QuickBooks Desktop Error “An error occurred while processing your bank feeds data”

Are you getting an error message “An error occurred while processing your bank feeds data” while importing or downloading a .QBO file from a supported bank or financial institution? Wondering why are you getting this error message?

This error message primarily occurs when you enter invalid information. Also, “An error occurred while processing your bank feeds data” error message might also happen when the formatting in the .qbo file provided by the supported bank or financial institution cant be read by QuickBooks from you web connect .qbo file.

In addition to this, the above-mentioned error might occur when the supported bank or financial institution doesn’t support import in your QuickBooks desktop system. If you try to import a .qbo file to the outdated version of QuickBooks Desktop then too you might receive this error. And in case the files you import is in incorrect file type like .QFX or .IIF then also this error message may occur.

Causes of QuickBooks Desktop Error an Error Occurred while processing your bank feeds data

  • Windows file gets damaged.
  • The installation or uninstallation process failed.
  • Forced shutdown .
  • Error occurs due to the attack of virus or malware.
  • In the windows registry  file entered the wrong entries.

So how do you troubleshoot this error message? What is the best way to get rid of the problem? in this article, we will guide you through the step-by-step instructions to fix the error. To make things easier, we have below given multiple solutions, which you can follow easily.

Note: Before beginning troubleshooting, make sure to take a backup of your QuickBooks Company file.

Follow the given below instructions:

1. Solution One: Download directly from the banks website

  • Go to your supported bank’ s website outside of your QuickBooks Desktop system.
  • After that download and save the .qbo file on your desktop.
  • Then in your QuickBooks Desktop, on the top menu, click on:
    • File and select Utilities. Then go to Import and choose Webconnect files.
    • Now browse to the file location
    • Select the file, click on Open.
    • Step-by-step follow the import wizard in order to complete the import.

In case, the import fails, try out the Solution 2 given below:

2. Solution Two: Duplicate the issue in a new test file.

  • Choose File and go to New Company.
  • Then click on Express Start
  • After that in your QuickBooks Desktop, add your bank to the Chart of Accounts, and then do the following:
    • Set up an account for online Banking:  go to Banking, select Bank Feeds and then click on Set Up Bank Feed for an Account
    • Now download or import .qbo file.
  • In case if the import is successful in a new test file then in that case issue lies in the original data file.
  • Now check for any kind of data damage by running Verify Data utility.
  • And if you’ve ever imported transactions from the problem bank or financial institution account to this company data file (.QBW):
    • Deactivate the online connection by resetting the problem account in QuickBooks Desktop.
    • Then reestablish the connection to the supported bank or financial institution by importing the webconnect file.
  • If the import fails in a new file then the problem is with the .qbo file formatting give by the supported bank or financial institution.
    • Contact the supported bank or financial institution to report the problem.
    • GO to the Solution 3 to review the .qbo file for errors and troubleshooting.

3. Solution Three: Review the web connect (.qbo) download for obvious errors.

  • First of all download and then save the .qbo file on your computer.
  • Then edit the .qbo file:
  • Right-click on the file then click on Open withand select Notepad/Excel.
  • Review the download to find common errors.
    • Remove all the invalid characters. Then check the file for characters like “&” etc.
  • Add or Edit missing data. 
    • Ensure All Tags have data.
    • If the payee NAME field exceeds the character limit (<=32), then the left payee information will come in the MEMO field.
    • And if the .qbo download file is missing the bank identification information, note that the transactions won’t import.
      1. Find the unique bank identification information for your bank by clicking on your version of QuickBooks Desktop.
      2. Press Ctrl + F on to find out for your banks official name. In the left hand column for entry, note down the 5 digit number
  • Save the .QBO file.
Need Professional Help?

However, if the above given solutions fail to fix the problem then get in touch with the supported bank or financial institution to report the issue. You may need to provide your bank the exact error message. Or call QuickBooks Destop support number at 📞+ to fix the problem. We offer unprecedented technical assistance.

Read also – How to fix QuickBooks Error -6000, -832

FAQ

  1. How can I resolve the bank feed issue in QuickBooks?

    Go to the Banking menu and then choose the affected Bank Account. Hit the click on the Edit menu and then choose the “Edit Account Info” option. From the Account box section, scroll to the bottom side and then check that your account must be disconnected. Hit the next click on the Save button to close and Save the program.

  2. Why can’t I see the bank transactions in QuickBooks?

    These issues appear due to several reasons. Here you find all with troubleshooting guides. Make sure about the correct login credentials. If your bank makes new changes related to the security wall, then first you need to accept new terms & conditions and move forward otherwise error repeatedly appears on your screen.

  3. How can I set up the bank feeds to fix the Bank feed data error?

    To get rid of bank feed data error, open the banking menu. Then, you have to choose the “Bank Feeds” option. The next thing you have to do to choose the “Set up Bank Feeds” for a specific account. Then, enter all mandatory data such as the Bank’s name field and choose the bank.


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