified through the bank.
  • When appropriate help is offered via bank support channels, request a transfer to a bank person who is knowledgeable with QB Desktop Bank Feeds and account activation.
  • Have the agent check your account details and designate it as active for any applicable services that QB Desktop requires.
  • If the problem does not resolve or reoccurs, ask the bank representative to reproduce the situation at your bank’s assistance help desk.

Resolution 4: Use the Online Service to Deactivate Accounts

Users can use this step to deactivate their banks account using the online service. However, this procedure takes time.

  • A user will find OS at the bottom of the window in the offered chart of accounts. Select the included inactive checkbox option.
  • If the account is dormant, deactivate your bank feeds.
  • Then, close and reopen the file.
  • Set up your bank feeds for each account now.

Resolution 5: Make a New Account and Combine Accounts

There may be complications with setting up the account or downloading the financial transactions in several circumstances. If QuickBooks error OL 203 is caused by that account, the methods listed below will help you resolve it.

Before proceeding with the instructions below, you must complete any outstanding financial transactions/reports. This may require matching any previously downloaded financial transactions/reports that have not previously been matched.

  • Go to the “Chart of Accounts” option 
  • Right-click on the account connected with the problem.
  • Select the “Edit Account” tab now.
  • Select the “Account Name” icon 
  • Then select the “Copy” option.
  • You must include an asterisk * at the end of the account name.
  • In the Bank Feed setting option
  • Choose the “Deactivate All Online Services radio” tab 
  • Select the “Save” 
  • Then the “Close” icons.
  • You must establish or develop a new account under the “Chart of Accounts” section.
  • Mention the Account’s name without an asterisk.
  • Close and then reopen the QB Company file.
  • In the “Chart of Accounts” pane, right-click on the asterisk marked ‘account’ 
  • Pick the “Edit Account” tab.
  • Remove the asterisk 
  • Then click the “Save” icon. 
  • And “Close” icons.
  • While the warning notice is displayed in the dialogue box. It will ask you to click the “Yes” button.
  • You must register an account for the ‘Bank Feeds’ purpose here.
  • You may now download financial reports from the newly combined account.

Conclusion 
QuickBooks error OL 203 hinders the application’s ability to connect to online banking servers. This can cause serious risks in the ongoing task. However, the information provided in this blog is created to provide you with simple and easy resolution to address the issue.

Frequently Asked Questions – FAQs

Why am I seeing QuickBooks OL 203 error?

The error usually happens when setting up an online banking system. It can be caused to a connectivity issue or server failure.

What is TLS 1.2 Security Protocol?

Transport Layer Security (TLS) 1.2 is the successor of Secure Sockets Layer (SSL), which is used by endpoint devices and apps to authenticate and encrypt data securely when it is transported over a network.

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