The RCM tax amount is not getting reflected in the RCM payable/receivable sections under GST summary. What should I check?
If the RCM tax amount is not getting reflected in the RCM payable/receivable sections in GST summary report, you should check if the RCM expenses voucher have been correctly booked and if the consolidated RCM payable entry has been posted.
Please follow below steps to post RCM expense and consolidate RCM payble voucher correctly.
Step 1: Create the expense master in BUSY, to create go in Administartion > Maters > Click on Accunt > Add and mention the expense. Specify Tax categogy and Cumpolsory under RCM expense in the expense account.
Step 2: Now select transations menu to post RCM expense vouhcer > Select journal voucher > Click on Add.
Step 3: Sepecify RCM expense under GST nature for booking RCM entry.
Step 4: Debit required Expense and credit the party account.
Step 5: After posting Expense entry, go in transaction > GST misc utilities > Select Check post consolidate RCM payable voucher.
Step 6 : Select monthly or daily basis and open the report and press F4 to post consolidate voucher, Save consolidate voucher in journal.
After posting the RCM consolidate voucher make sure to verify GST summay report to view the data is reflecting correctly in the report.