How to Fix QuickBooks Banking Error 102?

How to Fix QuickBooks Banking Error 102?

QuickBooks, the world’s leading accounting software is instrumental in putting small and mid-sized business owners, entrepreneurs and accountants close to their business goals. Though it’s an innovative software, it’s not entirely free from errors. One error that as a user you may receive is “QuickBooks Banking Error 102”.

This error may occur when your bank’s website has some technical glitches, website maintenance is going on, or a server has some issue in transferring data between website of the bank and QBO. If you are facing this error, these following tips may help you. If you want quick resolution of any QuickBooks Issue then you can contact our QuickBooks error support team that remains active 24/7.

See Also: Resolve QuickBooks Point of Sale Error 100060?

Steps to Resolve QuickBooks Error code 102?

Here are some suggestions to resolve the banking error 102.

Tip 1: Check if Your QuickBooks Online Requires Account Updates

If there is no maintains sign on your bank’s or credit card’s site or any other issue you can find out, you should manually update your account details in QuickBooks Online. There will be an update button at the top right-hand corner. Click the button and it will provide you with more information with updates. You should try to run at least three manual updates at the hours that aren’t supposed to be busy for the bank website.

Manual updates:

Not all accounts are automatic. Some may demand manual updates. In such a case, you will be informed in connection interview. While, in case of an auto update, if you don’t see the current days details after an auto update, you will have to update your information manually.

  • Go to the “Menu” at the left corner of your screen and select “Banking.
  • Select “clear unwanted accounts” if you wish to update only selected accounts.
  • Choose “Update now.
  • Provide your “MFA (Multi-factor Authentication)” upon being prompted and select “Continue” to update the details.

One manual update will have you covered for 90 days. A new listing mentioned in those 90 days will be downloaded. Doing this will ensure that even if you require to leave the days between updates, despite you will get the most updated information even if your account is connected to your bank account.

Tip 2: Check if your Account Details are Accurate

Try to login to your bank’s account using the URL provided by your bank with online banking. In case you fail to connect to your bank, follow the given six steps. Check out the below mention details adding your bank accounts to download and fix transactions in QB Online – The error might be caused because you are not able to connect to your bank.

Steps to connect to your bank account in QBO

Here is how you can connect to your bank Account in QuickBooks Online:

  • Go to the “Menu” at the left corner and select “Banking.
  • In case you are linking to a bank for the first time, go to “Search” and see if the name of your bank is there.
  • If you are already linked to a bank, click “Add Account” and find the name of your bank.
  • Choose your bank from the list.
  • For the website of your bank, put in your “User ID/Login ID” and Password
  • Click “Continue”.
  • If needed by your bank, furnish the added security verification steps, and click “Connect securely”.
  • Click on the symbol of the bank to the left of your account to connect it and from drop-down menu, select your bank type or credit card account. In case you do not have an existing account, you will find an option “Add + new” to make a new account.
  • After you join your account for the first time, QuickBooks software will download online transactions for last 90 days and also your banking and cc transactions overnight. Transactions can also be downloaded for less number of days.
  • Select “Connect”. It may take a couple of minutes or longer.
  • Once the download is complete, you will automatically go back to the banking page. Next, the “Review” tab will consist of transactions that were downloaded from your bank or financial institution. You can review, classify and accept the transaction in QuickBooks.

In case your bank is not listed, or you fail to connect or the data you require in older than 90 days, you will have contact your bank or download transaction from the site of your bank and then upload them to your QuickBooks.

Also see: Ways to troubleshoot QuickBooks error 6177

Tip 3: Read all Account Information or Notifications

If you can login successfully, read messages, notifications or warning that you may have received from your bank. This may tell you what is not working properly. Furthermore, you should able to check your account summary, history, and transactions with ease.

Tip 4: Let the bank take action

In case you are still receiving the error, you should wait for your bank to work on it. They may be trying to fix any probable issue with your server. Give your bank at least 24 hours to work on it.

Tip 5: Check if Your Account is New to the Bank

You may also get the banking error if you have recently opened your account, or that is new to the bank or credit card. Please note that some new accounts do not function with online banking. In this case, you should contact your bank/credit card provider for more details.

If the error still exists, you can call our round the clock QuickBooks online support team at +1(800)880-6389 and speak to our experts. We will fix the QuickBooks banking error 102 as well as any other QB related issue for you in the least possible time.

 

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Reconciling Bank and Credit Card Accounts in QuickBooks

Reconciling Bank and Credit Card Accounts in QuickBooks

Learn the Procedure to Reconcile your bank accounts and credit card accounts in QuickBooks

Reconciling bank and credit card accounts assists the users in catching any irregular, incorrect or unidentified transactions that might end up in wrong account balance. Reconciliation is the process in which the user can compare the financial transactions that are entered in the QuickBooks software with the bank/credit card company’s records. The QuickBooks experts recommend to reconcile the bank & credit card accounts in QuickBooks software on a regular basis, as this will ensure the accuracy of accounting records. Many users are unaware of the benefits of reconciliation. Reconciling the bank and credit card accounts assists the users in the following ways:

  • QuickBooks accounting software accounts for all the financial transactions, which includes payments, reports, deposits, statements, and bank fees.
  • Also, with the help of reconciliation, all the financial transactions that are present in the QuickBooks bank register, along with their ending balances, tally with the actual bank or credit card account.

Reconciling is a step by step process, and in this article we will be explaining the entire process in detail to Reconcile Bank and Credit Card Accounts in QuickBooks. If you want to understand the step by step process of bank and credit card account reconciliation in QuickBooks software, then stick to this blog till the end.

You can also get in touch with our QuickBooks desktop support team for expert assistance, by simply dialing our toll-free number .i.e. 1-800-880-6389.

You may also read: Why QuickBooks desktop Pro is best for your business?

Points to remember:

Before you start reconciling the account, keep the following points in mind:

  • Make sure to have the copy of the bank or credit card statement.
  • Take the backup of the QuickBooks company file.
  • The next point to remember is to type in all the uncleared financial transactions for the statement period.
  • Also, the user is required to set up the bank/credit card account in QuickBooks accounting software that too with the accurate beginning balance, in order to avoid any nuisance.

Steps to Reconcile Bank and Credit Card Accounts

Once the user begins with the process, he/she will witness two main screens on the system.

1. Start Reconciliation Window

In this particular window, the user is required to select the bank account to reconcile & also analyze all the details that are associated to it. It should also be noted that all the important information present in the window is correct, before jumping to the next step.

To visit the Begin Reconciliation window, the user is required to visit the Banking menu, followed by hitting the Reconciletab.

Steps to be followed by Users having QuickBooks Merchant or Payments account:

If QuickBooks Desktop detects that you are not signed in to the Payments account, then in that case a Sign In prompt will show up on the screen. This is to make sure that the account is effectively signed in, and also connected to a legitimate company ID.

Reconcile your Bank
  1. To begin with, in the Account section, the user should select the bank/credit card account that is supposed to be reconciled.
  2. It should be noted that the Statement Date will be filled on its own. In general, it supposes to be 30 or 31 days, after the statement date that the user entered for the earlier reconciliation. The user can alter the date as per the requirement.
  3. Also, the Beginning Balance will get filled in automatically, which will be the total of all formerly cleared transactions. The user is required to make sure that the beginning balance is equal to the opening balance as per the statement.
  4. The next step is to type-in the corresponding balance from the statement, in the Ending Balance section.
  5. In case the financial reports display a service charge/interest that you haven’t yet type-in into the QuickBooks records, then mention those amounts into the Service Charge and Interest Earned field respectively. Also, DO NOT type-in the charges that have been previously typed-in as QuickBooks financial transactions.
  6. Moving ahead, the user should click the Locate Discrepanciesicon, in order to find out the available financial reports that will assist the user to locate discrepancies & other reconciliation problems. There is an option to Undo & Restart Reconciliation tab at the Locate Discrepancies window.
  7. The last and final step is to click on the Undo Last Reconciliation button, in case the fixation requires by you to revert to the former reconciliation.

What is the need to undo last financial reconciliation?

The need to undo the last financial reconciliation arises when the user can’t figure out the discrepancies during QB reconciliation or if the user wishes to change the date of the opening balance. Also, it should be noted that after the user undo the earlier reconciliation, the beginning financial balance will revert to the preceding beginning balance & all the previously cleared financial transactions will be uncleared.

  1. If all details are right, click on the “Continue” tab, in order to carry on to the Reconcile window.

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2. Reconcile Screen

Now comes the reconcile screen, where you will be able to refine the preference that is to be matched against the bank statement. This is where the user selects the financial transactions to clear. If a zero difference is displayed on the screen, once the user selects all the financial transactions that show on the statement, then congratulations! This enables you to simply click on the Reconcile tab and also this completes the reconciliation.

Reconcile screen
  1. Hide financial transactions after the statement’s end date: The is required to put the confirmation mark in the box, if the user desires to display the financial transactions covered only by the statement period on which the task is performed. This will help the user to avoid perplexity, especially if the user is “behind” in the reconciliation process.
  2. Type-in the Transactions in QuickBooks: These are listed & separated into two fields – the Checks and Payments (Money out) and Deposits & other Credits (Money in).
    • If the user is reconciling the credit card account, then in that case the fields will be Charges and Cash Advances (purchases) and Payments and Credits (payments to the credit card company).
    • Now, the user will be required to authenticate the financial transactions against the actual bank or credit card statement.
    • Followed by selecting only the one that appears on the statement & also ensure that the amounts are identical.
    • Lastly, it should be noted that as the transactions are selected, the Cleared Balance changes.

What if there are manifold Financial Transactions?

In such case by default, the financial transactions are scheduled as per the date. In case there are a lot of financial transactions for statement period, the it might be easier for the user to resort transactions, especially if he/she is trying to spot a transaction with a specific amount, reference, etc.

  1. The first step in this process is to click once, and it will automatically sort the financial transactions.
  2. And then clicking on it for the second time, will reverse the sort.
  3. For example, if the user wishes to organize the financial transactions according to the amount, then he/she is supposed to click on the Amount column header.
  4. The financial transactions are rearranged in ascending or descending sequence.
  5. Items marked as clear: This field shows up the total number, total amount of Deposits, and also Check selected by the user. Certain banks endow the identical summary of the financial transactions on their statement. This section saves a lot of time for the user, if the user wishes to verify for the discrepancies.
  6. Mark All/Unmark All: When the user will click on any of these buttons, he/she will select/deselect the financial transactions. If the user reconciles on a customary basis, and if all transactions for the statement period were entered correctly, then selecting all the financial transactions at once might contribute to save time. The user is required to ensure that the reconcile window shows a zero difference between the ending balance and cleared balance.
  7. Go To: This section opens or edits the financial transaction from the reconciliation screen. It is helpful in case when the user wishes to do small edits on the financial transaction, before the user marks it reconciled or cleared.
  8. Matched: If the account that the user is attempting to reconcile is setup for online banking, then in that case he/she is supposed to click on this button and it will automatically choose the financial transactions that were downloaded & auto-matched.
  9. Columns to Display: Selecting this specific button will allow the users to opt for the sections that the user would like to display.

Now question comes that why it’s necessary to select columns?

QuickBooks software displays the Date, Amount, Payee, and CHK # columns by default. But the exception is only for the Amount column, the user can add or remove the other areas to avoid perplexity. For example, in case the statement demonstrates the reference # for most of the financial transactions, then the user can select to present only the CHK # & AMOUNT columns. With the help of this method, the user can simply spot and mark the financial transactions.

  1. Modify: The user can press this tab, if the user wishes to make modification at the last moment on the details/information’s that the user has typed in to the Begin Reconciliation window.
  2. This field endows the user with a peep of the reconciliation figures.
    • Service Charge, Ending Balance, and Interest Earned: All of them are based on the amount entered for these areas in the Begin Reconciliation window.
    • Cleared Balance: The figure reduce when the users select/clear the checks and payments & increases when they select/clear the deposit and other credit amount.
    • Difference: This allows the user to find out the difference among the beginning balance that was entered and the cleared balance (the financial transactions that was selected up till now). Also, it should be noted that as per the ideal conditions, the difference should be null.
  3. Leave: The user is required to opt for Leave button, in order to operate other account or to edit financial transactions after moving out of the reconcile window.

See Also: How to Update QuickBooks error 1328?

What will happen after clicking on the “Leave” button?

QuickBooks accounting software tracks the financial transactions already manifested as clear – that is, they remain checked in the Reconcile window. The user is supposed to visit the account register, an asterisk (*) will appear in the cleared column of the financial transactions that the user has marked until the reconciliation process completes. The asterisk symbol depicts that the financial transaction is awaiting or pending due to QuickBooks bank account reconciliation with the financial statement hasn’t finished completely.

When the user is prepared to resume the reconciliation process, he/she will be required to go back to the Begin Reconciliation window, and also re-enter the beginning balance & proceed with reconciliation as usual

  1. Reconcile Now: The user can opt for the Reconcile Now button in a situation when the process of selecting all the financial transactions completes.

What next?

If the difference is zero: QuickBooks software will save the reconciliation & shows the “Select Reconciliation Report” window. The user is then required to select the category or type of report and later perform click on either the “Display” or the “Print” tab. The user should select the “Close” tab, if you want any financial reports at this point of time.

QuickBooks software allows the  user to select among the “Reconciliation Summary” or “Reconciliation Detail” report, or the user can select both of them. Though it doesn’t show after the user finishes the reconciliation process, the ‘Reconciliation Discrepancy Report’ is also available in QuickBooks to assist him/her to figure out any problem or issue that occur while reconciling the account.

If the difference is anything but zero: QuickBooks software shows the Reconcile Adjustmentwindow. The user can select from the following:

If you want to find the journal entry, you can:

  • Return to Reconcile: To go back to the earlier window.
  • Leave Reconcile: To move out of the reconciliation window, in order to review or edit existing financial transactions that are causing the issues.
  • Enter Adjustment: If the user would wish to finish the reconciliation procedure even if he/she didn’t get a zero difference on the preceding window. QuickBooks software will automatically type-in the Journal Entry under a special expense account known as Reconciliation Discrepancies. It can be verified & edited as required by going to the Chart of Accounts.-
    1. Use the Find feature.
      • In the Edit menu, click on the Find tab.
      • In the Find window, navigate to the Advanced tab and choose the Memo filter icon.
      • Under the Memo section, enter the Balance Adjustment and later, click on the Find tab.
      • Any balance adjustment will be displayed.
    2. See the Previous Reconciliation report.
      • In the Reports tab, click on the Banking tab => Previous Reconciliationtab.
    3. Under the Cleared Transactionfield, the General Journal Entrywill appear at the top in a situation where the balance adjustment was made

For Credit Card Accounts: If the ending balance is anything except zero, QuickBooks software will pop-up the Make Payment window & redirect to write a check or enter a bill to pay for the outstanding balance. If you do not desire to record payment, you can click on the Cancel tab.

Read also: Use automated password reset tool for QuickBooks

3. Reconciliation Discrepancies

The user might come across technical hassles while reconciliation of the bank/credit card account. Discrepancies are mismatches caused by financial transactions in the account that don’t agree with your printed statement.

Below are two of the available resources dealing with mismatches and other reconciliation issues?

  • Zero or incorrect Beginning Balance in the Begin Reconciliation Window
  • Fix reconciliation discrepancies

With this we end the article here, and also hope that with this technical article you will be enlightened with deep knowledge about the bank & credit card reconciliation.

However, if the user is still confused or have any queries, then he/she can feel free to take the advanced assistance of the QuickBooks certified technicians and ProAdvisors. You can dial our QuickBooks enterprise customer support helpline .i.e. +1-800-880-6389. 

 

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How to Troubleshoot QuickBooks Error 108?

How to Troubleshoot QuickBooks Error 108?

QuickBooks accounting software offers numerous tools and features to the users for managing accounts and other business operations. This accounting software involves numerous codes and algorithms, and this makes it prone to errors can glitches. These can be encountered while managing their bank account in QuickBooks Online.

The errors can occur due to technical issues or due to some faults at the banking end. It is not uncommon that the QuickBooks users encounter technical glitches, and look for technical assistance to get rid of such errors. One such banking error is 108. If you are also facing such error, then this article might be helpful to get rid of this error.

We have come up with this article, with an aim to troubleshoot this error and also find out the real causes behind the same. Thus, if you want to explore the troubleshooting steps, then stay tuned to the article until the end. However, you can contact to our QuickBooks online support team anytime to save your time and efforts.

What Leads to QuickBooks Error 108?

  • In case the bank generates any kind of message requiring the user’s action.
  • Or in case the problem in logging in into the bank account arises due to various reasons just like, invalid username or password.
  • Another reason can be if the user is unable to smoothly connect with the bank server.
  • Any kind of issues with the bank server might lead to such error.
  • Lastly, in case the user has installed more than one version of QuickBooks.

How to Identify the QB Error 108?

To identify the error, you can make a note of the symptoms that might appear such as:

  • The first symptom can be error message displays on the screen.
  • The next symptom can be that the user is unable to work on the QuickBooks.
  • Or the QuickBooks program window crashes.
  • Also, in case the PC becomes sluggish.

Methods to Resolve QuickBooks Error Code 108

Well, after exploring the symptoms and causes, it is now time to learn the quick fixes to the Error 108. Let us have a look at the methods one by one:

Solution 1- Disable the Pop-up blockers

  • The first step is to ‘login into the website‘ of the bank or financial institution.
  • Now, the user is required to go through all the notifications or messages. In case the user is unable to read the messages, then the pop-up blocker might be the reason. Thus, the user is required to disable it and then also check the messages.
  • The next step is to act on the messages or dismiss them.
  • Once done with the above steps, the user is required to ‘visit the QuickBooks Online‘.
  • Moving ahead, the user should visit the menu on the left side and then select the ‘Banking‘ option.
  • Now, the user is required to tap on ‘Update‘ in the Banking page.
  • Lastly, the user is required to check if Error 108 QuickBooks is appearing.

Solution 2- Checking the Firewall settings

  • To begin with, the user is required to login to the computer as an administrator.
  • The user required to ensure that he/she is using the latest version of QuickBooks and also make sure it is up to date.
  • The next step is to verify the Firewall settings, to ensure that it doesn’t block access to QuickBooks company file.
  • Now moving forward, the user is required to check the internet security settings.

Solution 3 – Run system file checker

  • The first step is to click on the ‘Start menu’, followed by typing ‘Command’ in the search bar.
  • Once done with that, the user is required to press ‘Ctrl’ and ‘Shift’ keys simultaneously, and then tap on ‘Enter‘.
  • Now, the user will see a permission dialog box, for which they have to click on ‘Yes‘.
  • Moving ahead, the user will see a black box that will appear with a blinking cursor.
  • After that, the user needs to type ‘SFC/scannow‘ and then tap on the ‘Enter‘ tab.
  • Once done with the above steps, the ‘System File Checker‘ will commence the scanning process.
  • The last step is to follow the on-screen instructions in order to proceed further.

Solution 4 – Install Windows updates

  • The first step is to click on the ‘Start‘ button.
  • Now, the user is required to type ‘Update‘ in the search bar.
  • Moving ahead, the user will encounter a ‘Windows Update dialog box‘ on the screen.
  • The last step for this process is to click on the ‘Install Updates‘ option, if any of the updates are available.

Solution 5 – Log in to your bank account

  • To start with the solution, the user is required to log in‘ the bank’s website.
  • After that, look for the ‘KB details‘ in the download transactions.
  • Lastly, by holding the ‘Ctrl key‘, the user is required to enable and run the pop-up blocker.

The above-discussed are the five of the solutions that can be used to do away with the QuickBooks Error code 108. The QuickBooks user can prefer any of the methods and resolve the error. However, in case any problem arises, or if the user is unable to tackle the error even after following the above-enumerated methods, then he/she can consult with our QuickBooks error support technical experts.

You can simply dial our toll-free number­­­­­­­­­­­­­­ .i.e. +1-800-880-6389, and our QuickBooks Support team will be there to assist you in a single call.

 

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