Frequently Asked
Questions

Q: Can we import masters and transactions from the previous financial year into a new company?

To import master and transaction from the previous financial year into a ne company , follow the steps below: Step 1: Go to administration then data export import XML Step 2: Select export data then transaction Step 3: Click on select all transaction and mention date range Step 4: Tick on export relevant master also and select path for export file Step 5: No go to new company then administration then data export import XML Step 6: Select inport data and select file Step 7: Press ok and tick on update opening bal and other information then import

Q: What should i do if opening balance does not match with the last year data?

If opening balance does not match with the last year data follow the below steps: Note: Please take latest backup of the company data Step 1: In last financial year, go to Housekeeping menu and run update master balance option Step2: After completing the process, go to Administration menu Step 3: Then click on change financial year option and select new year start from option Step 4: Now press Yes and select All masters and click on start button Step 5: After completing the process a confirmation message will appear on the screen and you can check the balances

Q: How do I properly close out accounting periods and fiscal years in BUSY?

In BUSY, If you are closing the financial year you mean that all transactions for the year have been entered and posted. Then, you need to generate the necessary reports, such as the balance sheet, profit and loss statement, and cash flow statement. Once you have reviewed and verified the accuracy of these reports, you can proceed with closing the financial year. and can create a new year within the same company from the change financial year option under the Administration menu. Further, provide more information about it so that we can guide you better.

Q: While C/F Data RTE 5 Showing Randomly, How to fix it.

To prevent Random RTE 5 errors while doing C/F Data, follow these steps: Step 1 : Search for Power Plan in your Windows settings. Step 2 : Click on Change Plan Setting. Step 3 : Look for the option that says Put the computer to sleep and set it to Never. Step 4 : Now, click on Change advanced power settings. Step 5 : In the Hard Disk section, set Turn off Hard disk to Never. After making these changes, try to do C/F data. This issue happens when the computer or hard disk goes to sleep during large data C/F.

Q: How can I ensure that changes made to a creditor balances in the previous year do not affect the balances in the following year?

To ensure that changes made to creditor balances in the previous year do not affect the balances in the current year below are the steps:- Step 1: You have to ensure that while switching the Financial year from the Change financial year option you have to come into the next year without carry balances. Step 2: Click on the Change financial year option under the Administration menu after clicking on the Change financial year option you have to do "carry forward balances" as "No" then balances will not be updated in the current year.

Q: How can you manually add data to a previous years ledger, as it cannot be accessed from the current years ledger?

The process for follow to manually add information to a ledger from a previous year to current year you can do carry forward of closing balance of a ledger from last year as opening balance for next year: Step 1: After finalization of Balance Sheet in relevant previous year go to Administration tab. Step 2: Then last option of that tab change financial year. Select relevant year Step 3: A dialogue box appear Carry Balance All Masters, New and change master. Select All master process will start updating balance in next financial year

Q: What is the process for creating new ledgers and forward them in new year data?

For creating new ledgers and incorporating them in this years data follow these steps: Step 1: Go to the Administration tab and click on Masters. Step 2: Select Account and click on Add. Step 3: On the account master page enter the required details such as Name, Group, Address, GSTIN, etc Step 4: Save the master. Step 5: If this master is created in the last year then you have to carry forward the balances with the New Changes . Step 6: Complete the process of Change financial year and new created ledger incorporate with current year.

Q: What should I do if the account balance shows mismatch in next financial year?

If previous financial year closing and current financial year opening balance of accounts are mismatch, follow these steps to resolve this: For Items: 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: After that 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.

Q: How to resolve the masters opening balance mismatch issue in current financial year?

To resolve the opening balance mismatch issue in the current financial year,Then follow the below steps. Step 1: Take the backup of your data Step 2: Go to the last financial year by using the F11 shortcut key Step 3: Click on Housekeeping and run update master balance process Step 4: Go to Administration menu and Click on submenu Change financial year Step 5: Select the financial year which you want to change it and carry balances window will get open,you have to click on yes so that all the balances get carried forward in the current financial year.

Q: How can I resolve the balance issue if the opening balance is zero and the closing balance is different in last year?

To resolve the balance issue in BUSY when the opening balance is zero and the closing balance is different in last year, then you need to run update master balances from the Housekeeping menu and change financial year by using these steps: Step 1: Go to administration menu then click on change financial year. Step 2: Then choose the next financial year which you want to change it Step 3: Select Yes on carry balances window and can choose the new and changed masters option. Step 4: Click on Start button and check after complete the process.

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Can we import masters and transactions from the previous financial year into a new company?

To import master and transaction from the previous financial year into a ne company , follow the steps below:
Step 1: Go to administration then data export import XML
Step 2: Select export data then transaction 
Step 3: Click on select all transaction and mention date range 
Step 4: Tick on export relevant master also and select path for export file 
Step 5: No go to new company then administration then data export import XML
Step 6: Select inport data and select file 
Step 7: Press ok and tick on update opening bal and other information then import

What should i do if opening balance does not match with the last year data?

If opening balance does not match with the last year data follow the below steps:
Note: Please take latest backup of the company data
Step 1: In last financial year, go to Housekeeping menu and run update master balance option
Step2: After completing the process, go to Administration menu
Step 3: Then click on change financial year option and select new year start from option 
Step 4: Now press Yes and select All masters and click on start button 
Step 5: After completing the process a confirmation message will appear on the screen and you can check the balances

How do I properly close out accounting periods and fiscal years in BUSY?

In BUSY, If you are closing the financial year you mean that all transactions for the year have been entered and posted. Then, you need to generate the necessary reports, such as the balance sheet, profit and loss statement, and cash flow statement. Once you have reviewed and verified the accuracy of these reports, you can proceed with closing the financial year. and can create a new year within the same company from the change financial year option under the Administration menu. Further, provide more information about it so that we can guide you better.

While C/F Data RTE 5 Showing Randomly, How to fix it.

To prevent Random RTE 5 errors while doing C/F Data, follow these steps:
Step 1 : Search for Power Plan in your Windows settings.
Step 2 : Click on Change Plan Setting.
Step 3 : Look for the option that says Put the computer to sleep and set it to Never.
Step 4 : Now, click on Change advanced power settings.
Step 5 : In the Hard Disk section, set Turn off Hard disk to Never.
After making these changes, try to do C/F data. This issue happens when the computer or hard disk goes to sleep during large data C/F.

How can I ensure that changes made to a creditor balances in the previous year do not affect the balances in the following year?

To ensure that changes made to creditor balances in the previous year do not affect the balances in the current year below are the steps:-
Step 1: You have to ensure that while switching the Financial year from the Change financial year option you have to come into the next year without carry balances.  
Step 2: Click on the Change financial year option under the Administration menu after clicking on the Change financial year option you have to do "carry forward balances" as "No" then balances will not be updated in the current year.

How can you manually add data to a previous years ledger, as it cannot be accessed from the current years ledger?

The process for follow to manually add information to a ledger from a previous year to current year you can do carry forward of closing balance of a ledger  from last year as opening balance for next year: 
Step 1: After finalization of Balance Sheet in relevant previous year go to Administration tab. 
Step 2: Then last option of that tab change financial year. Select relevant year 
Step 3: A dialogue box appear Carry Balance All Masters, New and change master. Select All master process will start updating balance in next financial year

What is the process for creating new ledgers and forward them in new year data?

For creating new ledgers and incorporating them in this years data follow these steps:
Step 1: Go to the Administration tab and click on Masters.
Step 2: Select Account and click on Add. 
Step 3: On the account master page enter the required details such as Name, Group, Address, GSTIN, etc
Step 4: Save the master. 
Step 5: If this master is created in the last year then you have to carry forward the balances with the New Changes . 
Step 6: Complete the process of Change financial year and new created ledger incorporate with current year.

What should I do if the account balance shows mismatch in next financial year?

If previous financial year closing and current financial year opening balance of accounts are mismatch, follow these steps to resolve this:
For Items:
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: After that 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.

How to resolve the masters opening balance mismatch issue in current financial year?

To resolve the opening balance mismatch issue in the current financial year,Then follow the below steps.
Step 1: Take the backup of your data
Step 2: Go to the last financial year by using the F11 shortcut key
Step 3: Click on Housekeeping and run update master balance process
Step 4: Go to Administration menu and Click on submenu Change financial year
Step 5: Select the financial year which you want to change it and carry balances window will get open,you have to click on yes so that all the balances get carried forward in the current financial year.

How can I resolve the balance issue if the opening balance is zero and the closing balance is different in last year?

To resolve the balance issue in BUSY when the opening balance is zero and the closing balance is different in last year, then you need to run update master balances from the Housekeeping menu and change financial year by using these steps:
Step 1: Go to administration menu then click on change financial year.
Step 2: Then choose the next financial year which you want to change it
Step 3: Select Yes on carry balances window and can choose the new and changed masters option.
Step 4: Click on Start button and check after complete the process.

Frequently AskedQuestions