Frequently Asked Questions

If you are unable to save a GST RCM consolidated voucher in BUSY for the current then their could be 
 wrong RCM entry passed by you or the tax category were not selected in their you have to check the 
 following details in your voucher then have to mnake consolidate voucher entry 
 1 check if their is any RCM purchase then the item tax category were properly entered or not and The 
 purchase type were selected as RCM Unreg or not which should be under tax type RCM Unreg
 2 Check if their were made any RCM expense voucher Then expense ledger have the tax category or not and its RCM nature were selected under compulsory or not

To record the receipt of services with GST through a general voucher in BUSY: 
 1. Go to the Transaction option. 
 2. Open a journal Voucher in BUSY and click on Add. 
 3. Choose the voucher series and date. 
 4. Set GST nature as Registered Expense (B2B). 
 5. Enter service provider details in the Party Account field. 
 6. Put the service charges in the Debit column. 
 7. Select the right ledger account for service charges. 
 8. Enter the GST amount in the Tax column. 
 9. Select the appropriate GST ledger account. 
 10. Add details for registered expense (needed for GSTR2). 
 11. Save the voucher to record the service receipt with GST.

To book an RCM expense entry for a Consolidated Voucher in BUSY please follow the mentioned steps. 
 Step 1: Go in Administartion tab
 Step 2: Click on Add account master and add the expense A/c.
 Step 3: Specify Tax categogy and RCM nature as compulsory.
 Step 4: Go to transations menu and add journal voucher
 Step 5: Specify date and select GST nature as RCM expense
 Step 6: Debit required Expense A/c, credit the party account and save voucher. 
 Step 7: Go to GST misc utilities and click on check post consolidate RCM payable voucher .
 Step 8: Select report basis as on date or month basis and open the report.
 Step 9: Press F4 to post consolidate voucher.

1.If you have provided the transport services and received payment, you can post sales invoice under RCM section by follow these steps:
Step 1: Go to transaction section then click on sales voucher type
Step 2: Select the add option then create the invoices with RCM sales type.
Step 3: After update the requird details, save the invoice.
2.To create the item master for service , follow these steps:
Step 1: Go to administration section then click on master menu
Step 2: Choose the item tab then click on add option
Step 3: Now, create item master for service, specify the name, group, update NA for unit, service tax category in its field, specify the service account ledger in place of sales account and save the item master.

To view an entire year's RCM entries at once in BUSY, you need to follow the below steps:
 Step 1: Go to the list of purchase vouchers and check if the RCM entry's purchase type is under the RCM category.
 Step 2: If you made an RCM expense entry, then check the expense ledger. The RCM nature is under Compusory, and the expense voucher ITC Eligibility option is selected as RCM Expense.
 Step 3: If all the entries were properly entered, then go to the transaction menu. Click on gst misc utilities.
 Step 4: Click on Check post consolidated RCM, then click on daily and select the date from 1st April to 31st March to find the RCM entries in BUSY.

To enter the RCM entry in BUSY you can follow the steps 
 Step 1 Go to the purchase voucher Select purchase type RCM Unreg and make sure Item master have 
 the proper Tax category then fill the other details in voucher like series date party name item name 
 quantity rate amount and save the Voucher 
 Step2 If you want to generate RCM expense then you can go to payment or journal voucher 
 Step3 make sure in this voucher GST nature should be RCM expense and expense ledger must have tax 
 category and RCM nature should be compulsory 
 Step4 debit the expense account and value and Credit the party or cash/Bank then save the voucher

To view the output RCM details for a date range in BUSY, you need to follow the below steps: 
 Step 1: Go to the list of purchase vouchers and check if the RCM entry's purchase type is under the RCM category. 
 Step 2: If you made an RCM expense entry, then check the expense ledger. The RCM nature is under Compusory, and the expense voucher ITC Eligibility option is selected as RCM Expense. 
 Step 3: If all the entries were properly entered, then go to the transaction menu. Click on gst misc utilities. 
 Steps 4: Click on Check post consolidated RCM then click on daily and select the date range for output RCM details in BUSY.

To post reverse charges in BUSY you should follow the steps 
 Go to the purchase voucher select the sale type as RCM Unreg then fill the other details and ensure 
 that the item master of service charge you selected it have the proper gst rate then save the purchase voucher you can generate RCM voucher from mpayment or journal voucher also for that follow the steps 
 Step1 go to journal or payment voucher and fill the necessary details 
 Step2 select GST nature as RCM Expense and need to ensure expense ledger tax rate mentioned properly and RCM nature should compulsory
 Step3 in voucher Debit the expense ledger and credit the party ledger or cash or bank

To link bank payments to the RCM payable amounts in the software, follow these step-by-step instructions:
 Step 1. Open the BUSY and go to the GST Miscellaneous Utility section.
 Step 2. Select the option to Post Consolidated RCM Payable and choose the desired time period (monthly or quarterly).
 Step 3. Press F4 to generate the entry and save it with the date as the last day of the month.
 Step 4. Go to the Bank Payment Voucher section and select the appropriate voucher series.
 Step 5. Enter the necessary details such as the bank account, payment mode, and amount.
 Step 6. In the narration field, mention the reference to the RCM payable entry.
 Step 7. Save the payment voucher.

for check post & consolidate RCM in BUSY please follow below steps 
 step 1:Access GST Miscellaneous Utilities Navigate to this option under transaction menu.
 step 2:Choose Check/Post Consolidated RCM Payable Click on this option within the GST miscellaneous utilities.
 step 3:Select RCM Payable Mode Choose either monthly or daily basis for managing RCM payables.
 step 4:Choose the Period Select the month for consolidating RCM payables and generate the report.
 step 5:After opening the report, use the F4 key to generate a consolidated RCM payable voucher. Choose the relevant series and date,then save the voucher.
 step 6:While saving the voucher, you'll be prompted to enter relevant details regarding reverse charge liability Fill in this information and save the voucher.