Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
Why arent my the closing balance of last year is not updated as the opening in the current year?
The closing balance of last year is not updated as the opening in the current year due to you had made changes in last year after creating the current financial year.
To resolve this mismatch follow these steps:
Step 1: Take backup of your company.
Step 2: Open your company in last year then run Update Master Balances process from the Housekeeping menu.
Step 3: Now, go to Administration menu then click on Change Financial Year.
Step 4: After that choose the next financial year to change.
Step 5: Select Yes on carry balances window then choose the New and Changed Masters option.
Step 6: Now, Click on the Start button and check after complete the process.
What is the correct process to follow when transitioning from one financial year to the next in BUSY?
If you want to the process of Transaction in last Financial Year You can follow these steps to check this:
Step 1: If you are Not Split Financial Year Press F11 or you can Go to Administration, change financial year then click on alst year.
Step 2: Then done the transaction Then Go to Housekeeping Menu,Run the Update Master Balance process.
Step 3: Go to Administration, change the financial year, and then click on your current year.
Step 4: Click Yes to carry forward the balances. If the data size is small, click on All Masters. If the data size is big, click New and change masters.
Step 5: Check the balance of your masters.
How can I check the all financial years a company data has been together in the software?
To check all financial years data in company, please follow below steps:
Step 1: Go to the Company Menu and click on the company menu and select the company from the given list which you want to check the financial years data.
Step 2: And then click on the Administration menu and then select option from the bottom of Change Financial year.
Step 3: Now list of financial year will be visible there. And then click on the particular financial year .
Step 4: Now you can go through the voucher statistics option by checklist option under the display menu.
Step 5: Follow the same process for all the financial years.
Can I split a three financial year company into three separate companies?
Yes, you can split three financial years company into three seperate companies by using these steps:
Step 1: Open BUSY then click on split financial year option under the company menu.
Step 2: Select the company of which financial year you want to split and enter super or admin login credentials, If required.
Step 3: You will first and last financial year of company so tick on as reqruired and tick on after spliting delete above financial year from source company.
Step 4: A sepereate company will be create of splited financial year and in the source company two financial years will remain.
Step 5: Follow the same process for split remaining two financial years.
Can I create a new year to transfer balances smoothly?
Yes, BUSY allows you to create a new financial year and transfer balances smoothly.To create financial year in BUSY, please follow these steps :
Step 1 : Go to administration menu then click on Create new financial year
Step 2 : Then click on New year from and click on Ok button to create new year.
Step 3 : Click on start button.
Step 4 : It will take some time vary upon the data size.
Step 5: Now you will get an pop-up of Financial year changes successfully and click on Ok button to auto switch in the new year.
Step 6: It will transfer all balances smoothly to next financial year.
How to carry forward closing balance in next financial year?
To carry forward closing balance in next financial year in BUSY you need to process the following steps:
Step 1: Go to Administration menu and then click on change financial Year option
Step 2: Select next financial Year and press yes for the option of you are going to change financial Year do you want to carry forward balances
Step 3: After that select all master if you want to carry forward the all master balances or select new and changed master If you want carry forward only those master in which you have made changes then press ok
Step 4: Now press start to change financial year with closing balance forwarded.
Steps to Troubleshoot carry forward amount inbalance issue in BUSY.
To troubleshoot a carry forward amount imbalance issue in BUSY, you can try the following Steps:
Step 1 : Verify that all transactions and balances are correctly entered and updated in the previous financial year.
Step 2 : Check if there are any pending transactions or entries that need to be cleared or adjusted.
Step 3 : Ensure that the carry forward process is performed accurately, including selecting the correct accounts and balances to carry forward.
Step 4 : Double-check the opening balances and closing balances of all relevant accounts.
Step 5 : Review any error messages or warnings that may appear during the carry forward process and take appropriate action to resolve them.
My party ledger closing for previous financial year and opening for current financial year are not matching. How can I resolve this issue?
To resolve the mismatch of previous financial year and opening for current financial year of a party ledger in BUSY, you need to follow these steps:
Step 1: Open your company in last year then go to Administration menu.
Step 2: After that select Masters and choose Account then click to Modify.
Step 3: Select that party ledger and resave it by pressing enter.
Step 4: Now, go to Administration menu then click on Change Financial Year.
Step 5: Then choose the next financial year to change.
Step 6: Select Yes on carry balances window and can choose the New and Changed Masters option.
Step 7: Click on Start button and check after complete the process.
The closing balance is not getting carried forward correctly to the next financial year. What should I do to fix this issue?
The closing balance is not getting carried forward correctly to the next financial year,need to follow these steps to resolve the issue:
Step 1: Open the BUSY software.
Step 2: Look for an option called Administration in the menu. Click on it.
Step 3: In the Administration menu, find and click on the Change Financial Year option.
Step 4; Choose the current financial year (FY) to work in, and start the process.
Step 5: If you also have some leftover work or tax credit entries from the previous year that you want to use in the current year, you can do that using the same Change Financial Year menu.
Can you help me set the opening balance of all my masters to zero in next year?
If Need to zero opening balance in next financial year, please follow these steps :
Step 1 : Close BUSY company
Step 2 : Go to company menu and take backup of data from backup data option
Step 3 : Now go to split financial year, select company want to split
Step 4 : Mention super user name and password click ok
Step 5 : Split the financial year
Step 6 : Now splited company will show seperately in company menu
Step 7 : Now open splited company
Step 8 : Go to administration then bulk updation
Step 9 : Multiple item creation and modification select and update master balances of all item opening balances as zero save.