Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How do I post GST adjustment entries properly on a monthly basis?
To post GST adjustment entries properly on a monthly basis have to follow below steps:
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: Check the Tax Payable with payment details columns.
Step 5: Under above column first thing that your IGST, CGST and SGST Balance Tax Payable and Ledger Balance should be matched with similar.
Step 7: Check if anyone of these ledger balance is showing into Credit so you have to make GST adjustment entry.
Step 8 Then press F4 Post the adjustment entries which is Input output adjustment then Cross adjustment.
Step 9: If any credit still remaining in the columns then post regular gst payment voucher.
I want to adjust my IGST input credit against my output IGST liability. How can I do this adjustment entry in BUSY?
Here's a general process for cross-utilization of input IGST credit against output CGST and SGST liability in BUSY:
Step 1: Open the GST Summary section
Step 2: While in the GST Summary, press the F4 key on your keyboard.
Step 3: Select Adjustment or Payment Option
Step 4: A message box will appear, allowing you to select the type of voucher you want to post.
Step 5 : The available options typically include Cross Adjustment.
Step 6: Select this option when you need to make adjustments to your GST data.
Step 7: After selecting the voucher type, you'll be prompted to enter the necessary details. Step 8: Once you've entered the required information, save and post the voucher.
Step 9: This will update your GST ledger and balances based on the adjustments or payments made.
I am trying to generate the GST report for a particular month, but it's not showing any data. What could be the reason, and how can I fix this?
to generate the GST report for a particular month follow these steps:
Step 1: Once you are logged into the software, look for the Display menu.
Step 2: Within the Display menu, you should find a submenu or option related to GST Reports.
Step 3: Click on it to proceed.
Step 4: In the GST Reports section,Look for the option labeled GST Registers
Step 5: Look for the Gst Sales register Report option, and click on it to access this specific report
Step 6: There is option to the open report Bill Wise / Item Wise / Combined .
Step 7: you can select as Bill wise option .
Step 8: This report will display a breakdown or bifurcation of the output tax data based on tax rates
Step 9: specify the date range
I want to identify transactions that are reported in my GSTR- but not showing up in my GSTR-A. What is the process to do this reconciliation?
Here's a step-by-step process to help you identify transactions that are reported in your GSTR-1 but not showing up in your GSTR-2A:
Step 1: GSTR-1: This is your outward supply return. It contains details of all your sales transactions.
Step 2: GSTR-2A: This is the auto-generated purchase return that is populated based on the GSTR-1 filings of your suppliers.
Step 3: Export your GSTR-1 data in the required format (typically Excel or CSV).
Step 4: Download your GSTR-2A data as well from thetransaction menu and then GST misc. Utilities . Select download GSTR Data.
Step 5: Compare the invoice numbers from GSTR-1 and GSTR-2A
Step 6 : Compare data party wise in reports
Step 7: Once the missing invoices are reflected in your GSTR-2A, claim the Input Tax Credit based on these invoices.
I am unable to generate GST reports in BUSY. How can I resolve this?
In BUSY, We can check the GST Reports through the below Steps :
Step 1: Display Menu
Step 2: GST Reports
Step 3: GST Summaries - Here we can see GST report date wise, Annually, Party wise , Item wise Sale and Purchase Type wise.
Step 4: GST Returns - Here we can see GSTR 1, GSTR 2, GSTR 3B, GSTR 6,GSTR 9 reports with ereturn option.
Step 5: GST Register - Here we can see Sales, Purchase, GSTR 2A , GSTR 2B, ITC Tagging and Electronic Cash and Credit Ledger.
Step 6: GST Other Reports - Here we can see Tax rate wise output, Purchase and Expense wise ITC, Bill wise ITC Reversal , HSN Summary and Input Available against stock.
Step 7: GST Audit Report - Here we can see report for error.
I want to generate my ITC claim register with HSN codes. How can I do this?
To generate my ITC data with HSN codess, follow these steps:
Step 1: Launch BUSY GST Software.
Step 2: Go to the Display menu.
Step 3: Select GST Reports.
Step 4: Choose GST Summary from the available options.
Step 5: Within the GST Summary report, you will find options for various sales reports, including Item Wise Sales Summary, Party Wise Sales Summary, and Sale Type Wise Sales Summary.
Step 6: Select the relevant sub-report based on your requirements. For GST summary, you might choose Item Wise Sales Summary or another appropriate option that provides the bifurcation of tax rates.
Step 7: In this selected report, you will find the bifurcation of sales data based on different tax rates, including the GST summary.
Step 8: Click Print to generate a hard copy of the report.
I want to analyze my GST paid and GST receivable. What report gives this information?
To analyze my GST paid and GST receivable, follow these steps:
Step 1: Launch BUSY GST Software.
Step 2: Go to the Display menu.
Step 3: Select GST Reports.
Step 4: Choose GST Summary from the available options.
Step 5: Within the GST Summary report, you will find options for various sales reports, including Item Wise Sales Summary, Party Wise Sales Summary, and Sale Type Wise Sales Summary.
Step 6: Select the relevant sub-report based on your requirements. For GST summary, you might choose Item Wise Sales Summary or another appropriate option that provides the bifurcation of tax rates.
Step 7: In this selected report, you will find the bifurcation of sales data based on different tax rates, including the GST summary.
Step 8: Click Print to generate a hard copy of the report.
I am unable to export my ITC data with HSN codes. What should I do?
To export my ITC data with HSN codess, follow these steps:
Step 1: Launch BUSY GST Software.
Step 2: Go to the Display menu.
Step 3: Select GST Reports.
Step 4: Choose GST Summary from the available options.
Step 5: Within the GST Summary report, you will find options for various sales reports, including Item Wise Sales Summary, Party Wise Sales Summary, and Sale Type Wise Sales Summary.
Step 6: Select the relevant sub-report based on your requirements. For GST summary, you might choose Item Wise Sales Summary or another appropriate option that provides the bifurcation of tax rates.
Step 7: In this selected report, you will find the bifurcation of sales data based on different tax rates, including the GST summary.
Step 8: Click Print to generate a hard copy of the report.
What is the process to check BB registered parties and BC unregistered parties separately?
To process to check B2B registered parties and B2C unregistered parties separately in BUSY, follow these steps:
Step 1: Once you are logged into the software, look for the Display menu.
Step 2: Within the Display menu, you should find a submenu or option related to GST Reports.
Step 3: Click on it to proceed.
Step 4: In the GST Reports section,Look for the option labeled GST Registers
Step 5: Look for the Gst Sales register Report option, and click on it to access this specific report
Step 6: There is option to the open report Bill Wise / Item Wise / Combined .
Step 7: you can select as Bill wise option .
Step 8: This report will display a breakdown or bifurcation of the output tax data based on tax rates
Why is there a mismatch in sale amounts with GST reports?I need help understanding how to properly match amounts?
To find mismatch in sale with GST reports,you can follow some steps:
Step 1: Go to the Display and click on GST reports .
Step 2: Now click on GST Audit Reports and then click on Reconcile Accounts and GST.
In this report you can check your data as per GST and what you have entered in BUSY.
Alternately if report is clear then you need to check your sale difference in short range With other report for sale in GST Report if it is mismatch.you can check month wise data then you will get period in which mismtch will be exist and then you can check in short range of date with in that mismatch period and then at last you will find then date where mismatch is coming then you check your entries and rectify them.
