Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
How to enter receipt and payment vouchers in BUSY
To enter Receipt and Payment vouchers in BUSY, you can follow these steps:
Step 1: Open BUSY and go to the Transaction menu. Click on the Receipt option and select Add.
Step 2: Enter the date and set the GST nature as Not Applicable if you want it to have only an accounting effect. Debit the bank or cash account and credit another account through which the balance of cash or bank is being affected.
Step 3: To enter a payment voucher, go to the Transaction menu, click on the Payment option, and select Add.
Step 4: Enter the date and set the GST nature as Not Applicable if you want it to have only an accounting effect. Credit the bank or cash account and debit another account through which the balance of cash or bank is being affected.
Note: A receipt voucher is used when you receive payment from your customer or any other party. A payment voucher is used when you pay someone either through cash or a bank, such as a supplier or any other party.
I want to apply a payment to multiple invoices in BUSY but it only seems to let me apply to one. What should I do?
While applying payment to multiple invoices or Adjusting multiple invoices in one payment voucher you need to make ensure. Invoice due date, payment voucher date and Bill by bill references is created in invoice or not. To enter Payment voucher, follow the steps:
Step 1: Go to Transactions Menu.
Step 2: Click on Payment voucher option.
Step 3: Choose the add option
Step 4: Enter voucher Header details. Voucher series name, date, type: Regular, PDC.
Step 5: Enter payment voucher body details debit the party and credit the Bank account or cash account.
Step 6: Select party account debit side and enter Amount.
Step 7: after entering amount Bill by bill adjustment of amount window will be open.
Step 8: Select method as adjustment and Choose the invoices or bills you want to adjust in this voucher.
Step 9: Enter narration if required. Click on OK.
Step 10: Enter Inst. Type inst.no. voucher short narration if required
Step 11: Select Credit the Bank account or cash account.
Step 12: Click on Save voucher.
How do I record payments and expenses in BUSY?
For Payment Entry : Which we have to pay for puchasing the Goods. Pls Follow the Below Steps :
Step 1: Transaction
Step 2: Payment
Step 3: Add - We can pass either entry in single mode or dual entry mode.
Expense Through Accounting Voucher : We can pass it through Either from Payment Voucher or from Purchase Voucher.
Pls Follow the Below Steps for Payment Voucher :
Step 1: Transaction
Step 2: Payment
Step 3: Add
Step 4: Select the GST Nature - Registered Expense B2B
Step 5: DEBIT the Expense account , Tax account as per state and CREDIT the Either party and Cash Account.
Expense Through Purchase Voucher : We have to create expense account as an item and pass the purchase voucher.
Pls Follow the Below Steps :
Step 1: Administration
Step 2: Masters
Step 3: Item
Step 4: Add
Step 5: Mention the expense account in Purchase Account.
Step 6: Transaction
Step 7: Purchase
Step 8: Add
Note : In Balance Sheet, Expense entry will show in expense group instead of Purchase and Enable the Option Do Not Maintain Stock Balance in Item Master.
How can i charge TDS on expense while post expense entry in BUSY?
To charge TDS on expense while posting expense entry in BUSY, follow these steps:
1.Enable TDS on expense option in both expense and party account master.
Step 1: Go to administration section then click on master menu.
Step 2: Choose account tab and click on modiy then first, select the expense account
Step 3: A window for tds on expensewill appear, you need to enable the option and specify the tds category in it and save the master.
Step 4: Second, select party account master and enable tds on expense in tds window then save the master.
2.Post expense entry with tds.
Step 1: Go to transaction section then click journal voucher.
Step 2: Choose add tab then mention voucher date, series, voucher number and gst nature in header part of invoice.
Step 3: Now, Post accounting entry for expense then tds calculation window will appear.
Step 4: Click on yes to calculate tds for current voucher then select tds account and click on post.
Step 5: Tds will charge automatically on voucher then save it.
What is the process for adjusting/writing off old outstanding customer balances in BUSY?
To adjust or write off the outstanding balance of old customers, you have two scenarios: either your customer pays the pending balance or they become bad debts. In both cases, you need to follow these steps:
If you received payments from customers then you have to record Receipt Voucher in BUSY by using the following steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Transactions menu.
Step 2: Select Receipt and click on Add, fill all the required details such as Date, Voucher No. , amount, etc and save the voucher.
If your customers become bad debts then you have to record Journal Voucher n BUSY by using the following steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Transactions menu.
Step 2: Select Journal and click on Add, fill all the required details such as Date, Voucher No. ,etc. And Bad Debts account should to debit and party should be credit.
Ensure correct booking of fixed asset transactions in BUSY.
To ensure correct booking of a fixed asset transactions in BUSY you need to follow the Steps
Step1 Go to administration menu and click on master and click to add account then create the
fixed asset ledger name and make group as Fixed asset and save the account
Step2 Click on master and click on item and click to add then create the item name with
same fixed asset name and select its group then fill tax category hasn code and select
specify account of purchse and make it specify here and select the fixed asset account ledger and save
Step3 go to transaction menu and click to add purchase voucher
Step4 select voucher series date voucher number and select sale type then enter the party name
then select the Itc eligibility as Capital goods or service and then select the fixed asset item master fill quantity rate and amount then apply tax and save voucher
How to Generate Purchase return entry not showing in BUSY
To generate Purchase return entry you need to follow the steps
1 Go to transaction menu and click to purchase return and add
2 fill the purchase series date number and purchase type
then add party name and material centre
3 while open the original purchase box mention the invoice number
and date against which you are return
4 fill the item details like item name quantity rate amount then apply
tax and save
if the purchase return voucher not showing in BUSY then it could be
possible the the user you are using its dont have the authority to generate
the voucher so follow the steps to enable it
1 Open BUSY with admin user Id
2 go to administration menu and click on user then click on modiFinancial Year and search
your user name and open then go to menu rights option and allow for Purchase
return voucher and save
3then open BUSY with your user ID and password
How do I generate or cancel a sales/purchase invoice in BUSY?
To create invoices in BUSY you can follow the steps.
Step 1. Open BUSY Software
Step 2. Open company
Step 3. Go to transaction menu click
Step 4. Select that voucher type which you want to create e.g. if you want to create sales then click on sales voucher
Step 5. Click on Add
Step 6. Select series, date, voucher bill no, then fill other details then save the voucher.
your voucher is created.
To cancel invoices in BUSY you can follow the steps.
Step 1. In transaction menu
Step 2. Select that voucher type which you want to cancel e.g. if you want to cancel sales then click on sales voucher
Step 3. Click on modify
Step 4. Then in upper side of the voucher you will get the option of cancel.
Step 5. Click on cancel
Step 6. Specify reason for cancelation and cancel it.
I want to make a partial payment against an invoice in BUSY. How can I do that?
Applying a partial payment to an invoice in BUSY , here are the steps to correctly apply a partial payment:
Step 1 :Open the BUSY software and log in with your credentials.
Step 2 :Navigate to the area of the software where you can access invoices.
Step 3 :Find the invoice for which you want to record a partial payment.
Step 4 :Open the invoice by clicking on it or selecting it from the list. Step 5 :Look for a Paymentor Receive Paymentbutton or option.
Step 6:In the payment section, you should be able to specify the amount of the partial payment you are receiving.
Step 7 :Often, you will see a field where you can allocate or apply the payment to specific invoice items.
Step 8 :Ensure that the payment date is accurate and matches the date when you received the partial payment.
Step 9:Once you've entered the partial payment amount and allocated it to the invoice, save the changes.
I want to delete or cancel an invoice I created incorrectly. How can I do that?
To cancel the invoice that you created incorrectly you can follow the steps
Step1 go to the voucher list and select the voucher and open it in modify mode
Step2 click on cancel button mentioned in the top right corner of voucher module or press Control and X together
Please note that once an invoice is cancelled it would be show under cancel voucher numbering reports under check list menu which is under display menu and if you want then you can active it further but old voucher details could not be visible .
To delete the invoice that you created incorrectly you can follow the steps
Step1 Go to the voucher list and select the voucher and open it in modify mode
Step2 click on delete button mentioned in the top of voucher module or press Function F8 key
Please note that once an invoice is deleted it could not be shown in the list or voucher or in the voucher numbering reports .
