Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I want to file quarterly GST returns. How do I configure that in BUSY?
In BUSY, to configure and file quarterly GST returns, you can follow these steps:
Step 1: Open your BUSY software and navigate to the GST configuration section.
Step 2: found in the Masters or GST/VAT Configuration menu
Step 3: See options related to the filing frequencies for your GST returns. Select Quarterly as the filing frequency.
Step 4: Now, configure your specific GST return forms
Step 5: As you approach the end of each quarter, prepare and verify your GST returns for the respective period within BUSY.
How can I ensure the taxable value is captured correctly in the relevant reports?
To show the correct taxable value in the reports then follow the below steps.
Step 1: Ensure that the tax category is properly configured in the item master.
Step 2: In the voucher, apply the correct sale purchase type according to local,central or export.
Step 3: Make sure that the GST bill sundry configuration should be proper.
You can check the GST audit report if no voucher are reflects in reconcile accounts and GST then its means that the taxable value is correctly showing in the voucher.
I want to filter the sales reports by specific parameters like GST number but am unable to do so. How can I filter reports?
To filter a report in BUSY on any field, follow these simple steps:
Step 1 : After running your report, press the F7 key.
Step 2 : In the F7 (filter option), you'll see two choices: Single Filter or Multi-Filter. Pick the one that suits your needs.
Step 2 : Now, specify the report column and the value you want to use for filtering. Press Ok.
By following these steps, you can easily filter any display reports in BUSY based on your criteria.
My monthly GST returns are due, but the software is prompting me to file quarterly returns. How do I change the filing frequency?
In BUSY, to configure and file quarterly GST returns, you can follow these steps:
Step 1: Open your BUSY software and navigate to the GST configuration section.
Step 2: found in the Masters or GST/VAT Configuration menu
Step 3: See options related to the filing frequencies for your GST returns. Select Quarterly as the filing frequency.
Step 4: Now, configure your specific GST return forms
Step 5: As you approach the end of each quarter, prepare and verify your GST returns for the respective period within BUSY.
The supply outward register report is not showing correct details in BUSY. What should I check to resolve this?
To fix the problem with the supply outward register report in BUSY, follow these steps:
Step 1:Confirm that you've selected the correct date range for the report.
Step 2:Double-check the filter options, ensuring you've chosen the right parties and tax rates.
Step 3:Additionally, you can use the GST Audit report to identify and correct data mismatches. Navigate to Display then select GST Reports then select GST Audit Reports.
Ensure that you have installed all necessary updates and patches for the BUSY software.
What do I need to do if my sales and purchase amounts are not reflecting correctly in the reports?
If there is a mismatch in the total balance shown in BUSY reports,Here are steps to help you find the cause and resolve the problem:
Step 1: Run the utility Update master balance from house keeping menu.
Step 2 : Recheck the data with ledger reconcillation.
Step 3: Verify that you're looking at the correct date range in your reports. Step 4: Confirm that your accounts and ledgers are configured correctly.
Step 5: Utilize the audit trail function within BUSY to track changes or corrections in transactions.
I used ITC tagging last year and now my GST summary report is not matching. What should I do?
If you used ITC tagging last year and your current GST summary report,Here are steps you can take:
Step 1:Check Late filings or amendments to previous returns can impact the closing balance.
Step 2: Ensure that all eligible ITC claims were made, and that any adjustments or reversals were correctly accounted for.
Step 3: Update voucher GST summary in previous year from House keeping menu .
Step 4 : Carry forward all pending entries to current year while changing the financial year from administration menu.
The details I had added for some bills/invoices are missing. Why is this information not showing up anymore?
here's what you can do to ensure the changes are saved correctly:
Step 1: Check for a Save Button and click on it.
Step 2: After making changes, review the bill or invoice to confirm that the modifications have been saved.
Step 3: Make sure the updated information is correctly displayed.
Step 4: Verify that you have the necessary permissions or rights to edit and save bills or invoices in BUSY
Step 5: Before making significant changes, it's a good practice to back up your data
Why is GST being shown in the tax category for certain items when it should be VAT?
In BUSY, sometimes certain items may display GST (Goods and Services Tax) instead of VAT (Value Added Tax). This happens because the tax category is decided by the item's tax category master. The tax category master is what sets the tax rate for an item.
So, if the tax category master is set to GST, the item's tax category will be shown as GST. To change it to VAT, you'd need to edit the tax category master for that item and switch it to VAT.
What should I do if ineligible ITC expenses are getting added to my tax liability automatically? My GST payable amount is higher.
If your ITC expenses are getting added to your tax calculation please follow these steps:
Step 1: While making the purchase invoice select itc eligibility as ineligible
Step 2: Then go to transactions tab
Step 3: Then click on gst miscellaneous utilities
Step 4: Afterwards select Monthly itc tagging as per GSTR 2A/2B
Step 5: Open the report from party wise or date-wise as required
Step 6: Then select the entry and press f4 and change the status to ineligible as per the sections