How to Fix QuickBooks Error 1016?

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 There are some problems that QuickBooks users may encounter while using the banking service of QuickBooks. There might be some error that appears while downloading the bank transaction or while working with one.

In this article, we will discuss QuickBooks Error 1016.

What is QuickBooks Error 1016?

QuickBooks Error 1016 is an online banking error. It is a common QuickBooks Desktop banking setup error. It is a bank feed error that might be caused due to an inactive bank account.

Causes of QuickBooks Error 1016 

Here are a few possible causes for QuickBooks Error 1016 to occur:

  • Any problem at the end of the users’ bank. They might have changed in their service offerings, web connect or direct connect. Changes in the bank name made not be rectified in QuickBooks.
  • The user might be using an inactive bank account enabled for QuickBooks banking transactions.
  • Any problem with the downloaded or import file.
  • Problem with the internet connection may also be a reason for the error to occur.
  • There might be any problem with one or more QuickBooks account in the company file.
  • A discontinued version of QuickBooks Desktop might also create a problem in the banking transaction.

Fixes of QuickBooks Error 1016

Steps to resolve the bank feed error are given below. Follow these steps in order.

Step 1: Enabling TLS 1.2 security protocol

TLS 1.2 is the latest security protocol in internet explorer. here are the steps to enable TLS 1.2. Before performing the steps make sure that it is the latest internet explorer version i.e IE 11.

  • Open Internet Explorer.
  • Click on the Gear Icon.
  • Go to Internet Options.
  • Then click on Advanced Tab.
  • Scroll down to the Security section.
  • Mark TLS 1.2.
  • Click on Apply and then Ok.
  • Now, close all programs and restart the computer.

You May Also Read: How to fix the QuickBooks Error 1772?

Step 2: Creating a new test company

This process helps in knowing if the issue is with the bank or their server.

  • Open QuickBooks and go to the File menu.
  • Select the New Company.
  • Now, click on Express Start.
  • In the new company test, add the bank account which was creating the issue. Set up the account for bank feeds.
  • To test the account download the bank feed transaction.

If the same error message appears again it means the issue is with the bank. Contact the bank in order to solve the issue.

Step 3: Run account set up with ctrl key

It helps to recover the incomplete connection with the bank by bypassing the previously failed connection. Backup the data before performing the steps.

  • In the QuickBooks, files check for inactive accounts that have lightning
  • Deactivate the account for online services.
  • Run the bank feed set up and press and hold Ctrl each time giving any command. The Ctrl should be held throughout the process until entering information:
  1. Go to Banking, then click on Bank Feed.
  2. Now, click on Bank Feed center.
  3. Press Ctrl while clicking on send/receive and hold until the PIN screen appears.
  4. Enter the PIN and click on OK.

Hold Ctrl until the message the transaction has been downloaded appears.

If the error message appears it means that the problem cannot be bypassed using this method.

These were a few fixes to the problem. Hope this would help in resolving QuickBooks Error 1016 and give the users a smooth functioning of QuickBooks.

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