Frequently Asked
Questions
Find Solutions to Common Issues Related to final-results - profit and loss account
Why is BUSY showing wrong profit amounts
There could be several reasons why BUSY is showing wrong profit amounts. Some of the possible causes are:
1. Incorret data entered of Sales / Purchase.
2. Closing stock value show wrong it depends on the stock valuation method.
3. Improper recording of Income / Expense entries.
There might be other reasons depending on the situation.
Why is the latest month missing from the profit and loss report in BUSY?
In Profit and loss account, if the latest month is showing blank then pls follow the below steps.
Step 1: When there is no transactions has been entered in that month then its shows blank.
Step 2: Make sure that if you have applied any filter then remove and check it.
How do I generate financial reports like profit and loss statement in BUSY?
To generate Financial reports like Profit and loss statement in BUSY you need to follow the steps
Step1 Open company and go to display menu
Step2 click on final results and then click Profit and loss account
Step3 click on horizontal standard and select date range then press ok
Why is the closing stock not updating automatically based on entries?
If your closing stock not updated in balance sheet or profit and loss account properly according to stock status do follow some steps:
Step: 1 Select ask me in balance sheet stock updation feature in account tab.
Step: 2 Then while open balance sheet or profit and loss enable update balance sheet stock option.
How can I customize the P&L report in BUSY to show input and output GST details?
In P&L Report you can't add custom column further for Input and Output Gst detail you can check Gst summary Report.
For Open Gst summary Report please follow these steps:
1. Go in Display then Go in Gst Report
2. Then Go in GST Summaries and Open Report
How do I run a profit and loss report for a custom date range in BUSY?
To run a profit and loss report for a custom date range in BUSY, you can follow these steps:
Step 1 : CLick on display
Step 2 : Final results
Step 3 : Profit and loss
Step 4 : Horizontal standard
Step 5 : Select custom date range and open report
What should I do if profit and loss report display blank in BUSY?
If the profit and loss report appear blank then follow these steps:
Step 1: Go to display section then click on final result.
Step 2: Select profit and loss report then click on horizontal (standard).
Step 3: Specify the date range and open the report.
Step 4: Now,press ALT+D to correct the allignment of report.
How do I check the balance of a revenue account in BUSY?
In BUSY, you can check the profit and loss report to view the revenue report by follow these steps:
Step 1: Go to display section then click on final result.
Step 2: Select profit and loss report then click on horizontal (standard).
Step 3: Specify the date range and check the report.
How do I reflect GST adjustments in PL
GST tax adjustment in BUSY does not affect the profit and loss account, because tax accounts are part of duties and taxes. Duties and taxes are shown in the balance sheet, not in the profit and loss account. You can also consult your CA or accountant for more details.
How do I generate financial reports in BUSY like profit and loss statements?
To generate financial reports like profit and loss statements in BUSY, you can follow these steps:
Step 1: Go to the Display menu and select final results.
Step 2: Then select profit and loss account option.
Step 3: Then mention date range and click on ok button to view report.