Frequently Asked
Questions

Q: I want to export GST reports with tax rate wise breakup. How can I do that?

To export GST report with tax rate wise breakup in BUSY, you can view our GST summary report of GST reports from the display menu. Please follow the below steps: Step 1: Go to Display menu Step 2: Click on GST report Step 3: GST Summary while opening the GST summary report, select the desired month range and specify Y for show tax rate wise bifurcation to view the taxable amount and tax rate wise bifurcation Step 4:Then click on the export option given at the top of the report and then select format for export like excel pdf etc. Step 5: Specify the export location then export.

Q: I want to claim deductions for insurance premiums paid. How can I do this on BUSY?

If you have paid Insurance premium now want to claim some deduction then you need to enter journal entry for it in BUSY.If deduction is about input tax then you can specify status for claim in Monthtly ITC Tagging option in BUSY and to tagging you can follow some steps: Stpe 1: Go to Transaction and click GST Mis.Utility. Step 2: Now click on Monthly ITC Tagging option Step 3: Now select Monthly ITC Tagging as per GSTR 2A or 2B Step 4: Then Select option as per your requirement in report and specify period and click on OK option. Step 5: Now click F4 key and specify the status for your entry.

Q: I want to reconcile canceled invoices. What is the process to do this in BUSY?

Here's a general process you can follow: Step 1: Identify Canceled Invoices from audit trail report Step 2 : open the canceled invoices in the transaction list Step 3: need to create an adjusting entry or mark the invoices as canceled. Step 4 : To cancel invoice press ALT+X Step 5: If the canceled invoices have already been included in GST returns (GSTR-3B) Step 6: Update GST Returns (GSTR-3B) Step 7: If payments were made for the canceled invoices, reconcile your bank statements Step 8: Check your entries against the GST portal to ensure that the canceled invoices are correctly reflected in your GST returns (GSTR-1 and GSTR-3B).

Q: I am unable to match the sales totals between my summary and detailed sales reports in BUSY. What could be the potential reasons for this?

Here are some steps you can take to identify and fix the cause of the problem: Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details. Step 2: Double-check that the recorded information matches the actual invoice. Step 3: Check for Duplicate Entries Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. step 5: Check for invoice date is correctly entered Step 6 : Reconcile Bank Statements Step 7: Review Tax Calculations Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Q: Some of my sales/purchase invoices are not getting recorded properly in the registers. What should I check to identify and fix the cause?

Here are some steps you can take to identify and fix the cause of the problem: Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details. Step 2: Double-check that the recorded information matches the actual invoice. Step 3: Check for Duplicate Entries Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. step 5: Check for invoice date is correctly entered Step 6 : Reconcile Bank Statements Step 7: Review Tax Calculations Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Q: Why is the sales amount different in the GST summary report versus the sales list report when looking at the same time period?

Here are some steps you can take to identify and fix the cause of the problem: Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details. Step 2: Double-check that the recorded information matches the actual invoice. Step 3: Check for Duplicate Entries Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. step 5: Check for invoice date is correctly entered Step 6 : Reconcile Bank Statements Step 7: Review Tax Calculations Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Q: I did not run the update master balances and GST summary processes. Could this be why my reports are showing incorrect amounts?

Here are some steps you can take to identify and fix the cause of the problem: Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details. Step 2: Double-check that the recorded information matches the actual invoice. Step 3: Check for Duplicate Entries Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. step 5: Check for invoice date is correctly entered Step 6 : Reconcile Bank Statements Step 7: Review Tax Calculations Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Q: I am confused about how my taxable value is being calculated in BUSY. What factors determine the taxable value for GST?

The taxable value for GST is calculated based on the following factors: Step 1: The primary factor is the total amount of the transaction Step 2: The taxable value is calculated as a percentage of the transaction amount based on the applicable GST rate. Step 3: Some additional charges or expenses may be included or excluded from the taxable value. Step 4: If you give a discount, it may reduce the taxable value. Step 5: The taxable value includes the amount you paid for those goods or services. Step 6: You may need to make adjustments for returns, bad debts, or other circumstances. These adjustments can change the taxable value.

Q: I am unable to view my vouchers for BB invoices in the software. What should I do to access them?

To view my vouchers for B2B invoices in the software.. 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 Returns. Step 5: Look for the Gstr 1 option, and click on it to access this specific report Step 6: There is option to the open report Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates

Q: I need the March month GST expenses to reflect accurately in the balance sheet. What should I do to ensure this?

To ensure that the March month GST expenses accurately reflect in the balance sheet, you need to follow the general steps : Step 1; Verify that the date of the transactions related to GST expenses is correctly entered as per the month of March. Step 2: Differentiate between input and output GST, and allocate the expenses to the appropriate GST liability accounts. Step 3: Select the Date Range in particular report Step 4 : Use filters are filters available for the report. Step 5: Double-check the transaction dates for GST entries in March. Step 6: Look for options related to subtotals or groupings in your report.

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I want to export GST reports with tax rate wise breakup. How can I do that?

To export GST report with tax rate wise breakup in BUSY, you can view our GST summary report of GST reports from the display menu.
 Please follow the below steps:
 Step 1: Go to Display menu 
 Step 2: Click on GST report
 Step 3: GST Summary while opening the GST summary report, select the desired month range and specify Y for show tax rate wise bifurcation to view the taxable amount and tax rate wise bifurcation
 Step 4:Then click on the export option given at the top of the report and then select format for export like excel pdf etc. 
 Step 5: Specify the export location then export.

I want to claim deductions for insurance premiums paid. How can I do this on BUSY?

If you have paid Insurance premium now want to claim some deduction then you need to enter journal entry for it in BUSY.If deduction is about input tax then you can specify status for claim in Monthtly ITC Tagging option in BUSY and to tagging you can follow some steps:
Stpe 1: Go to Transaction and click GST Mis.Utility.
Step 2: Now click on Monthly ITC Tagging option
Step 3: Now select Monthly ITC Tagging as per GSTR 2A or 2B 
Step 4: Then Select option as per your requirement in report and specify period and click on OK option.
Step 5: Now click F4 key and specify the status for your entry.

I want to reconcile canceled invoices. What is the process to do this in BUSY?

Here's a general process you can follow:
 Step 1: Identify Canceled Invoices from audit trail report 
 Step 2 : open the canceled invoices in the transaction list
 Step 3: need to create an adjusting entry or mark the invoices as canceled. 
 Step 4 : To cancel invoice press ALT+X
 Step 5: If the canceled invoices have already been included in GST returns (GSTR-3B)
 Step 6: Update GST Returns (GSTR-3B)
 Step 7: If payments were made for the canceled invoices, reconcile your bank statements
 Step 8: Check your entries against the GST portal to ensure that the canceled invoices are correctly reflected in your GST returns (GSTR-1 and GSTR-3B).

I am unable to match the sales totals between my summary and detailed sales reports in BUSY. What could be the potential reasons for this?

Here are some steps you can take to identify and fix the cause of the problem:
 Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details.
 Step 2: Double-check that the recorded information matches the actual invoice.
 Step 3: Check for Duplicate Entries
 Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. 
 step 5: Check for invoice date is correctly entered 
 Step 6 : Reconcile Bank Statements
 Step 7: Review Tax Calculations
 Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Some of my sales/purchase invoices are not getting recorded properly in the registers. What should I check to identify and fix the cause?

Here are some steps you can take to identify and fix the cause of the problem:
 Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details.
 Step 2: Double-check that the recorded information matches the actual invoice.
 Step 3: Check for Duplicate Entries
 Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. 
 step 5: Check for invoice date is correctly entered 
 Step 6 : Reconcile Bank Statements
 Step 7: Review Tax Calculations
 Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

Why is the sales amount different in the GST summary report versus the sales list report when looking at the same time period?

Here are some steps you can take to identify and fix the cause of the problem:
 Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details.
 Step 2: Double-check that the recorded information matches the actual invoice.
 Step 3: Check for Duplicate Entries
 Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. 
 step 5: Check for invoice date is correctly entered 
 Step 6 : Reconcile Bank Statements
 Step 7: Review Tax Calculations
 Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

I did not run the update master balances and GST summary processes. Could this be why my reports are showing incorrect amounts?

Here are some steps you can take to identify and fix the cause of the problem:
 Step 1: Ensure that you have entered all the necessary information correctly, including invoice numbers, dates, amounts, and vendor/customer details.
 Step 2: Double-check that the recorded information matches the actual invoice.
 Step 3: Check for Duplicate Entries
 Step 4: Ensure that payments or receipts related to these invoices have been properly recorded. 
 step 5: Check for invoice date is correctly entered 
 Step 6 : Reconcile Bank Statements
 Step 7: Review Tax Calculations
 Step 8 : Check the ledger balances of your vendors and customers to ensure that they match the recorded invoices.

I am confused about how my taxable value is being calculated in BUSY. What factors determine the taxable value for GST?

The taxable value for GST is calculated based on the following factors:
 Step 1: The primary factor is the total amount of the transaction
 Step 2: The taxable value is calculated as a percentage of the transaction amount based on the applicable GST rate.
 Step 3: Some additional charges or expenses may be included or excluded from the taxable value.
 Step 4: If you give a discount, it may reduce the taxable value.
 Step 5: The taxable value includes the amount you paid for those goods or services.
 Step 6: You may need to make adjustments for returns, bad debts, or other circumstances. These adjustments can change the taxable value.

I am unable to view my vouchers for BB invoices in the software. What should I do to access them?

To view my vouchers for B2B invoices in the software.. 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 Returns.
 Step 5: Look for the Gstr 1 option, and click on it to access this specific report
 Step 6: There is option to the open report 
 Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates

I need the March month GST expenses to reflect accurately in the balance sheet. What should I do to ensure this?

To ensure that the March month GST expenses accurately reflect in the balance sheet, you need to follow the general steps :
 Step 1; Verify that the date of the transactions related to GST expenses is correctly entered as per the month of March.
 Step 2: Differentiate between input and output GST, and allocate the expenses to the appropriate GST liability accounts.
 Step 3: Select the Date Range in particular report 
 Step 4 : Use filters are filters available for the report. 
 Step 5: Double-check the transaction dates for GST entries in March. 
 Step 6: Look for options related to subtotals or groupings in your report.

Frequently AskedQuestions