Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How can I separate the GST component from total sales in BUSY?
To separate the GST component from the total sales in BUSY , 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 Registers from the available options.
Step 5: Within the GST registers report, you will find options for various sales and purchase registers , including supply Inward and supply outward reports
Step 6: Select the relevant sub-report based on your requirements.
Step 7: In this selected report, you will find the bill wise option to view the report . click it on .
Step 8: Click ALT+E to export of the report.
Step 9 : Select the specific format you want to export like excel , pdf , html and proceed .
What is ITC tagging and how do I use it in BUSY?
ITC tagging in BUSY is a feature that allows you to allocate
and claim input tax credit (ITC) for your purchases. It helps you track and
reconcile your ITC claims with the GST portal.
To use ITC tagging in BUSY you can follow below steps:
Step 1: Go to transaction menu
Step 2: Then click on gst misc. utilities option
Step 3: Then go to monthly ITC tagging as per gstr2a or 2b
Step 4: Then open the report for that month you want to change the status in BUSY
Step 5: Then after opening the report you have to press F4 shortcut key
Step 6: Then you will be able to update the status of your
itc to claimed or pending as per requirement and save it.
How can I resolve errors in making GST payments in BUSY?
Here's a general process for make GST payments 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 Regular GST Payment .
Step 6: Select this option when you need to make voucher entry 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.
What optional GST related compliances can be done on BUSY?
BUSY comply with all the GST related requirements and offers various features to manage your GST effectively. Some of these features are:
1. GST invoicing: You can create GST compliant invoices with all the necessary details such as GSTIN, HSN/SAC codes, tax rates, etc.
2. GST Returns: You can generate and file GST returns online from BUSY with ease and accuracy.
3. GST Reconciliation: You can reconcile your GST data with the data available on the GST portal and identify any mismatches or errors. You can also resolve any discrepancies and claim your input tax credit.
4. E way bill & E invoice generation: You can generate e way bills and e invoices from BUSY and sync them with the e way bill portal and the IRP respectively. You can also print them.
What are the steps to record a GST payment entry?
Here's a general process for make GST payments 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 Regular GST Payment .
Step 6: Select this option when you need to make voucher entry 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.
There seems to be a rounding off or small difference between the values in different accounting statements. Is this expected and how can I reconcile?
To reconcile Entries 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 difference in short range With other report if it is mismatch.you can check month wise by enter date then you will get period in which mismtch will be exist and then you can check in short range of date within that mismatch period and then at last you will find the date where mismatch is heppening then you check your entries and rectify them.
I want to link my sales data from BUSY to the GST portal. What are the steps I need to follow to do this successfully?
To link your sales data from BUSY to your GST portal, there are two options. Follow these steps:
Step 1: Go to the GST reports under the display menu.
Step 2: Open the GST returns report and click on GSTR1 e-return.
Step 3: Within the GSTR 1 e-return, you'll find multiple options for generating the e-return file. For uploading sales data to the portal, there are two options: Direct upload or JSON.
Step 4: If you select Direct upload, the data will directly be uploaded to your GST portal for return filing. Choosing JSON will prompt the software to generate a JSON file, which you'll need to manually upload on the GST portal.
Step 5: Select the relevant month and other options, then proceed accordingly.
I want to record a GST payment made in one month for the previous month. How should I enter the voucher date and period?
Here's a general process for make GST payments 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 Regular GST Payment .
Step 6: Select this option when you need to make voucher entry 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.
How should I record advance GST payments to properly reflect liability and payments in different months?
Here's a general process for make GST payments 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 Regular GST Payment .
Step 6: Select this option when you need to make voucher entry 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 want to generate GST payment challans from the software. Where can I find this option?
Here's a general process for make GST payments 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 Regular GST Payment .
Step 6: Select this option when you need to make voucher entry 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.
