The new federal compliance rule states that users must update their bank, business, and owner info to continue using a direct deposit as a payment method. Thus, error 40001 stops you from updating your bank details in the QuickBooks app and should be fixed immediately.

So, we’ll glance at all the reasons behind QuickBook s error code 40001 and then take you through all the possible solutions.

Reasons Behind QuickBooks Error 40001

Some of the reasons which lead to the QuickBooks Error 40001 are:

• Lacking rights to perform specific actions or you are not logged in as “Admin.”

• The company files have a data integrity problem.

• Realm ID does not match your QuickBooks Payroll Account info.

• Internet Explorer is not set as the default Internet Browser.

• Your QuickBooks Version doesn’t have the updates related to the latest payroll tax table.

Methods to Resolve QuickBooks Error Code 40001

Below we have discussed the solution for QuickBooks error message 40001 like a pro

Method 1: Run QuickBooks as an Administrator

• Head to the “Start” menu & search for the “QuickBooks” app.

• Don’t open the “QuickBooks” directly; instead, right-click on it and select the “Run as Administrator” option.

• Also, you can log in to your system as an “Administrator” and then open the “QuickBooks” app directly.

Method 2: Fix Issues with Company files that are stopping you from Updating Account Information

• Before repairing the corruption in the company file, first, you’ll have to verify it.

• Open the “QuickBooks” and go to the “Files” tab.

• Under multiple options, go to the “Utilities” option.

• From the drop-down list, select “Verify Data,” and verify data tool will start scanning the company data for any corruption.

• If any corruption is found, you’ll get an option to “Rebuild.”

• Select the “Rebuild” option and sit back till the tool repairs the company files.

Method 3: Run QuickBooks Install Diagnostic Tool to fix the QB Installation Process

• You can download and install “QuickBooks Install Diagnostic Tool” from the Tool Hub.

• Open the QuickBooks Tool Hub & go to the Installation Issues tab present on the left side of your screen.

• Select QuickBooks Install Diagnostic Tool, and it will start fixing the issues with the Installation Process of your QuickBooks app.

• Re-run the QuickBooks desktop and check whether the problem is fixed or not.

Method 4: Install Payroll Updates After Updating Your QuickBooks Desktop App

• Re-start the QuickBooks Desktop app in administrator mode.

• Go to the “Help” section & select the “Update QuickBooks Desktop” option, and then the “QuickBooks Update Window” will pop out.

• Click on the “Update Now” tab and get the latest updates.

• After the updates have been successfully downloaded and installed, reboot the app.

• Again, head to the QuickBooks Update Service window and look for the “Employees” tab.

• Opt for the “Download Payroll Updates,” and later, mark the “Download Entire Update” option.

• Download all the latest updates and after installing, restart the QuickBooks Desktop.

Other Tips to Fix QuickBooks Error 40001

• Fix Issues with the Realm Id of your QuickBooks Desktop program by contacting customer support.

• Set Internet Explorer as your Default Browser, making it easy for QuickBooks to connect with the Intuit server.

Conclusion

You can quickly fix or troubleshoot QuickBooks Error 40001 by following the different methods listed here without advanced technical knowledge. You need to troubleshoot Error 40001 to successfully update your bank details to comply with the new rules. All the methods are written in consultation with our experts, and users can reach them for queries related to QuickBooks Accounting Software.

If you are not able to fix this issue, then you should contact our QuickBooks error support helpline i.e., 1-800-615-2347.