Frequently Asked
Questions
Find Solutions to Common Issues Related to accounting-reports - outstanding analysis
I have an outstanding payment that is not showing up properly in the software How can I get this fixed
If you're having trouble getting your balances and payments to show correctly in BUSY, it can be frustrating, but there are several steps you can take to troubleshoot and resolve the issue. Here's a guide to help you address this problem:
Step 1 :Double-check the accuracy of your data entry. Ensure that invoices, bills, and payments are recorded correctly with the appropriate dates, amounts, and account selections.
Step 2 :Reconcile your bank and cash accounts to ensure that all transactions are accounted for and match your bank statements.
Step 3 :Ensure that payments are correctly applied to the corresponding invoices.
Step 4 :Verify that you are working within the correct accounting period or financial year. Ensure that the dates for your transactions fall within the selected period.
Step 5 :Generate and review various reports, such as trial balances, accounts receivable, and accounts payable reports, to identify discrepancies or missing entries.
Step 6 :Review outstanding receivables and payables to ensure they match your records and expectations.
Step 7 : Search for duplicate entries, such as duplicate invoices or payments, that may be causing balance inaccuracies.
Im having trouble getting my balances and payments to show correctly in BUSY What should I do
If you're having trouble getting your balances and payments to show correctly in BUSY, it can be frustrating, but there are several steps you can take to troubleshoot and resolve the issue. Here's a guide to help you address this problem:
Step 1 :Double-check the accuracy of your data entry. Ensure that invoices, bills, and payments are recorded correctly with the appropriate dates, amounts, and account selections.
Step 2 :Reconcile your bank and cash accounts to ensure that all transactions are accounted for and match your bank statements.
Step 3 :Ensure that payments are correctly applied to the corresponding invoices.
Step 4 :Verify that you are working within the correct accounting period or financial year. Ensure that the dates for your transactions fall within the selected period.
Step 5 :Generate and review various reports, such as trial balances, accounts receivable, and accounts payable reports, to identify discrepancies or missing entries.
Step 6 :Review outstanding receivables and payables to ensure they match your records and expectations.
Step 7 : Search for duplicate entries, such as duplicate invoices or payments, that may be causing balance inaccuracies.
The outstanding amount shown in BUSY doesnt match my records What could cause this discrepancy
If you're having trouble getting your balances and payments to show correctly in BUSY, it can be frustrating, but there are several steps you can take to troubleshoot and resolve the issue. Here's a guide to help you address this problem:
Step 1 :Double-check the accuracy of your data entry. Ensure that invoices, bills, and payments are recorded correctly with the appropriate dates, amounts, and account selections.
Step 2 :Reconcile your bank and cash accounts to ensure that all transactions are accounted for and match your bank statements.
Step 3 :Ensure that payments are correctly applied to the corresponding invoices.
Step 4 :Verify that you are working within the correct accounting period or financial year. Ensure that the dates for your transactions fall within the selected period.
Step 5 :Generate and review various reports, such as trial balances, accounts receivable, and accounts payable reports, to identify discrepancies or missing entries.
Step 6 :Review outstanding receivables and payables to ensure they match your records and expectations.
Step 7 : Search for duplicate entries, such as duplicate invoices or payments, that may be causing balance inaccuracies.
Why is a payment showing as a negative amount in BUSY
In the context of accounting or financial software like BUSY, a payment showing as a negative amount typically indicates one of the following scenarios:
Step 1: A negative payment amount might represent a refund or return of funds to a customer or client.
Step 2 : These credit notes can be used by the customer to reduce the amount they owe for future purchases. In accounting software, these credit notes are often recorded as negative payments.
Step 3 :Negative payments can also be used to correct errors or adjust account balances.
Step 4 :In cases where a customer disputes a credit card charge and their bank initiates a chargeback, the disputed amount may show up as a negative payment in your records until the matter is resolved.
Step 5 :In some accounting systems, it is a convention to use negative numbers for certain types of transactions, like expenses or deductions, to differentiate them from positive numbers, which represent income or credits.
Step 6 :In such cases, it's essential to review your software settings and data entry to identify and rectify the problem.
How can I set up automatic salary payment to employees using the payroll software? I want to streamline the process.
To set up automatic salary payment to employees using payroll software, you will need to follow these steps:
Step 1. Configure the payment mode: Set up the payment mode as Bank Transfer or Direct Deposit in the payroll software.
Step 2. Link employee bank accounts: Enter the bank account details of each employee in the software. This will allow the software to automatically transfer the salary to their respective bank accounts.
Step 3. Set up salary processing: Configure the salary structure and components for each employee, including basic salary, allowances, deductions, and taxes.
Step 4. Schedule salary processing: Set a specific date for salary processing, such as the last working day of the month. This will ensure that salaries are processed automatically on the scheduled date.
Step 5. Generate salary vouchers: The payroll software will automatically generate salary vouchers based on the configured salary structure and employee details.
Step 6. Initiate automatic payment: Once the salary vouchers are generated, the payroll software can be set to automatically initiate the payment to the employees' bank accounts.
How do I search for a specific customers outstanding amount in BUSY
In BUSY, you can generate various reports to consolidate party-wise transactions and view accounts receivable for selected parties or all parties. Here's how you can do it:
Step 1 :Select Ledgeror Account Ledger.
step 2 :Choose the specific party or ledger account for which you want to view transactions. You can do this by selecting the party from the list.
Step 3 :This report will consolidate all transactions for that party, including invoices, payments, and adjustments.
Step 4 :Look for a report titled Bills Receivableor Outstanding Bills.
Step 5 :Generate the report, and it will show you the outstanding bills receivable for the selected parties or all parties, including details like invoice numbers, due dates, and amounts
Step 6 :Remember that the specific steps and names of options in BUSY may vary depending on the version and configuration of the software. If you have trouble finding these reports or need further assistance, it's a good idea to refer to BUSY's user documentation or contact their customer support for guidance tailored to your specific version of the software.
How do I see my outstanding bills receivable in BUSY
In BUSY, you can generate various reports to consolidate party-wise transactions and view accounts receivable for selected parties or all parties. Here's how you can do it:
Step 1 :Select Ledgeror Account Ledger.
step 2 :Choose the specific party or ledger account for which you want to view transactions. You can do this by selecting the party from the list.
Step 3 :This report will consolidate all transactions for that party, including invoices, payments, and adjustments.
Step 4 :Look for a report titled Bills Receivableor Outstanding Bills.
Step 5 :Generate the report, and it will show you the outstanding bills receivable for the selected parties or all parties, including details like invoice numbers, due dates, and amounts
Step 6 :Remember that the specific steps and names of options in BUSY may vary depending on the version and configuration of the software. If you have trouble finding these reports or need further assistance, it's a good idea to refer to BUSY's user documentation or contact their customer support for guidance tailored to your specific version of the software.
What reports show consolidated partywise transactions in BUSY
In BUSY, you can generate various reports to consolidate party-wise transactions and view accounts receivable for selected parties or all parties. Here's how you can do it:
Step 1 :Select Ledgeror Account Ledger.
step 2 :Choose the specific party or ledger account for which you want to view transactions. You can do this by selecting the party from the list.
Step 3 :This report will consolidate all transactions for that party, including invoices, payments, and adjustments.
Step 4 :Look for a report titled Bills Receivableor Outstanding Bills.
Step 5 :Generate the report, and it will show you the outstanding bills receivable for the selected parties or all parties, including details like invoice numbers, due dates, and amounts
Step 6 :Remember that the specific steps and names of options in BUSY may vary depending on the version and configuration of the software. If you have trouble finding these reports or need further assistance, it's a good idea to refer to BUSY's user documentation or contact their customer support for guidance tailored to your specific version of the software.
How do I check how much I have collected so far against the total billed amount for a specific product group across all parties in BUSY
To generate various reports, including audit logs, in BUSY, you can go to the Reports section in the software. From there, you can select the specific report you want to generate, such as the Audit Trail report. The software will then generate the report based on the selected parameters and display it for you to view or export. Please follow the steps :
Step 1 : Within the Display or Reports section, find the option that allows you to generate a report on Amounts Receivable - Payableor Bills Receivable and Payable ,Aging Analysis.
Step 2 :After selecting the report option, you will likely be prompted to specify the date range for the report.
Step 3 : You can select party group , one selected parrty or all accounts report view.
Step 3 :After selecting the report option, you will likely be prompted to specify the report view like due , pending , or All including .
Step 4 : Select as per you requirement and save the changes and generate the report.
How do I apply payments in BUSY if I received them into my bank account rather than cash
If BUSY is showing the full amount as still due after receiving a partial payment, there may be a specific issue or mistake that needs to be addressed. Here are some common reasons why this might occur and steps to help you identify and rectify the problem:
Step 1:Ensure that you've allocated the partial payment to the specific invoice you want to pay.
Step 2 :Review the payment entry and confirm that the payment amount accurately reflects the partial payment received.
Step 3 :Check if the partial payment was accidentally applied to another invoice. If so, reallocate the payment to the correct invoice.
Step 4 :Correct the payment date to match the actual date of payment.
Step 5 : If none of the above solutions resolve the problem, consider contacting BUSY's customer support for assistance.
Step 6 :If you didn't save the payment entry, re-enter the payment with the correct details and be sure to save it.
Step 7 ;Find the option in BUSY to mark the invoice as Paidor Closedonce the partial payment is applied.
