QuickBooks Error OL-332 When Updating Account in Bank Feeds

There are many reasons why you are not able to update a bank or credit card account set up with Direct Connect in QuickBooks Desktop. Some banks, such as Chase, require you to pay an additional monthly fee in order to download transactions within the bank feed (as opposed to going directly to the bank’s web site). Other steps to fix may include getting the latest QuickBooks update, rebuilding the company file, and even deactivating and re-adding the account in the bank feed. Unfortunately, none of these steps may solve the problem.

QuickBooks Desktop still uses Internet Explorer, specifically version 11 (32-bit), as a system requirement even for its latest version 2021. However, some banks no longer support this browser for online banking. For example, Chase Bank only supports Chrome, Safari, Firefox, and Microsoft Edge.

You cannot change the default browser that QuickBooks uses. However, you can change it in Windows and it will fix this problem.

1. Click on Windows icon in the lower left corner.
   

2. Type Default Apps and click on this system setting.
   

3. Click on IE icon under Web browser and choose another installed browser, such as Chrome.

How to Make a Negative Deposit In QuickBooks: UPDATED

Updated May 4th, 2023: You can now record a negative deposit transaction in QuickBooks Online.

You can’t. From an accounting standpoint, there is no such thing, as a deposit is money added to the checking account. However, refunds to customers, specifically credit card refunds that are batched with charges that are less than the total amount refunded, is pretty common with some credit card processors and Stripe.

Solution

1. Create a new bank account in the Chart of Accounts called Clearing Account.

2. Create a new Bank Deposit.

3. Select Clearing Account for the Account.

4. Select refund (negative amount) and any other payments included in the deposit.

5. Under Add funds to this deposit, select the Checking Account under Account and enter the total amount of the deposit as a positive number. The net deposit amount should be $0.00.

6. In Banking, the negative deposit is now a Match.

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