Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How do I customize columns in the GST report in BUSY?
If you want to filter your Purchase Register report in BUSY based on purchase types like GST, Non-GST, 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'm getting an error while trying to tag invoices for input tax credit in BUSY. How can I resolve this?
If you are encountering an error while trying to tag invoices for Input Tax Credit (ITC) in BUSY Here are steps to help you resolve the problem:Here are steps to help you resolve the problem:
Step 1:Review the error message or messages that you're receiving.
Step 2: Double-check the accuracy and completeness of the input data in the invoices.
Step 3: Verify that the invoices you're trying to tag for ITC meet the eligibility criteria as per the GST Step 4: Compare the invoices you're trying to tag for ITC with the data in your GSTR-2A or GSTR-2B .
Step 5: Duplicate tagging can result in errors.
Step 6:. You can check your credit ledger balance within the data.
I am unable to see a particular voucher entry or amount reflected correctly in the reports. What should I do?
there are several steps you can take to troubleshoot and resolve the issue: ,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
Why is my GST return summary showing me a tax liability even though I have a credit balance in my ledger? How can I get this corrected?
To address this issue and correct the GST return summary, consider the following steps:
Step 1: Confirm that all debit and credit entries are correctly recorded and posted in your ledger.
Step 2: Ensure that ITC entries are correctly posted.
Step 3: Check that the tax rates, GSTIN (Goods and Services Tax Identification Number), and other details are correctly configured.
Step 4: Ensure that you are generating the summary for the relevant period.
Step 5: Confirm that your BUSY software is correctly configured to connect to the GST portal and fetch data.
Step 6: If you've made any changes or adjustments to previous returns, ensure that these have been accurately reflected in your ledger and the GST return module.
My GST report totals/values do not match the purchase register. What could be the reason for this mismatch? How can I get the values to match?
The specific steps may vary depending on the software you're using, but here's a general guideline:
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 Purchase register Reports.
Step 3: Click on it to proceed.
Step 4: In the Purchase register Reports section,Look for the option labeled show bifurcation of tax amounts .
Step 5: You can add discount by adding custom column .
Step 6: Review the Bifurcation of Tax Rate Wise and Genate the report .
Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates.
How can I properly reconcile my GST liability and input tax credit in my accounting software?Why is my reverse charge mechanism (RCM) tax credit not getting reflected under CGST and SGST?
To reconcile GST input tax in GSTereturn, please follow below mentioned steps:
Step 1: Go to display menu and then GST Summary
Step 2: Ensure your balance tax payable and ledger balance both value should be matched.
Step 3: Press F4 to adjust the CGST,SGST, IGST output balance to adjust with input balance.
Step 4: Press F4 for adjusting output bal(if any) with input balance of other head.
Step 5: Debit balance of all heads wil carry forward in next month automatically and credit balance, you need to make payment at the end of month in GST payable account.
For reflecting the RCM credit under CGST and SGST, post adjustment entry of RCM to regular tax adjustment.
I entered a credit note in BUSY but it is not appearing in my GSTR-B report. What do I need to do to get credit notes to be reflected correctly?
a credit note in BUSY but it is not appearing in my GSTR-3B report Here's a step-by-step guide to ensure their proper reflection:
Step 1: Create Credit Notes from transaction menu
Step 2 : Assign the appropriate tax rates to credit notes, especially if they involve GST.
Step 3 : Navigate to the Display section, and look for the GST Returns - GSTR-3B report.
Step 4 : Report based on the relevant tax period (usually a month or a quarter)
Step 5 : When you generate the GSTR-3B report, it should automatically include the credit notes
Step 6: Carefully review the GSTR-3B report to ensure that the credit notes are accurately reflected in the report.
I am trying to reconcile sales amounts from different reports in BUSY. What are some common causes for discrepancies between report totals that I should check?
To reconcile sales amounts from different reports in BUSY.here are the steps :
Step 1: Open BUSY
Step 2: ccess the Reports from display menu .
Step 3: Look at the sales totals in each report
Step 4: Make sure you're looking at the same date range in all reports.
Step 5: Check if all sales transactions are included in each report. Step 6: Verify if any canceled or returned orders are affecting the totals.
Step 7: Ensure that taxes and discounts are calculated Step 8: If you deal with multiple currencies, check if the currency conversion rates are the same in all reports.
Step 9: After making changes, run update master balance utility from Housekeeping Mneu .
I'm encountering issues generating GST reports in BUSY. What steps can I take to resolve this?
To resolve issues with generating GST reports in BUSY, you can try the following steps:
Step 1 : Ensure that you have the latest version of the software installed.
Step 2 : Check your internet connection to ensure it is stable.
Step 3 : Clear the cache and cookies of your browser.
Step 4 : Restart your computer and relaunch the software.
Step 5 : Verify that you have entered the correct GSTIN and other relevant details.
Step 6 ; Double-check the settings and configurations for generating GST reports.
Step 7 : If still issue facing , you can you can contact to our support helpline no i.e. 8282828282 or 40964096 or also can email us at support@busy.in
Why are HSN codes and item names not showing up together in the purchase/sales registers?
In BUSY, you can't see the register with both items and HSN codes together by default. To do that, follow these steps:
Step 1 : Go to the Display menu and choose GST Reports.
Step 2 : Select GST Register and then choose either Sales Register or Purchase Register.
Step 3 : Within the Register, pick the option to view the report based on Bill-Wise, item-Wise, HSN Code-Wise.
Step 4 : Execute the report and use the Custom Column option to create a new format. Add a new column for the HSN code.
Step 5 : Now,Generate the report again using the format you just created. This will display the Sales/Purchase Register with Item and HSN Code details.