Frequently Asked
Questions
Find Solutions to Common Issues Related to features - accounts
How to configure credit limits, periods, overdues in BUSY?
If you want to set up credit limit for customer/Vendors, credit period and overdue warning, you can follow these steps:
Step 1: First, you need to enable the credit limit feature by going to the Administration tab on the top menu bar and clicking on Configurations.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Credit Limit option. Just click on the checkbox to turn it on and save.
Step 3: Now go back to Administration tab and click on Masters.
Step 4: Under Masters, select Account and then click on Modify. This will open a list of your accounts that you can choose from.
Step 5: Select the account that you want to set up a credit limit and when you resave that a window appears for credit limit you can mention there.
Step 6: Further if your Bill by Bill feature is enabled then in account master you can mention Credit days for Sale / Purchase to set up credit period.
Step 7: You can set up warning for overdues from "Warning Alarms" option under the Configuration tab.
What steps should I follow to set up and manage multiple projects or cost centers in BUSY?
To use Cost Centre feature you need to perform the following steps:
Step 1: Go to Administration menu then click on Configuration option.
Step 2: Now click on Features and options then click on Accounts tab.
Step 3: Go to Administration menu then click on Masters goto Cost center click add cost center then create cost center group by f3 on group and we can only mention opening bal in debit or credit in begining of the year.
Step 4: Goto Account master create new account and after selecting group window will apear of cost center Allocate amount to cost center Y select for yes.
Step 5: Goto transaction and add purchase account while saving window will appear of Allocate amount to cost center select cost center in dropdown and amount and dr/cr bal according to voucher automatic selected you can mention short narration and save voucher.
Step 6:Goto Display and see there is a report of cost center as per your requirement you can see cost center Trail and cost center Ledger and cost center summaries.
How do I handle agreements that offer credit limit and credit days of more than 30 days in the software?
To handle agreements that offer credit periods of more than 30 daysyou can follow these steps:
Step 1: First, you need to enable the credit limit feature by going to the Administration tab on the top menu bar and clicking on Configurations.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Credit Limit option. Just click on the checkbox to turn it on and save.
Step 3: Now go back to Administration tab and click on Masters.
Step 4: Under Masters, select Account and then click on Modify. This will open a list of your accounts that you can choose from.
Step 5: Select the account that you want to set up a credit limit and when you resave that a window appears for credit limit you can mention there.
Step 6: Further if your Bill by Bill feature is enabled then in account master you can mention Credit days for Sale / Purchase to set up credit period.
Step 7: You can set up warning for overdues from Warning Alarms option under the Configuration tab.
How can i setup and manage the cost center feature in BUSY?
1.To setup cost centers feature in BUSY, Follow these steps:
Step 1: Go to Administration section then click on Configuration menu
Step 2: Select features/options and then select accounts tab
Step 3: Enable Cost center feature, Made configuration as per requirement and save the tab.
2.To create the Cost center master, follow these steps:
Step 1: Go to administration then click on Master menu.
Step 2: Select the Cost center option and click on Add to create cost center master.
3.Now, Configure for allocation of amount to cost center in required account master by following these steps:
Step 1: Go to administration then click on Master menu.
Step 2: Select the Account tab then click on Modify option and open the required account master in modify mode.
Step 3: A window will appear while saving account masterfor allocate amount to cost center, Specify Y to enable the option and save the master.
4.You can Allocate the amount of income/expense to the appropriate Cost Centre while entering a voucher.
5.To view the cost center report, you have to go to Display section then click on Cost center report and then select the required report.
How to setup new ledger accounts or cost centers?
1.To setup cost centers feature in BUSY, Follow these steps:
Step 1: Go to Administration section then click on Configuration menu
Step 2: Select features/options and then select accounts tab
Step 3: Enable Cost center feature, Made configuration as per requirement and save the tab.
2.To create the Cost center master, follow these steps:
Step 1: Go to administration then click on Master menu.
Step 2: Select the Cost center option and click on Add to create cost center master.
3.Now, Configure for allocation of amount to cost center in required account master by following these steps:
Step 1: Go to administration then click on Master menu.
Step 2: Select the Account tab then click on Modify option and open the required account master in modify mode.
Step 3: A window will appear while saving account masterfor allocate amount to cost center, Specify Y to enable the option and save the master.
4.You can Allocate the amount of income/expense to the appropriate Cost Centre while entering a voucher.
5.To view the cost center report, you have to go to Display section then click on Cost center report and then select the required report.
How to do post dated cheque entry in BUSY?
If you want to do post dated cheque entry in BUSY please follow below steps:
Step 1: Go to administration menu then click on configuration submenu
Step 2: Then click on features and options tab and click on accounts tab
Step 3: Tick the check box of post dated cheques in payment and receipt voucher to enable it
Step 4: Save the changes
Step 5: Go to transactions menu then click on voucher such as payment and receipt
Step 6: Click on add to add the voucher and specify required fields such as series date and select type as PDC alongwith PDC date
Step 7: Do the entry and save the voucher
Step 8: When your post dated cheque is regularize you need to do the same in BUSY
Step 9: To regularize PDC go to administration menu then click on miscellaneous data entry option
Step 10: Click on regularize PDC and open it as one bank or all as required
Step 11: Specify the date range and open the report
Step 12: Tick the checkbox of those entries you want to regularize and click on regularize option
How to properly adjust UPI payment received and reconcile bank account in BUSY?
If you received payment from UPI you can add receipt voucher by using the below steps:
Step 1: Open BUSY and select the company you want to work with. Then, go to the Transactions menu.
Step 2: Choose the Receipt and click on Add.
Step 3: Fill in the necessary details such as Date, Voucher no., Amount, etc.and save the transation.
To reconcile your bank accounts in BUSY, you can follow these steps:
Step 1: First turn on the Bank Reconciliation feature by using the below steps:
(i) Go to Administration
(ii)Configurations
(iii)Feature/Options
(iv)Accounts.
(v)Here, you can check the box next to Bank Reconciliation
and save.
Step 2: To Reconcile your bank entries follow these steps:
(i) Go to Display tab.
(ii) Select "Bank Reconciliation" option and click on
"Show Uncleared Entries".
(iii) Select your bank account and date range.
(iv) To clear an entry from the report find the entry that you want to
clear. Press F4 on your keyboard to open the clearing window
enter the clearing date as per the statement and click on the OK button.
. How do I assign cost centers to ledger accounts in BUSY?
If you want to allocate cost cetre to ledger in BUSY, you can follow these steps:
Step 1: First, you need to enable the Cost Centres feature by going to the Administration tab on the top menu bar and clicking on Configurations.
Step 2: Under Configurations, select Features / Options and then click on the Accounts tab. Here, you will find the Cost Centres option. Just click on the checkbox to turn it on and configure it as required.
Step 3: Now go back to Administration tab and click on Masters.
Step 4: Select Cost Centre and click on Add. Enter all the details such as Name, Group, etc and save.
Step 4: Next under Masters, select Account and then click on Modify. This will open a list of your accounts that you can choose from.
Step 5: Select the account that for that you want to assign cost centre and when you resave that a window appears for "Allocate Amount to Cost Centres" set it to Y to enable for that account.
Now, when you recording transaction you can allocate cost centres.
How do I setup single/multi-layer accounting in the software?
To maintain single or multi layer accounting in BUSY you can maintain sub ledger feature of BUSY
Find out the steps to maintain sub ledger In BUSY
Step 1 : Go to administration
Step 2 : Then go to Configuration
Step 3 : Then go to features and option
Step 4 : Then go to accounts tab
Step 5 : Then enable maintain sub ledger option
Step 6 : Then first create main account and tag him under general ledger group
Step 7 : Then Create a sub ledger account and tag him under sub ledger group
Step 8 : Then Add transactions using the Sub ledger or General Ledger as per your requirement.
Step 9 : Then you can check sub ledger report also through this steps
Step 10 : Go to display option
Step 11 : Then go to accounts book
Step 12 : Then go to accounts ledger
Step 13 : Then Select sub ledger report and mention the data and check the report
. How do I setup depreciation accounts properly in the software?
If you want to set up depreciation for fixed assets in BUSY, you 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 "Company's Act Depreciation" option. Just click on the checkbox to turn it on.
Step 3: Now, when you create / Modify your Fixed Assets account can mention your depreciation rate according to Income Tax Act or Companies Act as required.
Step 4: For calculate depreciation go to Display menu and click on "Depreciation Chart".
Step 5: Choose the depreciation method that suits your business needs. You can select either the Income Tax Act or the Company’s Act (w.d.v). Then, select the “Depreciation A/C”.
Step 6: The report will show you the depreciation amount for each fixed asset based on the selected method. You can post the depreciation voucher to your accounts by pressing F4 on your keyboard.
