Frequently Asked
Questions

Find Solutions to Common Issues Related to configurations - change fy

FAQs

Why is my CGST credit balance not getting carried forward even though it is meant for the current financial year? How to resolve this issue?

here are the steps:
 Step 1: First, go back to the financial year for which you want to update the old bills
 Step 2: Go to Transaction menu . Open and Modify Invoices
 STep 3: Save the Changes
 Step 4: Carry Forward to Current Year
 Step 5; Now, to make sure these changes are reflected in the current financial year, use the Change FY (Change Financial Year) option.

The shortcut ALT+M mentioned is not updating my opening balance. What is the correct way to update opening balances of the current financial year?

here are the steps:
 Step 1: First, go back to the financial year for which you want to update the old bills
 Step 2: Go to Transaction menu . Open and Modify Invoices
 STep 3: Save the Changes
 Step 4: Carry Forward to Current Year
 Step 5; Now, to make sure these changes are reflected in the current financial year, use the Change FY (Change Financial Year) option.

I need to do change financial year with new and changed master. What is the process to do this in the software?

To change the financial year and master in the software, please follow the below setps: 
1: After login the company then change financial year through F11 and select previous financial year
2: Go to administration menu and click on change FY option
3: Click on new or Latest FY and then click on new and change master option and then proceed.
Make sure you have the latest backup of a company.

How can I update the balances in the next financial year if an entry is added in the previous year?

To update the balances in the next financial year if an entry is added in the previous 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 changed masters then Click on start tab and complete the process.

How do I ensure that there are no closing balance mismatches when creating a new financial year in BUSY?

To ensure that there are no closing balance mismatches when creating a new financial year in BUSY, you can check reports such as the Balance Sheet, Closing Trial Balance report, Profit and Loss statement, etc. After reviewing these reports, you can create a new financial year in the company. The closing balances from the previous year will automatically update as the opening balances for the next financial year.

My old bills are not showing party ledger details. How can I update this for previous invoices?

here are the steps:
 Step 1: First, go back to the financial year for which you want to update the old bills
 Step 2: Go to Transaction menu . Open and Modify Invoices
 STep 3: Save the Changes
 Step 4: Carry Forward to Current Year
 Step 5; Now, to make sure these changes are reflected in the current financial year, use the Change FY (Change Financial Year) option.

How do I update to the new financial year in BUSY?.

To update to the new financial year in BUSY you need to follow the steps 
 Step1 Go to administration menu and click on change Financial year option 
 Step2 select the new Financial year from option and OK
 Step3 If you dont want to carry your previous closing balance to new year then check on 
 create new year only option 
 Step4 Click on start button

How to enter and adjust opening balances?

Before making any changes in opening balances of masters we must make sure of given conditions
 Condition 1 The financial year in company should be beginning if there are multiple financial years in comapny
 Condition 2 Or company should be of single financial year
 Condition 3 If any previous year exist in comapny then target or current financial can be splitted from existing compamy for changing opening balances

Why is the companys data only visible until 22-23 and not after that?

To check the multiple years data in BUSY, please follow below steps : 
Step 1: Go to Administration menu.
Step 2: Select Change financial year 
Step 3 : Select particular year which you want to view. 
Step 4 : click on the okay and view the data. 
Note : In the BUSY if you have a single Fy then only you can view the last year data .

What's the process to split the current financial year in BUSY?

In BUSY, to split financial year from company, Follow the steps given below:
 Step 1 : Open BUSY 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 splited from the company