Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I want to track expenses and generate expense reports in BUSY. What is the process for this?
To track expenses and generate expense reports in BUSY, you can follow these steps:
Step 1: Enter expense transactions into BUSY through journal entry.
Step 2: Assign each expense transaction with gst nature in the journal entry .
Step 3: Generate Expense Reports go to the display menu .
Step 4: select GSt Reports
Step 5: click on GST Audit report .
Step 6: Select GST Audit report .
I am seeing incorrect or invalid data in my HSN summary report. How can I correct this?
If you are seeing incorrect or invalid data in your HSN,you can take several steps to correct this issue:
Step 1: Check if there are any inaccuracies in the HSN codes, product descriptions, quantities, or values.
Step 2: Reconciliation as GSTR-1 and GSTR-3B, to ensure consistency and accuracy in your reporting.
Step 3: Double-check that you are using the correct HSN codes for your products.
Step 4: Upadate product descriptions from gst misc. utilities.
Why are some bills showing as pending in the GST return even though I have entered and uploaded them?
Some bills may show as pending in the GST return even though you have entered and uploaded them due to various reasons such as
Step 1 : Errors in data entry
Step 2 : Mismatch in party details
Step 3 : Incorrect HSN codes
Step 4 : Delayed filing of returns.
Step 5 : It is important to review and validate the entered data to ensure accuracy and resolve any errors or discrepancies.
Why am I not able to see invoice-level GST data for analysis? How can I get this detailed information?
To see invoice-level GST data for analysis in BUSY, you can use the ITC reconciliation reports. These reports allow you to reconcile GST data between BUSY and the GST portal at the invoice level. By reconciling ITC claims party-wise and date-wise every month, you can ensure that all invoices are accounted for and show up in the month they were booked. This will provide you with the detailed information you need for analysis.
I want to carry forward my unpaid GST liability to the next financial year. What is the process?
To carry forward unpaid GST liability to next financial year do follow some steps :-
Step 1: Create a account ledger with gst payable group under current liability.
Step 2: Then do pass journal entry with gst payment to government as gst nature and transfer the amount in gst payable account ledger.
Step 3: Then in next financial year Debited the Gst payable ledger and credit the payment mode ledger in accounting voucher.
What should I do if the pick relevant ITC tagging is not showing while opening the report?
If the pick relevant ITC from Monthly ITC Tagging option is not visible while opening the report, then might be the option of ITC tagging is disabled. To enable it follow these steps:
Step 1: Go to Administration and click on Configuration.
Step 2: Select Features / Options then click on GST / VAT tab.
Step 3: Here, you will see the option ITC Tagging Required, set Y on that to enable it.
I want to categorize my expenses as registered and unregistered. How can I do this in BUSY?
To categorize my expenses as registered and unregistered., you can follow these steps:
Step 1: Enter expense transactions into BUSY through journal entry.
Step 2: Assign each expense transaction with gst nature in the journal entry .
Step 3: Generate Expense Reports go to the display menu .
Step 4: select GSt Reports
Step 5: click on GST Audit report .
Step 6: Select GST Audit report .
What is the difference between the basic and standard versions of BUSY in terms of features?
In BUSY Basic version you get limited features Like in Basic version you are able to create invoices file GST returns Bank reconcilation, etc.
In BUSY Standard version you will get features like GSTR-2A and 2B Reconcilation, Reconcile GSTR-1 and 3B. Create Eway bill E-invoicing, production module, serial no., job work feature,etc.
Further you can check difference between them by change BUSY version from Company Tab. It will run in demo mode.
How can I find the tax amount for cash transactions made in BB sales in BUSY?
To find the tax amount for cash transactions made in B2B sales
Step 1: Go to Display and then click on GST reports.
Step 2: Now click on GST Registers and then click on supply outward Register
Step 3: Now click on option for One Party and specify Cash account name and filer on period and specify section B2B Invoices and enable other option as per your requiremen and check reports.
How can I get clarification on the voucher amounts and tax claims in the software?
For clarification of voucher amount you can check supply inward and outward register
1. Go in Display then go in GST Report
2. Then Go in GST Register and check supply outward and inward register
For Detail of tax claim please follow these steps:
1. Go in Transaction then Go in Gst miscallenous utility
2. Then Go in itc claim register and check how much itc you claim