Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - profit and loss account
Why am I unable to generate a profit and loss statement for the current month?
To generate Profit and Loss statements in BUSY, Please follow the below steps:
Step 1: Open company with using login credential then Go to Display tab.
Step 2: Click on Final Results and select Profit and Loss Report
Step 3: Specify date range as per your requirement and open the Profit and Loss Report.
Step 4: The software will make the report as per mentioned date range.
How can I generate consolidated financial statements for the entire organization's performance?
If you want to view consolidate financial report of all branches, you can follow these steps:
Step 1: Open BUSY and open company with Super / Admin user. Then, go to the Display tab and click on Final Results.
Step 2: Select Balance Sheet, Profit & Loss A/c, etc and select All Branch and open the report.
Step 3: You can also view other reports i.e, Accounting reports, Inventory reports, etc, with all branches.
How do I generate consolidated financial reports for multiple branches in BUSY?
If you want to view consolidate financial report of all branches, you can follow these steps:
Step 1: Open BUSY and open company with Super / Admin user. Then, go to the Display tab and click on Final Results.
Step 2: Select Balance Sheet, Profit & Loss A/c, etc and select All Branch and open the report.
Step 3: You can also view other reports i.e, Accounting reports, Inventory reports, etc, with all branches.
I have an account in BUSY. I have a certain amount in my account balance but the closing stock value is shown as zero. How do I fix this?
To correct zero closing stock value in BUSY you have to follow the steps
but need to ensure that you have mention opening stock amont in BUSY
1 Go to administration menu click on configuration
2 Then click on feature options and click accounts
3 make balance sheet stock updateion option as stock status and save
4 then check the profit and loss account it will show the closing stock value
I want to update my sales figures in the profit and loss statement in BUSY. How can I do this?
To update sales figures in the profit and loss statement in BUSY:
Step 1:Make transactions, and the figures will automatically update in reports.
Step 2:Check your sales and sales return registers under the transaction option.
Step 3:Refer to the account books register under the display option for additional verification.
Step 4:Reports are updated automatically, eliminating the need for manual preparation in BUSY.
My profit and loss statement shows a difference from my balance sheet. What should I do to fix this?
If show Difference between p&l account and in balance sheet first find difference in short range means both report open for a particular period and check match or not and after find date you should carefully review the transactions and entries in both documents. Check for any errors or omissions in recording income, expenses, assets, and liabilities. Make sure all transactions are accurately categorized and accounted
What is the process to generate profit and loss statement in BUSY?.
for generate profit and loss statement in BUSY please follow the below steps
step 1: go to the final report option under display menu
step 2: click on balance sheet option and select horizontal or vertical
step 3: mentioned start and end date also there is other options you can select relevant option as per you required and open profit and loss statement
How to view reports like profit/loss and balance sheet in BUSY?
If you want to view Profit & Loss and Balance Sheet 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 Profit & Loss A/c or Balance sheet option and specify the date range. You will see a report of that period.
Why is there a difference in the sales balance shown in the ledger and the sales profit and loss account, and how can i correct it in BUSY?
It is possible that the master balance is not updated properly in BUSY , to correct the same follow these steps:
Step 1: Take the latest backup of the data.
Step 2: Go to housekeeping Menu then click on update master balance submenu
Step 3: Then click on Ok tab and wait to complete the process and after completing check the same in profit and loss account.
My opening stock is showing zero in profit and loss report even after entering the item opening value in their respective master. what can I do?
If the opening stock is showing zero in profit and loss report and you have entered the item opening value in their master, follow these steps:
Step 1: Go to administration section then click on master menu
Step 2: Select the accounts tab then choose modify option
Step 3: Select the stock master and update the total opening value in stock opening field and save the master.