Frequently Asked
Questions
Find Solutions to Common Issues Related to configurations - voucher entry accounting
How do I record advances paid and received to parties in BUSY? It is not allowing me to do this.
To record advance payment or received entries in BUSY you need to follow the steps
1 Go to transaction menu click on payment or receipt then click to add
2 fill the series name date voucher number then select the mode of payment or
received and select the party name and amount then save the voucher
If you are not getting allowed to generate voucher then it could be possible that your
user ID dont have the rights to generate payment or receipt voucher to resolve the issue
open company with admin user then go to administration menu and click on user then click
to modify and give the user rights of adding payment receipt voucher from menu rights
How can I differentiate between items purchased through purchase and those added as expenses, capital?
In BUSY Accounting software, items purchased through purchase will be recorded in the purchase ledger, while items added as expenses or capital goods will be recorded in the expense ledger and Capital acount which you need to tag in the item master.
Pls follow the below steps to tag the fixed asset and expense account in the item.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Item
Step 4: Then Add by the name of fixed asset or expense and select the tax category
Step 5: Go to the option specify purchase account then select the fixed asset or expense account.
Step 6: When you pass the voucher then entry will reflect under fixed asset or expense accountin the balancesheet.
How can I apply the credit note to the correct invoice if I'm unable to find the option?
To apply a credit note to the correct invoice in BUSY, you can follow these steps:
Step 1 : Click on transactions
Step 2 : Credit note
Step 3 : Add
Step 4 : Select the option for Credit Note against Sales or Credit Note against Purchase depending on the type of credit note you have.
Step 5 : Enter the necessary details such as the party name, credit note number, and date.
Step 6 : In the Original Invoice Number field, enter the invoice number to which you want to apply the credit note.
Step 7 : Enter the amount of the credit note and any applicable taxes.
Step 8 : Save the entry.
I have to post entries daily in BUSY. Is there a way to automate or schedule this?
Yes you can post automatic or schedule entry on daily basis in BUSY
Follow the steps to do the automatic entry
Step1 Go to administration and click on Bulk Updation
Step2 click on set a voucher template and select voucher type as per your requirement then
click to show voucher list and select a voucher from list which you want to do on daily basis
Step3 then create a template name and save
Step4 Click on voucher replication and select single voucher in different date
Step5 select voucher type and template and select the basis of replication as daily
Step6 select start date and end date then replicate
I need to record a loan transaction in BUSY. What is the proper way to handle loans in the software?
To record a loan transaction in BUSY, you can follow these steps:
1. Set up a loan account: Go to the "Accounts" menu and select "Ledgers." Create a new ledger for the loan account.
2. Record the loan disbursement: Go to the "Vouchers" menu and select "Payment Voucher." Enter the loan amount as a payment to the loan account.
3. Record loan repayments: Go to the "Vouchers" menu and select "Receipt Voucher." Enter the repayment amount as a receipt from the borrower.
4. Track interest payments: If applicable, create a separate ledger for interest payments and record them as receipts in the Receipt Voucher.
By following these steps, you can properly handle loans in BUSY.
How can I enter the purchase entry for a newly bought machine?
To enter the purchase entry for a newly bought machine in BUSY, you need to follow these steps:
Step 1: First add machine account by going to administration menu then select masters.
Step 2: Select account option then click on add and enter the required details such as name, group should be fixed assets and if GST applicable then configure it and save.
Step 3: Now, go to transactions menu then select journal voucher and click on add.
Step 4: If tax applicable then select GST nature as registered expense B2B and debit the machine and tax accounts.
Step 5: Credit the party with relevant amount then save and enter the required details in registered expense window and save.
Step 4:
How do I record advances paid and received under GST in BUSY?.
To record advances paid and received under GST in BUSY, please follow these steps:
1. Navigate to the Transaction menu and select either Payment or Receipt based on the type of entry required.
2. It is recommended to choose CGST and SGST in the debit section during a payment entry and evenly distribute the amount.
3. Credit the bank account from which the payment was made.
4. In the case of a GST refund, create an entry in the receipt voucher. Credit the relevant GST account, and debit the bank account where the refund is received.
Following these steps will enable you to accurately record advance payments and GST receipts in your BUSY
How do I record expenses and payments?
To record/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. Go to journal voucher click
Step 5. Select series, date, bill no, and gst nature
Step 6. Pass entry to book the expense.
Step 7. Save the voucher.
To pass the entry of payment you can follow the steps
Step 1. In transaction menu
Step 2. Payment voucher click
Step 3. Select series, date, bill no, and gst nature
Step 4. Pass entry to make payment.
Step 5. Then save the voucher of payment.
How to delete entries in BUSY?.
To delete entries in BUSY you need to follow the steps
Step1 open company and go to transaction menu
Step2 select the voucher type and go to list of voucher
Step3 select voucher and open it in modify mode and press F8 to delete or click on delete button on the
top of voucher module screen or you can select the voucher from list of voucher and press F8 to delete
Step4 if you want to delete vouchers in bulk you can select the batch deletion option by pressing the
shortcut key alter control shift D together then select the voucher type and date range and click ok
Is it possible to make adjustments in invoices, and if so, can I see an example of such an adjusted invoice?
Yes, it is possible to make adjustments in invoices in BUSY,please follow below steps:
Step 1: Go to the Administration tab and click on configuration.
Step 2: Select Features and Options and click on Accounts. Here you will a feature of Bill-by-Bill Details click on the check box to turn on that and save the configuration.
Step 3: Open your party's master and set Y on Maintain Bill By Bill Balancing and save.
Step 4: Now, at the time of voucher entry such as sale, purchase etc a window will appear for creating and Adjusting Bill references.
Step 5: You can view Bills Receivable report for track outstanding from Display menu and click on Outstanding Analysis.
