Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
What is the process to show the GST expense in the journal voucher?
To record the GST expense entry through journal voucher then follow the below steps.
Step 1: Click on Administration and Then Masters
Step 2: Then Modify and Select the expense account, Here you have to choose the GST Type as GST Applicable from the dropdown then mention the tax category and ITC eligibility.
Step 3: Click on Transactions and Then Journal
Step 4: Then Add and Select the GST Nature as Registered expense B2B
Step 5: DEBIT the expense account, GST input account and CREDIT the cash or party account and when you save the voucher then window will popup where shows mention the details and save it.
What is the correct way to enter fixed asset acquisition entries in BUSY
For enterng fixed asset acquisition entries in BUSY first create fixed assets ledger, or master. Please follow below mention steps for asset creation:-
Step 1:- Administration Tab
Step 2:- Masters
Step 3:- Account
Step 4:- Add, enter name of fixed asset in group master select fixed asset. A window appears enter depreciation rate of asset then save details of asset.
After creation on asset in BUSY 2 ways to do entry of fixed asset acquisition through Purchase voucher, Or through Journal voucher. Debiit fixed asset against of vendor from whom asset is purchased with respective amounts.
Recommendation:- We recommend you for accounting entries please concern with your CA, or accountant.
How can we do the billing and print invoices in BUSY?
In BUSY, We can create Dual Voucher, Accounting Voucher and Pure Inventory Voucher.
Dual Voucher : Here Accounting and Inventory both get hit. Vouchers which are Sales, Purchase, Sales Return and Purchase Return.
Accounting Voucher : It refers to where only Accounting get hit. Vouchers which are Payment, Receipt, Journal,Contra, Debit and Credit note without Items.
Pure Inventory Voucher : It refers to where Only Inventory get hit. Vouchers which Matrial issue to party, Material Receive from Party, Stock Journal, Stock Transfer, Production and Unassemble.
For printing, When we save voucher then can print it or export it as per our requirement.
The tax amounts are not calculating properly on some bills that include freight charges. What should I check to resolve this?
If the tax amounts are not calculating properly on some bills that include freight charges then
you should follow the steps
Step1 Go to transaction menu Click on sales and modify then search the invoice
Step2 open the invoice and ensure that freight charges bill sundry is applied before tax and in bill
sundry master its selected Taxable amount
Step3 if freight charges applied in voucher as item master then open item master in modify mode
and check its tax catery given properly if not then modify it and save then in voucher apply tax and save voucher
When I try to make a sale from my Delhi branch for a Chennai-based customer in BUSY, I get an error about interstate sales. What does this mean and how can I process the sale?
Here are some steps you can take to process an interstate sale in BUSY and address the error:
Step 1: Ensure that both your Delhi branch and the Chennai-based customer are registered under GST.
Step 2 : When creating the sales voucher in BUSY, make sure to select the correct GST rate for interstate sales.
Step 3: Ensure that you generate the E-way Bill for the goods being transported from your Delhi branch to the Chennai-based customer.
Step 4: In the sales voucher, specify the correct place of supply.
Step 5: Double-check that the state codes for Delhi and Chennai are accurately entered in the system.
I am trying to add reverse charge in my sales invoice but am unable to do so. How can I add reverse charge to a sales invoice in BUSY?
To enter reverse charge in sale invoice we need follow below steps:
1. Click on transaction menu & select sales voucher
2. Click on add & enter voucher series and voucher number.
3. Select sales type and create new sale type by F3 command.
4. Took taxation type as reverse charge & select region as local then press save command by F2.
5. Enter item details with quantity and amount.
6. Press F2 for save voucher.
7. Go to display menu > GST report>GSTR1 return>select date range>Check that voucher shows in reverse chagre section.
What should I do if I mistakenly enter an item in a voucher and have already used it in other vouchers as well?
If I mistakenly enter an item in a voucher and have already used it in other vouchers as well,to using F9 key delete items from a bill of sale with multiple items and different tax rates in BUSY , please follow below steps:
Step 1: Go to transation menu.
Step 2: Select particular vaoucher types like sale or Purchase.
Step 3: Click on sale/ Purchase.
Step 4: select Modify option.
Step 5: entrer Voucher No and Date.
Step 6: select the field which you want delete or remove
Step 7: Then press F9 key and hide the row .
Step 8: And save the changes.
I am unable to calculate interest on capital for partners in BUSY. How can I do this manually?
If you want to maintain Interest on Capital in BUSY, you have to do it manually by passing a journal entry. Here are the steps to do it:
Step 1: Go to Administration, then click on Master and select the Account Add option.
Step 2: Create a master of Interest on Capital and define the Group as Indirect Expense.
Step 3: Then go to the Transaction menu and click on Journal, then Add. After defining voucher header details, pass a journal entry in which you debit the Interest on Capital account and credit the Capital account.
In the final report, it will show the impact accordingly.
Is there a way to pass payment entries on previous year date without change financial year?
No, you cannot pass payment entries in previous year without change financial year to previous year. Further, you need to switch financial year by follow the below steps:
Step 1: Go to administration section then click on change financial yeat.
Step 2: Choose the previous year then click on yes to switch the financial year.
Step 3: After switch, Go to transaction section then click on payment voucher and select add tab.
Step 4: Now, Specify the voucher number, series, date, gst nature in header part of invoice then post the accounting entry for payment.
Step 5: After post the accounting entry, you can save the voucher.
What is the right way to book hotel expenses where the ITC is not eligible?
To book hotel expenses where ITC not eligible then follow the given steps :
Step 1: Go to Transaction menu
Step 2: Click on Voucher option
Step 3: Then click on Journal voucher
Step 4: Then click on ADD button
Step 5: Then create voucher and select Registered Expense (B2B) in the field of Gst nature
Step 6: Then after specify entry, click on Save button
Step 7: Then Registered expense window will appear
Step 8: here you are specify ITC eligibility as per your business or entry
Step 9: Then save the voucher
