Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - balance sheet
I want to modify the opening balance for the new financial year. What should I do?
To modify the opening balance for the new financial year in BUSY, you need to split the financial year.
Where do I specify taxes owed in the software?
You can specify taxes owed in the software under the section of Duties and Taxes in the balance sheet.
Can i customize financial statements in BUSY?
In BUSY there is no default option to customize financial statemtents. Further you concern to your authorize channel partner.
Can I reset all the opening balances of the accounts in my balance sheet to zero in BUSY?
Yes, You can reset all the opening balances of the accounts in your balance sheet to
zero in BUSY.
When I create a new company, will the balance sheet be zero initially?
Yes, when you create a new company in BUSY Accounting software, the balance sheet will be zero initially.
How can I generate reports and statements on sales, revenue, etc?
From BUSY, We can generate multiple report related to Accounting, Inventory, Payroll, GST,TDS,Final Account etc Under Display Menu.
How do I analyze my financial data in BUSY?
In BUSY, We can check in Balance Sheet, Profit and loss Account and Trial Balance Under Display Menu.
Can I update stock values at the overall level or do I have to update item-wise in BUSY?
In BUSY, you can update overall closing stock in balance sheet on the basis of GP ratio.
How are amounts grouped in the balance sheet?
Amounts are grouped in the balance sheet according to their categories such as assets, liabilities, and equity.
Can I generate financial statements like balance sheets and income statements in BUSY?
yes you can generate financial statements like balance sheets and income statements in BUSY.