Frequently Asked Questions

If 2022-23 financial year is not showing in the Split Financial Year option then the 2022-23 financial year is not the staring or last financial year.
If you want to split the mid financial year, you need to follow these steps:
Step 1: Open BUSY then click on Backup Data.
Step 2: Choose your company of which financial year you want to split.
Step 3: Enter the backup file path and select the financial year which you want to split and create a seperate company.
Step 4: Now, click on Restore Data and select that backup folder and select No on overwrite option.
Step 5: A seperate company will be created of that financial year.

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.

To carry forward the closing balances as opening in the next financial year after updating in the previuos year then you need to follow the below steps:
Step 1: Open company and press F11 to switch into the last financial year.
Step 2: Then click on Housekeeping menu and click on update master balances and press ok button to run the process.
Step 3: After completion of Update master balances then click on administration menu and click on change financial year.
Step 4: Then click on current financial year and press yes button to carry the balances.
Step 6: Then click on all master and click on start button to proceed the process.

To take backup for selected financial year in BUSY, follow these steps:
Step 1: Open BUSY then click on company menu.
Step 2: Choose the backup data option then select required company
Step 3: Mention the company admin username and password and click on ok tab
Step 4: Specify the path for backup, select the required financial year and click on ok to take backup.
To restore the data backup in BUSY, follow these steps:
Step 1: Open the BUSY then click on company menu.
Step 2: Select the restore data option then specify the backup path for restoration.
Step 3: Click on ok tab then select yes for data restoration and select No for overwrite.

The reason for the mismatch in the balance coming from the previous year in BUSY is due to you have made changes in last year after created a new financial year. To resolve this 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: Then choose the next financial year to change.
Step 5: Select Yes on carry balances window and can choose the New and Changed Masters option.
Step 6: Click on Start button and check after complete the process.

If you want to change the financial year then please follow the provided steps
 Step 1: Go to Administration then select the option of Change financial year from 
 dropdown options.
 Step 2: Then on enter you can see the dropdown list where you can see the list of 
 financial year that you have in BUSY. So here you will select in which you 
 want to file GSTR and enter. 
 Step 3: On enter you will get a Pop up of carry balances , Here you need to select
 NO
 Step 4: Now, Your financial year has changed succefully.Can start GSTR filing now
 Thankyou.

Before you close an accounting period in BUSY, we suggest you follow these steps:
Step 1: Post a depreciation voucher to calculate the actual value of your fixed assets.
Step 2: Pay off all your liabilities that are due in the current financial year.
Step 3: Review your balance sheet and profit & loss statements and correct any errors if found.
Step 4: Transfer your net profit or loss amount to the capital account.
Step 5: Review your inventory also and pass stock journal or physicall stock voucher if found any discrepencies.
Step 6: After complete all these steps you can create new financial year by going to Administration menu then Change Finanial Year.

The process for closing the financial year in BUSY involves carrying forward closing balances, making necessary adjustments and create new FY, carry forward closing balances you can follow these steps: 
 Step 1: Before making any changes, it's crucial to create backup. 
 Step 2: Go to Administration Menu and click on Change Financial Year. 
 Step 3: Click on New Year from example 01-04-2025.will popup msg window of you are going to create a new F.Y. starting from 01-04-2025. click on Ok. 
 Step 4: Select required details and click on Start. 
 Step 5: will get new FY. for more details like on above link https://youtu.be/ICNZkpEswYE?feature=shared

To issue with a item not being carried properly please follow below steps:
Step 1: Go to last year in the BUSY using Shortcut Key F11.
Step 2: If the Item alias was same as per the last year then it will be not carry forward to the next year . You need to change the alias in the last year.  
Step 2: Select house keeping menu, try to regenerate master Help Files 
Step 3: Complete the Process . 
Step 4: Change the financial year with new changes . 
Step 5: Go To administration menu and select current year . 
Step 6: Carry forward balance with new changes. 

If you had change an Item unit in previous year and its not updated in current year, then 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 Item then click to Modify.
Step 3: Select that Item and resave it by press 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.