Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How can I see the summary of outward and inward supply in BUSY?
If you want to see a summary of supply outward and inward in BUSY please follow these steps:
Step 1: Go to display menu then click on GST reports submenu
Step 2: Click on GST registers and then click on supply outward and inward register as required
Step 3: Select the report to generate for all party,one party or ONE gstin
Step 4: Specify the date range and select appropriate option as required and click on ok to generate the report
What is the process of passing cross adjustment entries in BUSY?
You to follow below steps to know the process of passing cross adjustment entries in BUSY:
Step 1: Go to Display then click on GST reports.
Step 2: Then Click on GST Summaries.
Step 3: Under GST summaries click on GST summary then select the monthly date range.
Step 4: Locate the option Tax Payable with payment details columns.
Step 5: Then press F4 from your keyboard and there you get the option of Cross Adjustment entry.
How do I show multiple tax rates separately in BUSY Reports?
If you want to see tax rate wise Sale / Purhcase in BUSY, you can follow these steps:
Step 1: Go to Display and click on GST Reports then GST Registers.
Step 2: Select Supply Outward Registers / Supply Inward Registers as per the requirements.
Step 3: Enter the date range and open the report.
This report displays the data with a column for tax rates. You can summarize the tax rates by pressing F5 or clicking on the summary button.
How to handle accounting during tax season in BUSY?
To handle accounting during tax season in BUSY, you can follow these steps:
Step 1: Make sure you have updated the latest version of BUSY to get the latest features and bug fixes.
Step 2: Review your accounts and ledgers for any errors or discrepancies and rectify them before filing your returns.
Step 3: Match your sales data with GSTR-1 and fix any errors if found.
Step 4: Use GST-2A / 2B Reconciliation to verify your claimable ITC before filing GSTR-3B.
What is the credit ledger, and how do I access it in BUSY?
Here's how you can access the credit ledger in BUSY:
Step 1: Press ALT+L to open account ledger and specify the account name of which you want to check the balance.
Step 2: Then, you need to enter the Date Range for which you want to see the report and click on OK or press F2.
Step 3: The report will show you the Closing Balance of the selected account for the given period.
Why are some transactions showing as invalid when reconciling GST data in BUSY?
GST return reconciliation failed due to difference in Voucher number, voucher date and voucher amount raised between buyer and seller. To solve this you need to ensure that it should be same.
Follow below step to solve this:
Open the purchase voucher for which you are getting this mismatch in BUSY.
Edit the voucher number, voucher date and amount to get it matched with sellers invoice.
After this re-do the reconciliation process, it will be solved
How do I link my GSTIN with BUSY to download GSTR-B invoices automatically?
In BUSY, to configure and file quarterly GST returns, you can follow these steps:
Step 1: Open your BUSY software and navigate to the GST configuration section.
Step 2: found in the Masters or GST/VAT Configuration menu
Step 3: fil up GSTIN in particular field
Step 3: See options related to the filing frequencies for your GST returns
Step 4 : Check the GSTR portal name to link GSTR-2B link to GSTIN
How can I adjust IGST, CGST and SGST for tax adjustment in BUSY?
To adjust igst, cgst and sgst for tax adjustment in BUSY, follow these steps:
Step 1: Go to display section then click on GST reports.
Step 2: Choose GST summaries then select GST summary option.
Step 3: Specify the date range for required month and open the report.
Step 4: Now, press F4 shortcut key to post adjustment/payment voucher for GST and post entries for rcm payment, rcm to regular tax adjustment, input/output adjustment, Cross adjustment then regular gst payment.
How can I view ITC reverse charge entries in GSTR-B using BUSY?
To view Input Tax Credit (ITC) reverse charge entries in the GSTR-3B report using BUSY, follow these steps:
Step 1 : Navigate to the Display section or the GST Reports section within the software.
Step 2: Look for the GSTR-3B report option
Step 3: Open the GSTR-3B report. Step 4 : In the GSTR-3B report, there should be a section specifically for reverse charge entries. Step 5 : Check section 4 eligible ITC in GSTR 3B
How do I take out and share external reports in BUSY?
Here's a step-by-step guide on how to take out and share external reports:
Step 1:Navigate to the Display Section.
Step 2: Choose the specific report you want to export.
Step 3: specify the date range, filters to the specific report . Step 4: Select the desired format for export (e.g., PDF, Excel, Word).
Step 5: You can print the report on paper
Step 6: If you want to send email , then click on the email.