Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
How do I handle tax calculations and payments?
When you create a company in BUSY and enable the GST / VAT feature, then the default Sale / Pur Type and Tax Categories will be created.
You can use the tax categories while creating items and use the Sale / Pur Type during voucher entry and tax will calculated.
Further, for payments you can record the payment voucher by using these steps:
Step 1: Open your company then go to Transaction menu.
Step 2: Select Payment voucher and click to Add.
Step 3: Enter all the necessary details such as Date, Vch Number, Account, Amount, etc and save the transaction.
I have entered new parties in the system on March 31st and made payment from the bank, but the goods arrived in April. What should I name this entry and how can I show it in the system?
If you have received the goods in some other date then you can maintain the stock updation date feature to reflect the stock in that date.
Please follow the below steps.
Step 1: Click on administration and then configuration
Step 2: Then features and options and choose the inventory tab
Step 3: In the left side, enable the option seperate stock updation date in dual voucher then save it.
Step 4: When you pass the sale or purchase voucher then the stock update date window get open, here you can mention it date in which stock should show in stock status report.
The GST calculation on my freight/forwarding charges does not seem accurate. How can I ensure the software calculates GST properly on these charges?
To ensure correct GST calculation on freight charges,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 freight 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.
If i received a payment from a party that was against a bill of two months ago, how can I enter in BUSY?
You can enter the receipt voucher in BUSY of the date on which you have received payment from a party. Further if you have created a bill reference in that bill, then you can adjust that bill reference in the receipt voucher.
To know how to enter the receipt voucher in BUSY, follow the below steps:
Step 1: Go to transactions menu then select the voucher type as receipt and click on add.
Step 2: Enter the required details such as date, voucher number, credit your party and debit the bank or cash account with the relevant amount then save.
Automatically selecting GST invoice instead of a regular invoice in BUSY. Creating a basic invoice without GST.
To create a Regular invoice instead of GST Invoice you need to follow the steps
Step1 Go to transaction menu and click on sales and click to add
Step2 Fill the series name voucher date Voucher number and click F3 button
to create a new sale Type and fill the sale type name as exempt then select taxation
type as exempt and enable skip in gst reports option and save sale type
Step3 then fill the party name and Fill the item details with quantity rate and amount
and save the voucher
How can I enter fixed assets such as electrical items in BUSY Accounting Software?
To enter fixed assets such as electrical items in BUSY Accounting Software, you need to define a group of fixed assets. Then, you can pass the entry through the general voucher or purchase voucher.
Pls follow the steps for Fixed asset as an item :
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Item
Step 4: Then Add by the name of electrical and select the tax category
Step 5: Go to the option specify purchase account then select the electrical charge account.
Step 6: When you pass the voucher then entry will reflect under fixed asset in the balancesheet.
How do I record an expense payment made by credit card in BUSY
To record an expense payment made by credit card in BUSY, you can follow these steps :
Step 1: Launch the software and access 'Transaction,' then choose 'Payment Entry' to maintain expense transaction.
Step 2: Add new payment voucher, then select require voucher series & select expense date.
Step 3: Choose payment mode as credit card & select require Gst nature.
Step 4: Select necessary details such as Expense account, their amount, short narration & long narration if require.
Step 5: Press 'Save' button to Save the transaction.
By following these steps, you will be able to record payment entry in BUSY.
How can i pass expense entry which ITC is not eligible ?
Here are the steps to pass expense entry which ITC is not eligible :
Step 1: Go to Transaction menu
Step 2: Click on Journal voucher
Step 3: Then click on Add button
Step 4: Then create voucher and select gst nature as Registered expense (B2B)
Step 5: Then pass entry of expense and while saving voucher Registered expense window will appear
Step 6: here you are select ITC eligibility as per your requirement then click on OK button
Step 7: Then save the voucher by click on Save button
How to properly add account and entry for mortgaged assets in BUSY?
To add a mortgaged asset in BUSY, you need to create an account master and then enter
a journal voucher for it in BUSY software. Here are the steps to follow:
Step 1: Go to the Administration menu.
Step 2: Click on the Master option.
Step 3: Select "account" and then click on "Add" option to create an account for the
mortgaged asset with the account group as "Fixed asset."
Step 4: Now, go to the Transaction menu and click on "Journal" and then "Add" option.
Step 5: Add a journal entry, and it will automatically fall in the allocated report.
If I delete a purchase order in BUSY, will it delete the PO reference in linked Purchase vouchers?
You can delete a purchase order in BUSY it will delete the PO reference in linked purchase vouchers.
Aslo you cannot delete the purchase order if it adjusted it purchase invoice to do that, if restriction is set in PO configuration
Method 1
When delete a purchase order and alert show cannot delete po reference unstill it adjusted
Step1: Go to administration and Select the feature and options
Step2: Then click on inventory and find order processing configure.
Step3: And disable the restrict purchase order modification after purchase.
Step4: Save the configuration and then try deleting the Po reference see.