Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I want to modify the opening balance in my GST account for the current financial year. How can this be done in BUSY?
In BUSY, if you want to clear or reset the opening balances for previous years in your GST reports, you can follow these steps:
Step 1: Click on that ledger account to open it.
Step 2:option to reset or clear the opening balance.
Step 3: reset the opening balance .
Step 4 : After confirming, save the changes to the ledger account.
Note : Opening balance can reset only in begining FY.
The GST credit in my books does not match the portal. How do I adjust my books to align with the portal?
Here's the right way to do this:
Step 1 : If you have overstated your GST credit in your books
Step 2: Debit the GST Credit account. Credit the appropriate expense account.
Step 3: If you have understated your GST credit
Step 4: Credit the GST Credit account.Debit the appropriate expense account .
Step 5: Enter the correct amount of the adjustment
Step 6: Use the correct transaction date for the adjustment entry.
How can I get the item-wise breakup showing quantity, rate, GST etc for each item in a single invoice in BUSY?
To view item-wise breakup showing quantity,rate,gst etc please follow these steps:
Step 1: Go to display menu
Step 2: Then click on GST reports
Step 3: Then click on GST registers
Step 4: Then click on sales register or supply register as required
Step 5: By checking these report you can view item wise breakup and you can also add custom column if any column is not define
I want to switch to GST but prefer not to highlight GSTIN field. How can I do this in BUSY?
To switch to GST but prefer not to highlight GSTIN field,To enable GST in my BUSY
Step 1: Open your BUSY software and navigate to the configuration section.
Step 2: found in the Features and Option then GST/VAT Configuration menu
Step 3: Enable GST and configure it .
Step 4 ; But in the same company you cannot swith the VAT and GST
Step 5; Crete new company for GST configuration
I want the GST reports to show taxable value instead of sales/purchase amounts. What configuration do I need to change?
To show the taxable value instead of sale/purchase amounts in the gst reports you need to follow below given steps:
Step 1: Go to administration menu and select configuration from it.
Step 2: In configuration select feature and option and then click on GST/VAT tab.
Step 3: Then mention Y in the show sale/purchase amount as taxable amount in gst reports.
Step 4: Lastly click on save button to save the configuration.
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 .