Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
Why are my invoice totals differing from the ledger totals for the same period? How can I reconcile this difference?
The invoice totals may differ from the ledger totals for the same period due to various reasons
To reconcile the error follow the steps
Step1 go to Display menu and click on GST reports
Step2 click on gst audit reports and select reconcile account and gst
Step3 select sales and select date range then ok
Step4 Here you can check in which voucher their is showing difference and which amount
Step5 enter on it and check the bill sundry master you have enter in voucher Is effecting the
sale amount or not and the option effects in cost of good sold were enable or not
If the bill sundry master tag with different ledger and not tag with sale then the amount can vary
Step6 check the item master mentioned in voucher does it tag with another ledger or not
on the option of specify sale account if its not tag in sale account then the invoice value and sale ledger value may be different
There seems to be a discrepancy between the input and output values in the software. Why could this be happening?
The discrepancy between the input and output values in the software could be happening due to misentries or incorrect tagging of accounts in sale or purchase type for input and output ledger.You need to check your sale or purchase type master and tagged account there in.You can check your GST Summary Where balance tax payable and ledger should be match for tax type and also show input and output amount .If not match then check in short range.You need to make sure about input output adjustment and cross adjustment should be correct otherwise you can delete your old adjustment and again make adjustments in GST Summary.You can follow some step to see GST Summary :
Step 1: Go to Display and then click on GST Reports.
Step 2: Now click on GST Summaries and then click on GST Summary
Step 3: Now specify Period and click on OK Option.
Step 4: If Balance tax payable and ledger balance is match then you can Press F4 and make input out adjustment and then cross adjust.
I make all my purchases on credit but my GST input is still lower. Why is there a difference between input and output GST?
The differences between the input and output values in the software could be happening due to misentries or incorrect tagging of accounts in sale or purchase type for input and output ledger.You need to check your sale or purchase type master and tagged account there in.You can check your GST Summary Where balance tax payable and ledger should be match for tax type and also show input and output amount .If not match then check in short range.You need to make sure about input output adjustment and cross adjustment should be correct otherwise you can delete your old adjustment and again make adjustments in GST Summary.You can follow some step to see GST Summary :
Step 1: Go to Display and then click on GST Reports.
Step 2: Now click on GST Summaries and then click on GST Summary
Step 3: Now specify Period and click on OK Option.
Step 4: If Balance tax payable and ledger balance is match then you can Press F4 and make input out adjustment and then cross adjust.
I want to download the report of bill-wise parties with their addresses and codes in Excel format. How can I do this from the software?
To download the bill-wise parties report in BUSY , 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 Registers
Step 5: Look for the Gst Sales register Report option, and click on it to access this specific report
Step 6: There is option to the open report Bill Wise / Item Wise / Combined .
Step 7: you can select as Bill wise option .
Step 8: This report will display a breakdown or bifurcation of the output tax data based on tax rates
Step 9: To export data from BUSY, you can go to the respective report (e.g., Accounts, Inventory, etc.), select the desired data, and use the Export (ALT+E) option to export it in a compatible file format such as Excel, CSV, PDF & Google Sheet.
I need to extract bill-wise details of parties into Excel for analysis. What is the process to download this data into Excel format from BUSY?
To download the bill-wise parties report in BUSY , 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 Registers
Step 5: Look for the Gst Sales register Report option, and click on it to access this specific report
Step 6: There is option to the open report Bill Wise / Item Wise / Combined .
Step 7: you can select as Bill wise option .
Step 8: This report will display a breakdown or bifurcation of the output tax data based on tax rates
Step 9: To export data from BUSY, you can go to the respective report (e.g., Accounts, Inventory, etc.), select the desired data, and use the Export (ALT+E) option to export it in a compatible file format such as Excel, CSV, PDF & Google Sheet.
I made a new purchase entry but it is not reflecting in the ITC claim in BUSY. What could be the reason?
If you have entered new purchase entries, but they are not showing under ITC in BUSY software, it might be due to the following reasons:
Option 1: You may not be using monthly ITC Tagging options, but while opening the GST summary or GSTR3B report, you have set Pick Relevant ITC from the monthly ITC Tagging option as Y.
Option 2: In the purchase voucher, the ITC eligibility may be set as Ineligible ITC section 17(5) or section 16(4), which is why it's not showing under Net ITC in the GST Report.
To correct this, follow the steps given below:
Step 1: Set pick ITC from Monthly ITC Tagging as N if you are not using the same option.
Step 2: Define the correct ITC Eligibility in the purchase voucher so that it would fall under ITC section.
If after troubleshooting, it still doesn't show under ITC, then run the update voucher GST summary and regenerate the dual voucher once after taking a backup.
By following these steps, it should fall under ITC.
The software is showing incorrect tax payment balances being carried forward. How can I correct this?
To correct incorrect tax payment balances in the software, you can follow these steps:
1. Review the tax payment entries for accuracy.
2. Identify any incorrect entries or discrepancies.
3. Delete the incorrect entries.
4. Re enter the correct tax payment amounts.
5. Ensure that the balances are updated and accurately reflected in the software.
Futher, you can follow the below steps for GST Adjustment entry in BUSY:
Step 1: Go to Display section then click on GST Reports and then select GST summaries option.
Step 2: Now choose GST summary then specify the date range of the 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 adjusting your input and output taxes and then cross adjustments after that you can pass payment entry if output is available.
Why are my marketing expenses not showing up in the GST reports I am generating? What should I check to ensure marketing expenses are captured?
To troubleshoot why marketing expenses are not appearing in generated GST reports in BUSY, you can follow these steps:
Step 1: Review Ledger Accounts: Ensure that the marketing expenses transactions are recorded in the appropriate ledger accounts. Check the ledger accounts related to marketing expenses and verify that they are correctly categorized under the relevant GST tax code.
Step 2: Transaction Entry Details: Verify the transaction entry date for marketing expenses. Ensure that the transactions fall within the specified date range for the GST report.
Confirm that other transaction details, such as the voucher entry and any additional information like ledger account tagging, are accurate.
Step 3: GST Tax Code: Double-check that the expenses are assigned the correct GST tax code. Verify that the tax code associated with marketing expenses aligns with the applicable GST rules.
Step 4: GSTR-2 Report Settings: While generating the GSTR-2 report, confirm the date range selected. Ensure that the date range includes the period for which you want to generate the report.
I want to upload invoices on the GST portal using BUSY. What are the steps I need to follow to do this?
To upload invoices on the GST portal using BUSY, you need to follow below steps:
1 need to enusre that you have installed latest version and release of BUSY
2 Go to administration menu click on configuration then click feature options then click on
GST VAT option and enable gstin number filling frequency and type of dealer then save
3 Make proper Sale voucher with party GSTIN address proper tax rates and item HSN codes
4 Before creating GSTR1 return file Go to Display menu and click on GST reports
then select GST Return and click on GSTR1 and select period then go to HSN summary and
check is their any invalid HSN showing or not if showing then modify it
Match the taxable amount and tax amount and save
5 then go to GSTR1 E-return option from GST return option select the period of file
check possible errors and modify then generate return through direct upload, json file or govt template.
Why can I not see the option to adjust GST differences between my accounting records and government portal?
If you cannot find the option to adjust GST differences, here are some common reasons and steps to address the issue:
Step 1: Ensure that you have the necessary user permissions in BUSY to access and modify GST-related records.
Step 2 : Ensure that you are using the latest version of your accounting software.
Step 3: Open the GST Summary section
Step 4: While in the GST Summary, press the F4 key on your keyboard.
Step 5: Select Adjustment or Payment Option
Step 6: A message box will appear, allowing you to select the type of voucher you want to post.
Step 7 : The available options typically include input/Outpout Adjustment.
Step 8: Select this option when you need to make adjustments to your GST data.
Step 9: 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 10: This will update your GST ledger and balances based on the adjustments or payments made.
