Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
Generating an invoice for freight and forwarding services only in BUSY. Creating a single invoice for the transaction.
To generate a Freight and Forwwarding services invoice in BUSY you need to
follow the steps
Step1 Go to transaction menu and click on sale and click to add
Step2 fill voucher series date and number and sale type
Step3 select party master then click on item master field and press Fn F3 to create a
Freight and forwarding service
Step4 fill item name as Freight and forwarding charges make unit NA and tax category
as Service tax then fill HSN code and save
Step5 then in voucher fill the service amount and apply tax then save voucher
I am not able to see an entry in BUSY, what could be the reason?.
There could be several reasons why you are not able to see an entry in
BUSY Some possible resons could be
1 The entry may have been deleted or accidently removed from the software
to get it back you have to regenerate it
2 The entry may have been filtered out or hidden due to certain search or
display setting so remove the filter if its enabled
3 The entry may be not approved by the admin user so its not showing
so open BUSY with admin user and approved it from check list option under display menu
My BUSY is not showing the entries I have made, what should I do?.
There could be several reasons why you are not able to see an entry in
BUSY Some possible resons could be
1 The entry may have been deleted or accidently removed from the software
to get it back you have to regenerate it
2 The entry may have been filtered out or hidden due to certain search or
display setting so remove the filter if its enabled
3 The entry may be not approved by the admin user so its not showing
so open BUSY with admin user and approved it from check list option under display menu
How do I properly record a cash withdrawal from my bank in BUSY
To accurately document a cash withdrawal from your bank in BUSY, adhere to these steps:
Step 1: Launch the software and access 'Transaction,' then choose 'Contra Entry' to initiate the withdrawal transaction.
Step 2: Specify the withdrawal date and the amount to be taken out.
Step 3: Opt for the Credit bank account from which the withdrawal is being made.
Step 4: Select the Debit Cash account into which the withdrawal amount will be debited.
Step 5: Include a concise description or reference, such as a cheque number, for the withdrawal.
Step 6: Save the transaction.
Prior to finalizing the record, it's essential to meticulously verify the accuracy of the provided information
When should I use double entry and when single entry booking?
The choice of using single entry or double entry bookkeeping depends on the type and size of your business, as well as your accounting preferences. Here are some general guidelines to help you decide:
Single entry bookkeeping is simple, involves one entry per transaction, and is suitable for small businesses with cash-based accounting. It is easy to set up and maintain, but it does not provide a complete picture of your financial position.
Double entry bookkeeping is more complex, involves two entries per transaction, and is ideal for businesses with complex transactions and accrual-based accounting. It provides a more accurate and balanced view of your business.
How do I enter expenses in BUSY
In BUSY , we can post expense entry either through journal voucher or purchase voucher.
Please find below the steps to post expense entry through journal voucher :
Step 1: Go to transaction
Step 2: Journal voucher
Step 3: Add the voucher
Step 4 : post accounting entry for expense
Please find below the steps to post expense entry through purchase voucher :
Step 1: Go to Transaction
Step 2: Purchase
Step 3: Add voucher
Step 4: Mention required data at voucher entry(Create Item master and tag expense account 'at specify purchase account' in item master.This will allow you to adjust expense amounts in the expense account ledger)
Step 5: Post entry
I made an invoice with % GST but the tax amount is not appearing in the invoice. Why is GST amount not getting calculated automatically?
There could be various reasons why GST amount is not calculating in the invoice in BUSY
to solve the issue follow the steps
1 if you have taken sale type as 12% in voucher then you need to apply tax also to apply
auto calculation of tax in voucher
2 If you have select sale Type 12% but in item master not select the tax category then the tax
will not apply on voucher if you click on apply tax so open the item in modify mode and check
the tax category given properly to calculate tax automatically
Should I use C or D for a specific transaction, such as Receipt, Payment and Journal etc? How do I determine which one is correct?
Yes, you should use C and D in transactions such as receipts, payments, and journals, as it is mandatory to input them. This determination is based on the nature of the accounts used in the transaction, and it operates in the Double Entry System, which records transactions affecting two or more accounts. For every transaction, there are at least two accounts involved: one account is debited, and another account is credited. Follow these three golden rules when performing such transactions:
1. Debit what comes in, Credit what goes out.
2. Debit all expenses and losses, Credit all incomes and gains.
3. Debit the receiver, Credit the giver.
I mistakenly entered the insurance expense voucher without applying GST. How can I rectify this and include the GST amount?
To update Gst in insurance voucher kindly follow below steps:
Step 1: Click on Transaction Menu and then select Journal voucher.
Step 2: Click on Modify & Select the vouche Series & then specify the voucher no which we want to modify
Step 3: In GST Nature Field select register expense B2B from dropdown
Step 4: Debit the Insurance Charge Taxable Amount
Step 5: Debit the Tax Amount input tax as applicable
Step 6: Credit the Insurance Service Provider
Step 7: Click on Save or Press F2
Step 8: While saving we will get option to update GST details, HSN No, Party Details.
I am trying to record a payment but unable to save the voucher. What could be the issue?
You may encounter some difficulties in saving the payment voucher in BUSY. This could happen for various reasons, such as:
1. The debit and credit amounts are not equal, which violates the accounting principle of double-entry bookkeeping.
2. The payment mode is cash, but the warning set of negative cash is don’t allow, which prevents you from saving the voucher if your cash balance is insufficient.
3. The bill reference is not adjusted fully, which means that there is a mismatch between the payment amount and the bill reference amount.
Depending on the error message that appears, there may be other reasons as well.
