How to fix when QuickBooks is Unable to Verify Financial Institution
QuickBooks accounting software is comprised of numerous powerful features that help in the smooth running of the business. The software eases the regular accounting and financial tasks of the business. Eventually, there are performance errors due to some genuine issues that occur due to unexpected scenarios. One such error QuickBooks Error is: “Unable to verify the Financial Institution in QuickBooks”. This error indicates that QuickBooks does not accept a particular bank ID. In this scenario, it becomes very essential to recover QuickBooks and resolve this issue.
Resolving this issue will get the solution to change the bank ID number in the QBO file to another recognized QuickBooks number. QuickBooks Customer Service can be contacted round the clock for error assistance and information.
The error message as shown below is similar which appears on your desktop.
QuickBooks is unable to verify the financial institution information for this download. Please try again.
Possible Reasons for the QuickBooks Unable To Verify Financial Institution Error Occurrence
Web Connect import issues may occur if:
- Your attempt to import a .QBO files in to an older QB version that no longer supports the online banking service.
- Your import file is incorrect file type. (.QFX, .IIF, .CSV, etc.)
- The QBO files comprise of invalid details or formatting that is provided by your financial institution. QuickBooks fails to read the data from your Web connect (.QBO) file.
- Your financial institution does restrict import into QuickBooks (fi.intuit.com).
- You are not on a supported version of QuickBooks Desktop
Prior to importing the QB Online into the QuickBooks program, the QBO file should be opened in Excel or notepad
- Open file in Excel or notepad.
- Go to line 20 – <INTU.BID>2002
Change the last four digits to 3000
- Save file (Do not use “Save As”.)
- Upload file into QuickBooks
When the user downloads or imports a . QBO file from a supported financial institution, an error message occurs (OL-222) or nothing happens. The error messages that might crop up are as follows:
- Error: OL-222
- “An error occurred while processing your online banking data.”
- “Your data was not imported in to QuickBooks.”
- “QuickBooks is unable to verify the Financial Institution information for this download.”
- No error
Solutions of QuickBooks Unable To Verify Financial Institution Error
Intuit recommends a third important solutions to resolve the issue. They are as follows:
Method 1: Download directly from the website of the bank
Method 2: Duplicate the issue in a new test file
Method 3: Review the web connect (.QBO) download for obvious errors
For further information, you can contact QuickBooks. The professional experts handle the issues and answer all the queries and provide authentic information.
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Source: 99accounting
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