Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
How do I properly record owner contributions and draws in BUSY? I want to make sure I track these transactions correctly.
If you want to properly record owner contributions and draws in BUSY software please follow given below steps:
Step 1: Go to transactions menu
Step 2: Then select a voucher such as journal
Step 3: Then you can pass the journal entry for owner contributions and draws in BUSY
Is there a way to include the returned item in a credit note that was originally issued without an item?
Yes, it is possible to include the returned item in a credit note that was originally issued without an item in BUSY. The entry can be made in the debit note without item section, where the party will be debited and the sales return will be credited.
If a party gives me old money and new money together, how should I make the entry in the BUSY?
If you received old money and new money together from a party, then you can record that entry in single receipt voucher with the total amount. Further if you are maintaining bill references then you can adjust old and new bill references against them you received payment.
How can I add a payment to a vendor and specify if its through cash or bank?
The software never says against whom you are making the payment. You can pass the payment voucher in BUSY.
Step 1: Click on Transaction
Step 2: Then Payment
Step 3: Then Add
DEBIT the party master from whom you are paying the amount and CREDIT the cash or bank account.
I'm having an issue with inventory valuation in BUSY after cancelling some bills. What should I do?
If you cancel or delete bills in BUSY, it can affect your inventory valuation. When you do this, your stock quantity may increase, and the value of your stock (valuation) can change. This is because canceling bills impacts how your inventory is accounted for in the system
How do I debit a person and credit another in the software while making a payment?
You have to pass the payment voucher in BUSY while making a payment.
Pls follow the below steps.
Step 1: Click on transactions and then payment
Step 2: Then Add , here debit the party master from whom you are paying the amount and credit the cash or bank account.
Can you explain the posting process so I understand how amounts are recorded in each transaction?
Yes I can explain the posting process.
It involves recording the finacial day to day transaction in money terms.
Enter the debit and credit amount for each transaction in the appropriate accounts , which then affects the financial statements.
Debit and credit amount should be equal in each transaction.
When creating a credit note against a sales invoice in BUSY, it is showing "not applicable" for GST. How can I apply GST on credit notes?
While creating a credit note against sales invoice in BUSY , In GST nature it shows 3 option :
1: Credit note issued against sale
2: Debit note received against purchase.
3: Not applicable.
You can apply GST by selecting these options as per your convenience.
The loan and current liability sections don't seem to be interacting properly in BUSY. What causes this and how can I fix it?
Here are some common causes and potential solutions to address the problem:
Step 1: Incorrect Account group Configuration.
Step 2: Confirm that the loan transactions are recorded accurately with the correct loan account and relevant details.
Step 3: Review the opening balances for both loan and current liability accounts.
I'm trying to run a dual voucher but it's showing the wrong party name. How can I fix this?
To correct party name go to:
Step 1 : Click on administration
Step 2 : Then master and go to accounts
Step 3 : Select wrong party name and correct it and save
You can modify the voucher by pressing Alt-M and correcting the party name. Then save the changes.