Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I am trying to make adjustments to match GST credit and liability but it is impacting opening balances of next financial year. What should I do?
If GST adjustments are not done, the closing balances of GST credit and debit will carry forward to the next year in their respective ledger as opening balances. When making GST adjustments to reconcile GST credit and liability, the opening balance of the next year will affect. However, by making adjustments in the previous year, the ledger balances will accurately reflect the data, ensuring that the value appears correct.
I need to change some details in an older voucher that has already been filed. Is there a way to edit vouchers that have been frozen?
need to change some details in an older voucher that has already been filed , we have that option but if you filed GST return then we suggest do not modify that voucher because then your GST data and books data will be mismatched but still you want to edit freez voucher then you can unfreez them from utilities option under administration there you can find data freezing option.
Is there a way to view my ITC claims which i have tagged in BUSY?
Yes, you can view your ITC claims which you have tagged in BUSY. To view this report follow the below steps:
Step 1: Go to display menu then select gst reports option and click on gst registers.
Step 2: Select ITC claimed register then select either party wise or date wise as required and enter the period.
Step 3: Select ITC status as claimed and can view the report of claimed ITC.
How can I differentiate between BB and BC Large supplies in the new GSTR- report?
If you want separate reports for B2B (business to business) and B2C (business to customer) sales in BUSY software, follow these steps:
Step 1: Open the GST reports in BUSY. Step 2: Go to GST returns and select GSTR-1. Step 3: Inside the GSTR-1 return, you'll find different sections, including B2B and B2C. Step 4: You can easily get individual reports for B2B and B2C sales from these sections.
How can I troubleshoot issues if my BUSY reports are not matching government GST reports?
My BUSY reports are not matching government GST reports , you can
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.
How do I correctly apply different GST rates to items in a single invoice?
To apply multiple tax rates to a single product., please follow the steps :
Step 1: Enter the new sales or purchase transaction
Step 2: Enter the date and other relavant information
Step 3: Sleect the multirate sales or purch type in the invoice
Step 4: apply multi tax rate bill sundry ij the voucher or press F$ to apply tax
Step 5: Save the voucehr
I am having problems reconciling GST returns with books of accounts. What are the possible reasons for this?
if you have facing problems to reconcile GST return with books of accounts so there is multiple reasons for that ,
1. some of invoice from books is missing as per GST return data
2. mismatch in taxable value between BUSY data and GST data
3. mismatch in GST value between BUSY data and GST data
3. after GST return filing some changes done in BUSY books entries
Why is the total ITC amount showing my purchases and expenses combined in BUSY? I need them separate.
If you want to generate separate figurs for both your purchases and expenses, follow these steps:
Step 1 : Open the Display Menu and choose GST Report.
Step 2 : Within GST Report, pick GST Other Report and select Purchase/Expense-Wise ITC.
Step 3 : Choose the date range and any other relevant options, then run the report. This will provide you with separate figures for your purchases and expenses.
I want to apply multiple tax rates to a single product. What is the process to do this?
To apply multiple tax rates to a single product., please follow the steps :
Step 1: Enter the new sales or purchase transaction
Step 2: Enter the date and other relavant information
Step 3: Sleect the multirate sales or purch type in the invoice
Step 4: apply multi tax rate bill sundry ij the voucher or press F$ to apply tax
Step 5: Save the voucehr
I want to tag my invoices for ITC claim. How can I do tagging for all pending vouchers together?
To tag all pending vouchers together for ITC claim then follow the below steps.
Step 1: Click on Transactions
Step 2: Then GST Misc. Utilities
Step 3: Then Monthly ITC tagging report as per GSTR 2A or 2B
Step 4: Then open the required, here all your purchase vouchers will show. Select the voucher and change the status from pending to claim by pressing the F4 shortcut key.