Frequently Asked Questions

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 And if portal is not accepting rcm entries in gstr 3b then you must check the given points
 1.Check the rcm entry for expense passed in journal voucher correctly with amount and gst nature is selected as rcm expense in journal voucher 
 2.Check consolidated entry for rcm payable is passed or not by checking it in rcm expense ledger and itc eligility option 
 3.Check tax category and rcm applicablity is selected in expense account 
 4.After these points check in gstr 3b showing rcm entry under relevant section or rcm section
 5.Make sure to check your gstr 3b data and error free while generating gstr 3b retrun

In BUSY, You can check the RCM entries in GST report after posting the RCM consolidate entry by following steps:
Step 1: Go transaction section then select GST Misc. Utilities menu.
Step 2: Now, Click on Check/Post consolidate RCM payable option and then you have to select the range for which RCM consolidate to be post. You can either select Monthly basis or daily basis.
Step 3: Next, Mention the date range/month and open the RCM payable report.
Step 4: Select the entry and can post RCM consolidate entry by Pressing Function key F4 and save the window.
To see the input and output taxes, you can check the GST summary report by following these steps:
Step 1: Go to Display section then click on GST summaries option.
Step 2: Now choose GST summary then specify data range and open the report.

In BUSY, we have to book the RCM entry then pass the consolidated voucher.
 Pls follow the below steps for RCM Entry :
 Step 1: In the expense or fixed assets account ,mention the tax category, select the rcm nature as compulsory and as import services if you have purchased any service from other country.
 Step 2: Click on Transactions
 Step 3: Then Journal
 Step 3: Then Add 
 Step 4: Select the GST nature as RCM Entry then DEBIT the expense or fixed asset account and then CREDIT the cash or party account.
 Step 5: Click on Transactions
 Step 6: Then GST Misc Utilities
 Step 7: Then check/post consolidated rcm payable
 Step 8: Select the entry and press f4 for posting the consolidated voucher after that RCM entry will reflect in the GST report.

In BUSY, we have to book the RCM entry then pass the consolidated voucher.
 Pls follow the below steps for RCM Entry :
 Step 1: In the expense or fixed assets account ,mention the tax category, select the rcm nature as compulsory and as import services if you have purchased any service from other country.
 Step 2: Click on Transactions
 Step 3: Then Journal
 Step 3: Then Add 
 Step 4: Select the GST nature as RCM Entry then DEBIT the expense or fixed asset account and then CREDIT the cash or party account.
 Step 5: Click on Transactions
 Step 6: Then GST Misc Utilities
 Step 7: Then check/post consolidated rcm payable
 Step 8: Select the entry and press f4 for posting the consolidated voucher after that RCM entry will reflect in the GST report.

In BUSY, we have to book the RCM entry then pass the consolidated voucher.
 Pls follow the below steps for RCM Entry :
 Step 1: In the expense or fixed assets account ,mention the tax category, select the rcm nature as compulsory and as import services if you have purchased any service from other country.
 Step 2: Click on Transactions
 Step 3: Then Journal
 Step 3: Then Add 
 Step 4: Select the GST nature as RCM Entry then DEBIT the expense or fixed asset account and then CREDIT the cash or party account.
 Step 5: Click on Transactions
 Step 6: Then GST Misc Utilities
 Step 7: Then check/post consolidated rcm payable
 Step 8: Select the entry and press f4 for posting the consolidated voucher after that RCM entry will reflect in the GST report.

To track overdue payments for RCM purchases in BUSY, you can use the payment reminder report. This report will show you the total days overdue for each payment. Additionally, you can customize the report to display overdue days instead of total days if needed. Step 1: You can track and generate payment Reminder report. 
 Step 2: Go to Print / Email / SMS Menu. 
 Step 3: click on Outstanding Analysis option. 
 Step 4: click on Payment Reminder report. 
 Step 5: Select option as you required Balance only, pending bills or due bills 
 Step 6: Example enter on Due bills option will get popup of select on party, all party or group of parties. 
 Step 7: selected All party and will get more option to select for print, preview, export.

for the process to enter RCM entry in BUSY accountig software 
 Step 1: Open the transaction menu of the software. Open either a purchase voucher or a journal voucher to begin entering RCM entries.
 Step 2: If entering RCM through a purchase, input relevant details such as the party involved, goods specifics, and GST details within the purchase invoice. Save the invoice after filling in the necessary information.
 Step 3: If entering RCM through a journal entry, specify the GST nature as RCM expenses and select the relevant ledger name and GST details.
 Step 4: Upon completing the entry, click on the save option. While saving the voucher, a register expenses screen will appear. Input all relevant details required in this screen related to the expenses being registered under RCM, then save the invoice.

If you are unable to find the tax invoice received from the vendor in the BUSY portal, you should try the following steps:
 1. Double-check the search criteria and filters applied in the BUSY portal to ensure you are searching for the invoice correctly.
 2. Verify if the invoice has been properly uploaded and saved in the BUSY portal. If not, ask the vendor to re-upload the invoice.
 3. Contact the vendor directly to confirm if they have indeed uploaded the invoice in the BUSY portal and if there were any issues during the upload process.
 4. If the issue persists, reach out to the BUSY support team for further assistance in locating the tax invoice in the portal. They will be able to guide you through the troubleshooting process.

To adjust the RCM (Reverse Charge Mechanism) input and output tax amounts after filing the GST return every month, you can follow these steps:
 Step 1 :Go in display > Gst reports > Gst summary > select the required month.
 Step 2: To make input output adjustment press F4 and click RCM to regular tax adjustments. 
 Step 3 : Debit CGST Input/ SGST Input/ IGST Input and credit CGST Output (RCM)/ SGST Output (RCM)/ IGST Output (RCM). 
 Step 7 : While saving a window of GST tax adjustment will appear specify RCM to regular adjustment and save the trasancation
 Please note that it is important to reconcile the RCM input and output tax amounts while filing monthly returns to avoid any discrepancies in the opening balances of the next month.

To adjust RCM liabiltiy against your regular gst liability in BUSY,follow these steps
 Step 1 Open your company and then go to display
 Step 2 Go to GST reports
 Step 3 Select GST summaries and then select gst summary
 Step 4 Now select date range and other required options and open then report
 Step 5 Now gst summary report will be loaded
 Step 6 Just use function key F4 in same window
 Step 7 Here you can check gst adjustment options
 Step 8 Select rcm to regular tax adjustment option and then select voucher series and date
 Step 9 Now Save the window and automatic tax adjustemnt entry in journal will be shown,save entry and check information in tax adjsutment window and save 
 Step 10 Now rcm to regular adjustemnt entry is posted