Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
What are common reasons for entry errors, and how can I avoid them?
Here are some potential causes for this discrepancy:
Step 1: Incorrect data entry in your BUSY, such as entering wrong invoice details, tax amounts, or dates, can lead to discrepancies.
Step 2: Recording a transaction in a different financial period than when it occurred
Step 3: Failure to reconcile your accounting records with the auto-populated data in GSTR-2A Step 4: Mismatch in Tax Rates
Step 5: If you made amendments or corrections in your GSTR-1 on the portal after filing it through
I want to export GST reports in PDF format. What should I do?
To export GST reports in PDF format from BUSY, you can follow these steps:
Step 1. Open BUSY.
Step 2. Go to the 'Display' menu.
Step 3. Select 'GST Report'.
Step 4. Choose the specific GST report you want to export.
Step 5. Set the desired date range for the report.
Step 6. Click on the 'Export' option.
Step 7. Choose the 'PDF' format for exporting the report.
Step 8. Save the exported PDF file to your preferred location on your computer.
How do I identify mismatches or gaps when reconciling GST data in BUSY?
Here are some potential causes for this discrepancy:
Step 1: Incorrect data entry in your BUSY, such as entering wrong invoice details, tax amounts, or dates, can lead to discrepancies.
Step 2: Recording a transaction in a different financial period than when it occurred
Step 3: Failure to reconcile your accounting records with the auto-populated data in GSTR-2A Step 4: Mismatch in Tax Rates
Step 5: If you made amendments or corrections in your GSTR-1 on the portal after filing it through
How can I resolve balance sheet discrepancies in the sales comparison report?
Here's a step-by-step approach to address this issue:
Step 1: Review the Sales Analysis Report.
Step 2: Check the data entry for sales transactions.
Step 3: Cross-verify the sales entries with the corresponding invoices and receipts.
Step 4:Make sure that the amounts, dates, and customer details match in both the sales records and invoices.
Step 5: Compare your financial statements, bank records, and other financial data .
Step 6: If you are using custom reports or filters to generate the sales report.
What causes tagging issues in BUSY and how can I resolve them?
Here are common causes of tagging issues and steps to resolve them:
Step 1: Double-check the GSTIN, invoice number, date, and other details. Ensure accuracy in data entry.
Step 2: Reconcile your purchase records with GSTR-2A. Make necessary adjustments to match the data.
Step 3: Review the eligibility criteria for ITC and ensure that only eligible purchases are tagged. Correct any misclassifications.
Step 4: regularly update and reconcile your records with GSTR-2A.
Step 5: Check that amendments are correctly reflected in GSTR-2A.
How can I filter vouchers to update state codes in BUSY?
To filter vouchers to update state codes in BUSY , to resolve using the following steps:
Step 1: Go to display menu in the comapny .
Step 2: Nevigate the reports option .
Step 3: Select specific report which you want to filter .
Step 4 : In the registers view the report and press F7 to filter the report .
Step 6: Add custom column of State
Step 5 : Apply filter on State field .
How to add the non gst supply voucher in BUSY.
To add the non -gst supply in BUSY follow below mentioned steps:
Step 1: Go to administration menu and select masters from it.
Step 2: In masters select sale type then click on add button.
Step 3: Then give the sale type name and select taxation type as non-gst then click on save button.
Step 4: Go to transaction menu and select sale add option to add the voucher with sale type non gst which is created in earlier step.
How can I edit the customer master data in BUSY?
edit the customer master data in BUSY , here's how to locate and access it:
Step 1: Launch the BUSY on your computer.
Step 2 : Go to Administratio menu .
Step 3: Look for the Masters Menu
Step 4: Select the Account option.
Step 5 : Once you're in the Accounts section, you can add, edit, or view information related to your parties.
Step 6: select modify option
Step 7 : make the necessary chages in account master and save
Why are some transactions missing from my GST summary calculations?
There are several reasons why some transactions are missing in the GST Summary of BUSY. Some of are:
Step 1: In the Item master and Sale / Purchase Type Master the option of Skip in GST Reports is Y.
Step 2: Voucher is saved without applying the tax.
Step 3. The tax account selected in the sale/purchase type and tax bill sundries is incorrect.
Step 4: The tax type selected in the tax accounts, such as IGST, CGST, SGST, etc., is wrong.
How can I fix incorrect opening balances for imported data in BUSY?
Follow these steps to fix the issue:
Step 1: Identify the Incorrect Balances
Step 2: Verify the data you imported, such as ledger balances and transaction history
Step 3: Adjust these balances to the correct opening balances as of the begning of your financial year.
Step 4: Make any necessary adjustments to these transactions to ensure they reflect the correct opening balances.
Step 5: Generate a trial balance report to verify that the opening balances now match your corrected ledger balances.