Frequently Asked
Questions
Find Solutions to Common Issues Related to accounting-reports - interest calculation
The interest amount calculated is not reflecting in the general ledger. Why is this happening and how can I resolve it?
I would need more context to provide a concise to this question. Can you please provide me with more information about the specific situation and the software being used?
How do I properly record deposit interest rates in BUSY?
In BUSY, you can calculate interest on the outstanding amount of parties and bank interest. And when you open then interest calculation report you can mention the interest rate.
How do I post directors to the ledger in BUSY and include interest?
To post directors to the ledger in BUSY and include interest, select the account and post the entry. The entry of interest will be automatically posted.
I am having an issue with interest calculation in BUSY A bill I cleared is not showing up in the interest calculation report How can I fix this
Interest is only applicable when there's an outstanding receivable or payable. If a bill has been settled or adjusted, then interest is not applicable.
Is it possible to view bills of a party who is neither a purchase party nor a sale party in BUSY Accounting Software?
No, it is not possible to view bills of a party who is neither a purchase party nor a sale party in BUSY.
I upgraded to BUSY and am facing problems with interest calculation on cleared bills It seems to be a bug When will this be fixed
It is not a bug or error. Essentially, the interest calculation report is only applicable when there's an outstanding receivable or payable.
I made changes to a bill but didn't save, will the interest still be calculated?
If you made changes in invoice but not saved it then interest will be calculate as per old
data
What are the different interest calculation methods available in BUSY?
BUSY offers you multiple interest calculation methods which are: Product Basis, Mahajani, Bills Receivable / Payable & Bank Interest.
I'm getting inconsistent interest amounts in BUSY. What could be causing this?
The inconsistency in interest amounts in BUSY could be caused by differences in interest rates or compounding periods.
Can you show me how to view tax payments in the interest calculation report?
No, there is no specific feature in BUSY to view tax payments in the interest calculation report.