Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How can I filter the GST report in BUSY to only show BC sales?
To get bill-wise reports for your B2B and B2C sales from 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
I am unable to reconcile my GST return with my sales register. The sales amounts are different in GSTR and the profit & loss statement for the same period. How can I resolve this discrepancy?
Here's a step-by-step guide to help you resolve the discrepancy between GSTR1 and your profit & loss statement for the same period:
Step 1 : Start by carefully reviewing the GSTR1 return you filed for the relevant period.
Step 2: Ensure that you've accurately reported all sales transactions and their corresponding GST amounts.
Step 3: Confirm that all sales transactions are correctly recorded, and there are no missing or duplicate entries.
Step 4 : Verify that the GST liability on your profit & loss statement matches the total output tax reported in your GSTR1.
Step 5: Make sure that you have properly accounted for sales returns, discounts, and other adjustments in your sales register.
Step 6: Carefully compare the invoices and transaction details in your sales register with those in your GSTR1.
I want to reconcile my GSTR and profit & loss sales amounts for a particular month where there is a difference. How can I match the daily bills to find the cause of discrepancy?
Here's a step-by-step guide to help you resolve the discrepancy between GSTR1 and your profit & loss statement for the same period:
Step 1 : Start by carefully reviewing the GSTR1 return you filed for the relevant period.
Step 2: Ensure that you've accurately reported all sales transactions and their corresponding GST amounts.
Step 3: Confirm that all sales transactions are correctly recorded, and there are no missing or duplicate entries.
Step 4 : Verify that the GST liability on your profit & loss statement matches the total output tax reported in your GSTR1.
Step 5: Make sure that you have properly accounted for sales returns, discounts, and other adjustments in your sales register.
Step 6: Carefully compare the invoices and transaction details in your sales register with those in your GSTR1.
I am trying to view the sales register in BUSY but it is not showing bill-wise or item-wise details. How can I see the sales register with bill-wise and item-wise breakup?
To get bill-wise reports for your B2B and B2C sales from 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
What are the common reconciliation errors that can lead to incorrect GST liability, and how can I avoid them?
Common reconciliation errors and ways to avoid them include:
Step 1: Mismatch in GSTR-2A and GSTR-3B:
Step 2: Data entry mistakes such as errors, incorrect GSTINs, wrong invoice numbers, or incorrect tax rates can lead to incorrect GST liability.
Step 3: Reporting the same invoice or transaction multiple times can inflate your GST liability.
Step 4: Failure to report eligible invoices in your GSTR-3B can result in an understated ITC and higher GST liability.
Step 5: Late filing can lead to interest and penalty charges, increasing your GST liability.
Step 6: Incorrectly classifying products or services under the wrong GST rate can lead to discrepancies in GST liability.
Step 7: Failing to differentiate between exempt and non-exempt supplies can lead to incorrect GST liability.
Step 8: Failure to Account for Reverse Charges.
Can I view GST reports in BUSY according to bill date ranges? If so, what is the process?
To get bill-wise reports for your B2B and B2C sales from 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
I want to extract bill-wise reports in BUSY but the option seems to be missing. What should I do?
To get bill-wise reports for your B2B and B2C sales from 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
How do I settle vendor payments for purchases and generate a consolidated view of pending bills in BUSY?
To settle vendor payments for purchases and generate a consolidated view of pending bills in BUSY, follow these steps:
Step 1. Open BUSY and log in to your account.
Step 2. Navigate to the Displaysection or menu.
Step 3 :In the list of available reports, locate and select the Outstanding Bills payable Report.
Step 4 :Look for a filter or checkbox that allows you to exclude certain parties from the report. Step 5 :Choose the Party-Wisesorting option. This will arrange the outstanding bills by the parties or customers to whom they are owed.
Step 6 :Select the appropriate time frame or older daysbasis you want for the report.
Step 7 :After setting your preferences, click the Generateor Run Reportbutton to generate the Outstanding Bills payable Report based on your selected criteria.
How can I segregate exempted and taxable values in my reports when a single voucher contains both?
To generate show the tax bifurcation for each item when multiple tax rates sales reports BUSY, Here's how you can do it:
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 Other Reports
Step 5: Look for the Tax Rate Wise Output Tax Report option, and click on it to access this specific report
Step 6: Review the Bifurcation of Tax Rate Wise Output Tax Data and Genate the report . Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates.
The purchase invoice register report is not showing the purchase type (GST, IGST etc) columns. How can I add these columns to the report?
To add purchase type columns (e.g., GST, IGST, etc.) to the Purchase Invoice Register report in BUSY, you can 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 Other Reports
Step 5: Look for the Tax Rate Wise Output Tax Report option, and click on it to access this specific report
Step 6: Review the Bifurcation of Tax Rate Wise Output Tax Data and Genate the report . Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates.
