Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
RTE in change Financial Year how to resolved this?
if RTE occurred in changing Financial Year so there is multiple possibilities
1.while create new Financial Year some times because of JUNK characters in master or vouchers error occurred that time you need to remove JUNK characters and then process to create new Financial Year
2.some time error happend while swich Financial Year then close company take a backup of comapny then re-index data of all Financial Year, after that open company and try to switch Financial Year.
3.some times error showing because of heavy data for that update in latest relesae
4. also if you have 8.5 release then sometime RTE 3420 showing so update BUSY in latest relesae .
5. still issue not resolved then send data on support for checking.
How to update the balance of a particular item that was not included in the new and change list during the change financial year?
To update the balance of a particular item that was not included in the new and change list for the current year in BUSY, follow these steps:
Step 1: Take the latest backup of your data.
Step 2: Switch to previous financial year of company through F11 shortcut key.
Step 3: Go to administration then click on master.
Step 4: Select item then choose modify tab
Step 5: Select the relevant master in modify mode and resave the master. After resave the item master will include in new and change master list.
Step 6: Now, go to administration section then click on change financial year.
Step 7:select the financial year then click on yes to carry balance.
Step 8: Select new and change master and start the process.
What is the process for closing the financial year in BUSY?Can I save the report settings for future use?
Before you close an accounting period in BUSY, we suggest you follow these steps:
Step 1: Post a depreciation voucher to calculate the actual value of your fixed assets.
Step 2: Pay off all your liabilities that are due in the current financial year.
Step 3: Review your balance sheet and profit & loss statements and correct any errors if found.
Step 4: Transfer your net profit or loss amount to the capital account.
Step 5: Review your inventory also and pass stock journal or physicall stock voucher if found any discrepencies.
After follow these steps you can create a new financial year.
All the settings will be saved in your database you do not need to save specific settings.
How can i carry forward changed master balance from previous year to current year in BUSY?
To carry forward changed master balance from previous year to current year in BUSY then follow below steps:
Step 1: Take the latest backup of your company
Step 2: In source finanacial year of company go to Administration menu and then click on change financial Year option
Step 3: Select next financial Year and press yes for the option of you are going to change financial Year do you want to carry forward balances
Step 4: After select new and changed master If you want carry forward only those master in which you have made changes then press ok
Step 5: Now press start to change financial year It will take time, After that a confirmation will appear on your screen choose ok.
What should I do if I have made a mistake in closing and need to add an entry?
For add a entry in last year,please follow below steps :
Step 1: Go to last year to use button switch year F11.
Step 2: Do the changes as your requirement in the last year to manage the closing.
Step 3: After finalize the changes go to house keeping menu and run the Update master balance .
Step 4: After finalization of Balance Sheet in relevant previous year go to Administration tab.
Step 5: At the bottom of the administration menu change financial year and select relevant year
Step 6: 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
Why is my one account balance different from the last year to this year?
If your one account balance is different from the last year to this year then might be you had made modifications in las year entries of that account. To resolve this, follow the below steps:
Step 1: Open your company in last year then go to Administration menu.
Step 2: After that select Masters and choose Account then click to Modify.
Step 3: Select that party ledger and resave it by pressing enter.
Step 4: Now, go to Administration menu then click on Change Financial Year.
Step 5: Then choose the next financial year to change.
Step 6: Select Yes on carry balances window and can choose the New and Changed Masters option.
Step 7: Click on Start button and check after complete the process.
Can stock items be carried forward to the new year without splitting the company?
Yes,if company is not spilited and want to carry forward item in new then you need to follow some step:
Step 1: Go to the Administration and then click on Change Financial option.
Step 2: Now select the Previous year if you are in new year and change the financial year or Use F11 short cut key to change Financial.
Step 3: Now Go to the Administration and then click on Change Financial option.
Step 4: Now select the Financial in which you want carry forward the item master.
Step 5: Now select Yes option for carry forward the balance and then select New and change or All master option for carry forward the item master.
Step 6: Now select the start option.
When I change financial years in BUSY, all previous year data gets copied to the current year. How can I avoid this and maintain correct data for each financial year?
To avoid copying previous year data when changing financial years in BUSY there have to option.
option one: Take backup of full data and you can split the data and make the opening balance zero.
option two: Use option Create New Year only don’t carry balances.
Step 1: Take Full Backup.
Step 2: Go to Administration Menu.
Step 3: Click on Change Financial Year option.
Step 4: Click on New Year from 01-04-2024. Or any new year.
Step 5: Create New Year window will be open.
Step 6: If you don’t want to carry previous year data to next year select option Create New Year Only don’t carry balances.
I am having trouble adding the opening balance for a party from the previous year. Can you guide me through the process?
To add the opening balance for a party from the previous year in BUSY, you need to split the current financial year and add the opening balance in the account master. If the previous financial year exists within the company, then you will not be able to modify or update the opening balance of the account master, in this case, you have to split the current financial year.
To split financial year 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.
I think some transactions or entries are missing from previous years. What is the process to restore missing data?
There could be several reasons for a mismatch in the closing of the last year and the opening in the current year. You can follow these steps to check this:
Step 1: Take a backup of your data. Then open the last year and in the Housekeeping Menu, check for junk characters and incomplete vouchers. If found, clear them.
Step 2: Run the Update Master Balance process.
Step 3: Go to Administration, change the financial year, and then click on your current year.
Step 4: Click Yes to carry forward the balances. If the data size is small, click on All Masters. If the data size is big, click New and change masters.
Step 5: Check the balance of your masters.
