QuickBooks is known for its remarkable services. Being an accounting software, it encompasses all the needed services to help you run your finance department without much manpower. It keeps track of your inventory, payee list, payrolls, tax tables, invoices, employee details, and much more. It is used by millions of users across the world. However, some errors could create great problems for you if not taken care of.
QuickBooks Error Code 1016 is one such error that hinders your accounting processing for good unless resolved. Our Accounting Errors help team is here to bring you the best possible solution for the aforementioned error on your Windows Operating Software-based system.
About QuickBooks Error Code 1016
|It is an OL and OLSU Bank Form-related error that occurs most of the time when you try to access the form.
|Changed their services offerings, Web Connect or Direct Connect., Enabled to be used for Online Banking could be inactive.
|Windows XP, Vista, 7, 8
|QuickBooks Desktop won’t respond or work, Windows operating system got frezon
|Internet Explorer and ensure that it is updated to the latest version., USE TLS 1.0 (uncheck it) and USE TLS 1.2 (check it).
QuickBooks Error Code 1016
What sets QuickBooks Error Code 1016 apart from the rest of the errors is its origin. An OL and OLSU Bank Form-related error occurs most of the time when you try to access the form.
What causes QuickBooks Error 1016?
There are several reasons which cause this error on your Windows Operating Software-based computer system:
- Sometimes the error occurs because of some problem with your Bank, which at times is referred to as your financial institution.
- They could have changed their service offerings, to Web Connect or Direct Connect.
- The name of the bank could’ve been changed because of the bank merger. It requires you to refresh your QuickBooks.
- The account enabled to be used for Online Banking could be inactive.
- The servers of the bank aren’t reachable.
- Problem with the internet connection.
- Error in the accounts registered in the company file.
- Corrupt download/import format.
- Using an obsolete version of either Windows OS or QuickBooks Desktop.
Resolving QuickBooks Error 1016
By following these easy steps, you should be able to resolve the error in no time:
1. First Solution: Try to enable TL1.2 Protocol on your Internet Explorer.
- Go to Internet Explorer and ensure that it is updated to the latest version.
- There will be a Gear Icon in the upper-right section of Internet Explorer. Click on it.
- Access Internet Options and then click on Advanced Tab.
- Get to the Security option on the list.
- You will see two options there: USE TLS 1.0 (uncheck it) and USE TLS 1.2 (check it).
- Select Apply and hit Ok.
- Shut down any program that is running, and restart the computer.
- The error is gone.
See Also – How To Fix QuickBooks Error 15215?
How do I identify whether the error is with my bank or the server when I encounter QuickBooks error code 1016?
Creating a new test company helps you in knowing the issue whether it is with your bank or the server. To fix the error code 1016, you can perform these steps: First, open your QuickBooks software and then move to the File menu. Select a New Company and then click Express Start. Add the bank account in the new company test which is creating issues. After that, set up the account for the bank feeds. To test the account, simply download the bank feed transaction.
How to recover an incomplete connection with the bank if I continuously get QuickBooks error code 1016?
Running the account set up with a Ctrl key may help you to fix an incomplete connection with the bank by bypassing the previously failed connection. Let’s see how: Open QuickBooks >> Files and then check for inactive accounts that have lightning. Deactivate an account for online service. Next, run the bank feed set up then press and hold the Ctrl key every time when you give the command. Remember that the CTRL key must be held in the entire process till you complete with entering details. Now, move to the Banking section >> Bank Feed. After that, go to the Bank Feed Center and then press Ctrl while clicking on send/receive and hold until the PIN screen appears. At last, enter the PIN and click on OK.
Is QuickBooks error code 1016 an online banking error? If yes then what causes such problems?
There might be a number of reasons due to which such problems arises such as you’ve pending alerts on your online bank account that need to acknowledge, your bank changes their services offering to Direct or Web Connect, the bank account has got inactive that has online banking, the bank information is not updated on the FiDir, issues with bank servers, Internet Connectivity issue, and more.
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