Frequently Asked
Questions

Q: The tax amounts in the BC section do not match between the invoice and HSN report in BUSY. How can I troubleshoot and resolve this discrepancy?

To troubleshoot and resolve the tax amount mismatch between B2C section and HSN report in BUSY, you need to check if Step 1 : The tax rates are accurately applied to the products in the invoices. Step 2 : Also, ensure that the tax amount is deducted automatically from the product rate in the invoices. Step 3 : You can also check the GST summary report and purchase bills to identify any discrepancies.

Q: How can I claim ITC for a debit note in a month later than when I received the debit note? What is the process for that?

here are the process for ITC tagging in BUSY : Step 1: Go to Tansaction menu Step 2: Click on Gst Misc. Utlities Step 3: Then click on monthly ITC tagging as per GSTR 2A / 2B Step 4 : Select Partywise or voucherwise Step 5 : In report view enable show previous year transaction . Step 6 : Select the entry and press F4 to change the status

Q: I am unable to import bank statements into BUSY for reconciliation. It shows an error while importing. How can I troubleshoot and fix this error?

To import bank statements into BUSY, this option is not available. To reconcile your accounts in BUSY, follow these steps: Step 1: Open BUSY and navigate to the Displaysection. Step 2: Choose the Bank Reconciliation you wish to reconcile. Step 3: Click on the Show UnCleared Entryoption. Step 4: Select the Bank Account and specify the date range for statement reconciliation. Step 5: Press the F4 key to clear the transactions on your bank statement.

Q: I am unable to reconcile the GST/tax amounts between the invoice and GSTR report in BUSY. What should I do to fix this?

To reconcile the GST/tax amounts between the invoice and GSTR report , you can follow below steps : Step 1 : CLick on transactions Step 2 : GST misc utilities Step 3 : Download and Reconcile GSTR JSON Data option Step 4 : This feature allows you to download the 2A and 2B GSTR files from the government portal and reconcile them with the data in your purchase register to identify any mismatches.

Q: I want to adjust GST payments for inter-state transactions made in June in the July GST returns. How can I do this adjustment?

for adjust GST payments for inter-state transactions made in June in the July GST returns then follow these steps step 1: go to the GST summaries under display menu step 2: then open GST summay step 3: select relevant dates and other options step 4: after open report you can press F4 for auto regular GST payment step 5: select series and relevant date for posting entry and save it .

Q: I issued a debit note but it is not showing up in the GST summary report. What could be the reason for this?

If you issued a debit note but it's not showing up in the GST summary report,please follow the steps : Step 1: Check for any data entry mistakes when creating the debit note Step 2: Verify if the debit note has been correctly matched with the original invoice Step 3: Check the GST nature of the debit note . Step 4: Verify if the debit note has been correctly matched with the original invoice

Q: What is the process to update and link GST number for a customer or vendor after their account is created in the system?

To link GST Number of a customer then you need to follow these simple steps: Step 1. Go to Administration, then Master. Step 2. Click on Account and select Modify. Step 3. Choose the Party Name you want to update the GST Number for. Step 4. Edit the GST Number as needed and save the changes in the master to apply them. This process will help you link the GST Number for any existing party.

Q: I want to adjust the tax liability for a canceled invoice. What is the correct procedure for adjusting tax liabilities for canceled invoices in BUSY?

Tax liability is automatically adjusted when voucher got cancel. For adjusting tax liability of the cancel voucher, you need to post credit note of the liability raised. Further, please follow below mentioned steps for voucher posting. Step 1 : Go to transaction tab and click on add credit note w/o. Step 2: Debit your Party and Tax account & credit your purchase account. Step 3: Specif orginal voucher number and date of the invoice.

Q: My cash, bank, and external balances are all tallying but still there is a variation in my balance sheet. What can cause this?

Here are some steps and causes: Step 1: Unpaid bills or outstanding liabilities that haven't been recorded in your books Step 2: Make sure you've accounted for all assets, including prepaid expenses or assets in transit. Step 3: Depreciation expenses need to be accounted for in your financial statements. Step 4: Check for any corrections or adjustments made to previous periods. Step 5: Ensure that all financial transactions, including income, expenses, and journal entries

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The tax amounts in the BC section do not match between the invoice and HSN report in BUSY. How can I troubleshoot and resolve this discrepancy?

To troubleshoot and resolve the tax amount mismatch between B2C section and HSN report in BUSY, you need to check if 
 Step 1 : The tax rates are accurately applied to the products in the invoices. 
 Step 2 : Also, ensure that the tax amount is deducted automatically from the product rate in the invoices.
 Step 3 : You can also check the GST summary report and purchase bills to identify any discrepancies.

How can I claim ITC for a debit note in a month later than when I received the debit note? What is the process for that?

here are the process for ITC tagging in BUSY : 
 Step 1: Go to Tansaction menu 
 Step 2: Click on Gst Misc. Utlities 
 Step 3: Then click on monthly ITC tagging as per GSTR 2A / 2B
 Step 4 : Select Partywise or voucherwise 
 Step 5 : In report view enable show previous year transaction . 
 Step 6 : Select the entry and press F4 to change the status

I am unable to import bank statements into BUSY for reconciliation. It shows an error while importing. How can I troubleshoot and fix this error?

To import bank statements into BUSY, this option is not available. To reconcile your accounts in BUSY, follow these steps:
 Step 1: Open BUSY and navigate to the Displaysection.
 Step 2: Choose the Bank Reconciliation you wish to reconcile.
 Step 3: Click on the Show UnCleared Entryoption.
 Step 4: Select the Bank Account and specify the date range for statement reconciliation.
 Step 5: Press the F4 key to clear the transactions on your bank statement.

I am unable to reconcile the GST/tax amounts between the invoice and GSTR report in BUSY. What should I do to fix this?

To reconcile the GST/tax amounts between the invoice and GSTR report , you can follow below steps : 
 Step 1 : CLick on transactions
 Step 2 : GST misc utilities
 Step 3 : Download and Reconcile GSTR JSON Data option 
 Step 4 : This feature allows you to download the 2A and 2B GSTR files from the government portal and reconcile them with the data in your purchase register to identify any mismatches.

I want to adjust GST payments for inter-state transactions made in June in the July GST returns. How can I do this adjustment?

for adjust GST payments for inter-state transactions made in June in the July GST returns then follow these steps 
 step 1: go to the GST summaries under display menu
 step 2: then open GST summay 
 step 3: select relevant dates and other options 
 step 4: after open report you can press F4 for auto regular GST payment 
 step 5: select series and relevant date for posting entry and save it .

I issued a debit note but it is not showing up in the GST summary report. What could be the reason for this?

If you issued a debit note but it's not showing up in the GST summary report,please follow the steps : 
 Step 1: Check for any data entry mistakes when creating the debit note
 Step 2: Verify if the debit note has been correctly matched with the original invoice
 Step 3: Check the GST nature of the debit note .
 Step 4: Verify if the debit note has been correctly matched with the original invoice

What is the process to update and link GST number for a customer or vendor after their account is created in the system?

To link GST Number of a customer then you need to follow these simple steps:
 Step 1. Go to Administration, then Master.
 Step 2. Click on Account and select Modify.
 Step 3. Choose the Party Name you want to update the GST Number for.
 Step 4. Edit the GST Number as needed and save the changes in the master to apply them.
 This process will help you link the GST Number for any existing party.

I want to adjust the tax liability for a canceled invoice. What is the correct procedure for adjusting tax liabilities for canceled invoices in BUSY?

Tax liability is automatically adjusted when voucher got cancel. For adjusting tax liability of the cancel voucher, you need to post credit note of the liability raised. Further, please follow below mentioned steps for voucher posting.
 Step 1 : Go to transaction tab and click on add credit note w/o.
 Step 2: Debit your Party and Tax account & credit your purchase account.
 Step 3: Specif orginal voucher number and date of the invoice.

I want to see input and output GST details for the date range of last financial year. Is it possible to generate this in BUSY?

to see input and output GST details for the date range of last financial year follow these steps 
 step 1: firstly you need to switch in last F.Y
 step 2: then go to the GST summary under Dispaly menu 
 step 3: open report for relevant date range and also there is other relevant details you can select as per required .
 step 4: there you can see input and output GST details.

My cash, bank, and external balances are all tallying but still there is a variation in my balance sheet. What can cause this?

Here are some steps and causes:
 Step 1: Unpaid bills or outstanding liabilities that haven't been recorded in your books Step 2: Make sure you've accounted for all assets, including prepaid expenses or assets in transit.
 Step 3: Depreciation expenses need to be accounted for in your financial statements.
 Step 4: Check for any corrections or adjustments made to previous periods.
 Step 5: Ensure that all financial transactions, including income, expenses, and journal entries

Frequently AskedQuestions