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Learn how to fix import issues in QuickBooks Desktop.

If you see one of these messages when you download or import transactions from your bank, there may be an issue with Web Connect:

“QuickBooks found an error. We can’t read the file {your financial institution} sent.”

“An error occurred while processing your online banking data.”

“Your data was not imported into QuickBooks.”

“QuickBooks is unable to verify the Financial Institution information for this download.”

QuickBooks seems stuck and asks you to select a new or existing account when you try to download.

Web Connect issues can occur for several reasons. Sometimes, files from the bank are incomplete or in the wrong format. Changes on your bank’s end can also create issues. Here’s how to fix common Web Connect errors.

Before you start

Before you import your transactions into QuickBooks:

Follow the steps to create a backup of your company file.

Make sure you’re using a supported version of QuickBooks Desktop.

Update Internet Explorer to the latest version.

Step 1: Download the Web Connect file

Download your Web Connect file directly from your bank, not from inside QuickBooks.

Sign in to your bank’s website

Find and download the Web Connect file (.qbo file).

Open QuickBooks and your company file. Then follow the steps to import the .qbo file.

If you see an error when you download or import the file, there may be an issue with your bank. Reach out to your bank for help.

If can import and see your transactions in QuickBooks, follow the steps to reset your bank connection.

If you still see an error, move on to Step 2.

Step 2: Check the file from your bank

Make sure the file you downloaded from your bank is a .qbo file. This is the only type of file Web Connect can read.

If you have a .qbo file from your bank, move on to Solution 3.

If you have a different type of file, sign in to your bank’s website and download a .qbo file. If you need help finding this, reach out to your bank. Go back into QuickBooks and follow the steps to import the .qbo file.

If you still see an error, move onto Step 3.

Step 3: Review notifications from your bank

Check your bank’s website

If your bank changes how they support QuickBooks Desktop, they’ll notify you. Sign in to your bank’s website and check your messages. If you see any messages about changes, follow the instructions.

If your bank stopped supporting Web Connect, follow the steps to disconnect your account.

Check your bank’s website for verification requests

Some banks ask you to confirm your identity before they can access your QuickBooks data. This sometimes happens after reinstalling or updating QuickBooks to a newer version.

Sign in to your bank’s website and check your messages. Look for any requests for access and follow their instructions to approve them.

If you don’t see a message, move on to Step 4.

Step 4: Switch banking modes

In QuickBooks, select the Banking menu.

Hover over Bank Feeds and select Change Bank Feeds Mode.

In the Bank Feeds section, select Classic mode (Register mode).

Then follow the steps to import the .qbo file.

If you still see an error, move on to Step 5.

Solution 5: Create a test file

Let’s check to see if the issue is with your company file or the .qbo file. See if you can import your transactions into a new company file.

From the File menu, select New Company.

Choose Express Start and fill out the required fields. Add the word “Test” to the company name so it’s easy to recognize.

In the test company, follow the steps to import the .qbo file. Import the transactions into the same bank account you’re having issues within your main company file.

Follow the next steps based on whether you could import the .qbo file into QuickBooks.

If you could import the file

If you see your transactions in the test file, there may be a settings issue. Go back to your original company file and reset them.

Open your original company file.

Follow the steps to disconnect the account you’re having problems with.

Then reconnect the account.

Once you reconnect, import the .qbo file again.

If you can import your transactions in your original company file, everything is fixed.

If you still see an error, reach out to our team so we can help.

If you couldn’t import the file

If you don’t see transactions in the test company file, the issue is likely with the .qbo file from your bank.

Reach out to your bank for help getting the right file. Banks and financial institutions that use Web Connect know how to handle these types of issues.

Before contacting your bank, get your Bank Log files. These will help them find the issue or error.

Speak to a bank representative familiar with QuickBooks Bank Feeds and account activation.

Ask them to verify if your QuickBooks account(s) are set up for Web Connect.

If you need to, ask the representative to file a case via the Open Financial Exchange. Take note of your case number.

Next steps: Advanced troubleshooting

If you still need help, use these advanced troubleshooting steps. We only recommend these if you’re a confident computer user.  Reach out to our team so we can help.

Review the Web Connect file for errors

Open the .qbo file you downloaded from your bank.

Right-click the .qbo file and select Open with Notepad (or Excel).

Review the file for common errors: remove invalid characters, ampersands, and other strings such as:

Add or edit missing markup. All tags in the file should have the following:

Note: If the Payee name field is longer than 32 characters, the rest of the info appears in the Memo field.

QuickBooks won’t auto-match payee info in the Memo field. You’ll need to match them manually.

Check your bank identification number

If the .qbo file is missing the bank identification information (BID), your transactions also won’t import.

Select your QuickBooks version to find the unique BID information for your bank:

2020 (US, CA, UK)

2019

2018

2017

2016

Press Ctrl and F to find your bank’s name and identification number.

Write down the 5-digit number. Then make sure the following are correct in your .qbo file:  7319_03.jpg

Save the .qbo file.

Follow the steps to create a backup of your company file before you try to import the corrected .qbo file again.

However, in case you encounter any user query or you just have any doubt regarding a particular step, feel free to reach out us at the QuickBooks Customer Number @ 1-800-290-0629. You can also visit @ www.qbooks247.com

Post Author: qbooks247

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