Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
What is the process for changing the financial year in BUSY?
When you want to change the financial year first time. Pls Follow the Below Steps :
Step 1: Click on Administration
Step 2: Then Change Financial Year
Step 3: Then Click on Start, if you want to carry forward the balance of masters from last financial year.
Step 4: If you dont want to carry forward the balance, Then tick the option create new finnacial year dont carry balances.
Note :- Do this process after Data Backup.
How do I split or archive old financial year data in BUSY to reduce the size?
Step 1: Need to take backup first after that Go to Company Menu and click on Split financial Year Option.
Step 2: Select the company which you want to split and then enter login credential if have then tick the financial Year which you want to split and if want to split from middile financial Year then you tick split first or last financial Year with tick the option After Spliting Delete above F.Y. from source company and click on Split option.
I want to separate financial year from my company , how to do it ?
To split company you can follow the step mentioned below:
Step 1: Go the company menu and click on Split Financial year option.
Step 2: Now select the company and enter login credential.
Step 3: Now the tick the financial Year which you want to split and if you want to split from middile financial Year then you have to tick split first or last financial Year with tick the option After Spliting Delete above F.Y. from source company and click on Split option.
Why is the previous years balance not automatically forwarded in BUSY Accounting Software and how can I manually carry it forward?
Please follow the following steps for carry forward of closing balance 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
Note: Please take backup first before doing any process
How should I correctly record the carry forward of ITC closing balance to opening balance between financial years in BUSY?
To carry forward the correct record of ITC closing balance to opening balance between financial years in BUSY, 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.
Is there an option in BUSY Accounting Software to not carry forward item balances while change financial year ?
Yes, there is an option in BUSY Accounting Software to not carry forward item balances while change financial year follow below steps:
Step1: Go to Administration menu and click on change financial year option
Step2: Then click on next financial year and press ok and tick on the check box of do not carry item balances option then press on start
Step3: It will take few minutes to complete the process and after that a confirmation message will appear on the screen
How can I change the financial year in BUSY after making some entries for the next year?
If you want to change the financial year after making some entries for the next then
please follow the given steps
Step 1: Go to administration menu then change financial year
Step 2: Then new year from then create new f y window will appear click on ok tab.
Step 3: Then create new year window will appear then click on start resultant
process of creation will start.
Step 4: Your financial year will be created successfully.
Why am I not able to see the previous years bill by bill reference in BUSY?
If in new financial year balances has been carry forward but bill by bill reference not carried, you need to follow these steps to resolve this:
Step 1: Go to previous financial year then run update master balances process from the housekeeping menu.
Step 2: Then go to administration menu and select change financial year option then choose the next financial year to chagne.
Step 3: Press yes to carry balances and select all masters process then click on start button to proceed.
Why are some pending bill references are not get carry forward to the next year?
If some pending bill references are not get carry forward in the next year then you need to check the below steps in the last year outstanding analysis report from display menu.
Pls follow the below steps.
Step 1: Make sure that you have created the bill references and should not be in On Account entries.
Step 2: If you have adjusted the references later in the last year then ensure that you have changed the financial year with carry forward the balances.
I want to update the changes of last financial year to the current financial year?
If you want to update the changes done in last financial year to current financial year in BUSY, please follow these steps:
Step 1: If you have done the changes in last financial year then go to administration menu.
Step 2: Select change financial year option and choose the next financial year to change.
Step 3: Select yes on carry forward balances window and choose the new and changes masters option.
Step 4: Click on start button to proceed and check after complete.