Frequently Asked Questions

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

To record the GST expense entry for claiming the input tax credit then follow the below steps.
 Step 1: In the expense account, you have to select the GST Type as GST Applicable then mention the tax category and ITC eligibility.
 Step 2: Click on Transactions
 Step 3: Then Payment or Journal
 Step 4: Then Add
 Step 5: Select the GST Nature as Registered expense B2B 
 Step 6: 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.

For assistance with record entries of puchased assets in BUSY, you can contact us on our 24X7 helpline number: 8282828282 or 011 40964096. You can also email us your query at support@busy.in. 
Furthter, follow these steps to record that entry.
Step 1: Open your company then go to Transaction menu.
Step 2: Select Journal Voucher and click on Add.
Step 3: Enter all the necessary details such as Date, Vch Number, etc.
Step 4: If want to claim ITC (Input Tax Credit) then select GST Nature as Registered Expense B2B otherwise Not Applicable.
Step 5: Next, pass the entry with relevant amount and save the transaction.

The correct accounting entry for expense adjustments in relation to ITC in BUSY depends on the type of adjustment and the nature of the expense. However, a general format of the entry is as follows:
 1. Debit the Expense Account: Debit the account that represents the expense incurred or paid for.
 2. Debit the Input GST Credit Account: Debit the account that captures the Input Tax Credit (ITC) availed on the expense.
 3. Credit the Cash/Bank Account: Credit the account that represents the payment made for the expense.
 You may need to consult an accountant or a CA for further guidance.

To generate a rental invoice in BUSY you should follow the steps 
 Step1 go to transaction menu and click on sale then click to add
 Step2 Fill the voucher series voucher date voucher number and sale type 
 then select the party name 
 Step3 on item selection option press Fn and F3 to create a new item master 
 Step4 create the item name as rental expense and make unit as NA 
 fill its sac code and tax rate must under service percentage 
 Step5 then fill the item amount and apply tax 
 Step6 save the voucher

Credit notes and debit notes have an impact on the taxes like GST in BUSY. They affect the tax liability of the supplier and the input tax credit of the recipient.
When a supplier issues a Credit note to a recipient, it reduces the tax liability of the supplier and the input tax credit(ITC) of the recipient.
When a supplier issues a Debit note to a recipient, it increases the tax liability of the supplier and the input tax credit(ITC) of the recipient.
In BUSY, you can create and manage credit notes and debit notes for your sales and purchase transactions with GST compliance.

To enter a credit memo in BUSY, follow these steps:
 Step 1 : Open BUSY 
 Step 2 : CLick on transactions
 Step 3 :Click on "Credit Note" or "Debit Note" option, depending on the type of credit memo you want to enter.
 Step 4 : Fill in the necessary details such as the customer's name, invoice number, date, and reason for the credit memo.
 Step 5 : Enter the amount of the credit memo and select the appropriate accounts for debit and credit.
 Step 6 : Save the credit memo entry and it will be recorded in the system.

You can record any Booking or payment of business expenses in BUSY. 
 To book the expenses you can follow the steps. 
 Step 1. Open BUSY Software 
 Step 2. Open company 
 Step 3. Go to transaction menu click 
 Step 4. Journal voucher click 
 Step 5. fill date, bill no, enter expense booking entry. 
 For payment of expense you can follow the Steps. 
 Step 1. Go to transaction menu click 
 Step 2. payment voucher click 
 Step 3. click on add 
 Step 4. fill date, bill no, enter payment entry of expense.

To generate sales orders from quotations in BUSY, you need to follow these steps:
Step 1: Create a quotation by entering the necessary details such as customer information, item details, and pricing.
Step 2: Save the quotation.
Step 3: Go to the Sales voucher under transaction menu and select "Add"
Step 4: In the Sales screen, select the customer for whom the quotation was created.
Step 5: Use F11 key on item grid to pick refrence of quotation in order
Step 6: Verify the details and make any necessary changes.
Step 7: Save the sales invoice.
By following these steps, you can generate sales from quotations in BUSY.

To change the rate of an item from GST 12% to GST 18% Then do the below process after the data backup.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Tax Category
Step 4: Then Modify
Step 5: Then select the category of GST 12%
Step 6: Then in Change tax rate window, you have to mention the date from which the GST 18% is applicable. After that mention the tax rate of GST 18%.
Note : If the tax rate have been changed for the some items then you need to create the new tax category and select it in item master.