Frequently Asked
Questions
Find Solutions to Common Issues Related to accounting-reports - bank reconciliation
How to reconcile bank transactions with BUSY data?
If you Want To reconcile Your bank statements with the data in BUSY Follow These Steps:-
1.Open BUSY Software.
2.Then click on Company menu and Open the company.
3.Then Go to Administration & Select configuration.
4.In configuration Select Features & Option Menu.
5.Then Go to Accounts & in Bottom Option Shows Bank Reconciliation. Tick on this option & Save.
6.Then Go to Display menu.
7.Select the Bank reconciliation.
8.Then Four Option Appear Show All Entries, Show Uncleared Entries, Show Cleared Entries & Reconcilation Statement.
9.If You Want To Comapre Your bank statement With BUSY bank entries.
10.Click on Show uncleared entries Then select bank & date range & open The Report.
11.If you Want To clear The entries Press F4.
12.Then Y on Clear Full Voucher & Enter Clearing date.
13.If You Want to Check Your Clearing entries.
14.Click on Show Cleared Entries.
What's the process for bank reconciliation in BUSY?
If you Want To Know The process for bank reconciliation in BUSY Follow These Steps:-
1.Open BUSY Software.
2.Then click on Company menu and Open the company.
3.Then Go to Administration & Select configuration.
4.In configuration Select Features & Option Menu.
5.Then Go to Accounts & in Bottom Option Shows Bank Reconciliation. Tick on this option & Save.
6.Then Go to Display menu.
7.Select the Bank reconciliation.
8.Then Four Option Appear Show All Entries, Show Uncleared Entries, Show Cleared Entries & Reconcilation Statement.
9.If You Want To Comapre Your bank statement With BUSY bank entries.
10.Click on Show uncleared entries Then select bank & date range & open The Report.
11.If you Want To clear The entries Press F4.
12.Then Y on Clear Full Voucher & Enter Clearing date.
13.If You Want to Check Your Clearing entries.
14.Click on Show Cleared Entries.
I am unable to match my bank closing balance as per books and actual bank balance. What should I check?
To match your bank closing balance as per books and actual bank balance, you should check the following:
1. Verify that all transactions in the bank statement have been accurately entered into the accounting software.
2. Double-check the dates and amounts of each transaction to ensure accuracy.
3. Reconcile any outstanding checks or deposits that may not have cleared the bank yet.
4. Check for any missing or duplicated transactions in the accounting software.
5. Ensure that all bank fees and charges have been properly recorded.
6. Confirm that the opening balance in the software matches the closing balance from the previous month's bank statement.
7. If necessary, reach out to your bank to clarify any discrepancies or errors in the bank statement.
8. Consider seeking assistance from a professional accountant or financial advisor for further guidance.
How do I handle bank cancellation entries in BUSY for bank reconciliation
To handle bank cancellation entries in BUSY for bank reconciliation, you can follow these steps:
Step 1 :Launch the BUSY and log in with your credentials.
Step 2 :In the main menu, navigate to the "Transaction section.
Step 3 :Review your bank statement to identify the entry that needs to be canceled. Take note of the transaction details, including the date, amount, and transaction reference.
Step 4 :Select the identified entry in the BUSY bank data
Step 5 :Look for an option or button that allows you to cancel or delete the transaction.
Step 6 :Confirm the cancellation of the entry when prompted by the software.
Step 7 :After canceling the entry, return to the bank reconciliation screen.
Refresh or update the bank reconciliation to reflect the canceled transaction. This step is essential to ensure that the reconciliation accurately reflects the changes you made.
I am unable to reconcile my accounts in BUSY. It shows my accounts are out of balance. What should I do to fix this?
To reconcile your accounts in BUSY, if it shows your accounts are out of balance, then you need to reconcile your bank Reconcilation statement for this, you need to follow below steps:
Step 1: Go to the Display menu.
Step 2: Select Bank Reconciliation.
Step 3: In the Reconciliation Statement section, choose your bank account name.
Step 4: Select the date range for the period you want to reconcile.
Step 5: Press OK or use the F2 key to load the report.
On the report window, you will find all the important details of the account, such as:
1. Details of the account
2. The bank balance as per the ledger
3. Checks deposited but not cleared
4. Checks issued but not cleared
5. The actual bank balance
Following these steps will help you fix your account balance and ensure your accounts are properly reconciled.
The check numbers are not showing up properly in the reports What should I do
If the check numbers are not displaying correctly in the reports, you can try the following steps:
1. Double-check the data entry: Ensure that the check numbers are entered accurately when recording transactions.
2. Update your software: Make sure you are using the latest version of the software you are using for generating reports. Sometimes, software updates can fix display issues.
3. Check report settings: Review the report settings to ensure that the check numbers are included in the report columns or fields. Adjust the settings if necessary.
4. Contact support: If the issue persists, reach out to the technical support team of the software or system you are using. They can provide specific troubleshooting steps or address any software-related issues.
Remember to provide specific details about the software or system you are using when seeking support.
I need to clear Bank Account entries in BUSY. What is the process to link amounts to source transactions?
To clear your bank account entries you can use Bank Reconciliation feature.
To reconcile your bank accounts in BUSY, you can follow these steps:
Step 1: First turn on the Bank Reconciliation feature by using the below steps:
(i) Go to Administration
(ii)Configurations
(iii)Feature/Options
(iv)Accounts.
(v)Here, you can check the box next to Bank Reconciliation
and save.
Step 2: To Reconcile your bank entries follow these steps:
(i) Go to Display tab.
(ii) Select "Bank Reconciliationoption and click on
"Show Uncleared Entries".
(iii) Select your bank account and date range.
(iv) To clear an entry from the report find the entry that you want to
clear. Press F4 on your keyboard to open the clearing window
enter the clearing date as per the statement and click on the OK
button.
What is the recommended approach in BUSY to clear up Bank Account entries by finding source transactions?
To clear your bank account entries you can use Bank Reconciliation feature.
To reconcile your bank accounts in BUSY, you can follow these steps:
Step 1: First turn on the Bank Reconciliation feature by using the below steps:
(i) Go to Administration
(ii)Configurations
(iii)Feature/Options
(iv)Accounts.
(v)Here, you can check the box next to Bank Reconciliation
and save.
Step 2: To Reconcile your bank entries follow these steps:
(i) Go to Display tab.
(ii) Select "Bank Reconciliationoption and click on
"Show Uncleared Entries".
(iii) Select your bank account and date range.
(iv) To clear an entry from the report find the entry that you want to
clear. Press F4 on your keyboard to open the clearing window
enter the clearing date as per the statement and click on the OK
button.
The opening balance is not matching between BUSY and my bank statement how do I correct it
To mark entries in BUSY when checking the bank statement, you can follow these steps:
Step 1. Open the BUSY software and go to the bank reconciliation module.
Step 2. Select the bank account for which you want to reconcile the statement.
Step 3. Compare the entries in the bank statement with the transactions in BUSY.
Step 4. Mark the entries in BUSY as "clearedby F4 Key to indicate that they match the bank statement.
Step 5. You can usually do this by selecting the entry and pressing F4 Key "Mark as Cleared".
Step 6. Continue this process for all the entries in the bank statement until you have marked them all.
Step 8. Once all the entries are marked, you can generate a reconciliation report to ensure that the bank statement and BUSY records match.
What is the process to mark entries in BUSY when checking the bank statement
To mark entries in BUSY when checking the bank statement, you can follow these steps:
Step 1. Open the BUSY software and go to the bank reconciliation module.
Step 2. Select the bank account for which you want to reconcile the statement.
Step 3. Compare the entries in the bank statement with the transactions in BUSY.
Step 4. Mark the entries in BUSY as "clearedby F4 Key to indicate that they match the bank statement.
Step 5. You can usually do this by selecting the entry and pressing F4 Key "Mark as Cleared".
Step 6. Continue this process for all the entries in the bank statement until you have marked them all.
Step 8. Once all the entries are marked, you can generate a reconciliation report to ensure that the bank statement and BUSY records match.
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