QuickBooks error code 1016 is usually seen when the user tries to connect to the bank account in QuickBooks. This error is an online banking error, which is a common QuickBooks desktop banking setup error. It is also a bank feed error that might caused due to an inactive bank account. It is an OL and OLSU Bank form related error that might arise when the user tries to access the form. If you are also facing such an error, then reading this post ahead carefully would be of great help. Such an error arises when the bank is unable to authenticate the QuickBooks connection to the bank. This article will brief you with the QuickBooks error code 1016, its causes, and also the fixation steps.

Getting in touch with a professional makes the process of getting rid of the error much easier for the user. We recommend you to contact our QuickBooks support team at our toll-free customer support number i.e. 1-844-405-0906, if you are unable to decide what to do. Our technical support team and ProAdvisors will help you in getting rid of the error with much ease.

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Causes of QuickBooks error 1016

There are a few possible causes of this error, which includes the following:

  • This error usually occurs when there is any issue with the bank
  • The bank could have altered their service offering, web connect or direct connect
  • Or if the user is unable to change the name of the bank due to the bank merger. This requires the user to refresh QuickBooks
  • The account turned on to be used for the online banking could be inactive
  • Also, if the servers of the bank aren’t reachable
  • In case there is any issue with the internet connection
  • Or if there is an error in the accounts registered in the company file
  • Any corrupted download/import format
  • Using an obsolete version of either windows OS or QuickBooks might be one such reason

How to troubleshoot the QuickBooks error code 1016?

In order to resolve the bank feed error 1016, the user can carry out the steps and procedures below:

Step 1: Enable the TLS 1.2 security protocol

The user is suggested to enable the TLS 1.2 security protocol. TLS 1.2 is basically the latest security protocol in the internet explorer. The steps below can be followed in order to enable it:

  • The very first step is to open the internet explorer
  • And then click on the gear icon
  • The next step is to navigate to the internet options
  • Followed by clicking on advanced tab
  • And then scroll down to the security section
  • Also, mark the TLS 1.2
Enable the TLS 1.2 security protocol - Screenshot
  • Moving ahead, the user needs to click on apply and then hit OK button
  • And then, close all programs and then reboot the system

Step 2: Create a new sample company file

Creating a new sample company file helps in knowing if the issue is with the bank or their server. The step to be followed are:

  • First of all, open QuickBooks and navigate to the file menu
  • After that, select the new company
  • And then, click on the express start
Express start - Screenshot
  • Also, in the new company test, the user needs to add the bank account that was creating the issue. And then set up the account for the bank feeds
  • The last step is to test the account download the bank feed transaction.

In case the same message appears on the screen, then the user needs to contact the bank.

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Step 3: Running account setting up with ctrl key

Running account setting up with ctrl key - Screenshot

This process usually helps the user in recovering the incomplete connection with the bank by bypassing the previously failed connection. The user is recommended to backup the data before performing the steps. The steps to be followed are as follows:

  • Initially, in QuickBooks, the user needs to check the inactive account
  • And then, deactivate the account for online services
  • After that, run the bank feed set up and press and hold ctrl each time giving any command. The ctrl should be held throughout the process till entering the information
    • The user needs to navigate to the banking, and then click on the bank feed
    • Also, click on the bank feed center
    • Followed by, pressing ctrl while clicking on send/receive and also hold the until PIN screen is shown up
    • The user is then required to enter the PIN and then click on OK

The user is recommended to hold the CTRL key till the time the message transaction has been downloaded appears.

Conclusion!

It is expected that you might have understood the way in which the QuickBooks error code 1016 can be resolved and also you might be successfully able to deal with this issue. We recommend you carry out each of the above stated methods under the supervision of a professional.

If you are having any query in attempting any of the above procedures or if you are stuck somewhere, then feel free to reach out to our QuickBooks pro support number i.e 1-844-405-0906. You can ring up to us at any point of time, and our professionals will be help to help you.

 

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