Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - change fy
Can I enter the opening if the last year exists?
No, if the previous financial year exist in company then we cannot enter the opening balance of any master manually. Previous closing balance of master will only update as opening balance in current year.
I need help understanding the data flow between financial years.
Data flow between financial years is the movement of financial data from one financial year to another. In BUSY, you can maintain multiple financial years in a company and compare your data year wise.
Bank Pending Entries not C/f in New Year
If Want to Transfer last Year Closing Uncleare Closing Balance See the following Steps
Step1: Go To Adminisration
Step2: Click on Changes Financial Year
Step3: Click on Carry Bank Reconcilation Entries to Financial Year01-04 Current Year
How to change Financial Year in BUSY.
To change Financial Year in BUSY you can press F11 key or follow below steps:
Step 1: Take a latest backup of the data.
Step 2: Go to administration menu and select change Financial Year option.
is it possible to carry forward the balance of multiple previous financial year together or do i have to carry forward one by one?
No, it is not possible to carry forward balance of multiple previous financial year in single command. Further, you need to carry forward balance from previous year to next year one by one.
How long does it take to carry forward balances if there are a large number of bulk entries?
Change financial year process with carry forward balance option will take time as per the data size. Further, Once you start the change financial year process, it is recommended to complete the process.
How should I proceed if I have multiple parties with different balances in the previous year?
If you have multiple parties with different balances in the previous year then you can proceed for creating new financial year and all the closing balance of parties will update as opening balance.
Why is the software suggesting to start new financial year from 1st April 2023?
The software is suggesting to start new financial year from 2023 because the current financial year has been set from April 2022. Therefore the new financial year is satrting from 1st april 2023.
Is there any way to speed up the process of carrying forward balances?
Change financial year process with carry forward balance option will take time as per the data size. Further, Once you start the change financial year process, it is recommended to complete the process.
How is the opening balance calculated in BUSY from year to year?
The opening balance in BUSY is carryforward from the previous year, it means your closing balance at the end of previous financial year will be treated as opening balance of new financial year