Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I made some amendments to last year's BB invoices this year. How do I show these amendments properly in BUSY?
To show amendments made to last year's B2B invoices in BUSY, you need to update the invoices in BUSY and save them. The changes will then be reflected in the updated invoices.You can run Update Voucher GST Summary but you need to follow some steps:
Step 1- Take the backup...
Should I be doing cross-adjustment and input-output adjustment entries every month? Or is there a specific time it is required?
In BUSY you can do cross adjustment entries for tax at the end of every month as remaining balance is carried to opening of each next month.So to adjust input output in BUSY follow these steps
Step 1 Go to display and then go to gst reports
Step 2 Select...
My Gstr internal reports show a different number of bills compared to the portal. How can I fix this?
To fix the issue of your gstr 1 internal reports showing a different number of bills compared to the portal, you can try the following steps:
1. Make sure you are comparing the correct reports. Check if you are looking at the bills from the GST portal and not from...
I don't understand how to do input-output adjustment entries in BUSY. Is there a way to automate this?
In BUSY you can do cross adjustment entries for tax at the end of every month as remaining balance is carried to opening of each next month.So to adjust input output in BUSY follow these steps
Step 1 Go to display and then go to gst reports
Step 2 Select...
What analytics and business insights are available in BUSY?
BUSY provides various analytics and business insights to help you monitor and improve your business performance.
1. Financial Reports: Standard financial statements like balance sheets, profit and loss, cash flow, and trial balances offer a snapshot or giving a clear picture of your company's financial health and standing at any given time of your business's financial status.
2. Custom Reports: Tailor-made reports allow you to focus on specific metrics or aspects of your business for in-depth analysis.
3. Inventory Analysis: Track stock movement, turnover rates, reorder levels, and valuation reports to optimize inventory management.
4. Sales & Revenue Analysis: Understand sales trends, revenue streams, product or service performance, and customer segmentation for informed sales strategies.
5. Expense Tracking: Analyze spending patterns, costs by category, and identify areas for cost-saving.
6. Tax & Compliance: Insights into tax liabilities, compliance reports, and tax filing documents streamline financial compliance.
7. Dashboard & Visuals: Visual representations on dashboards offer a quick overview of essential business metrics.
Cash Flow Management: Monitor cash flow, forecast future positions, and ensure financial stability.
8. Budgeting & Forecasting: Create budgets, forecast future performance, and compare actuals against projections.
I need to file my GST returns but am unable to download the required GSTR-B file. What should I do?
The GST 2A download may get disconnected in BUSY due to temporary server problems or issues with the internet connection. To troubleshoot this, you can try the following steps:
Step 1 : Check your internet connection: Ensure that you have a stable and reliable internet connection. If your connection is weak or intermittent, it may cause the download to disconnect. Consider restarting your router or contacting your internet service provider for assistance.
Step 2 : Clear cache and cookies: Clearing the cache and cookies in your web browser can help resolve any temporary issues that may be causing the disconnection. Go to your browser settings and clear the cache and cookies, then try downloading the GST 2A again.
Step 3 : Update the software: Make sure that you are using the latest version of BUSY. Software updates often include bug fixes and improvements that can resolve connectivity issues. Check for any available updates and install them if necessary.
Step 4 : Disable firewall or antivirus: Sometimes, firewall or antivirus software can interfere with the download process. Temporarily disable these security measures and try downloading the GST 2A again. Remember to re-enable them once the download is complete.
Why is the GST A download getting disconnected in BUSY? How to troubleshoot this?
The GST 2A download may get disconnected in BUSY due to temporary server problems or issues with the internet connection. To troubleshoot this, you can try the following steps:
Step 1 : Check your internet connection: Ensure that you have a stable and reliable internet connection. If your connection is weak or intermittent, it may cause the download to disconnect. Consider restarting your router or contacting your internet service provider for assistance.
Step 2 : Clear cache and cookies: Clearing the cache and cookies in your web browser can help resolve any temporary issues that may be causing the disconnection. Go to your browser settings and clear the cache and cookies, then try downloading the GST 2A again.
Step 3 : Update the software: Make sure that you are using the latest version of BUSY. Software updates often include bug fixes and improvements that can resolve connectivity issues. Check for any available updates and install them if necessary.
Step 4 : Disable firewall or antivirus: Sometimes, firewall or antivirus software can interfere with the download process. Temporarily disable these security measures and try downloading the GST 2A again. Remember to re-enable them once the download is complete.
How do I adjust excess GST paid while purchasing in my next GST return filing in BUSY software?
In order to adjust excess GST paid in the previous month, you need to pass a Journal entry for adjustment. However, before doing so, you must first create a cross-adjustment entry through the GST Summary of the particular month in which you want to adjust your excess GST amount. This will allow you to determine the actual GST payable for that month.
Once the cross-adjustment entry is done, you can pass a separate Journal entry to reduce the GST payable amount of that particular month. To do this, you can create an account master with the name "excess GST paid" and define the group as either a current asset or advance. You can then mention the excess GST amount as the opening balance in that account master for the next month.
To pass the Journal entry, debit the "excess GST paid" account and credit the GST payable account of that particular month. This will help you find the net GST payable amount for that month after adjusting your excess GST paid amount.
It is important to note that for such entries, it is recommended to contact a CA or an accountant.
The reports I generate in BUSY are showing incorrect or irrelevant data. Some transactions seem to be missing while some unknown transactions are showing up. What could be the reason and how can I fix this?
If reports like accouting or gst reports showing incorrect data or not as per records,you can these points
1. Review the entries made in the BUSY to ensure that there are no mistakes or incorrect values entered.
2. Make sure that the transactions are correctly categorized and mapped to the appropriate accounts.Check billing party is selected proerly according to the transactions
3. Check if there are any duplicate entries that might be affecting the balances. Remove any duplicates to see if it resolves the issue.
4. Review the opening balances for each account to ensure they are entered correctly or any changes made in previous year may affect opening balance in current financial year
5. Check all item entries are correclty done and if there is any tagging in it affect that account is correct and also can reapply item in voucher if made any changes
6. Check all over amount including tax amounts in vouchers is correct
7. Also after backup,you can update master balances or update gst summary for gst reports from hoousekeeping if needed or regenrate dual vouchers for masters,if any changes made after voucher entries
I am unable to find the customized GST report that was created earlier. How can I retrieve or recreate this report?
If you had customized GST report that was created earlier and now you are not able to find this then you need to follow below steps :
Step 1:Check your backup data or the latest backup for the customized GST report.
Step 2:Restore the data if needed.
Step 3:Open the GST report from the restored data.
Step 4:Click on custom columns on the right-hand side at the bottom.
Step 5:Select copy to disk and choose your desired format.
Step 6:Save the exported report to the desktop.
Step 7:Go back to the GST report, open it again, and select standard report.
Step 8:Click on custom columns on the right-hand side at the bottom.
Step 9:Choose copy from disk and select the format exported to the desktop.
Step 10:Save the information to retrieve the report.
If the report is not in the backup, then you need to create new report, follow these steps:
Step 1:Open the GST report.
Step 2:Click on custom column at the top.
Step 3:Add the required fields.
Step 4:Save this new format to create a new report.
