The error message you're getting is caused by out-of-date or invalid payment details. Otherwise, the card issuer declined payment.
I'll show you a couple of steps on how to resolve this error. The first step is to update your billing info.
Here's how:
Click Settings and then Accountandsettings.
Choose the Billing & Subscription tab.
Select Resubscribe.
Update your account billing info. Here are some important things to check as you’re updating this info:
Make sure the billing address is up-to-date and matches the address on your most recent card statement.
Make sure every field on the payment method screen is filled in, including the postal code.
Make sure there are no special characters or symbols (such as, # or *) in your address. Special characters will cause errors.
Make sure your contact number is formatted correctly, using the +area code.
Click Save.
If the error continues, you'll want to review your company information.
Sign in to QuickBooksOnline.
Select Settings and then Accountandsettings.
Select the Company tab.
In the Companytype section, confirm that industry is listed. If it’s blank, select Industry and add your company's industry.
In the Address section, confirm that the address listed matches the billing address of your payment card. Also, make sure there are no special characters or symbols (such as # or *) in your address. Special characters will cause errors.
In the Contactinfo section, confirm that your Companyphonenumber is formatted correctly using the +area code.