Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - balance sheet
Why am I unable to generate financial reports in BUSY? How can I resolve this?
If you are unable to generate financial reports in BUSY please follow these steps:
Step 1: Make sure that the date you are specifying while opening the report belongs to the current financial year
Step 2: Make sure you are checking correct report
Step 3: Make sure transactions existance is available in the company or not
Step 4: Make sure you have specific rights to view the report if you are logged in with subuser
If above mentioned steps are followed then open the report by following these steps:
Step 1: Go to display menu
Step 2: Then click on final results
Step 3: Afterwards you can view the financial reports such as balance sheet and profit and loss etc
Incorrect totals or amounts on BUSY invoices. How to troubleshoot and resolve?
To troubleshoot and resolve incorrect totals or amounts on BUSY invoices, you can follow these Steps:
Step 1 : Double-check the calculations: Review the calculations for each line item and ensure they are accurate.
Step 2 : Verify the data entered: Make sure that the data entered, such as quantities and prices, are correct.
Step 3 : Check the tax settings: Ensure that the tax rates and settings are properly configured in the software.
Step 4 : Update the software: Make sure you are using the latest version of BUSY, as updates often include bug fixes and improvements.
If still issue facing , you can you can contact to our support helpline no i.e. 8282828282 or 40964096 or also can email us at support@busy.in
When I try to generate financial reports in BUSY, I get an error saying 'data mismatch'. How can I fix this?
If data mismatch is showing in the Financial report, then check the below steps.
Step 1: After data backup,you have to run the update master balance from the house keeping.
Step 2: If mismatch is showing for the opening balance then you have to check the report opening trial mismatch from previous year and correct it by doing the update master balance process in the last year and then change the financial year with all masters from administration.
Step 3: If still mismatch is coming then need to open the financial report in the short range. You will get a particular date from which mismatch was coming then check the day book and correct the entry.
Why am I unable to generate a profit and loss statement or balance sheet? It shows an error.
If you are unable to generate a profit and loss statement or balance sheet and it shows an error, there could be several reasons for this issue. Some possible reasons include incorrect data entry, missing or incomplete information, software compatibility issues, or technical errors. To troubleshoot this problem, you can try the following steps:
1. Double-check your data entry to ensure accuracy.
2. Make sure all necessary information is included and up-to-date.
3. Verify that your software is compatible with generating financial statements.
4. Restart the software or try generating the reports on a different device.
5. Contact customer support for the accounting software you are using to get further assistance in resolving the error.
What steps should I follow to generate detailed Final reports in BUSY?
To check final reprts in BUSY Accounitng Software you can follow these steps:
Step 1:Go to the Display menu,
Step 2:click Final result,
Step 3:Here isa options to Generate Reports as Balance Sheet,Profit and Loss,Payment and Reciept A/c,Income and Expenditure
A/c.
Step 4:Here,if you want to check the balance sheet, click on Balance Sheet.you will also see horizontal and vertical
reports,Open as per your choice,select starting Date and Ending Date,if you wants to see second level of balance sheet then specify Y,Then click ok,now you can check your balance sheet here.
Step 5:You can check the other reports like Profit and loss,payment and reciept in the same way.
Some figures are displaying under the wrong sections in my financial statements. How can I fix this?
If some figures are displaying under the wrong sections in my financial statements. To fix this issue you need to change Account Group as per sections and regenerate financial statements.
Step 1: Identify the Incorrectly Classified Figures: Review the financial statements and identify any figures that are displaying under the wrong sections or account groups.
Step 2: Update Account Group as per Sections: Modify the account group in BUSY and ensure that each account is assigned to the correct group based on the applicable financial statement section.
Step 3: Regenerate Financial Statements: After updating the account group classifications, regenerate the financial statements. This ensures that the corrected account groupings are reflected in the statements.
Why can't I generate financial reports in BUSY?
You may face some problems in generating the financial reports in BUSY. This could be due to one or more of the following reasons:
1. You have incomplete vouchers in your database, which means that some vouchers are not posted properly.
2. You have junk characters in your database, which are invalid or corrupted data that can affect the accuracy of the reports.
3. You have not updated the balances properly, which means that the ledger and trial balance are not in sync with the vouchers.
4. You have opened the report with the wrong date range and filter options, which can exclude some transactions or show incorrect results.
How can I view different tax categories separately in the P&L statement in BUSY?
You can view the tax category wise sales and purchase in the profit and loss account.
Pls follow the below steps :
Step 1: Create the sales and puchase account by tax rate name under account group sales and purchase.
Step 2: Open the sale/purc type of single rate and then specify the created tax rate account. For multi rate sale/purc type, click on the option specify here for seperate account of different tax rate and mention the tax rate accounts and save it.
Step 3: When you apply the sale/purc type in the voucher after that will show tax rate wise in the profit and loss account.
How can I resolve issues with transactions not appearing on financial statements in BUSY?
When some transaction are not showing in the financial reports,then pls check the below steps :
Step 1: Make sure that the accounts which is used the in the voucher is properly tag in the correct account group. As according to the account group, its shows in the financial report.
Step 2: Open that transaction and resave it as sometimes get refresh and shows in the financial report.
Step 4: Check the approval rights, if voucher is unapproved then will not reflect it.
Step 3: If the voucher entries are correct but still showing then after data backup, run the dual voucher option from housekeeping.
How can I update the closing stock balance manually in the balancesheet?
In the Balance sheet, you can update the closing stock balance manually month wise.
Please follow the below steps.
Step 1: Click on Administration and then Configurations
Step 2: Then Features and Options and Accounts
Step 3: There will be an option Balance sheet stock updation select value as Manually from dropdown list and save it.
Step 4: Go to the Display menu and sub menu Final results then select the Balance sheet horizontal option.Here mention the date range and open the report.
Step 5: Then put the cursor on closing stock cell and press enter on it. Now change the balance manually as per your stock value on monthly basis.
