Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I am unable to understand why incorrect GST entries are getting generated automatically in the software. How can I avoid wrong postings?
To avoid incorrect GST entries generated automatically in BUSY, you should check the tax category and tax rate applied to the item or service being invoiced. Make sure they are correct and up-to-date. Additionally, double-check the GSTIN and other details of the party being billed to ensure accuracy.BUSY also show you the Warnings for the invalid tax rate and central and local transaction etc.if you select wrong Sale or Purchase Type or bill sundry.BUSY sense this error as per tax category that you have entered in item master and Party master details such as GSTIN,State etc. So do not avoid such warnings if its show warning try to rectify on that time and with this you can avoide incorrect GST entries.
The sales totals in my GST return do not match the totals in my profit and loss statement in BUSY. How can I align these?
If you are unable to match the purchase and sale amounts in the Summary report ,Here are steps to help you resolve the issue:
Step 1: Verify that the amounts, tax codes, and GST details are accurately entered.
Step 2: Make sure that invoices are correctly matched.
Step 3 : Run the Update master balance utility from House-Keeping menu . step 4: Ensure there are no duplicate entries that may be affecting the balance.
Step 5: Check the reporting period of the GST Summary report.
Step 6 : Update the GST Voucher Summary from house keeping menu . Step 7 :If the issue persists or is complex, consider consulting with a professional accountant or auditor who can review your records
How can I generate a detailed GST audit report with all the required fields like bill number, GST number, HSN code, quantity, rate, amount etc?
To generate a GST report with important details like date, voucher number, HSN code, quantity, GST rate, etc., follow these steps:
Step 1 : Go to the Display Menu and choose GST Reports.
Step 2 : Under GST Reports, select GST Registers. Here, you'll find options for Inward and Outward Supply Registers.
Step 3 : Specify the date range you're interested in and set Y in the Show Qty option.
Step 4 : Execute the report.
By following these steps, you'll be able to view the Inward or Outward Supply Register in the GST Reports section, providing you with the necessary information for your report, including date, voucher number, HSN code, quantity, and GST rate.
The software is auto-adjusting Input and Output Tax annually. I want it to only use the monthly payment data. What settings do I change?
To adjust Input and Output tax monthly basis, you can follow the below steps:
Step 1: Go to Display section then click on GST summaries option.
Step 2: Now choose GST summary then specify date range of particular month and open the report.
Step 3: You can press F4 key on GST Summary to post various GST Adjustment & GST Payment voucher. On pressing the F4 key, a message box appears in which you are required to select the option for which you want to post the voucher. If there is a credit balance, you will need to pay the tax to the government. Conversely, if there is a debit balance, it will be carried forward to the next month.
I need to check entries made in a particular past period for GST but am unable to filter by date. What should I do?
To filter entries by date for a specific past period in GST in BUSY, you can use the date range filter option in the GST reports section.But if you check GSTR Return report and there you are not able to find option for filter report on the basis of Date you can follow some steps:
Step 1: Go to the Administration and then click on Configuration.
Step 2: Now click on Feature and option and then click on GST VAT option.
Step 3: Now find the option for Return Filling Freq. and you can search by F3 short cut key and then specify Default and save the configuration and check GST reports.Now you can filter with date.
I want to tag bills in BUSY as pending or claimed for next tax period. How can I do this tagging of bills properly?
In BUSY you can use the Monthly ITC Tagging option to claim your pending ITC in GSTR-3B return. To do this you need to follow these steps:
Step 1: Open the Transactions menu and select GST Misc. Utilities.
Step 2: Choose Montly ITC Tagging as per GSTR-2A / 2B and enter the period then Select ITC Status as Pending.
Step 3: The report will show you all the pending transactions. You need to press F4 to change the status and select ITC Status as Claimed and mention the return period.
Step 4: Now, when you generate the GSTR-3B return set Y on Pick Relevant ITC from Monthly ITC Tagging?
Now GSTR 3B will show ITC according to tagging made.
How to use the monthly ITC feature in BUSY to link BUSY ITC with the submitted ITC claims.
In BUSY you can use the Monthly ITC Tagging option to claim your pending ITC in GSTR-3B return. To do this you need to follow these steps:
Step 1: Open the Transactions menu and select GST Misc. Utilities.
Step 2: Choose Montly ITC Tagging as per GSTR-2A / 2B and enter the period then Select ITC Status as Pending.
Step 3: The report will show you all the pending transactions. You need to press F4 to change the status and select ITC Status as Claimed and mention the return period.
Step 4: Now, when you generate the GSTR-3B return set Y on Pick Relevant ITC from Monthly ITC Tagging?
Now GSTR 3B will show ITC according to tagging made.
I am unable to generate separate reports for taxable and non-taxable purchases. How can I do this?
If you want to filter your Purchase Register report in BUSY based on purchase types like taxable and non-taxable, and so on,Here's how:
Step 1: Navigate to the Purchase Register or Purchase Invoice Register report.
Step 2: You will want to add a custom column for the GST Nature field.
Step 3: Add a custom column for the GST Nature field
Step 4: Specify the name of the column, and make sure it displays the GST type for each transaction
Step 5: After adding the custom column, apply filters to categorize the data based on the GST Nature field. Step 6: Generate the Purchase Register report with the applied filters to view transactions based on the purchase types you've defined.
I want to have different units (like bags and pieces) in my sales invoice alternate units section. However, the units are not reflected properly in the tax reports. How can I resolve this?
Alternate Unit in BUSY is refer to an item of havingTwo Unit with Conversion factor.
Pls Follow the below Steps for Alternate Unit:
Step 1: Administration
Step 2: Configuration
Step 3: Features & Options
Step 4: Inventory
Step 5: Enable the Alternate unit.
Step 6: Click on Configure option of Alternate Unit.
Step 7: Tick on option,If you want to change Alt Qty & Conversion Factor during voucher entry.
Step 8: Open the Item Master
Step 9: Mention the Main Unit & Alt Unit with Conversion Factor and Conversion Type.
Note : If Item is already used in voucher then we are not able to change the Alternate Unit.
Step 10 : Units are not showing under GST reports
The GST percentage being calculated in sales invoices is lower than what it should be based on government regulations. What should I do to resolve this?
If the GST percentage being calculated in sales invoices is lower than what it should be based on government regulations, you need to check the reasons below:
Step 1: You need to check the GST tax percentage as per the government regulations you require and apply it in your BUSY schedule. For this, you need to follow the below steps:
Step 2: Go to Administration, then select Masters, then select Tax Category, then select Modify, and select the tax category that you want to update.
Step 3: In the tax category master, you can update the tax percentage as per the government regulation in the changes in tax rates option. In this, you can update according to your update date.