Frequently Asked Questions

To transfer the tax liability to the payable account correctly in BUSY as per GST requirements, you can follow these steps:
 1. Create a separate account for tax payable under Current Liabilities.
 2. Record a journal entry to transfer the tax liability amount from the tax account to the payable account.
 3. Make sure to select the appropriate tax code and tax rate while recording the entry.
 4. This will show the tax liability as a payable amount in the payable account.
 5. When making the actual payment, clear the tax liability against the Cash/Bank account.
 By following these steps, you can transfer the tax liability to the payable account correctly in BUSY as per GST requirements.

To get accurate ITC in BUSY, you can use monthly ITC tagging option and claim the ITC as per GSTR2B. To do the same follow these steps:
 Step 1: Go to the Transactions menu and select GST Misc. Utilities. 
 Step 2: Choose Montly ITC Tagging as per GSTR-2A / 2B and enter the period then open the report. 
 Step 3: 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? 
 The report will generate will all the ITC that you have tagged in the selected period.

Here's how you can identify and fix such discrepancies:
 Step 1: Reconciliation helps identify discrepancies that may be due to rounding errors or other issues.
 Step 2: Double-check the accuracy and completeness of data entry
 Step 3: When recording transactions, ensure that you apply consistent rounding rules. Step 4: Duplicate entries can lead to discrepancies in account balances.
 Step 5: Pay attention to decimal places in your transactions.
 Step 6: Small discrepancies can also occur due to bank charges, interest, or fees.
 Step 7: If you have outstanding checks or deposits that have not cleared your bank account, these can cause discrepancies. Step 8: Confirm that receipts and payments received or made in cash or checks are accurately recorded

To address this issue and ensure that your inventory numbers are updated correctly, you can follow these steps:
 Step 1: Double-check all data entries related to inventory transactions, including purchases, sales, returns, and adjustments.
 Step 2: Verify that the transaction dates are accurate.
 Step 3 : Ensure that you are using the correct voucher types for inventory transactions
 Step 4: Check your inventory valuation method (FIFO, LIFO, Weighted Average, etc.)
 Step 5: Assigned inventory items to the correct stock groups and categories. 
 Step 6: Review the stock item masters to ensure that item details are accurate and up-to-date. 
 Step 7: Remove any duplicate transactions.
 Step 8: Pay close attention to opening balances, purchases, sales, returns, and adjustments.

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.

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.

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.

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 .

You can check the tax amount which you have to pay to the government in each month.For the GST input tax credit amount, You have to pass the journal entry for adjusting the GST input with GST Output month wise so that ledger balance properly get maintained in BUSY.
 Pls follow the below steps.
 Step 1: Click on Display menu
 Step 2: Then GST Reports
 Step 3: Then GST Summaries
 Step 4: Then GST Summary and select the date range 
 Step 5: Then press the shortcut key F4 and select the Input Output adjustment from the popup window.After that the journal voucher get post automatically where DEBIT the GST output Account and CREDIT the GST input Account.

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