Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
I want to create custom duty expenses in BUSY but Im not sure how Can you help
To record the custom duty expense entry in BUSY, you need to create a custom duty master and a payment or journal voucher. Follow these steps to create the entry:
Step 1: First, go to the Administration menu and click on Masters.
Step 2: Next, select Account click on the Add. This will open the Add Account Master screen.
Step 3: Then, enter the name of the custom duty master and select Expense as the group.
Step 4: After that, go to the Transactions menu and select Payment or Journal and click Add. This will open the Payment or Journal Voucher Entry screen, enter the all necessary details and save the transaction.
How can I correct transactions where GST has been incorrectly exempted or set to %?
To correct the transaction where GST has been incorrectly exempted or set to zero percent
you can follow the steps
Step1 go to transaction menu and click on sales and click on modify then search the voucher
where gst rate entered wrongly
Step2 open the voucher and select the item master and press alter M and modify the tax rate
of item if provided wrong and save then reenter item apply tax and save voucher
Step3 Open the voucher and modify sale type is their is any discripency between item tax rate
mentioned in item master and in voucher are different then save
How do I correct an invoice that has already been sent out to Customers?
To correct an invoice that has already been sent out in BUSY, you can follow these steps:
1. Open the invoice in BUSY.
2. Make the necessary changes to correct the invoice details, such as party name, billing address, or item details.
3. Save the changes.
4. If the invoice has already been printed or emailed, you can reprint or resend the corrected invoice to the customer.
5. It is important to communicate with the customer about the correction and provide them with the updated invoice.
Note: It is recommended to keep a record of the original invoice and any changes made for future reference and audit purposes.
What is the process for correcting a bill that has incorrect taxable amounts?
To correct a bill with incorrect taxable amounts in BUSY, either you can modify that voucher and correct the taxable value or pass debit or credit note voucher. To know how to create them follow the below steps:
Step 1: Go to transactions menu then select debit note or credit note (w/o items) and click on add.
Step 2: After that enter the required details such as date, voucher number, GST nature as against sale or purchase, debit and credit account with amount then save.
Step 3: At the time of saving a window will appear in that you have to mention the original invoice number and other details then save.
How do I handle reversing a payment that posted incorrectly in BUSY?
If you need to modify a voucher, you can follow these simple steps:
Step 1: Go to the Transaction Menu.
Step 2: Click on the payment voucher.
Step 3: Click on the "Modify" option.
If you don't want to modify the same voucher for any reason, you can enter a journal voucher instead. To do this, follow these steps:
Step 1: Go to the Transaction Menu.
Step 2: Click on the journal voucher.
Step 3: Click on the "Add" option.
This will allow you to do a reverse entry of the actual entry.
How do I record payments from customers in BUSY
To record payments from customers in BUSY, follow these steps:
Step 1: Open BUSY.
Step 2: Go to the "Transactionsection & select 'Receipt' vch. & Select 'Add'option.
Step 3: Enter the Receipt details, such as Date, Receipt mode (Cash/Bank), Narration etc.
Step 4: Select the customer for whom you want to record the receipt.
Step 5: Enter appropriate amount received from customer.
Step 6: Choose the appropriate invoice(s) against which the payment is being made by customer.
Step 7: Then Enter further details such as instrument details, short narration & long narration if available etc.
Step 6: Press 'Save' button to Save this voucher.
By following these steps, you will be able to record receipt entry in BUSY.
How can I record non-invoice export transactions like receipt of advance payment in GSTR- through journal vouchers?
To record non-invoice export transactions, like receiving advance payments, in your GSTR-1 report using journal vouchers, follow these steps:
Step 1: Not Possible with Journal Voucher: In BUSY, you can't use a journal voucher to record an advance payment entry and have it automatically show up in your GSTR-1 report.
Step 2: Use Receipt Voucher: Instead, you can enter these details through a receipt voucher. This option allows you to include the information in your GSTR-1 report.
If you have any suggestions or feedback about this, you can reach out by sending an email to support@busy.in. They may be able to provide more information or address your concerns.
What is the right way to account for freight and forwarding charges that are reimbursements in BUSY?
In BUSY, you need to follow the appropriate accounting principles. Here's a general guideline:
Step 1: Create separate ledger accounts for Freight Expenses and Forwarding Charges
Step 2: Record the Original Expenses and pass journal entry
Step 3: Debit: Freight Expenses
Credit: Bank/Cash
Step 4: Create a ledger account for Reimbursements
Step 5: When you receive reimbursement for these charges pass reimbursement entry
Step 6: Debit: Bank/Cash
Credit: Reimbursements
Step 7: Create an adjustment entry to adjust the reimbursement against the original expense.
Step 8: Debit: Reimbursements
Credit: Freight Expenses (for the amount reimbursed)
Credit: Forwarding Charges (for the amount reimbursed)
I am facing issues while recording payment vouchers on BUSY. How can I resolve this?
If you are facing issues while recording payment vouchers on BUSY, there are a few steps you can take to resolve this:
Step 1: Make sure that your are using latest version of BUSY.
Step 2: Check whether the payment window belongs to single entry vocher system or dual voucher system as have to enter transactions accordingly.
Step 3: Ensure that you have selected the appropriate accounts for debit and credit entries.
Step 4: Also check the user rights whether you are making entry with Sub user or Admin/Super User.
Step 5: If the admin had disallowed back date entries then also you cannot modify the payment voucher
How to transfer trial balance profitloss to proprietor account in BUSY
If you have profit in your business and want to transfer that in capital account in BUSY software
Please follow the given steps
Step 1 First check total profit coming in trial balance
Step 2 Create a capital accounts in BUSY software
Step 3 To create a capital accounts go on administration
Step 4 Click on masters
Step 5 Click on accounts
Step 6 Click on ADD
Step 7 Type here capital account name and select group as CAPITAL ACCOUNT
Step 8 Go on Transaction
Step 9 Click on journal and then ADD
Step 10 Create here a entry Profit and loss account debit and Capital account credit
