Quickbooks allows its users to link their bank account within the software that offers ease in managing the financial operations of the business. However, there is some Quickbooks Error which can trigger while trying to access your Bank account from the Quickbooks Software. The Quickbooks Error 1016 is one such error that occurs while trying to download transactions from your bank account.
There could be various possible reasons that can cause this error such as damaged files, Network Connectivity issues, etc. You can easily troubleshoot this error by fixing these causes. In this article, We have provided some of the best ways to fix this Quickbooks Error. Along with this, We have also mentioned the issues that lead to this error.
What are the Causes of Quickbooks Error 1016?
These are the reasons that can cause this Quickbooks bank feed error.
- You might get this error if there is any kind of change in the banking service but it’s not updated in the Quickbooks Software.
- Network connectivity or server issues can also cause this error.
- If the account that is linked with Quickbooks Software becomes disable or inactive.
- Damaged or corrupted files in the System can also cause this error.
- Poor Internet Connection or Network Issues can also cause this error. Ensure to check the network connectivity before connecting to the bank server.
- Any kind of issue or conflict with the Account linked with the Company file can also cause this error.
- If you are using an Outdated version of Quickbooks Software then you are likely to experience this error.
How to Fix Quickbooks Error 1016?
Below listed are some of the best available methods which can be used to troubleshoot this error quickly. Before troubleshooting this error, Make sure to create a backup of the company file to ensure data security in any kind of error.
Process: 1 Turn On Security Portal
In order to troubleshoot this error, you will be required to enable the TLS 1.2 security protocol. If you have windows 10 then you can follow the steps mentioned below:
- Close all the running programs and open the Internet Explorer window.
- Click on the Gear Icon and then go to the advanced tab.
- Now from the security Option list, Mark the checkbox of TLS 1.2 and then choose the apply option.
- Now click on “Ok” and then restart your device.
Process: 2 Test Company File
this process will help you to determine the cause of this Quickbooks Error.
- Go to the Desktop Screen and double-click on the Quickbooks Icon to open it.
- Now go to the File menu and Choose the New Company file Option.
- After this, choose the express option and then add the details of the account that is causing this error.
- Once the account is linked successfully, Open the account dashboard window and try downloading the transactions.
if while downloading the transactions from the bank account, if you are getting the same error then this is probably because of some issue with your Bank Server. you will be needed to contact your bank to fix this error.
Process: 3 Account Set-up Feature
The Quickbooks Account Set-Up feature will help you to successfully connect with your Bank account based on the last transaction details. make sure to backup your data before proceeding with this process.
- Go to the Quickbooks Software and go to the My Accounts option.
- Locate and find all the accounts that are inactive but still in use.
- Open these accounts and deactivate all these inactive accounts.
- After this, Open the bank feed setup window and then follow the methods give below to use the Account-setup feature. You will be required to hold the control Key while entering Commands in the bank feed.
- Open the Bank feed and go to the Bank feed Center window.
- Move and hover the cursor at the Send/receive button while holding the Control key.
- After this, Enter your PIN When the PIn Screen Appears on the screen, and then click on Ok to save the changes.
- Now, wait till the process completes.
After successfully Completing this, open the Quickbooks Software and try downloading transactions from your bank account. If it’s still showing the error then these methods might have not worked. you can then contact the Quickbooks Experts. they are well-trained professionals who can help you with any kind of issue with the Quickbooks Software. You need to simply send your query to the experts at Quickbooks.