Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - balance sheet
How can I resolve if the amount showing on enter mismatch in the Balance sheet?
To resolve the on enter mismatch amount issue, follow these steps:
Step 1: Take the latest backup of the data.
Step 2: Go to housekeeping section then click on update master balance.
Step 3: Click on Ok tab and complete the process.
How do I access and run financial statements in BUSY?
You can access the financial reports in the BUSY.
Pls follow the below steps :
Step 1: Click on display menu
Step 2: Then Final results
Step 3: Then can view Balancehsheet, Profit and Loss Accoun and Trial Balance.
Why is the profit for the period only showing opening and closing stock, with no purchase, sale, income or expenses?
The profit only shows opening and closing stock because the difference between the two is reflected in the stock and helps to balance the accounts.
And if no purchase, sale, income, or expense transaction is available, it can happen.
How can I resolve issues with BUSY's balance sheet not allowing direct edits?
Balancesheet is a summarized report which contains the data related to the accounting and Inventory transaction which we have entered in BUSY. We have to open the masters and the transaction of the which we want to edit.
How can I fix errors or any mismatch in my final records?
To fix errors or any mismatch in your final records in BUSY, you should review all financial transactions to ensure they are accurately recorded and classified. Verify that there are no errors or discrepancies in your accounting records.
Can I directly upload ITR and Balance Sheets on BUSY?
There is no provision in BUSY to upload ITR you have to visit Income tax portal for that further balance sheet auto generate in BUSY as per your feeded data no need to upload balance sheet in BUSY
How is the profit amount calculated in the P&L statement?
The profit amount in a Profit and Loss (P&L) statement, also known as an income statement, is calculated by subtracting total expenses from total revenues over a specific period. The basic formula for calculating profit is:
Profit=Total Revenues−Total Expenses
How can I check the final results in BUSY?
To check the final result in BUSY, follow these steps:
Step 1: Go to the Display menu and click on Final Results.
Step 2: Select the desired report type such as Balance Sheet or Profit and Loss Acount.
How do I generate financial reports like a profit and loss statement or balance sheet?
To generate financial reports like a profit and loss statement or balance sheet, you can follow some steps:
Step 1:Click on Display Option
Step 2: Now click on final Results and check profit and loss and Balancesheet option.
What options are available for tracking project costs and generating project financial reports?
To generate financial report go to:
Step 1 : Click on display
Step 2 : Final results
Step 3 : And check all financial reports like balance sheet, trial balance, etc.
And for cost you can use cost center feature