Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - profit and loss account
I did bulk updates in sales vouchers and regenerated vouchers. But P&L and GST mismatch still persists. Please guide.
If you are facing issue related to P&L and GST mismatch please follow this steps to get this resolved:
Step 1: Take the backup of your data then Go to House-keeping menu
Step 2: Then run update master balance in your data
Step 3: If same issue persist then run update voucher gst summary from the same menu
Step 4: If you face same issue then check the P&L and GST reports in short date range and try to find the date from where mismatch occurs
Step 5: Afterwards check the mistakes and try to solve it accordingly
Step 6: If you are using old release kindly update it to latest version
Why can't I customize the financial reports and statements in BUSY? I need to modify them to match my business needs.
To check profit and losst statement in BUSY , you follow rhe below steps:
Step 1: Go to display then select final result and click on profit and loss
Step 2: Open profit and loss by selecting date range and check the values
Step 3: Then check group wise balance if mismatch check by on enter account wise
Step 4: Check all transaction value and accunt mention in them.
Note: If balances are showing on enter mismatch then after backup go to house keeping , then update master balances .
By following these steps you will be able to check Profit and loss statement and correct any discrepancy in BUSY.
I am trying to run a profit and loss report in BUSY but it is showing a negative profit number that doesn't seem right. What could cause the profit and loss report to show an incorrect profit amount?
To check the profit and loss report in BUSY but it is showing a negative profit number that doesn't seem right, you need to cause the profit and loss report with the below steps:
1. For this to check your opening stock amount, purchase amount, expenses (direct or MFG) amount on the debit side, and also check the closing stock amount, sale amount, and income (direct or opr) amount on the credit side, it will show as per your accounting transaction effect.
2. Run the update master balances from the housekeeping option.
By following the above steps, you will find the cause of the negative profit number.
How can I generate branch-wise profit and loss statements in BUSY?
If you want to generate Branch-wise Profit & Loss, 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: If you are logged in with a branch user, select the Profit & Loss A/c and specify the date range. You will see the report for that period.
Step 3: If you are logged in with a Super / Admin user, select the Profit & Loss A/c and then choose the branch filter. You can select all branches or a single branch and view the report.
How can I generate separate profit and loss statements for each branch?
If you want to generate Branch-wise Profit & Loss, 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: If you are logged in with a branch user, select the Profit & Loss A/c and specify the date range. You will see the report for that period.
If you are logged in with a Super / Admin user, select the Profit & Loss A/c and then choose the branch filter. You can select all branches or a single branch and view the report.
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.
