Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
I want to track payments against invoices in BUSY. What options are available for this?
To track payments against invoice you need to follow the steps
Step1 go to transaction menu and click on receipt then add
Step2 enter voucher series date etc and Credit the party and Debit
the cash or bank
Step3 after the amount given in party master a window will appear
for billing adjustment here you need to select adjustment option
and select the voucher number to which it will be adjust but need to
ensure maintain bill by bill details option enable in party master
Step4 save the voucher
Step5 Go to Display menu and select account books
Step6 select account register standard then sales register
Step6 Select all sale type then all party and select date range
then enable show payment receipt deatils option and press ok
Adding a new service tax rate for a particular invoice in BUSY. Steps to follow for adding a rate.
To add a new service tax rate for a particular invoice in BUSY you need to follow the steaps
Step1 Go to transaction menu and click on sale and click to list
Step2 fill the date range and ok then select the voucher from list and enter to modify
Step3 Select the particular item and press alter M to modify
Step4 after opening the item master go to tax category option and press Fn and F3 to add a
new tax category
Step5 Fill the new tax category name select type as service and in gst rate info option fill
the new tax rates you want to provide and save then save the item also
Step6 in voucher retype the item details and then apply tax to see the effect of changes
I want to track payments against invoices. How can I link payments received to invoices in the system?
To track payments against invoice you need to follow the steps
Step1 go to transaction menu and click on receipt then add
Step2 enter voucher series date etc and Credit the party and Debit
the cash or bank
Step3 after the amount given in party master a window will appear
for billing adjustment here you need to select adjustment option
and select the voucher number to wich it will be adjust but need to
ensure maintain bill by bill details option enable in party master
Step4 save the voucher
Step5 Go to Display menu and select account books
Step6 select account register standard then sales register
Step6 Select all sale type then all party and select date range
then enable show payment receipt deatils option and press ok
Can I enter a receipt first and then do the sale later?
Yes, you can enter a receipt first and create a bill reference number after that create the sales voucher and adjust that bill reference number.
To know how to enable bill reference feature, follow the below steps:
Step 1: Go to administration menu then select configuration sub menu.
Step 2: Select features and options and click on accounts tab.
Step 3: Here, at top you will see an option of bill by bill details. Just tick on that and configure it as required then save.
Step 4: In party's account master you also need to enable maintain bill by bill balancing feature.
Step 5: Further if you want to pay tax on received amount in advance then you should create receipt voucher with advance receipt gst nature and create a reference.
Step 6: After that you need to adjust that reference in the sale voucher.
I am having trouble getting the totals to calculate properly in the sale and purchase entries. The total row is not populating. How can I fix this?
There might be various reason for not calculating total field properly in sale purchase voucher
to troubleshhot the issues follow the steps
1 Go to the spectfic voucher entry and check the tax applied in the voucher and the tax mentioned
in the item master both are same or not if not same then click on item and press alter M and change
tax rate over there and save and recalculate tax again in voucher
2 Check is there any discount applied or not in the voucher if applied then check does it affect on
the sale purchase or any other ledger
3 If there is any bill sundry in the voucher then select it and open in modify mode and check where
the bill sundry ledger affecting on sale purchase or not and modify it accordingly
How to enter reverse charge and TDS transactions?
To record a reverse charge mechanism transaction in BUSY, you need to follow these steps:
Step 1: Open your compnay, then, go to the Transactions menu.
Step 2: Select Journal and click on Add.
Step 3: Enter the required details such as date, voucher no, etc.
Step 4: Select the GST Nature as RCM Expense.
Step 5: Debit the expense head and make sure in the expense head RCM Nature, ITC Eligibility, Tax Category, etc entered correctly.
Step 6: Credit side enter your party head.
Step 7: After enter the voucher you need to consolidate the RCM entry by going the GST Misc. Utilities under the Transaction menu.
Step 8: Then, select Check/Post Consolidated RCM Payable and can select either Monthly Basis or Daily Basis.
Step 9: Now, press F4 for post Consolidated RCM payable voucher.
How do I record receipt and payment voucher entries in BUSY
To record receipt and payment voucher entries in BUSY, follow these steps:
Step 1 :Launch the BUSY and log in to your account.
Step 2 :locate and select the "Receipt Voucher/Payment Voucher option.
Step 3 :Fill in Receipt Details:
In the Receipt Entry form, you need to provide the following information:
Party Name,Receipt Date,Amount,Mode of Payment: Choose the mode of payment (e.g., "Cash,"Bank Transfer,"Cheque,etc.).
Narration.
Step 4 :Within the customer's ledger, you will see a list of outstanding bills or invoices. Identify the bill(s) you want to adjust the payment against.
Step 5 : create a payment entry or adjust against an invoice.
Step 6 :After filling in the payment details and adjusting the payment against the bill(s), save the payment entry.
Step 7 :After saving, you can review the customer's ledger to ensure that the payment has been adjusted against the selected bills."
How do I record payments made to vendors?What options are available for tracking expenses?
If you want to record payment made to vendors in BUSY, you can follow these steps:
Step 1: First, open your company and go to Transaction.
Step 2: Choose the Payment Voucher and click on Add.
Step 3: Fill in the necessary details such as Date, Voucher no., Party, Amount, etc and save the transaction.
If you want to track your expenses in BUSY, you can follow these steps:
Step 1: Open your company, then, go to the Display tab and click on Final Results.
Step 2: Choose the Income & Expenditure A/C option and specify the date range. You will see a report of all the expenses incurred during that period.
Step 3: You can also view the Profit & Loss A/C option from the Final Results. This will show you the breakdown of your expenses into direct and indirect categories.
How to apply discount on IGST in BUSY?.
To apply discount on IGST in BUSY follow the steps
Step1 Go to the transaction menu and select the required voucher type and click on add
Step2 select sale/purchase type as IGST wise tax rate or multirate or itemwise
Step3 If selected Item wise sale purchase type then on the entry module fill the list price of item and apply
discount then simply press enter to apply GST but you need to ensure that the party master should be
from outside of state and item tax rate must be entered in item master field
If you select the sale purchase type as multirate then fill the necessary details and on the bill sundry box
select discount first and then apply tax or press F4 then save the voucher
How do I track expenses in BUSY?
You can efficiently manage your expenses using BUSY. BUSY is a comprehensive accounting software that includes various accounting and inventory vouchers. With its assistance, you can identify economic events, measure them, record them, and generate summary reports. Typically, expenses are recorded using journal vouchers. Below are the steps to capture expenses:
Step 1: Transaction
Step 2: Journal Voucher
Step 3: Add, then enter the date.
Step 4: Specify the GST nature, like registered expenses (B2B), RCM expenses, etc.
Step 5: On the debit side, enter the expense head of the account.
Step 6: On the credit side, enter the party account.
Step 7: If you want to track GST for the transaction, you can charge the respective CGST, SGST, or IGST input tax on the debit side.
For further queries, feel free to contact the centralized BUSY 24/7 support number: 8282828282.
