Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst rcm advance tax
I want to post the RCM entry for a particular month. How can I do this in BUSY?
To post the RCM entry for a particular month follow the steps
To post RCM purchase entry follow the steps
Step1 Go to transaction menu click to purchase and add
Step2 fill series name Voucher date Number and select purchase type as RCM Unreg
then select party name
Step3 Create a item master which tax category must be mentioned then fill item quantity
rate amount and save the voucher
To post RCM Expense entry follow the steps
Step1 Go to transaction menu and click on Payment or journal then click on add
Step2 Fill voucher series date and number and select GST Nature as RCM expense
Step3 debit the expense and credit the party or bank and need to ensure that
expense ledger have mentioned the tax category and RCM nature as Compulsory
Step4 save the voucher
To post Consolidate RCM entries for the month follow the process
Step1 go to transaction menu and click on Gst Misc utilities
Step2 Click on check post consolidated Rcm and Select monthly then select the month
then press F4 to post consolidated RCM voucher for the mopnth
The RCM to RCM regular adjustment is not showing up when I press F in voucher entry. What should I do to get this adjustment option?
If RCM to RCM regular adjustment is not showing in voucher entry F4 in BUSY, the solution is to check if there is any RCM available for adjustment.please follow below steps :
C) Create RCM Payable Voucher one have to use Check/Post Consolidated RCM Payable/To Check/Post Consolidated RCM Payable follow below Steps.
Step 1: Click on Transaction
Step 2: Click on GST Misc. Utilities
Step 3: Click on Check/Post Consolidated RCM Payable
Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
Step 5: Select required Details as asked
Step 6: Click on OK (F2)
Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
Step 8: Select the Series in which one wants to Post the Voucher
Step 9: Specify Date in which one wants to Post the Voucher
Step 10: Click on Save
Step 11: Click on YEN when asked
Step 12: Click on Save
Step 13: Specify Required Details
Step 14: Click on Save
Step 15: Click on Save when asked
Step 16: Click on Yes/No as Required
The cross entries are not happening correctly during RCM adjustment. What could be going wrong?
If RCM to RCM regular adjustment is not showing in voucher entry F4 in BUSY, the solution is to check if there is any RCM available for adjustment.please follow below steps :
C) Create RCM Payable Voucher one have to use Check/Post Consolidated RCM Payable/To Check/Post Consolidated RCM Payable follow below Steps.
Step 1: Click on Transaction
Step 2: Click on GST Misc. Utilities
Step 3: Click on Check/Post Consolidated RCM Payable
Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
Step 5: Select required Details as asked
Step 6: Click on OK (F2)
Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
Step 8: Select the Series in which one wants to Post the Voucher
Step 9: Specify Date in which one wants to Post the Voucher
Step 10: Click on Save
Step 11: Click on YEN when asked
Step 12: Click on Save
Step 13: Specify Required Details
Step 14: Click on Save
Step 15: Click on Save when asked
Step 16: Click on Yes/No as Required
How are RCM invoice values accounted for in BUSY? Is there something I need to check?
Please follow the given below steps to do the reverse charge mechanism (RCM) entry with proper configuration:
Step 1: Go to transactions menu
Step 2: Then click on purchase,payment and journal etc as required to do rcm expense entry
Step 3: Then do the entry
Step 4: In case of purchase voucher purchase type should be selected as Local-RCM / UnReg and reverse charge should be selected as compulsory
Step 5: In case if you are doing RCM expense entry through journal or payment voucher make sure GST nature should be selected as RCM expense and in expense master gst type should be selected as GST applicable and RCM nature should be selected as compulsory
Step 6: After doing the entry go to the transactions menu
Step 7: Then click on GST miscellaneous utilities
Step 8: Afterwards click on check/post consolidated RCM payable
Step 9: Then open the report
Step 10: Afterwards press the shortcut key F4 to post consolidate rcm payable voucher
Step 11: After that it will generate consolidate rcm payable voucher automatically after that save the voucher"
What is the right sequence of entries for reverse charge mechanism in BUSY?
Please follow the given below steps to do the reverse charge mechanism entry sequence wise:
Step 1: Go to transactions menu
Step 2: Then click on purchase,payment and journal etc as required to do rcm expense entry
Step 3: Then do the entry
Step 4: In case of purchase voucher purchase type should be selected as Local-RCM / UnReg and reverse charge should be selected as compulsory
Step 5: In case if you are doing RCM expense entry through journal or payment voucher make sure GST nature should be selected as RCM expense and in expense master gst type should be selected as GST applicable and RCM nature should be selected as compulsory
Step 6: After doing the entry go to the transactions menu
Step 7: Then click on GST miscellaneous utilities
Step 8: Afterwards click on check/post consolidated RCM payable
Step 9: Then open the report
Step 10: Afterwards press the shortcut key F4 to post consolidate rcm payable voucher
Step 11: After that it will generate consolidate rcm payable voucher automatically after that save the voucher
How to Delete the voucher upload through app?
To delete the voucher upload through BUSY Mobile App follow the steps : Step 1: Access Administration Menu: Navigate to the Administration Menu in BUSY.
Step 2: Go to Users: Click on the Users option in the Administration Menu.
Step 3: Select Cloud Sync Users: Under Users, choose Cloud Sync Users.
Step 4: ModiFinancial Year BUSY Mobile App User: Click on the ModiFinancial Year option and select the BUSY Mobile App user.
Step 5: Untag Sales Option: In the transaction section, untag or untick the sales option for the BUSY Mobile App user. Save Changes: Click on Save to apply the changes.
Step 6: Delete Single Sale Voucher: Navigate to Transactions. ModiFinancial Year Sales Voucher: Under Sales Voucher, click on ModiFinancial Year.
Step 7: Select BUSY Mobile App Voucher Series: Choose the BUSY Mobile App voucher series and enter the voucher details (date, etc.) that you want to modiFinancial Year or delete. Click OK.
Step 8: Delete Voucher: After modiFinancial Yearing the voucher, use F8 or manually click on the delete option.
I am unable to see the consolidated CGST, SGST and IGST in BUSY after recording RCM transactions. What should I do to view it correctly?
Create RCM Payable Voucher one have to use Check/Post Consolidated RCM Payable/To Check/Post Consolidated RCM Payable follow below Steps.
Step 1: Click on Transaction
Step 2: Click on GST Misc. Utilities
Step 3: Click on Check/Post Consolidated RCM Payable
Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
Step 5: Select required Details as asked
Step 6: Click on OK (F2)
Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
Step 8: Select the Series in which one wants to Post the Voucher
Step 9: Specify Date in which one wants to Post the Voucher
Step 10: Click on Save
Step 11: Click on YEN when asked
Step 12: Click on Save
Step 13: Specify Required Details
Step 14: Click on Save
Step 15: Click on Save when asked
How to handle reverse charge mechanism in GSTR reports?
If you want to handle reverse charge mechanism in GSTR report then please
follow the given steps
Step 1: You have to enter purchase with the sale type of RCM and Revese charge
must be selected as Compusory.
Step 2: If you record RCM entry through journal voucher then in the master of expense
RCM nature must be set as compulsary then and GST nature must selected
as RCM expense.
Step 3: Then for the pass the entry of consolidate you need to go to transaction then
GST misc. utilities. then post consolidated RCM payable.
Step 4: Then monthly basis and month in which RCM voucher falls. then here a
report of all RCM voucher will be shown then for post RCM consolidate
press F4. then save the voucher of consolidate.
Step 5: After the entry of the consolidate your RCM entry will be reflect in your GST
report.
I am unable to see the reverse charge entry in my GSTR filing even though I have entered it in my purchases. What should I do to reflect this in my GSTR ?
Here's what you can do to reflect reverse charge entries in your GSTR-1, please follow steps :
Step 1: Click on Transaction
Step 2: Click on GST Misc. Utilities
Step 3: Click on Check/Post Consolidated RCM Payable
Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
Step 5: Select required Details as asked
Step 6: Click on OK (F2)
Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
Step 8: Select the Series in which one wants to Post the Voucher
Step 9: Specify Date in which one wants to Post the Voucher
Step 10: Click on Save
Step 11: Click on YEN when asked
Step 12: Click on Save
Step 13: Specify Required Details
Step 14: Click on Save
Step 15: Click on Save when asked
Step 16: Click on Yes/No as Required
I am unable to see the RCM amount in my GSTR filing though it shows in my books and GSTR B filing. How can I get it to show in my GSTR ?
Here's what you can do to reflect reverse charge amounts in your GSTR-1, please follow steps :
Step 1: Click on Transaction
Step 2: Click on GST Misc. Utilities
Step 3: Click on Check/Post Consolidated RCM Payable
Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
Step 5: Select required Details as asked
Step 6: Click on OK (F2)
Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
Step 8: Select the Series in which one wants to Post the Voucher
Step 9: Specify Date in which one wants to Post the Voucher
Step 10: Click on Save
Step 11: Click on YEN when asked
Step 12: Click on Save
Step 13: Specify Required Details
Step 14: Click on Save
Step 15: Click on Save when asked
Step 16: Click on Yes/No as Required
