Frequently Asked Questions

for consolidate RCM expenses on a monthly basis please follow the below steps
 step 1:click on GST Miscellaneous Utilities 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 as monthly 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.

For Reverse charge entry in BUSY there is no need to mention IGST manually in voucher 
 reverse charge calculation pick GST amount automatically while pass Consolidate voucher but 
 need to ensure that the expense ledger must under RCM nature compulsory and tax rate must be given and for purchase voucher the service item must have the tax rate and the party should from other state 
 To post GST tax liability for reverse charge you need to follow the steps 
 1 Go to transaction menu and select gst misc utilitiues
 2 Then click on check post consolidate RCM and select monthly then select the month 
 3 Then Press F4 to post consolidate RCM entry

To set up a tax category for RCM (Reverse Charge Mechanism) expenses in BUSY, follow these steps: 
 1: Go to the Administration section and select Masters. 
 2: Choose Accounts and click on Modify or Add (if creating a new account). 
 3: Find the specific account you want to set up, like Advertisement & Publicity. 
 4: Set the GST type as GST Applicable. 
 5: Select the tax category, which, in this case, should be Services 18%. 
 6: Enter the HSN/SAC code, ITC eligibility, and choose the appropriate RCM nature. 
 7: Save the master entry. 
 By following these steps, you'll have set up a tax category for RCM expenses in BUSY.

To do RCM entry in BUSY, follow these steps: 
 Choose the appropriate voucher type (Purchase Voucher or Journal Voucher) based on the nature of the transaction. 
 Step 1: Go to transactions Menu click on Purchase voucher option. 
 Step 2: Under Purchase voucher click on Add. 
 Step 3: In Purchase voucher header select Series name, date, vch no. type. 
 Step 4: Select Purchase Type: Local-RCM / UnReg or Service Import-RCM or as required. 
 Step 5: Select ITC Eligibility: Input Goods/Services and will get option for reverse charge: Compulsory or Service Import as required. 
 Step 6: Enter item details qty & price and general purchase entry details. 
 Step 7: Save Purchase Vouchers.

To do RCM payment and adjustment entries in BUSY, you need to follow these steps:
 Step 1: Go to the GST Summary screen in BUSY.
 Step 2: Select the option for RCM Payment and Adjustment.
 Step 3: No Need Enter the details of the RCM payment, including the amount and the relevant tax details that comes auto.
 Step 4: Save the RCM payment entry.
 Step 5: After making the RCM payment, go to the RCM to Regular Tax Adjustment option.
 Step 6: Enter the necessary details for the adjustment, such as the amount and the tax details.
 Step 7 Save the adjustment entry.
 Step 8: Verify that the RCM payment and adjustment entries are correctly recorded in BUSY.

if RCM entries not Reflecting in BUSY See the following step 
 Step 1: Go to transction Menu Click on GST Misc. Utlities 
 Step 2: then Go to Check Post Consolidated RCM Payble Menu select the option Monthly Basis or Daily Basis as requried 
 Step 3: After Select the Month Click on ok 
 Step 4: In RCM payble Monthly Basis Windows Use Key F4 for post Consolidate RCM Payble Voucher 
 Step 5: Select Journal Voucher Series and Voucher Date then Click on Save 
 Step 6: In Consololidated RCM Payble Journal Voucher Screen Click on Save 
 Step 7: after Click on Save Click on Generate RCM Invoice No and Click on Save

For adjust RCM liability with regular GST liability for freight charges in buys please follow the below steps 
 step 1: Go to the GST reports under Display menu 
 step 2: click on GST summaries and open GST summary report 
 step 3: mentioned start and end date also select other relevant options , open the report 
 step 4: after open report press F4 for post adjustment voucher for RCM liabolity 
 step 5: after press F4 some option showing there you can select RCM to regular tax adjustment 
 step 6: then select relevant seies and date save the voucher , after that your RCM liability adjust with regular GST liability for freight charges

To post RCM expense entry in BUSY, follow these steps:
Step 1: Go to transaction section then select Journal or payment voucher to post RCM expense entry.
Step 2: Click on Add tab and post accounting entry with GST nature RCM expense.
Step 3: After post RCM entry, Go transaction section then select GST Misc. Utilities menu.
Step 4: Now, Click on Check/Post consolidate RCM payable option then you have to select the range for which RCM consolidate to be post. You can either select Monthly basis or daily basis.
Step 5: Next, Mention the date range and open the RCM payable report.
Step 6: Select the entry and can post RCM consolidate entry by Pressing Function key F4 and save the window.

for Showing RCM Gst Payble Account Report Folow below Step 
 Step :1 after Login Company go to Dispaly menu then Gst Report enter Gst Report Click on Gst Summeries Report then Click on Gst Summary Sub Menu
 Step:2 after Display Gst Summary Report Windows Select Start date and End date then Click on ok or f2
 Step:3 after Generate Gst Summary Report You Can View Report on Output GSt on RCM Head Detailes
 Step:4 Alternative way you can view report from GSTR 3B Report open GST3b Report from Gst Report Meenu
 Step:5 you can See Gst RCM Payble Report 3.1(d) Inward Supp. (liable to Rev. Charge) or Col No 4A3 Inward Supplies to reverse Charge .

As per Your business registered in Delhi but the RCM expenses is for a Gujarat then while you entering RCM expense entry software will be Automatically applied IGST becuase of Partys state & gst no 
 Enter RCM expenses for registered and unregistered dealers please follow the below process 
 step 1 : if you entered RCM entry for registered and unregistered dealers thorugh purchase invoice then you need to select purchase type within taxation type as Reverse charges and then entered all relevant deatil in invoce 
 Step 2: and if you entered RCM entry through the journal voucher you need to select GST nature as RCM expenses and entered all relavant deatils in invoice