Frequently Asked Questions

Yes,change in depreciation method in BUSY is possible. We have 2 methods rule for depreciation calculation. Income Tax Act it is a defualt method for change to Company's Act please follow below mention steps:-
Step 1:- Administration Tab
Step 2:- Configration 
Step 3:- Feature /option
Step 4:- Accounts
Step 5:- Click on check box Company's Act Depreciation 
After enable depreciation go to Display Tab then Depreciation Chart here both methods will show i.e., Income Tax Act and Company's Act
Recommendation:- We recommend you use single deplreciation method in single F.Y.

For refresh charges of depreciation, see the next step in BUSY.
Step 1 Ensure the Account Master group has fixed assets.
Step 2 also checks the rate of depreciation percentage in the feed.
Step 3 Go to Display, then click on the Depreciation Chart Menu.
Step 4 Select the option. Income Tax Act
Step 5 In the Depreciation Account field, select Depreciation Ledger and click OK.
Step 6 Press F4 for the Post-Depreciation Voucher.
Step 7 Select Voucher Serise and Voucher Date
Step 8 Check Narration Click on OK for posting the voucher.

For charges of depreciation, see the next step in BUSY.
Step 1 Ensure the Account Master group has fixed assets.
Step 2 also checks the rate of depreciation percentage in the feed.
Step 3 Go to Display, then click on the Depreciation Chart Menu.
Step 4 Select the option. Income Tax Act
Step 5 In the Depreciation Account field, select Depreciation Ledger and click OK.
Step 6 Press F4 for the Post-Depreciation Voucher.
Step 7 Select Voucher Serise and Voucher Date
Step 8 Check Narration Click on OK for posting the voucher.

If you want to record depreciation, follow these steps:
Step 1: Go to the Display Menu, then click on the Depreciation Chart and select the depreciation type.
Step 2: Choose the account for depreciation, open the report You Can see all accunts depriciation on that report and press F4 to add a voucher.
Step 3: Select the account, then choose the Journal Voucher Series and press OK.
Step 4: Check the list of journal vouchers to see if it's posted, or you can manually enter the depreciation voucher.

For charges of depreciation, see the next step in BUSY.
Step 1 Ensure the Account Master group has fixed assets.
Step 2 also checks the rate of depreciation percentage in the feed.
Step 3 Go to Display, then click on the Depreciation Chart Menu.
Step 4 Select the option. Income Tax Act
Step 5 In the Depreciation Account field, select Depreciation Ledger and click OK.
Step 6 Press F4 for the Post-Depreciation Voucher.
Step 7 Select Voucher Serise and Voucher Date
Step 8 Check Narration Click on OK for posting the voucher.

For charges of depreciation, see the next step in BUSY.
Step 1 Ensure the Account Master group has fixed assets.
Step 2 also checks the rate of depreciation percentage in the feed.
Step 3 Go to Display, then click on the Depreciation Chart Menu.
Step 4 Select the option. Income Tax Act
Step 5 In the Depreciation Account field, select Depreciation Ledger and click OK.
Step 6 Press F4 for the Post-Depreciation Voucher.
Step 7 Select Voucher Serise and Voucher Date
Step 8 Check Narration Click on OK for posting the voucher.

If have opening balance for asset master then check it is reflect in master of asset by modifying it. If not show enter opening balance (opening balance only entered in the begining of the F.Y. of the comapny. If countinous year then carry forward balance from previous year after taking backup). If balance is shown in master opening then it will reflect in depreciation chart too. 
If still issue please contact on our Helpline No., i.e., 8282828282, 011-40964096

Depreciation works differently for each account or asset type, such as furniture and fixtures and here are the steps:
Step 1: Make sure to enable depreciation option from Accounts feature
step 2: Then specify depreciation in account master 
Step 3: Then you can check reporting of depreciation in display menu 
Step 4: Then click on depreciation chart option 
Step 5: Here you can check the calculation or list of depreciation applied as per income tax act and companys act

Please follow below mention step for set up depreciation rates in fixed assests:-
Step 1:- Administration Tab
Step 2:- Masters
Step 3:- Accounts
Step 4:- Add Or Modify if already exist
Enter name of fixed assets and select group "Fixed Assetsthen a window appear mention depreciation rate.
After enter depreciation rate go to Display Tab then Depreciation Chart and you can check Depreciation to be Charged filed 
Note:- For Depreciation charges as per Company's Act enable from Accounts Module from Administration Tab

For incorrect calulation of depreciation check depreciation rate mention proper please follow below mention steps for correction in depreciation rate:-
Step 1:- Administration Tab
Step 2:- Masters
Step 3:- Account
Step 4:- Modify, Select which asset calculation show wrong, on depreciation rate window which is appear after master group option.
After enter correct depreciation rate then go to Display Tab then Depreciation Rate, check calculation on calculator and in BUSY depreciation to be charged filed amount both will match