Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
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
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.
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.
I am unable to see the GST amounts broken down in the invoice print out? It only displays the total tax amount.
Here's how you can configure your invoice to display a detailed breakdown of GST amounts:
Step 1: Navigate to the invoice configuration settings. Step 2: Select standard configuration Step 3 : Select Sales Invoice Step 4: Click on Body configuration to configure columns . Step 5: set the width of the GST rate and amounts column . Step 6: save the configuration .
Step 7: For Advance invoice designing configuration contact to your dealer . It will be chargabel basis .
Why are ineligible ITC expenses still showing up in my reports even after I have marked them as ineligible and local purchase?
If your ineligible itc showing in report and you want it as ineligible in reports please folloe these steps:
Step 1 : Go to the Transacton menu .
Step 2: Then Click on Gst Misc Utilities option.
Step 3: Select monthly ITC tagging as per GSTR 2A / GSTR 2B
Step 4 : open the report from party or date-wise as required
Step 5 : Select the entry and press F4 to change the status and change it to ineligible
Where is the option to switch to manual upload of JSON file on the portal? I only see automatic upload option.
Find out the steps to succesfully Direct upload gstr from BUSY
Step 1: Go to the Administration menu and select Configuration.
Step 2: Choose Features / Options and then GST / VAT.
Step 3: Enter your GST portal username and make sure gst no also mentioned
Step 4: Then go the Display menu and select GST Reports.
Step 5: Then go to GST Returns
Step 6 :Then go to GSTR-1 eReturn and select Direct Upload option
Step 7 : Enter the date range and upload return
Is there a report in BUSY that shows bills pending payment for more than days along with the GST amount?
Yes, BUSY has a report which shows the pending bills older than 180 days. To generate that report follow these steps:
Step 1: Open your company then go to Display menu.
Step 2: Select GST Reports and click on GST Other Reports.
Step 3: Choose Bill wise ITC Reversal and can filter the report by One Party, Group of Parties, All Parties or Selected Parties.
Step 4: Enter the report date and mention 180 in Consider Peding bills older than field then open the report.
I made changes to the taxation settings in BUSY but it is still calculating GST incorrectly. What should I check?
To calculate GST accurately in BUSY , you can follow the steps below:
Step 1. Select correct transaction type for applying tax
Step 2. Then select item and open in modify by alt+m
Step 3. Mention correct tax rate according to item
Step 4. Check tax category of all items mentioned in then voucher should match as per supplier bill
By following these steps , you will be able to enter the GST rates accurately in BUSY.