Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
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.
How do I take a credit note against a previous bill
You can create credit note against a previous bill, please follow the given steps
Where item is coming as sale return
Step 1 Go on transaction
Step 2 Click on Sales return Cr note
Step 3 Click on add and create sale return voucher
Step 4 Mention original sale voucher during enter the sale return voucher
Where item is not coming in return, and want to enter credit note for accounting only
Step 1 Go on administration
Step 2 Click on masters
Step 3 Click on add and create a ledger for the name of credit note and mention sale account in group
Step 4 Go on transaction
Step 5 Click on credit note W/O items
Step 6 Create credit note with the below entry
Credit note account Debit
Party account credit
How do I generate tax invoices as per GST format in BUSY?.
To generate tax invoice as per GST format in BUSY follow the steps
Step1 go to transaction menu and click on sale then click on add
Step2 fill the series name voucher date voucher number and select the sale type as per your requirement
select LGST for local sale and IGST for central
Step3 fill the party name and you need to ensure that party name address gst number must be filled
and gst number must be validated
Step4 fill the item name and you need to ensure that item unit hsn code and tax category have mentioned
properly in item master
Step5 fill item rate and amount then press F4 to to apply tax automatically on voucher then click to save
How do I properly record a debit card payment in BUSY?.
To properly record a debit card payment in BUSY you need to follow the steps
Step1 Go to administration menu and click on configuration then voucher series configuration
Step2 Select voucher type sale and its series then click on voucher configuration
Step3 Enable settlement details option and click to configure
Step4 select first settlement account as cash and create a new account with the name of Debit card
then selet it on second settlement
Step5 Save the settlement details and click on save again
Step6 then go to sale voucher and put all the necessary details and save
Step7 at the time of saving the settlement details box will appear
Step8 adjust debit card for adjustment of invoice and save
How can I do pure accounting and record contra entries in BUSY
To record contra voucher entries for bank-to-bank transfers in BUSY, follow these steps:
1. Open BUSY and go to the voucher entry screen.
2. Select the contra voucher type.
3. Enter the date of the transaction.
4. In the debit column, select the bank account from which the transfer is being made.
5. Enter the amount to be transferred in the debit column.
6. In the credit column, select the bank account to which the transfer is being made.
7. Enter the same amount in the credit column.
8. Provide any additional details or narration if required.
9. Save the voucher entry.
Please note that the specific steps may vary slightly depending on the version of BUSY you are using. It is recommended to refer to the software's user manual or contact their support for detailed instructions.
