Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - profit and loss account
can I generate a profit and loss statement in BUSY?
You can generate a profit and loss statement in BUSY you can follow these steps:
Step 1:Open the BUSY Accounitng Software on your system.
Step 2:Open the selected Company.
Step 3:Go to Display Menu,
Step 4:select Final result,
Step 5:Select Profit and loss,
Step 6:Here,you can check horizontal,vertical, monthly profit and loss summary,and detailed monthly reports.
Step 7:Open the report which you want see,select start date and end date,if you want to see second level details in Profit and loss, so you can specify Y. Then Open
and view your Profit and loss.
I am unable to see the taxable amount separately from the sales amount in my profit and loss statement. How can I show these amounts separately?
Profit and loss report will show sales figure that hit through the sales ledger account. To check the taxable amount and sales amount separately, you can check the accounting sales register by following steps:
Step 1: Go to Display section then click on Account books
Step 2: Choose the Accounts register standard.
Step 3: Select the sales register, select all sales type option then all party.
Step 4: Mention the date range, enable Show bifurcation of amount and press on Ok tab. The report will display sales data with birfurcation.
Where can I see the profit or loss for the previous year?
To see profit or loss for the previous year, you need go to into last financial year from the administration menu then click on change financial year. You can also press F11 to swith the financial year. After changing the financial year follow the below steps to view profit or loss:
Step 1: Go to display menu then select final results option.
Step 2: Select profit and loss account and select horizontal (standard).
Step 3: Enter the date range then press ok to open the report and you will see the net profit or loss here.
How do I view expense reports in BUSY?
If you want to view your expenses report in BUSY, you can follow these steps:
Step 1: Open BUSY and choose the company you want to work with. Then, go to the Display tab and click on Final Results.
Step 2: Choose the Income & Expenditure A/C option and specify the date range. You will see a report of all the expenses incurred during that period.
Step 3: You can also view the Profit & Loss A/C option from the Final Results. This will show you the breakdown of your expenses into direct and indirect categories.
How can I view Expense Reports in BUSY?
If you want to view your expenses report in BUSY, you can follow these steps:
Step 1: Open BUSY and choose the company you want to work with. Then, go to the Display tab and click on Final Results.
Step 2: Choose the Income & Expenditure A/C option and specify the date range. You will see a report of all the expenses incurred during that period.
Step 3: You can also view the Profit & Loss A/C option from the Final Results. This will show you the breakdown of your expenses into direct and indirect categories.
I want to track my business expenses. How can I do this in BUSY?
If you want to track your expenses in BUSY, you can follow these steps:
Step 1: Open BUSY and choose the company you want to work with. Then, go to the Display tab and click on Final Results.
Step 2: Choose the Income & Expenditure A/C option and specify the date range. You will see a report of all the expenses incurred during that period.
Step 3: You can also view the Profit & Loss A/C option from the Final Results. This will show you the breakdown of your expenses into direct and indirect categories.
Why is the taxable value shown in my profit & loss account and not the total value including taxes? Where can I view the total value with taxes?
The Profit & Loss account shows only the taxable value of invoice because tax amount is a part of duties and taxes which shows in the balance sheet.
You can see the sales register to see value with taxes. To see this follow these steps:
Step 1: Go to Display menu and click on Account Books.
Step 2: Select Account Registers (Standard) and choose sales register.
Step 3: Enter the date range and enable the option Show Bifurcation of Amount then can see the value of invoices with tax.
How do I generate financial statements like P&L and Balance Sheet using BUSY?
If you want to generate Profit & Loss and Balance Sheet in BUSY, you can follow these steps:
Step 1: Open your company, then, go to the Display menu.
Step 2: Click on Final Results and choose the Profit & Loss A/c or Balance sheet.
Step 3: Enter the date range. You will see a report of that period.
To export data from BUSY, you can go to the respective report and use the Export (ALT+E) option to export it in a compatible file format such as Excel, CSV, PDF & Google Sheet.
How do I generate financial statements like P&L, Balance Sheet in BUSY?
If you want to generate Profit & Loss and Balance Sheet in BUSY, you can follow these steps:
Step 1: Open your company, then, go to the Display menu.
Step 2: Click on Final Results and choose the Profit & Loss A/c or Balance sheet.
Step 3: Enter the date range. You will see a report of that period.
To export data from BUSY, you can go to the respective report and use the Export (ALT+E) option to export it in a compatible file format such as Excel, CSV, PDF & Google Sheet.
How do I enter details of the stock purchased, sold and remaining in the trading account?
To enter details of stock purchased, sold, and remaining in the trading account in BUSY, you need to specify the appropriate purchase/sales ledger under correct account group for the product or service being sold, enter the details of the purchase/sale including date, invoice/reference number, description of items or services sold, quantity sold, unit price or rate, and any applicable taxes or discounts.
Note: Sale/purchase account should be tagged under sale/purchase type as configure in inventory tab option in feature tag sale/purchase account with.
