Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
How do I create a new financial year in BUSY?
To create new financial year in BUSY, please follow these steps :
Step 1: Go to administration menu then click on create new financial year
Step 2: Then click on New year from and click on ok button to create new year.
Step 3: Click on start button.
Step 4: After completing it you will get an pop-up of financial year changed successfully and click on ok button to auto switch in the new year.
How can I transfer accounts from one year to another?
In BUSY, when you create new financial year then all accounts will transfer from previous year to next year automatically. To know how to create new financial year follow the below steps:
Step 1: Go to administration menu then click on last option of change financial year.
Step 2: Then click on new year from and press ok to create.
Step 3: Click on start button to start the process and check after complete it.
The input credit balance from last financial year is not getting carried forward to the current financial year. Why does this happen?
If input credit balance not carry forward in next year then please follow these steps:
1. Take backup of data
2. Then Go in previous year then Go in administration
3. Then Go in change financial year
4. click on carry pending itc if use monthly itc tagging option
5. click on current year then carry forward balances yes
6. Then click on New & change master
How can one ensure that the correct financial years are split and that the correct data is deleted?
To ensure that correct financial year are splitted and correct financial year is deleted, you can check the company list with financial years details and cross check the company years by follow these steps:
Step 1: Open BUSY then click on company menu
Step 2: Select the open company option then tick on show financial year option available at bottom right side of company screen.
Step 3: You will see the company name with financial year.
If i make changes in previous financial year, will it reflect in current financial year?
Yes, If you had made changes in previous financial year it will reflect in current financial year, by using these steps :
Step 1: After making changes in previous financial year you need to go to administration menu.
Step 2: Select change financial year option and choose the next financial year for change and select yes for carry balances.
Step 3: Select new and changed masters option and click on start button to start the process.
I made some changes in financial year 21 and 22, now I want its effect in 23 and 24 What should I do?
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: At the bottom of the administration menu select the Change Financial 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
Will the data from the previous year automatically carry forward to the next year if I work in the same company?
No, the previous year closing balance will not forward automatically in next year. You need to carry forward the balance manually by 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.
What is the process to select the year 2022 and carry forward the balance in BUSY Accounting Software?
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
Does BUSY allow moving select customers to new entities? Can I retain historical data when splitting?
No, when creating a new company in BUSY, there is no feature for moving selected customers to new entities. However, you can move all types of masters from one company to another company.
Alternatively, you can move selected master groups using a feature called "XML Import." utility. Here are the steps to follow:
Step 1: Administration
Step 2: Data Export/Import(XML)
Step 3: Export data
Step 4: Generate the XML file
Step 5: Import in another company
I want to separate the data for financial year 22-23 Can you guide me on this?
To separate the data for the financial year 22-23 Follow the steps given below:
Step 1 : Open BUSY and go to the company menu.
Step 2 : Press enter on Split Financial Year
Step 3 : Select the Company
Step 4 : Select the First or Last Financial Year
Step 5 : Click on Split option
Step 6 : Go to Open Company and check the Financial Year is splitted from the company