Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
Why arent the changes made in the previous year auto-updated in the current year?
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 can I modify the pay and 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 to update item detail from previous year to current year?
For update item detail in current financial year please follow below steps:
Step 1: Open company and make sure now you are in previous year or press f11 for change financial year
Step 2: Now go in administration then go in change financial year
Step 3: Click on current year and click yes on carry balances option
Step 4: Now click on new and changed masters enable carry item's full detail
Step 5: Click on start and click ok on changed financial year successful
Can I modify an account and carry forward the changes made in it to the next financial year?
Yes, you can modify an account in BUSY and carry forward the changes made in it to the next financial year. To carry forward the changes, you need to follow these steps:
Step 1: Go to administration menu then click on Change Financial Year.
Step 2: Then choose the next financial year to change.
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.
What date should I enter for unclear bank entries when transitioning to the new financial year in BUSY
There is no need to select any date for Bank reconciliation while transitioning to the new financial year in BUSY, The Require Steps are as follows :
Step 1: Open the company in BUSY.
Step 2: Go to 'Administration', then select change Financial Year option.
Step 3: Carry Bank Reconciliation entries to desire financial year. & click on start button to proceed.
Step 4: Then switch financial option by pressing 'F11' Key or you can select desire financial year from change financial option.
How can I resolve the error message of opening balance and related entries can be changed only in beginning financial year during change opening balance in account master in BUSY?
In BUSY, you cannot change the opening balance of master in BUSY if the previous financial year exist within the company. Futher, you can split the financial year to modify opening balance of account by 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.
What needs to be done to ensure the matching of the closing and opening balances of parties when two companies financial years are together?
Please follow the following steps for to ensure the matching of the closing and opening balances of parties:
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 do I carry forward closing balances from last year to opening balances in the new financial year?
Please follow the following steps for carry forward of closing balacne from last year as opening balance for next year:-
Step 1:- After finalization of Balancesheet 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 F.Y
Note:- Please take backup first before doing any process
Is there an option to carry forward balances to next financial years in BUSY Accounting software?
Yes, there is an option to carry forward the balances to next financial years in BUSY Accounting software. This can be done through the Change Financial Year option, follow these steps:
Step 1: Take the latest backup of your data.
Step 2: Go to the Administration menu and then click on the Change Financial option.
Step 3: Now select the next financial year and click yes on carry forward the balances.
Step 4: Select all masters and click on the start tab.
Why is the financial data not being forwarded to the next year?
The financial data may not be forwarded to the next year if the balances are not carried forward properly. To carried forward previour year data to next year, follow these steps:
Step 1: Take the latest backup of your data.
Step 2: Go to administration section then click on change financial year.
Step 3: Select the required financial year then click on yes to carry balances.
Step 4: Choose new and change master then Click on start tab and complete the process.