How to Fix QuickBooks Error OL 205 Easily?

QuickBooks Error OL 205 is a banking connection error that users face when updating their bank feeds or attempting to connect online accounts. It typically indicates a disruption between QuickBooks and the financial institution’s server. This article explains what this error means, why it happens, how to identify it, and most importantly, how to fix it using step-by-step instructions. You’ll also learn how to prevent it in the future and when to contact professionals for help.

Watch this quick video to learn the causes and solutions for QuickBooks Error OL-205.

What is QuickBooks Error “OL 205”?

QuickBooks Error OL 205 appears when the software cannot connect to your financial institution’s server during a bank feed update. It is a part of the OL and OLSU series of online banking errors. OL 205 is triggered due to incorrect bank details, outdated versions of QuickBooks, or temporary server issues.

This error prevents you from downloading transactions or linking accounts, which delays reconciliation and impacts financial reporting.

Why does QuickBooks Error “OL 205” occur?

QuickBooks Error OL 205 occurs due to several connection and account configuration issues. These are the common reasons:

• Bank server is temporarily down or under maintenance
• QuickBooks is not updated to the latest version
• Company file contains corrupted or outdated banking information
• Incorrect login credentials for the bank account
• Internet connectivity issues affecting QuickBooks’ ability to connect
• Changes in bank’s server or online banking format not supported by QuickBooks

How can you identify QuickBooks Error “OL 205”?

You can identify Error OL 205 through the following signs in QuickBooks:

• A popup error message with code OL 205 appears
• Online banking fails to connect to the financial institution
• Transactions cannot be downloaded or updated
• Bank feed update results in a connection failure
• A warning appears suggesting that the bank server is not responding

What are the steps to fix QuickBooks Error “OL 205”?

The steps below help fix OL 205 by checking bank settings, updating QuickBooks, and repairing connection issues.

Solution 1: Update QuickBooks to the Latest Version

Using the latest version ensures compatibility with bank servers.

1. Open QuickBooks
2. Go to Help > Update QuickBooks Desktop
3. Click on Update Now
4. Select Get Updates
5. Restart QuickBooks once updates are installed

Solution 2: Confirm Bank Login Credentials

Verifying credentials ensures the right access during sync.

1. Visit your bank’s website in a browser
2. Log in using your credentials
3. If successful, use the same login in QuickBooks
4. If there is an issue, reset the password on the bank’s site

Solution 3: Check Bank Server Status

Temporary outages can cause OL 205.

• Visit your bank’s official website or search for bank outage reports
• Wait until the bank resolves its server issue
• Retry updating transactions in QuickBooks

Solution 4: Deactivate and Reactivate Bank Feeds

Refreshing the bank feed setup can resolve misconfigurations.

1. Go to Chart of Accounts
2. Right-click the affected bank account
3. Select Edit Account
4. Click on Bank Feed Settings
5. Select Deactivate All Online Services
6. Click Save & Close
7. Repeat the steps to reactivate the bank feeds

Solution 5: Create a New Test Company File

Checking the bank feed in a new file helps isolate the issue.

1. Go to File > New Company
2. Click Start Setup and follow prompts
3. Add the same bank account and attempt a connection
4. If it works, the problem lies in your original company file

Is there an automated tool to fix QuickBooks Error “OL 205”?

QuickBooks Tool Hub provides automated diagnostics for errors like OL 205. Download the tool from Intuit’s official website. Open the Tool Hub, go to the Program Problems tab, and run Quick Fix My Program or File Doctor to identify and fix issues automatically.

How can I prevent QuickBooks Error “OL 205” in the future?

To prevent Error OL 205:

• Regularly update QuickBooks and your bank login credentials
• Use supported bank formats for online banking
• Avoid making changes to bank settings during active sessions
• Monitor your bank’s service notifications for planned outages
• Always perform backups before editing or deactivating online services

What if QuickBooks Error “OL 205” is not fixed after troubleshooting?

If the error continues after all solutions, the issue may be with your bank or company file integrity. Extended unresolved errors can affect your accounting workflow, so further action is required.

How can our experts assist you in resolving QuickBooks Error “OL 205”?

If you’re still facing QuickBooks Error OL 205, our trained experts at Error Code Experts can help. We offer remote assistance to diagnose and resolve banking feed issues quickly and securely.

Let’s Get In Touch

Dealing with a QuickBooks error? From installation issues to company file problems—we’ve got you covered. Chat or call now to get real help from real QuickBooks experts, 24/7. We resolve errors quickly so your business stays on track—without the wait.

Chat Now Call Now