Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - master configuration
How can I manage my fixed assets register and depreciation in BUSY?
1.To manage fixed assets in BUSY, you need t follow these steps:
Step 1: Go to Administraion section then click on Master menu
Step 2: Choose the account master then click on add
Step 3: Create the fixed asset master by selecting fixed asset in group and specify the depriciation rate for same.
Step 4: Now, you can post fixed assets sales and purchase entry from journal voucher under transaction section.
2.To post a depreciation entry for fixed assets in BUSY, follow these steps:
Step 1: Got o Display section and click on the Depreciation Chart option.
Step 2: Select the method to post depreciation, you can either select income tax act or company act.
Step 3: Now, choose the depreciation account in its relevant field then press on OK tab
Step 4: Next, You can post depreciation entry by pressing F4 shortcut key.
To update the depreciation rate in fixed assest account, follow these steps:
Step1: Go to administration then click on master menu
Step 2: Choose account option then select modify tab
Step 3: Now, Access the required fixed asset account and define the depreciation rate and save the master.
What all master data needs to be set up properly for accurate GST compliance in BUSY?
For accurate GST compliance in BUSY, you need to set up the following master data correctly:
1. Party Master Data: Enter the details of all parties involved in transactions, such as name, address, GSTIN, state, and registration type (registered, unregistered, etc.).
2. Item Master Data: Item Master Data: Enter the details of all products or services being bought or sold, such as HSN or SAC codes, tax category, etc.
3. Sale / Purchase Type: Select the appropriate type for each sale, purchase, etc. voucher. This will determine the tax rate and the transaction category (local or interstate).
4. Tax Category: Configure the tax rates for different goods and services based on the GST rates.
5. Bill Sundries : Set up the tax bill sundries that can be applied in the vouchers.
6. Unit: Specify the unit for each item and enter the UQC (Unit Quantity Code) for GST reporting in the unit master.
7. State: Set up the state master with the state code for each state. This is required for place of supply in GST billing.
How to maintain stock inventory and valuations?
To Maintain the Stock inventory in BUSY , You can to follow the below steps:
Step 1: Go to administration then click on master menu
Step 2: Choose the item option and click on Add tab to create the item with relevant details like Item name, unit, Item group etc.
Step 3: After creating the item, you can record the stock using dual vouchers such as sales, purchase, sales return, and purchase return. Additionally, you can utilize pure inventory vouchers like challan, stock journal, and production voucher for stock adjustments.
By posting vouchers, the stock can be maintained by entering the quantity received or consumed.
In BUSY, You can configure stock valuation method by follow these steps:
Step 1: Go to administration section then click on Configuration menu
Step 2: Choose the feature and option then select the Inventory tab
Step 3: Now, select the valuation method in Stock Val. Method field displayed at top right of screen.
Step 4: After choose the valuation method, save the configuration window. You stock value will update in stock status report as per valuation method selected in inventory tab.
Why is the freight invoice value getting added to the base product value automatically in BUSY? I want it to be shown separately.
If Freight bill sundry value adjust in sale then it will show in sale value.
For showing Freight value separately you can create new bill sundry or modify existing one if do not use in any voucher.
For modify bill sundry please follow these steps:
1. Take backup of your current data
2. Open company then go in administration
3. Then Go in master then go in bill sundry
4. Then Go in modify and select Freight bill sundry
5. Adjust in sale amount No and specify freight account
6. post over and above yes
7. Adjust in purchase amount No and specify freight account
8. Post over and above yes and save
For create new bill sundry Please follow these steps:
1. Go in master then go in bill sundry
2. click on add mention name,Bill sundry nature and type
3. Tag account in adjust for sale and purchase
4. post over and above yes and save
How to edit masters and follow best practices in BUSY?
If you want to edit Masters in BUSY, you can follow these steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Administration tab and click on Masters.
Step 2: Select Master that you want to edit and click on Modify.
Step 3: After Master window you can edit it as required and save changes.
Make sure to take backup before make any changes.
Some best practices that you should follow when using BUSY for Optimizing are:
1. First Choose the right BUSY edition for your business needs. BUSY offers three editions: Basic, Standard, and Enterprises, with different features.
2. Keep your accounting records accurate and up to date.
3. You should enter your transactions as soon as they occur and reconcile your accounts regularly.
4. You should also review your financial statements and reports periodically and correct any errors or discrepancies.
5. You can use automation features, such as Eway bill & E- Invoice generation, Replication Invoices, Bank Reconciliation, GST Reconciliation etc, to save time and reduce errors.
How do I track inventory for multiple parties in the same company?
If you want to track inventory stock and set alrets of items stock level in BUSY Accounting Software, you can use these steps:
Step 1: You can monitor your inventory and stock levels by using various report options available under the Display menu. You can view the stock status report, inventory books, and inventory summaries for any item, group, or category.
Step 2: To set and alert open you item master in modify mode and Set Y on the option Set Critical Level (Y/N).
Step 3: Enter the Minimum Level (Qty.), Reorder Level (Qty.), and Maximum Level (Qty.) for the item. These are the quantities that will trigger the alert when they are reached or crossed by the item stock.
Step 4: Now, go to Administration tab and click on Configuration.
Step 5: Select the Warning Alarms tab and choose the actions that you want to perform when the critical levels are reached or crossed by any item. You can choose between No Action, Warning Only, or Don’t Allow for each level.
I need help setting up inventory accounts properly. What should I keep in mind?
When setting up inventory accounts in BUSY, there are a few things to keep in mind:
1. Define your inventory items: Clearly define and categorize your inventory items based on their type, such as raw materials, finished goods, or components.
2. Set up stock groups: Create stock groups to organize your inventory items based on common characteristics or categories.
3. Assign stock categories: Assign stock categories to your inventory items to further classify them based on attributes like size, color, or brand.
4. Configure stock valuation method: Choose the appropriate stock valuation method, such as FIFO (First-In-First-Out), LIFO (Last-In-First-Out), or Weighted Average, based on your business requirements and accounting practices.
5. Specify unit of measurement: Define the unit of measurement for each inventory item, such as pieces, kilograms, or liters, to accurately track quantities.
6. Set up pricing: Determine the pricing strategy for your inventory items, whether it's based on cost, market value, or a specific pricing formula.
How do I enable the Challan feature to generate a bill and show GST charges?
We have to enable the Challan feature and can generathe the voucher entry,Please follow below steps:
Step 1: Go to Administration menu and then select submenu Configuration
Step 2: After then select the Features and Options and click on the Inventory tab
Step 3: Here eyou can see option for Enable the Sale Challan Option then On Configuration can restrict as per your need.
Step 6: After saving inventory Confoguration go to Transaction menu.
Step 7: And select Material Issue to party voucher option and click on the Add tab.
Step 8: here you have fill all relavant details and select the Type in voucher as Sales Challan. And Save with all fill up details.
Step 9: While creating a Sales voucher select typoe as Against Challan and fill other details . at the Item Filling Press F11 to pick up the challan from the given window.
Step 10: All details are pickup from the challan and click on the save Button.
How to edit item group names and take backup before making changes?
If you want to change Item Group's Name in BUSY, you can follow these steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Administration tab and click on Masters.
Step 2: Select Item Group and click on Modify. Choose the item group of which you want to change name.
Step 3: After open Item Group Master window you can edit the Name and save changes.
Make sure to take latest backup of your data before make any changes. To do the same can follow these steps:
Step 1: Open BUSY and select "Backup Data" option from Company tab.
Step 2: choose the company that you want to backup.
Step 3: Enter your username and password if required and select the location where you want to save your backup file.
Step 4: Select the financial year that you want to backup, either All F.Y. or Selected F.Y. and click on the OK button to start the backup process.
Why my cash discount not show in discount ledger?
If the cash discount not show in the discount ledger then it may be that the account is not tagged.
If you are using item wise discount follow the below steps for tag account:
Step 1: Go to administration then go to master
Step 2: In master menu go to miscellaneous master and select discount structure
Step 3: Select discount structure and mention Y in account posting other than sale purchase account
Step 4: Then tag cash discount account in account head to post and click on save
If you charge discount in bill sundry follow the below step for tag account:
Step 1: Go to administration then go to master menu
Step 2: In master menu go to bill sundry option
Step 3: In bill sundry click on modify and select bill sundry
Step 4: Mention N in adjust in sale amount and take specify account here
Step 5: Now account head to post option highlight tag cash discount here and save bill sundry .
