QuickBooks is the best accounting software in the world. It assists small and mid-sized business owners, entrepreneurs, and accountants in achieving their business objectives. This innovative software is designed to help companies effectively manage their financial operations. The primary goal of this accounting software is to make accounting activities easier.
Given its extensive feature set, which includes the ability to generate financial reports, manage taxes, and handle payroll activities, this program is not error-free. Of all these faults, QuickBooks error 102 is the most frequent.
This error could appear when your bank’s website has technical issues and is undergoing website maintenance or when a server is having trouble sending data between the bank’s website and QBO.
Let’s now understand the true nature of this error, its primary causes, and the distinct symptoms and indicators accompanying it.
What is QuickBooks Error 102?
QuickBooks banking error 102 is an error that appears when the bank’s server is undergoing maintenance or when a problem is connecting to the bank’s website. You can encounter this problem when you attempt to connect to the bank account from within QuickBooks software. It also stops QuickBooks from downloading or uploading transactions.
When such an incident occurs, a warning banner that reads, “Online banking connection has been interrupted,” appears on the screen. The user may find this annoying. Therefore, we have attempted to investigate all the details surrounding QuickBooks error 102 in this article.
Now let us understand that what are the possible reasons behind its occurrence as follows:
Probable reasons for QuickBooks error 102
The main factors that are linked to it are as follows:
- One leading cause of this error is a problem at the bank’s end, such as a server outage or a website unavailable for maintenance.
- QuickBooks error 102 could occur if your server system’s network connection is unstable.
- QuickBooks error code 102 may appear if your system has many browser extensions installed or the browser settings are not configured correctly.
- Errors can occur when you attempt to log in to your bank account using incorrect credentials.
- Another reason this error could occur is if you have a new bank account and have not used the online banking option yet.
These are some of the most likely causes of error eruption, but did you know that some signs point to the possibility of this error occurring before it does? So let’s address them individually as well:
Signs and symptoms behind the occurrence of this error
Here are a few points that are pertinent to this:
- The computer and Windows operating system perform poorly, and keyboard and mouse inputs are either not responded to at all or respond slowly.
- Regular system crashes could be a problem, sometimes resulting in QuickBooks data loss (if the data is not stored).
- The primary consequence is that QuickBooks error 102 prevents the banking transactions from being completed.
- The installation procedure can be paused.
- It becomes challenging to download banking transactions via online banking.
- This problem may be indicated by the blue loading circle that continues to spin.
- To inform the user where to start the resolution process, an error notice with the code & description may appear.
After learning more about the nature of this error and the leading causes of its occurrence, we need to review all potential solutions to determine how this problem might be fixed and which are the most important ones for doing away with it. So let’s talk about each one individually.
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Troubleshooting steps to fix QuickBooks error 102
Therefore, let’s go over each point individually;
Solution 1: Verify that the account information is accurate
To access your bank account, you must use the URL provided by your bank for online banking. If you are having trouble connecting the account, follow the instructions below.
- Click on Banking after selecting the menu.
- If this is your first time linking to the bank, click Search and find the bank’s name.
- Next, locate your bank’s name and select the Add Account option.
- Once your bank has been chosen, log in using your credentials.
- After that, select Connect securely after tapping Continue.
- Click the bank icon using the drop-down menu to connect your bank.
- You must now choose the credit card account or bank type. If you don’t already have an account, click the Add + New option.
- After that, QuickBooks will automatically download all the online transactions from the previous ninety days.
- Select Connect once more.
- Return to the banking tab after completing the process.
- Lastly, approve the QuickBooks transactions by selecting the Review tab.
Solution 2: Perform manual updates to QuickBooks online
Click Menu > Banking, delete unnecessary accounts, choose Update Now, input Multi-Factor Authentication (MFA), and click Continue to save the changes. This is how you manually update QuickBooks Online.
- First, select the Banking option by clicking Menu.
- After that, select the undesirable accounts so you can update them.
- Click Update Now after that.
- You must provide multi-factor authentication or MFA.
- To save the modifications, click Continue at the end.
Solution 3: Check your banking login credentials
QuickBooks error 102 can also result from utilizing the wrong banking credentials.
- Initially, attempt to enter your credit card and bank details on the page and check for any errors. If the website is error-free, perform these steps:
- If the name of your financial institution hasn’t been connected to your Quickbooks yet, search for it.
- If you have already connected it, click the “add account” option in the screen’s upper-right area.
- Find the domain name of your financial institution here.
- From a list of financial institutions, choose the name.
- You must now input its credentials before proceeding.
- If asked, you can complete more verification procedures and then select “Connect Securely.”
- Select the bank symbol on the left of the account you want to connect.
- Also, choose the account type from the drop-down option by selecting the bank/credit card account type.
- QuickBooks will download all online transactions from the previous ninety days as soon as your account is securely linked. This includes banking and credit card transactions.
- After that, you must select “Connect” & wait for it to happen.
- You will be returned to the banking page after the download.
- Finally, check the downloaded transactions tab to ensure everything functions correctly.
Solution 4: Bank connection needs to be updated
Usually, when QuickBooks error 102 occurs in your system, it is resolved within 24 hours. Until it is decided, we can manually update the bank connection in QuickBooks. The procedures involved in this are as follows-
While using QuickBooks online:
- Simply enter all of your login information to access your QuickBooks online account.
- Then, proceed to the section on bookkeeping.
- Following this, you must select the transaction options and bank transactions.
- Then, finally, tap the update option.
QuickBooks self-employed
- Now, log in to your QuickBooks self-employed account using all the correct information.
- The profile symbol will then appear; simply tap on it.
- You must select the bank accounts tab there.
- Additionally, you must select the refresh all option after all of this.
You can use the following to confirm when you last updated:
- Select the banking tab after navigating to the menu bar’s left side.
- The update option is then visible in the upper right corner, and you must click on it.
- The last updated column will be located there. You can use it to identify the precise time and date you last changed it.
Thus, the QuickBooks error 102 update will likely be fixed. However, if it persists, you’ll need to repeat the same steps and try again after two to three hours.
Solution 5: Set it to update itself automatically
If QuickBooks cannot update via a bank account, it will attempt to update five more times during the following five hours. You may keep an eye on the updates by following these steps:
- Using the left sidebar, access banking.
- Following that, check on the upper right side for the update option.
- Next, the most recent time and date will be displayed.
- Proceed with a manual upgrade now.
- Next, go back into banking.
- By choosing “clear unwanted accounts,” you can only update the accounts you want to.
- Click on the “now available” update option.
- Once you have entered your MFA information, select the Proceed tab to proceed to the software upgrade.
- Finally, your updates will be completed within ninety days.
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Solution 6: Allow the bank to act
If you continue to receive the error, you must wait for your bank to address the issue. They might be attempting to resolve any potential server problems. Let your bank work on it for at least a day. If the bank doesn’t take any action within 24 hours, you should take any action you can, but at the very least, give them 24 hours to fix the issue.
Solution 7: Verify whether the bank has received your account
You could also receive a banking error if you are new to the bank or credit card or have just started your account. Please be aware that online banking does not work with all new accounts. In this situation, you should contact your credit card provider or banking institution to find out additional information about the cause of this issue.
Solution 8: Visit the credit card or bank website you are using
To ensure that everything is functioning correctly on their end, check the bank & credit card websites.
- Log in to the website of your credit card or bank. If you can’t log in, ask your financial institution or credit card issuer for instructions on accessing alerts, notifications, or messages. These should let you know if something isn’t working.
- Examine the pages, transactions, and history of your account. There might be a connectivity problem if you are unable to see these.
After 48 hours, if everything appears to be in order, follow the Manually updating your bank connection” procedure to re-establish the connection in QuickBooks. However, If there are still any problems, your bank will require some time to resolve them.
Solution 9: Financial institution messages must be examined
Monitor all the notifications and texts you receive from your credit card providers and bank account. Frequently, when a deadline for server maintenance approaches, they notify you in advance, which you may not have seen. Consequently, you could not complete any transactions or even download the transactions at that moment. Consequently, this resulted in an error.
Therefore, to prevent missing information and QuickBooks error 102 from the system, one must also pay attention to these messages, account summaries, and notifications.
Read More: How to Reconcile in QuickBooks Online & Desktop Versions
Solution 10: Your bank account should possess an online banking feature
Internet banking may not always be available when you open a new bank account because banks often need time to initiate these services into your account. Therefore, there is a reasonable risk that QuickBooks error 102 will occur if you are unaware of this and keep using your bank account without it. Consequently, one must determine whether they have a new bank account and whether it offers online banking to prevent such a scenario.
If your bank account is denied access to this online banking function, you should contact the banking service provider and others involved to inquire about the problem and how it might be resolved.
Conclusion
Therefore, we can see that when QuickBooks error 102 occurs, it is mainly accountable for affecting our work and other related activities. However, if we can analyze the situation in advance and determine the causes of the issue, we can take action before it arises.
For this reason, we have included the cause of this problem and a list of thorough fixes that anyone can attempt. If they follow the instructions strictly, they can effectively fix this error. If you still need help or direction, please do not hesitate to contact us. We hope this information is helpful to you.
Frequently Asked Questions
Q1. What does QuickBooks error 102 mean?
QuickBooks banking error 102 means a problem with the bank website, which could be a connectivity or maintenance issue. The server may also have problems transferring data between the bank and the QuickBooks online application.
Q2. How does handling QuickBooks error 102 affect automatic updates?
You cannot manually switch off or on the automatic updates when QuickBooks is experiencing error 102. However, you can observe what is stated in one of the solutions in the article above to find the precise time and date of the previous update.
You can review the information you have in your hand by remembering that QuickBooks will attempt five times more in the subsequent five hours if it cannot receive updates from the specific bank account.
Q3. How to view notifications or account information?
After logging in successfully, you can review any notifications, warnings, or advisories your bank may have received. Reading these can help you identify the issue generating QuickBooks error 102. You can also quickly review your account’s history, transactions, and description.
Q4. How can I update QuickBooks manually?
Manual updates are required for some accounts. The following actions can be taken to do manual updates:
- From the menu on the left, select “Banking.”
- Choose “clear unwanted” if only a few accounts require an update.
- Click “Update Now.”
- Add you’re “Multi-Factor Authentication (MFA)” if prompted, then click “Update.”
Q5. How can I determine the precise moment of a QuickBooks update?
First, select Banking from the left menu, then click the update icon in the upper right corner. The recently updated tab will display the date and the time of the most recent update.
Q6. How do I correct a QuickBooks bank error?
To correct a QuickBooks banking error:
- Select transactions under bookkeeping.
- Pick the heading for the bank account and select bank transactions.
- The edit icon must now be selected.
- Next, choose Edit Sign-In Information.
- Additionally, update your information as necessary.
