Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
How can I link or carry forward the closing ITC balance from the last financial year to the opening balance of the current financial year?
To link or carry forward the closing ITC balance from the last financial year to the opening balance of the current financial year, Please follow below steps:
Step 1 : Go back to the last financial year.
Step 2 : In the Administration Menu, choose Change Financial Year.
Step 3 : Pick Carry Pending ITC Entries for the financial year starting from April 1, 20XX.
Step 4 : After carrying forward your pending ITC, switch back to the current financial year.
Can I update the closing stock of last year as the opening stock of the new financial year after a financial split?
No, once you split the financial year of your company then you can not update the closing stock of last year as the opening stock of the next financial year. You need to enter stock value manually in the new financial year by using these steps:
Step 1: Open your company then go to Administration menu.
Step 2: After that select Masters and choose Account then click to Modify.
Step 3: Select the Stock account and after opening it enter the opening stock value manually then save it.
How do I correctly record and carry forward entries in BUSY that belongs to previous financial years?
To correct entries in previous financial year and carry forward balance you have to follow the below steps:
Step 1: Go to Administration then click on change financial year to previous
Step 2: Click on Financial year for the year and press ok
Step 3: Then select entry and modify then save
Step 4: Go to administation then select change financial year option
Step 5: then select the financial year and prompt will show for do yo want to carry forward balance select yes
What should I do if there are a lot of bulk entries and its not possible to forward balance immediately?
YES, you should do if there are a lot of bulk entries and its not possible to forward balance immediately,please follow below steps:
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. New and change master. Select New and change master process will start updating balance in next financial year
Note: Please take backup first before doing any process
Can I modify a partys name in the last year and have it automatically transferred to the current year?
Yes, if you modified a party name in last year and want to transfer in current year automatically follow the below steps:
Step 1: Go to Administration and select masters
Step 2: Select Account and modify the required account and change the details
Step 3: When you change the name of a account a message will appear that the Name of this master has been changed. Do you want this change to be reflected in other Financial year also, Yes this option to change in current year.
How to create a financial year without carry forward the balances of the last year?
To create the financial year without carry forward the balances of the last year, Then follow the below steps.
Step 1: Click on Administration and sub menu Change Financial Year
Step 2: Select the new financial year from which you want to create it after that the change financial year window get open
Step 3: Then tick the option of create new year only Don't carry balances and click on Start button.Here your Financial year will get change without carry the masters balances to the next year.
Can you explain how to split the financial year from a merge companyin BUSY?
To split single financial year data from merged company in BUSY, follow these steps:
Step 1: Take the latest backup of your data.
Step 2: Open BUSY then click on split financial year option.
Step 3: Select the required company and specify the admin login credentials.
Step 4: Select Financial year for splitting and click on split option.
Note- To split the middle financial year of company in BUSY, you need to take the backup of company for particular financial year and restore the same with overwrite no option.
What is the process to split financial year from a company?
To split the financial year from a company in BUSY, you need to follow these steps:
Step 1: Open BUSY then select split financial year option.
Step 2: Then select the company in which you want to split the financial year.
Step 3: Enter the admin login username and password and you will see fist and last financial year of company.
Step 4: Select financial year as required and tick on the below option if you want to delete the splited financial year from the source company.
How do I separate single financial year data from merged company?
To separate single financial year data from merged company in BUSY, follow these steps:
Step 1: Take the latest backup of your data.
Step 2: Open BUSY then click on split financial year option.
Step 3: Select the required company and specify the admin login credentials.
Step 4: Select Financial year for splitting and click on split option.
Note- To split the middle financial year of company in BUSY, you need to take the backup of company for particular financial year and restore the same with overwrite no option.
I am not able to find my last year data?
To find the last year data, please follow below steps:
Step 1: Go to the Administration at the bottom of this menu click on Change Financial Year
Step 2: Here you can get your desired year if already created
Follow the below steps for change Financial year:
Step 1: Go to last year in the BUSY using Shortcut Key F11.
Step 2: Change the financial year with new changes .
Step 3: Go To administration menu and select current year .
Step 4: Carry forward balance with new changes.