Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
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
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.
What should I do if I want the reports to show the tax bifurcation for each item when multiple tax rates are applied?
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.
I am unable to view my GST return details in section B of the software. What should I do to resolve this?
There could be several reasons why BUSY unable to view GST return details in 3B report section.
Step 1: Check BUSY latest version and Release.
Step 2: Take Backup.
Step 3: Go to House - Keeping Menu.
Step 4: Click on Update Master Balances
Step 5: And Run update master balances & update voucher GST Summary.
Step 6: Go to Display Menu.
Step 7: Click on GST Reports option.
Step 8: Click on GSTR-3B and select required options Starting date & Ending date.
Step 9: Click on OK
Step 10: Verify GST Configuration Settings.
Step 11: Cross-Check Input Data. Double-check the data entered for GST transactions. Ensure that all relevant details are accurately recorded to reflect in the GSTR-3B report.
How do I record GST adjustment entries in my books if I am unable to claim past GST credit from the government?
Record GST adjustment entries in my books, please follow this steps :
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 input/Outpout 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 8: This will update your GST ledger and balances based on the adjustments or payments made.
