Frequently Asked Questions

Q: How can I generate financial statements like P&L, balance sheet etc?

To generate financial report in BUSY: Step 1 : CLick on display Step 2 : Final results Step 3 : Check balance sheet , trial balance and profit and loss account

Q: How can i skip the profit or loss from balance sheet?

If you don't want to see profit or loss in balance then you can set Y on skip P/L for the period option before opening the balance sheet.

Q: What does profit brought forward mean in the balance sheet?

Profit brought forward in the balance sheet refers to the profit from the previous year that is carried forward to the current financial year in the balance sheet.

Q: Where can I find the financial statement generator in BUSY?

To get financial report in BUSY: Step 1 : CLick on display Step 2 : Final results Step 3 : Balance sheet, trial balance, profit and loss account

Q: Is there a way to restrict certain stock update options in BUSY? I only want certain users to have access.

No, there is no restrictions to specific users for update manual stock in Balance Sheet. If the option is enable then every user can update manual stock.

Q: Why is the amount in the capital account increased in the current year's balance sheet in BUSY?

The amount in the capital account might be increased in current financial year due to transfered profit into capital account in the previous financial year.

Q: How can I generate profit and loss, balance sheet in BUSY?

Please follow below mention steps to check Balancesheet and Profit and Loss report:- Step 1:- Display Tab Step 2:- Final Reports Step 3:- Balancesheet or P&L check reports

Q: I want to upload my company's financial statements into BUSY. What steps should I follow to do this?

You cannot upload the company financial statements in the BUSY. In financial report, The data shows as per the transactions added in the company.

Q: What are the different financial statements that can be generated in BUSY?

The different financial statements that can be generated in BUSY include the Profit and Loss Statement, Balance Sheet, Cash Flow Statement, and Trial Balance.

Q: The commission bills I generate seem to be causing differences between my GST return and balance sheet. What can I do to fix this?

Check commision entry entered properly or not and what are the accounting affect of entry. Gst charge on entry properly or not

Solutions to common issues related to Final Results — Balance Sheet.

Support

Step-by-step Answers

How can I generate financial statements like P&L, balance sheet etc?

To generate financial report in BUSY:
Step 1 : CLick on display
Step 2 : Final results
Step 3 : Check balance sheet , trial balance and profit and loss account

How can i skip the profit or loss from balance sheet?

If you don't want to see profit or loss in balance then you can set Y on skip P/L for the period option before opening the balance sheet.

What does profit brought forward mean in the balance sheet?

Profit brought forward in the balance sheet refers to the profit from the previous year that is carried forward to the current financial year in the balance sheet.

Where can I find the financial statement generator in BUSY?

To get financial report in BUSY:
 Step 1 : CLick on display
 Step 2 : Final results
 Step 3 : Balance sheet, trial balance, profit and loss account

Is there a way to restrict certain stock update options in BUSY? I only want certain users to have access.

No, there is no restrictions to specific users for update manual stock in Balance Sheet. If the option is enable then every user can update manual stock.

Why is the amount in the capital account increased in the current year's balance sheet in BUSY?

The amount in the capital account might be increased in current financial year due to transfered profit into capital account in the previous financial year.

How can I generate profit and loss, balance sheet in BUSY?

Please follow below mention steps to check Balancesheet and Profit and Loss report:-
Step 1:- Display Tab
Step 2:- Final Reports
Step 3:- Balancesheet or P&L check reports

I want to upload my company's financial statements into BUSY. What steps should I follow to do this?

You cannot upload the company financial statements in the BUSY. In financial report, The data shows as per the transactions added in the company.

What are the different financial statements that can be generated in BUSY?

The different financial statements that can be generated in BUSY include the Profit and Loss Statement, Balance Sheet, Cash Flow Statement, and Trial Balance.

The commission bills I generate seem to be causing differences between my GST return and balance sheet. What can I do to fix this?

Check commision entry entered properly or not and what are the accounting affect of entry. 
 Gst charge on entry properly or not

Trusted by Industry Leaders

Ready to scale your
business?

Join 6,00,000+ growing businesses who trust Busy for their financial management. Experience the power of professional accounting in the palm of your hand.

Start Free Trial

No Credit Card Required