Frequently Asked
Questions

Q: How do I record profit sharing for a subbranch partner in BUSY

Pls Follow the Below Steps : Step 1: Create Account from Masters Under Administration with Capital Account Group. Step 2: Pass the Profit Sharing Journal Entry with the Capital Account from Transactions Menu.

Q: What is the steps to enter bills and expenses in BUSY ?

To record bills and expenses transactions, we have to go to : Step 1 : Transactions Step 2 : Jounrla Step 3 : Add Step 4 : Select expense account and add entry

Q: How to handle GST nature when making a payment to a supplier?

When making a payment to a supplier in BUSY, you need to select the GST nature as not applicable because when making payment to supplier there no need to charge GST.

Q: I made a purchase entry but it is showing double entries in the day book. Why is it showing debit and credit for the same transaction?

The double entry in the day book is because it follows a double-entry accounting system where every transaction is recorded twice, once as a debit and once as a credit.

Q: I made a payment entry in the wrong month. How can I move or adjust the entry to the correct month?

To move the payment entry to the correct month, you need to open the payment voucher in modify mode then enter the correct voucher date and save the payment voucher.

Q: I am unable to find the credit/debit note option under the correct menu in BUSY. Where is this option located?

To locate credit note debit note, go to: Step 1 : Click on transactions Step 2 : Must have user rights to access Step 3 : Debit note credit note

Q: I need to enter a voluntary payment of GST DRC in BUSY. What will be the accounting entry for this?

To record a voluntary payment of GST in BUSY, you can create a new account master and enter the corresponding accounting entry in the journal voucher from the transaction tab.

Q: What is the process to adjust sales or tax amounts for a month where the return is already filed?

To make adjustments to sales or tax amounts for a previously filed return, it's necessary to create a journal entry or issue a credit/debit note for correction in the invoice.

Q: I have multiple material centers in BUSY Do I adjust the profits for each one before transferring to capital

No, In BUSY there is no provision to adjust profit material centre wise. You have to transfer the entire profit to the capital account at the end of the year.

Q: I am getting cash shorts in my accounting. Why is this happening and how can I fix it?

Cash shorts in accounting can happen due to various reasons. Below are some reasons: 1. Errors in recording transactions; forgot to record the transaction 2. While transaction entry entered the wrong value,

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How do I record profit sharing for a subbranch partner in BUSY

Pls Follow the Below Steps :
Step 1: Create Account from Masters Under Administration with Capital Account Group.
Step 2: Pass the Profit Sharing Journal Entry with the Capital Account from Transactions Menu.

What is the steps to enter bills and expenses in BUSY ?

To record bills and expenses transactions, we have to go to :
Step 1 : Transactions
Step 2 : Jounrla 
Step 3 : Add 
Step 4 : Select expense account and add entry

How to handle GST nature when making a payment to a supplier?

When making a payment to a supplier in BUSY, you need to select the GST nature as not applicable because when making payment to supplier there no need to charge GST.

I made a purchase entry but it is showing double entries in the day book. Why is it showing debit and credit for the same transaction?

The double entry in the day book is because it follows a double-entry accounting system where every transaction is recorded twice, once as a debit and once as a credit.

I made a payment entry in the wrong month. How can I move or adjust the entry to the correct month?

To move the payment entry to the correct month, you need to open the payment voucher in modify mode then enter the correct voucher date and save the payment voucher.

I am unable to find the credit/debit note option under the correct menu in BUSY. Where is this option located?

To locate credit note debit note, go to:
 Step 1 : Click on transactions
 Step 2 : Must have user rights to access
 Step 3 : Debit note credit note

I need to enter a voluntary payment of GST DRC in BUSY. What will be the accounting entry for this?

To record a voluntary payment of GST in BUSY, you can create a new account master and enter the corresponding accounting entry in the journal voucher from the transaction tab.

What is the process to adjust sales or tax amounts for a month where the return is already filed?

To make adjustments to sales or tax amounts for a previously filed return, it's necessary to create a journal entry or issue a credit/debit note for correction in the invoice.

I have multiple material centers in BUSY Do I adjust the profits for each one before transferring to capital

No, In BUSY there is no provision to adjust profit material centre wise. You have to transfer the entire profit to the capital account at the end of the year.

I am getting cash shorts in my accounting. Why is this happening and how can I fix it?

Cash shorts in accounting can happen due to various reasons. Below are some reasons:
1. Errors in recording transactions; forgot to record the transaction
2. While transaction entry entered the wrong value,

Frequently AskedQuestions