Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How do I manage GST and VAT payments of Rs. per year?
Managing both GST (Goods and Services Tax) and VAT (Value Added Tax) payments of Rs. 2000 per year, while keeping accurate records, requires some attention to detail.Remember that the specific rules and regulations for GST and VAT can vary by location, so it's crucial to stay informed about your local tax laws and seek guidance from tax authorities or professionals as needed. Additionally, utilizing accounting software tailored to your tax needs can significantly simplify the process of managing these tax obligations.
Why are identical items classified differently in separate invoices in BUSY?
Items being classified differently in separate invoices in BUSYcould be due to various reasons, including:
Step 1 :Data entry errors can result in the same item being classified differently on separate invoices.
Step 2 :If you have created custom item categories for specific invoices, this can lead to different classifications.
Step 3: Ensure that you consistently apply the correct tax rates to items.
Step 4: The item master data in your software might contain variations in item descriptions, categories, or rates.
My sales invoice GST amount is not reconciling with GST returns. What could be the reason?
To sales invoice GST amount is not reconciling with GST returns,you can follow these
Step 1: Double-check the invoice details, including invoice numbers, dates, customer/vendor details, and tax rates.
Step 2: Use the correct GST rates for different products or services, and ensure that you're charging and reporting taxes accurately.
Step 3 : Regularly reconcile your sales and purchase data
Step 4 : Ensure that no invoices are missed or duplicate
Step 5 : Periodically reconcile your GST returns
How can I modify the exempt, non-exempt and zero rated sections in my GST report?
Here's how you can modify these sections in most GST reporting BUSY , Please follow steps :
Step 1: Check your transaction entries are tag properly as exempt, non-exempt, or zero-rated.
Step 2: Locate the transactions that need to be modified, and open each one for modifing.
Step 3: If a transaction was incorrectly categorized as exempt, non-exempt, or zero-rated, you can modify it to the correct category.
Step 4 : generate updated GST reports with the new changes.
Why are there separate GST reports and GST other reports, and what's the difference?
it's common to have separate GST Reports and GST other Reports for specific purposes.
Step 1: GST Reports menu display reports related to GST. Step 2; On clicking the GST Reports option, GST other Reports options appear.
Step 3: GST Other Reports contain miscellaneous reports related to GST. On clicking the GST Other Reports option, following options appear: Tax rate - wise Output Tax Purchase / Expense wise ITC Bill wise ITC Reversal HSN wise Summary Input Available on Existing Stock
I need to export the reports from BUSY to Excel for additional formatting and analysis. What is the best way to export reports as editable Excel files?
You can export report in excel format. Example you want export GST sale register or purchase register.
Step 1: Generate the GST Sale Register or Purchase Register on the screen.
Step 2: Click on the "Export" option.
Step 3: During the export process, you will encounter data format options. Choose "Microsoft Excel."
Step 4: Specify the desired file name for the exported report.
Step 5: Select the location on your computer where you want to save the Excel file.
Step 6: Confirm and complete the export process.
How can I get a consolidated GST tax summary across multiple months in BUSY? I want to view reports for an entire quarter or annual period.
get a consolidated GST tax summary across multiple months in BUSY by following these general steps:
Step 1: Once you are logged into the software, look for the Display menu.
Step 2: Within the Display menu, you should find a submenu or option related to GST tax summary .
Step 3: Click on it to proceed.
Step 4: In the GST Reports section,Look for the option labeled GST Summary
Step 5:Specify the date range of monthly and open the report .
Why am I not able to see my company's GST number in the GST reports in BUSY? How can I link my GST number?
unable to see my company's GST number in the GST reports in BUSY for that make sure you entered your Companies GST no in Company details or in GST configuration for that follow these steps
step 1: go to the Configuration under administration menu.
step 2: open features and option then click on GST/VAT tab
step 3: and mentioned your company GST no then save it
step 4: after that you can see the GST no in GST reports.
What is the meaning of the BC and BB categories shown in my reports? How do these categories affect the invoice details shown?
Here's what they mean and how they affect invoice details:
B2C (Business-to-Consumer):B2C transactions refer to business transactions in which a business sells goods or services directly to individual consumers (end-users) rather than to other businesses. In these transactions, the buyer is not registered for GST or does not have a GSTIN
B2B (Business-to-Business):B2B transactions involve business entities selling goods or services to other businesses. In B2B transactions, both the seller and the buyer are registered for GST and have GSTINs.
How can I ensure that the GST amount calculated matches the entered amount in the bill in BUSY?
To ensure that the GST amount calculated matches the entered amount in the bill in BUSY software You can follow the steps.
Step 1. Go to gst report
Step 2 Open the report in short range.
It will be helpful to you to check balances.
Step 3. Compare the report balances from voucher amount.
Step 4. If balance is not updated then You can run update voucher gst summary in house keeping menu to update balance.