QuickBooks Banking Error 102—What are the Ways to Confront it?
QuickBooks solves accounting hassles by facilitating users with advanced features & benefits. It keeps working on limitations & drawbacks to make it more effective than before for accounting professionals. That’s why this accounting software has become the first choice of small business owners.
QuickBooks is composed of different tools, programs and IT which makes it a multipurpose software & a bit complex to understand for newbies or sometimes for intermediate level users. There are so many advantages of the software & some drawbacks as well.
Here, we are going to discuss the error which must be known to every QuickBooks user to let accounting process go smooth.
QuickBooks Banking Error 102 is Caused Due to the Following Reasons
- There’s some technical issue faced by Bank website
- Problem is with bank server. Sometimes when it is down for maintenance, connection with software isn’t established.
At the initial step, user rushes to search for a solution on the internet. However, QuickBooks officially provides help to its users through its site. In case of urgency, users find phone call help as a reliable mean to get assistance. Experts, supposed to have in-depth knowledge of each & every aspect of the accounting software can sort problems of users in the least possible time with a great piece of accuracy.
Still, if you do not want to show your dependency on others, then go ahead with the discussion, where you can know more about banking error 102. In a step towards resolving this error, you need to follow below-mentioned details:
Check For Account Updates—It might be the reason
The absence of updates can be the reason behind QuickBooks banking error 102. Therefore, you need to check for updates. The account can be updated both manually & automatically. The automatic updates to the banking account are usually started at 3:00 am time.
Sometimes, QuickBooks online server can’t receive updated info of any specific account first time, then it makes next five consecutive attempts, each after an hour. We receive any piece of information depending on what & when the financial institution shares with us
New information is sent by financial institutions either daily, weekly or other time. The exact time of updates can be seen by going to “banking” menu->choosing “update” button. The date & time of the previous update is seen listed under last updated column.
No, every account is automatic, there might be a requirement of manual updates in many of them. Once after completion of the automatic update, you still can’t see entered details of the current day, then you need to update information manually. Steps to manual update are discussed below:
- Select option, “banking” navigating to left screen corner
- If you’re willing to update only selected accounts, then choose an option, “Clear unwanted Accounts”.
- Then after, select “update now”.
- Submit MFA details to authenticate
- Then click “continue”
Check Account login info—you may not be able to join the bank
Try to login bank account using the official link of a financial institution to check that details are correct & you are able to access your account here. If found any issue to connect with the bank, then you should add/connect your bank accounts in QB online for troubleshooting and downloading transactions.
Steps for connecting the bank account in QB online:
- Go to the banking option,
- Search for the name of the financial institution if your account is still not linked with any bank
- After that add your bank account by choosing an option, “add account”.
- If you are already linked to the account, enter banking credentials and follow additional steps for security verification & select option to connect securely.
- Now choose the account, bank type or credit card account.
- After first joining of account, transactions of last 90 days are downloaded automatically.
- Once the download is completed successfully, you will be again directed to the banking page.
- Now select “connect”, it can take some time
- You can see the downloaded transactions in the review tab.
Is your account new to the bank— some New accounts aren’t identified by bank
In case your account is new to a credit card or bank, then error 102 is more likely to be faced.
The reason behind the error is that some accounts do not work with online banking. Therefore, in such cases, you need to contact your bank company.
Account information or notification— Read them carefully
- You should check for any warning message or notification from your bank showing something wrong.
- Major account information like account summary, history & transactions should be maintained accurately
Give Bank Time at least 24 hours—Bank works mends the issue
After trying & verifying all above-mentioned steps, if the error is still not removed, they should wait for the bank at least 24 to resolve the problem that might be caused due to its server issue.
Hope, you understood ways to fix 102 Banking error, if trying all still the error persists, then you really need an expert assistance. At this stage, it is recommended to take a suggestion from experts at QuickBooks Support Phone Number.