Frequently Asked
Questions
Find Solutions to Common Issues Related to features - accounts
How do I reconcile my accounts and generate reports?
BUSY has a Ledger Reconciliation feature that helps you to match your accounts entries with your books. You can use this feature to verify the accuracy and completeness of your accounting records. To use this feature can follow these steps:
Step 1: Open your company, then go to the Administration tab and click on configuration.
Step 2: Select Features / Options and then click on the Accounts tab. Here, you will find the Ledger Reconciliation option. Just click on the checkbox to turn it on.
Step 3: To open your ledger, press ALT+L and choose the account ledger that you want to reconcile.
Step 4: Enter the date range and select Y for Enable Reconciliation.
Step 5: In the report, you can press F4 to reconcile each entry. You can also add remarks if needed.
Further, if you generated any report from BUSY, you can manualy reconcile it with your source.
How do I craete new cost centers in BUSY.
To create the new cost centers you have to first enable the feature and then create the same. Kindly follow the below mentioned steps:
Step 1: Go to administration then click on the configuration.
Step 2: Then open the feature & option then select accounts tab.
Step 3: Check the option of cost center to enable and click on configure.
Step 4: A new window will appear, from which you can check the options as per your requirement.
Step 5: Now click on OK button to save the configuration in window and also click on save button to save from the outside.
Step 6: Now again go to administration then click on masters option.
Step 7: Select the cost center option and then click on add and create the cost center master by adding the name and relevant group.
Step 8: Now you can check the cost center at the time of voucher entry.
My sales return and purchase return are not reflecting in the ledger how to resolved this issue?
If your sales and purchase return are not reflecting in ledger there could be a several reasons of it to resolved it follow these steps:
Step 1: Go to administration menu then click on configuration submenu
Step 2: Then click on features and option then click on accounts tab
Step 3: Then tick the posting in accounts through sales and purchase return to enable it
Step 4: After that save the changes
Step 5: Then open that sales or purchase return voucher from transactions menu that is not showing in ledger
Step 6: Then click on item grid and press enter once and check if you have specify sale account in some other account or not
Step 7: If some other account is tagged you need to correct it and save the master
Step 8: After that take a backup of your data and run regenerate dual vouchers from house keeping menu
How can I reconcile my bank statement in BUSY, and why is the option not visible?
To reconcile bank statement in BUSY , you can follow the below steps:
Step 1: Go to administration and then click on configuration
Step 2: Select the features and option
Step 3: Then click on Accounts tab
Step 3: Now, enable the Bank reconciliation feature
Step 4: Next , Go to display and select the Bank reconciliation option
Step 5: Click on Show all entries
Step 6: Now select you bank account with date range and open the report
Step 7: Finally, the bank report is ready for reconciliation with the bank statement.
Step 8: Press F4 function key to clear the entry , a window will appear to feed clearing date
Step 9: Select Y in clear entry field and mention clearing date as per bank statement .
Note - The bank reconciliation feature becomes blur or hidden once it has been applied.
Why was the category option installed, and what is it for?
In BUSY you can also user Account Category Option, by using this you can create multiple account category you can follow these steps:
Step 1: go to the Administration tab on the top menu bar and click on Configurations.
Step 2: Select Features / Options and click on Accounts.
Step 3: Here you will find a feaure with named Maintain Account Category, jusk click on check box to turn it on and can mention caption as needed.
Step 4: Now, when you create an expense master, you can create Account Category and tag into that master and categorize your expense accordingly.
For Item Category Option, Pls Follow Below Steps:
Step 1: Administration
Step 2: Configuration
Step 3: Features & Options
Step 4: Inventory
Step 5: Enable the Item Category Option
Step 6: Open the Item master
Step 7 : Press F3 & Create Item Category
Step 8: Add it through custom column in inventory Reports
What steps should I follow to reconcile accounts in BUSY?
BUSY has a "Ledger Reconciliation" feature that helps you to match your ledger entries with your books. You can use this feature to verify the accuracy and completeness of your accounting records. To use this feature can follow these steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Administration tab and click on configuration.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Ledger Reconciliation option. Just click on the checkbox to turn it on.
Step 3: To open your ledger, press ALT+L and choose the account ledger that you want to reconcile.
Step 4: Enter the date range for the reconciliation and select Y for Enable Reconciliation.
Step 5: In the report, you can press F4 to reconcile each entry. You can also add remarks if needed.
How to configure multiple currencies and exchange rates in BUSY?
To enable Multi Currency feature in BUSY. follow the steps given below:
Step 1 : Go to Administration, then Configuration, then Features / Options. Click on Accounts
Step 2 : Enable the Multi Currency feature and specify the Currency Con Decimal Places and Save
Step 3 : Go to Administration, then Masters, Add the Alternate Currency ($, £ and € are added by default)
Step 4 : Go to Administration, Open Account Masters and enable Multi Currency option in required masters,
Step 5 : Go to Transactions, Add the Vouchers, Multi Currency window appears in the header, Select the Currency and enter the Exchange Rate details
(This window does not appear if user select the item wise Sales & Purchase Type in Dual Voucher)
Step 6 : Go to Display, then Accounts Books, then Accounts Legder, Click on Account-Wise, Select the MultiCurrency option to view the report.
I want to analyze my accounts receivable aging report. What steps do I need to take?
To analyze your accounts receivable aging report, you need to follow these steps:
Step 1. Access your accounting software or system.
Step 2. Locate the option or menu for generating reports.
Step 3. Look for the accounts receivable aging report or a similar report.
Step 4. Select the desired date range for the report.
Step 5. Run the report to generate the aging analysis.
Step 6. Review the report to analyze the aging of your accounts receivable.
Step 7. Pay attention to the different aging periods, such as 30 days, 60 days, 90 days, etc.
Step 8. Identify any overdue or outstanding invoices.
Step 9. Analyze the total amounts owed by each customer or debtor.
Step 10. Use this information to assess the status of your accounts receivable and take appropriate actions, such as following up on overdue payments or implementing collection strategies.
How can I reconcile multiple vouchers together in BUSY?
BUSY has a "Ledger Reconciliationfeature that helps you to match your ledger entries with your books. You can use this feature to verify the accuracy and completeness of your accounting records. To use this feature can follow these steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Administration tab and click on configuration.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Ledger Reconciliation option. Just click on the checkbox to turn it on.
Step 3: To open your ledger, press ALT+L and choose the account ledger that you want to reconcile.
Step 4: Enter the date range for the reconciliation and select Y for Enable Reconciliation.
Step 5: In the report, you can press F4 to reconcile each entry. You can also add remarks if needed.
How do I handle foreign currency transactions in BUSY?
To handle foreign currency transactions in BUSY, you can use Multi Currency feature.
To set it up you can follow these steps:
Step 1: Go to the Administration tab and click on Configuration.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab.
Step 3: Here, you will find the Multi Currency option. Just click on the checkbox to turn it on.
Step 4: Next, when you create accounts set Y on Multi Currency.
Step 5: Now, you can record sales, purchases, receipts, payments, and other vouchers in any currency and convert them to your base currency automatically according to the conversion rate.
Step 6: You can track reports and statements in any currencies under the Display menu
Step 7: You can also track forex gain or loss due to currency differences & exchange rate fluctuations.
