Frequently Asked Questions

To adjust RCM that is not getting adjusted in BUSY you need to follow the steps 
 Step1 Go to Display menu and click on GST Reports 
 Step2 Click on GST summaries and then GST summary 
 Step3 Select the date range for which you want to adjust RCM and pess OK
 Step4 after opening the summary report press F4 key and then click on RCM to regular tax adjustment
 Step5 select the series and date for passing the journal and Save 
 Step6 after opening the Journal voucher save it as it is generated automatically

In transaction menu you can find GST miscellaneous utility option
 for enter transaction under composition dealer as per GST no under composition scheme follow the below steps 
 step 1: go to the configuration option under administration.
 step 2: select features & options under configurations option 
 step 3: select GST/VAT optioin under features & option 
 step 4: then select dealer type as composition & tax rate for composition scheme then save configurations 
 step 5: after that open new purchase invoice screen & entered purchase invoice with relavant details in invoice & save invoice

RCM: Reverse Charge Mechanism. Under Reverse Charge, the recipient pays to the supplier an amount exclusive of GST, the recipient then pays the GST directly to the Government.
Reason: Tax category not specified in item master 
How to specify tax category:
Step 1: Go to Master->Item Master-> Modify Item Master (or Press Shortcut Alt+M)
Step 2: Specify tax category as per item and save it
Step 3: Now apply F4 on Form Check/Post Consolidated RCM Payable. Now it will work
Why do users press F4 on this Form?
What will be debited and what will be credited according to the RCM Entry.

After making an RCM purchase entry in BUSY, you can generate the GST liability for it by posting the RCM liability to generate RCM liability you can follow these steps: 
 Step 1: Access GST Miscellaneous Utilities Navigate to this option within the software's transaction menu. 
 Step 2: After that Choose Check/Post Consolidated RCM Payable option under GST miscellaneous utilities. 
 Step 3: Select RCM Payable Mode Choose either monthly or daily basis for managing RCM payables. 
 Step 4: Choose the Period monthly or daily basis for consolidating RCM payables and generate the report.

If you want to record RCM expenses through a journal entry please follow the below steps
 Step 1: go to the Journal voucher under transaction menu & add new entry 
 Step 2: specify date and the GST nature as RCM expenses 
 Step 3:select the relevant ledger name and GST details. 
 Step 4: Upon completing the entry, click on the save option. While saving the voucher, a registered expenses screen will appear. 
 Step 5:Input all relevant details required in this screen related to the expenses being registered under RCM, then save the invoice.

for update RCM invoice no in BUSY please follow below steps
 Step 1: If the party is GST registered, the invoice number is not automatically picked from Original transactions. 
 Step 2: If the party is unregistered,then screen for the Reverse Charge Mechanism (RCM) appears while saving the consolidated RCM entry for the reverse charged liability. 
 Step 3: Select the RCM nature as Compulsory (Unreg. Dealer). 
 Step 4: Click on the Generate RCM Invoice No option. An invoice No will be generated. 
 Step 5: Save the voucher with the generated RCM invoice number.

If the entry for your Reverse Charge Mechanism RCM consolidated return in the 
 previous month is not showing, please follow the given steps to view past RCM 
 consolidated entries.
 Step 1: Go to transactions menu then checkpost consolidated RCM payable 
 Step 2: Then monthly basis then select month.
 Step 3: Then list of rcm enteries will be shown if voucher is showing below title
 liability posted then it means you have posted the consolidated entry.
 Step 4: Then Select entry below liability posted then enter then entry will be 
 shown.

To record RCM entry on a monthly basis, please follow below mentioned steps.
 Step 1: Go to Administration tab.
 Step 2: Click on Master and create expense account, specifying the nature as RCM expense.
 Step 3: Click on transaction tab and click on add journal voucher.
 Step 4: Specify voucher date, select GST nature as RCM Expense and save.
 Step 5: Click on GST Misc. Utility and select generation of report as on monthly basis.
 Step 6: Press F4 key to post consolidate voucher.
 Step 7: Click on ok for automatic posting for journal voucher.

After making an RCM purchase entry in BUSY, you can generate the GST liability for it by posting the RCM liability to generate RCM liability you can follow these steps:
 Step 1: Access GST Miscellaneous Utilities Navigate to this option within the software's transaction menu. 
 Step 2: After that Choose Check/Post Consolidated RCM Payable option under GST miscellaneous utilities. 
 Step 3: Select RCM Payable Mode Choose either monthly or daily basis for managing RCM payables. 
 Step 4: Choose the Period monthly or daily basis for consolidating RCM payables and generate the report.

To Create Tax Category in BUSY you can follow these steps: 
 Step 1: Go to Administration Menu and click on Tax Category. 
 Step 2: Under Tax Category click on Add 
 Step 3: Create Tax Category Name as GST 18 %, Select Type as goods or Services 
 Step 4: Enter details of IGST as 18 % and CGST 9%, SGST 9%. 
 Step 5: click on save. 
 Step 6: If you want to create IGST, CGST, SGST Master you can create in account master under group of Duties & Taxes.