Frequently Asked
Questions
Find Solutions to Common Issues Related to accounting-reports - outstanding analysis
I dont see some voucher entries in BUSY how do I view them
To view missing voucher entries in BUSY, you can try the following steps:
Step 1. Check the voucher entry date range: Make sure you are selecting the correct date range in BUSY to view the vouchers. If the vouchers were entered outside of the selected date range, they may not be visible.
Step 2. Verify the voucher type: Ensure that you are looking for the vouchers in the correct voucher type. BUSY categorizes vouchers based on their type, such as sales, purchase, payment, receipt, etc. Make sure you are checking the appropriate voucher type.
Step 3. Check the voucher number: If you know the specific voucher number, you can directly search for it in BUSY. Use the search or filter options to locate the voucher by its number.
Step 4 :BUSY often provides an audit trail feature that allows you to track changes to transactions. Review the audit trail to understand how the issue occurred and ensure that the corrections are accurately reflected.
Step 5 :Reconcile your inventory accounts to ensure that they match your physical stock levels and the corrected transfer entry.
Step 6 :If you encounter technical challenges or need assistance in resolving the issue, consider reaching out to BUSY's customer support for guidance.
How do I generate reports, manage receivables/payables and reconcile bank statements?
If you want to view Amount Receivables / Payables in BUSY, you can follow these steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Display tab and click on Outstanding Analysis.
Step 2: Choose the Amount Receivable / Amount Payable that you want to view. You can filter the report by All Accounts, Group of Accounts or Selected Accounts. Then, enter the end date for tracking the outstanding amount and open the report.
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 Reconciliation" option 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 steps should I take if a receipt voucher contains an error
If you encounter an error in a receipt voucher, it's important to address it promptly to maintain accurate financial records. Here are the steps you should take to correct a receipt voucher with an error:
Step 1 :Carefully review the receipt voucher to identify the specific error. It could be a mistake in the amount received, the date, the payee's information, or other details.
Step 2 :Different errors may require different corrective actions.
Step 3 :Refer to your company's accounting policies and procedures to understand how errors should be corrected.
Step 4 :If it's a minor data entry error, you may be able to correct it directly in the receipt voucher.
Step 5 :If the voucher needs to be voided and reissued, follow your company's procedures for voiding and reissuing vouchers.
Step 6 :. This may involve making a note in the voucher itself explaining the error and correction, as well as referencing any related journal entries.
Step 7 :If your company has a specific approval process for correcting financial documents, ensure that the correction is approved by the relevant personnel before finalizing it.
Step 8 :Have a second set of eyes review the correction to ensure accuracy and compliance with accounting standards.
How do I create a new sales invoicebill in BUSY but it says the reference number already exists
Recording Purchaseor sales in BUSY involves creating a Purchase or sales voucher or entry that captures the transaction details. Here's a step-by-step guide on how to record credit sales:
Step 1 :In the software's Transaction menu navigate to the Salesor Purchase Section. Look for an option that allows you to create a new sales voucher.
Step 2 :Begin by selecting the customer to whom you are making the Purchaseor sale. If the customer is not already in your database, you may need to create a new customer account with their details.
Step 3 :Specify the appropriate Purchase orsales ledger for the type of product or service being sold. The {Purchase or sales ledger helps categorize the sale for accounting and reporting purposes.
Step 4 :Enter the details of the Purchaseor sale, including:
Date of the sale,Invoice or reference number (if applicable).Description of the items or services sold.,Quantity sold,Unit price or rate,Any applicable taxes or discounts.
Date of the Invoice or reference number (if applicable).Description of the items or services Purchase.,Quantity ,Unit price or rate,Any applicable taxes or discounts.
Step 6 :Review the Purchaseor sales voucher entry for accuracy. Ensure that all details are correct. If everything looks good, save the entry.
How to register a new customer and record sales in BUSY
Recording Purchaseor sales in BUSY involves creating a Purchase or sales voucher or entry that captures the transaction details. Here's a step-by-step guide on how to record credit sales:
Step 1 :In the software's Transaction menu navigate to the Salesor Purchase Section. Look for an option that allows you to create a new sales voucher.
Step 2 :Begin by selecting the customer to whom you are making the Purchaseor sale. If the customer is not already in your database, you may need to create a new customer account with their details.
Step 3 :Specify the appropriate Purchase orsales ledger for the type of product or service being sold. The {Purchase or sales ledger helps categorize the sale for accounting and reporting purposes.
Step 4 :Enter the details of the Purchaseor sale, including:
Date of the sale,Invoice or reference number (if applicable).Description of the items or services sold.,Quantity sold,Unit price or rate,Any applicable taxes or discounts.
Date of the Invoice or reference number (if applicable).Description of the items or services Purchase.,Quantity ,Unit price or rate,Any applicable taxes or discounts.
Step 6 :Review the Purchaseor sales voucher entry for accuracy. Ensure that all details are correct. If everything looks good, save the entry.
How do I enter a new sale into BUSY
Recording Purchaseor sales in BUSY involves creating a Purchase or sales voucher or entry that captures the transaction details. Here's a step-by-step guide on how to record credit sales:
Step 1 :In the software's Transaction menu navigate to the Salesor Purchase Section. Look for an option that allows you to create a new sales voucher.
Step 2 :Begin by selecting the customer to whom you are making the Purchaseor sale. If the customer is not already in your database, you may need to create a new customer account with their details.
Step 3 :Specify the appropriate Purchase orsales ledger for the type of product or service being sold. The {Purchase or sales ledger helps categorize the sale for accounting and reporting purposes.
Step 4 :Enter the details of the Purchaseor sale, including:
Date of the sale,Invoice or reference number (if applicable).Description of the items or services sold.,Quantity sold,Unit price or rate,Any applicable taxes or discounts.
Date of the Invoice or reference number (if applicable).Description of the items or services Purchase.,Quantity ,Unit price or rate,Any applicable taxes or discounts.
Step 6 :Review the Purchaseor sales voucher entry for accuracy. Ensure that all details are correct. If everything looks good, save the entry.
How do I update the brought forward balance in BUSY
Certainly, here are the steps to update master balances in the current financial year (FY) using the Update Master Balancesutility and then carry forward the balances to the next FY using the Change FYprocess in accounting software:
Step 1:Access your accounting software and log in with administrative or appropriate user credentials.
Step 1 :Look for the Update Master Balancesor a similar option. This utility is typically used to adjust or correct balances in the current FY.
Step 3 :In the Update Master Balancesutility, you may need to specify the parameters for the balances you want to update.
Step 4 :Find the Change FY process. This process is used to transition from the current FY to the next FY.
Step 5 :In the Change FYprocess, specify the start and end dates for the next FY.
Step 6 :Within the Change FYprocess, you should see an option to carry forward balances from the current FY to the next FY.
STep 7 :The software will carry forward the balances from the current FY's closing balances to the next FY's opening balances.
Step 8 :After completing the FY change process, review the results to ensure that the balances have been correctly carried forward.
I want to take aging for multiple states (e.g. Maharashtra and Gujarat) but the system only allows me to take aging for one state. How can I generate aging reports for multiple states?
To generate ageing reports for multiple states, you use custom column of state column & then apply multi filter. To configure it please follow the stepsbelow:
Step 1: Open ageing Bills payable /receivable report without filter on state option
Step 2: Click on the Custom Column option which is available at the top right on the report
Step 3: Then enter the name of the format and then press enter
Step 4: After this click on Add new column/row
Step 5: Enter the column title(State), then specify the position after which column you want to add the new column
Step 6: Select the data type(text) and then choose alignment and enter charcter
Step 7: Click on the data field and then select the category from which you want the data to appear in a new column(Account Master) and then select the account name col. (F1) select column field in which account name is showing
Step 8:Click on filed & select the field accordingly(ACC_STATE) and then save field & then save then column
Step 9: Re-open the Ageing Bills receivable/payable report with new created format
Step 10: Press F7 on report & then apply multiple filter on state and check
How can I alter the opening balances in prior financial periods in BUSY
Certainly, here are the steps to update master balances in the current financial year (FY) using the Update Master Balancesutility and then carry forward the balances to the next FY using the Change FYprocess in accounting software:
Step 1:Access your accounting software and log in with administrative or appropriate user credentials.
Step 1 :Look for the Update Master Balancesor a similar option. This utility is typically used to adjust or correct balances in the current FY.
Step 3 :In the Update Master Balancesutility, you may need to specify the parameters for the balances you want to update.
Step 4 :Find the Change FY process. This process is used to transition from the current FY to the next FY.
Step 5 :In the Change FYprocess, specify the start and end dates for the next FY.
Step 6 :Within the Change FYprocess, you should see an option to carry forward balances from the current FY to the next FY.
STep 7 :The software will carry forward the balances from the current FY's closing balances to the next FY's opening balances.
Step 8 :After completing the FY change process, review the results to ensure that the balances have been correctly carried forward.
I need to track my accounts receivable in BUSY but I don't see an aging report option. Is there a way to see a receivables aging report?
To track your accounts receivable in BUSY but you don't see an aging report option, you can access ageing reports through the following steps:
Steps 1: Go to Display, then select Outstanding Analysis, and choose Ageing Receivables.
Steps 2: Select the option for ageing analysis, which can be done for one account, a group of accounts, all accounts, selected accounts, or selected groups.
Steps 3: Specify the date range and relevant information, then press OK or F2 to generate the ageing analysis report.
Another report option is:
Steps 1: Navigate to Display, then select Outstanding Analysis.
Steps 2: Choose Ageing Receivables (FIFO Basis).
Steps 3: Select whether you want to view the report party-wise or party-group-wise.
Steps 4: Choose the option to generate an ageing receivables report (FIFO basis) for one party, a group of parties, all parties, or selected parties.
Steps 5: Specify the date and other relevant information and press OK or F2 to load the ageing analysis (FIFO basis) report.
These reports will help you manage and analyze your accounts receivable ageing in BUSY.
