Will changing the financial year affect my data?
If you have made changes in last year then change financial year again so it will affect the current financial year data.
Frequently Asked Questions
Solutions to common issues related to Configurations — Change Fy.
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Step-by-step Answers
Do I need to change the financial year in all my companies or in one?
If you have multiple companies then you need to change the financial year in all the companies after the data backup.
How can I get all the credit notes and historical invoice details to show up properly when the prior year data not show in the current year.
We can check the Debit Note voucher in the last financial Year by switching from Administration then Change Financial Year.
Is it necessary to offer an opening balance for accounts with entries made in the middle of the financial year?
In BUSY, opening balance can update only in Beginning financial year only and you can make entries in any year.
What should I do if an entry is not being shown in the new or current years bill?
As per the accounting standards entries will not carry forward to the new finanacial year only balances will carry forward.
Can you explain how to carry over the balance to the next year?
When you create a new financial year all the closing balance of masters carry forward to the new financial year.
How long does it take to change the financial year in the software?
It is a time taking process to change the financial year in the software, its depends upon the data size.
I am unable to carry forward my input tax credit ITC from the previous financial year to the current year What should I do
Pls Follow the Below Steps :
Step 1: Administration
Step 2: Change Financial Year
Step 3: Click on Carry Pending ITC Option
Is it possible to change the opening balance after the financial year of the company has been split?
Yes, it is possible to change the opening balance after the financial year of the company has been split.
How can I split the data in my company in the middle of the financial year?
In BUSY, you can split the whole financial year from starting not from the middle of the financial year.
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