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QuickBooks Error OLSU 1024 – Fix it Now

Quickbooks Error olsu 1024

Many times while creating or linking bank accounts with your QuickBooks, you may face some stubborn error. These errors hamper and restrict your work productivity. One such error is QuickBooks Error OLSU 1024.  This is a banking issue and appears when the users try to create a bank account in QuickBooks. Most of the time, the Quickbooks Error OLSU 1024 is followed by the appearance of the error OLSU-1022. And thus, it becomes important to resolve the Quickbooks Error OLSU 1024 before it becomes a bigger problem. Follow the instructions and methods given in this article to resolve QuickBooks error OLSU 1024. 

What does the QuickBooks Error OLSU 1024 mean?

QuickBooks Error OLSU 1024 is commonly referred to as a bank feeds error. It appears when the user uses the QuickBooks Online Banking feature to reconcile bank accounts and provide accurate information to the system. Thus, in order to create or link a bank account to QuickBooks, access to the FLDir.txt file is needed. This file stores the information about your financial institution. However, the QuickBooks error OLSU 1024 appears when an issue occurs while connecting the bank account to QuickBooks. The error message that is displayed on the screen says, 

“An error occurred while updating the branding files! 

Please restart the Online Banking Setup Wizard to initiate the update process again.”

Quickbooks Error OLSU 1024

The error message clearly specifies that it occurred while updating the branding files. And prompts you to restart the wizard for online banking setup to restart the updating process.

Read the next parts to read the know about the causes and detailed troubleshooting methods for QuickBooks error OLSU 1024.

What are the Possible Factors leading to QuickBooks Error OLSU 1024?

The main reason for the appearance of QuickBooks Error OLSU 1024 is the outdated or missing FiDir.txt file. Although other reasons can also trigger the QuickBooks error message OLSU 1024, they are described below:

  • Several times, the QuickBooks Error OLSU 1024 appears due to some issue at the bank or financial institution’s end.  For example, your bank might be having its server down, or your bank has changed its name, and it needs to be updated in QuickBooks.
  • Sometimes, an inactive bank account can also result in QuickBooks Error OLSU 1024.
  • Any issue with the internet connectivity can also raise the error OLSU 1024 in QuickBooks.
  • There can be some issues with the downloaded or imported format.
  • There might be certain alerts that are not acknowledged after you have logged into the online banking directly on the website.
  • Your financial institution might have made some changes, like in the service offerings, web connect, or direct connect.
  • Your bank website is having some issues.
  • There is some issue with your company file.
  • Your FIDIR.txt file is either damaged or missing from the system.
  • Your bank’s directory is outdated.
  • The preferences for fidir.txt are inappropriate.
  • You have not saved the bank information in the correct folder.

Points to Remember before troubleshooting QuickBooks Error OLSU 1024

Before proceeding with the troubleshooting methods, You need to take care of certain points, including your internet connectivity, QuickBooks version and others.

  1. Check whether you are connected to the internet or not.
    • If not, make sure to have a stable internet connection before starting, as you will be required to download banking transaction details and also need to send emails.
    • However, if you are connected to the internet, check the firewall and internet security settings on your system.
  2. Check if the latest update of QuickBooks is installed on your system or not.
    • If you do not have the latest version, first update your QB application.
    • If you are already using the latest version, continue with the troubleshooting solutions.
  3. Have you downloaded the transactions from the bank to the QuickBooks company file?
    • If already done, continue with the process.
    • If not done yet, then you need to contact your bank and verify the account information.  You would also need to ensure that your bank is not facing any outages.
  4. Check if you are able to log in to your QuickBooks account outside of QuickBooks software, like through a website.
    • If it allows you to log in, then proceed ahead with solutions.
    • If you can not, then you need to contact your bank and verify your account detail.
  5. Do your results tally with the Classic Register view?
    • If they tally, move forward with the solutions. Note: Remember that the register mode can be more forgiving in terms of OFX formatting standards that banks use for statement download and import.
    • If the results do not tally, then for testing purposes, you need to switch to the register mode, which is the classic one and then import or download it again.  To do this, click on the Edit option, then select Preferences. After that, select Checking from the left pane and click on the Company Preferences tab. Now opt for the Classic Register View from the Bank Feeds section.

Read Also – QuickBooks Error OLSU 1014

Troubleshooting Methods for QuickBooks Error OLSU 1024

The QuickBooks error OLSU 1024 mainly arises because of issues with financial institutions, so to resolve the issue, you need to update and check Financial Institution Directory.

Method 1: Update Your QuickBooks to the Latest Available Version

  1. Close all the files on the QuickBooks application on your system.
  2. Tap on the Windows Start button and then locate QuickBooks from the list of all the programs.
  3. Next, you need to click right on the QuickBooks icon and then choose the Run as administrator option. 
  4. You need to wait till the No Company Open Screen pops up.
  5. Now, go to the Help menu and then choose the Update QuickBooks Desktop.
  6. Now, you need to go to the Options menu and then choose Mark All and then click the Save button.
  7. Next, tap on the Update Now option and check the Reset Update checkbox.
  8. Lastly, click on the Get Updates option to start downloading the update file.
  9. When the updates file gets completely downloaded, open the QB application and install the update.

Method 2: Update Your Financial Institution Directory to the latest version.

An outdated Directory of your financial institution or bank can also result in QuickBooks error OLSU 1024. So you need to update the directory to the latest version by following the given steps:

  1. First, go to the Windows File Manager and then navigate to the QuickBooks folder. Most probably, the folder location would be C:\ ProgramData\ Intuit\ QuickBooks 20XX\ Components\ OLB\ branding\ filist.
  2. Then, locate the FiDir.txt file and Rename it. You need to add the prefix .old to the FiDir.txt to rename the file.
  3. Next, you need to download the latest Financial Institution Directory by visiting the link that represents next to the version of QuickBooks that you use.
  4. For the next step, a save window will appear on your screen. Save the file by selecting the desktop a the location and then tap the Save option.
  5. Once the download gets completed, tap the close button to close the tab.
  6. Next, you need to copy the downloaded fidir.txt file to correct the filist folder.
  7. For that, go to the fidir.txt file, press the Ctrl + A keys on your keyboard, and copy the entire text on the page; press the Ctrl + C keys.
  8. Next, go to the desktop of your computer and then click right on it.
  9. Now, move your cursor to the New section and then choose the Text Document option.
  10. Open the text file and paste the copied text there.
  11. Now, save the file by tapping on the Save button.
  12. Next, click right on the text file and then Rename it.
  13. Give the file name fidir.
  14. Now, copy the file and paste it to the QB folder that is C:\ ProgramData\ Intuit\ QuickBooks 20XX\ Components\ OLB\ branding\ filist.
  15. Lastly, you need to set up your QuickBooks account once again and this process.

Method 3: Repair Your QuickBooks to resolve the QuickBooks Error OLSU 1024

This method follows a two-step procedure. First is to uninstall the QB and then reinstall it if the repair doesn’t work.

  1. Start by pressing the Windows key + E together. (you need to tap the computer tab for Windows 8)
  2. Next, move to the Uninstall program option.
  3. Then, click right on QuickBooks and then select uninstall/change option.
  4. An installation window will appear before you; click on the Next button. After that, you need to tap the Repair button.

If the Repair does not resolve the QuickBooks Error OLSU 1024, then follow the below-given steps:

Steps to Uninstall the QuickBooks Desktop application
  1. Go to the Start menu and then open the Control Panel by clicking on it.
  2. In the window of the Control Panel window, click on the Programs and features option. 
  3. From the list of programs given there, choose QuickBooks.
  4. Next, you need to right-click on the Uninstall/Change option.
  5. Choose the Uninstall option from the given options.
  6. Next, you need to follow the steps given on the screen to uninstall the program properly.
Steps to Reinstall QuickBooks Desktop application
  1. Download the .exe file from a trusted source and save it to the desired location.
  2. Next, go to the downloaded .exe file and then double-click on it. It will start the installation process.
  3. Next, on the installation wizard, click on the Recommended installation type and follow the given steps.
  4. Lastly, follow the given steps and finish the installation process.

Method 4: Create and Merge accounts to QuickBooks Error OLSU 1024

For this method, you need to create a copy of your account and then merge it with the same old one. This step is carried out if there is any sort of issue with the company file.

  1. Start with moving to the Charts of Accounts.
  2. Click right on the affected account, then opt for the Edit Account option.
  3. Next, copy the account name.
  4. Now, head forward and add an asterisk (*) at the end of the account name.
  5. Now, move to the Bank Feeds Settings tab.
  6. Then, hit on the deactivate All Online Services option, then click OK.
  7. Finally, tap the Save and Close option to deactivate it.
  8. Now, you need to create a new account from the Chart of Accounts option. Remember to set the account name to the same as you copied in step 3.
  9. Conclude by closing it and reopening the company file.
Steps to Merge both the Accounts
  1. To merge the accounts, first go to the Charts of Accounts.
  2. Then, you need to click right on the account with the asterisk in the name and then hit the Edit Account option.
  3. Next, delete the asterisk from the name and then press the Save and Close buttons.
  4. Next, in order to merge the accounts, click Yes.
  5. After that, you need to set up Bank Feeds.
  6. Lastly, check if you are able to download the transactions without any issues.

Method 4: Edit the Preferences in the fidir.txt to resolve the QuickBooks Error OLSU 1024

  1. Locate the fidir.txt by navigating to the given path. The path is C:\ProgramData\Intuit\QuickBooks 20XX\Components\OLB\branding\filist
  2. Next, click right on the File menu and then choose the Properties option.
  3. Here, you have to check the Read-only box.
Wrapping Up:

Well, the above methods can help you to resolve the QuickBooks Error OLSU 1024. As this error is related to your financial institution, try to check with your bank first before moving forward with the steps. Sometimes problems at their end can also trigger the QuickBooks Error OLSU 1024, and as soon as the issue gets resolved by them, the error disappears. However, if the issue is at your end, you can follow the given methods. But always remember to create a backup for your company files before performing any troubleshooting steps. For any other assistance, you can contact our support team anytime.

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Lily Evans

Lily Evans is a Certified Accountant with Expertise in QuickBooks, Sage and Quicken Accounting Software. Lily has been working with Data Service Solutions for the last 3 years as a QuickBooks Expert and is Helping Accounting software users with their day to day accounting tasks and issues.

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