Frequently Asked Questions

To record an RCM payment made in cash in BUSY, you can follow these steps:
 1. Open BUSY and go to the "Payment Voucher" section.
 2. Fill in the necessary details such as the payment date, payment mode (cash), and the party/vendor name.
 3. In the "Ledger Account" field, select the appropriate RCM ledger account.
 4. Enter the payment amount in the "Amount" field.
 5. Save the payment voucher.
 By following these steps, you will be able to record the RCM payment made in cash in BUSY.

For ensuring RCM payment, please follow below mentioned steps:
 Step 1: Kinldy ensure that the nature of RCM expense should be compulsory. 
 Step 2: Click on transaction tab. 
 Step 3: Click on journal voucher, specify voucher date, select GST nature as RCM Expense and save. 
 Step 4: Click on GST Misc. Utility and select generation of report as monthly or as on date. 
 Step 5: Press F4 key to post consolidate voucher. 
 Step 6: Click on ok for automatic posting for journal voucher.

For adjusting the RCM input in the next month, please follow below mentioned steps:
 Step 1: Post consolidate voucher through F4 key on monthly or daily basis.
 Step 2: Go to Display tab, GST report and GST summary.
 Step 3: Press F4 to post RCM payment. It will automatic post the journal voucher, where RCM Output will be debited and RCM payable A/c will be credited.
 Step 4: Press F4 key to adjust RCM input to Regular Tax adjustment. It will reimburse the RCM input to regular tax.

for entered invoice number manually for RCM transaction in BUSY please follow below steps 
 Step 1: 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 2: Select the RCM nature as Compulsory (Unreg. Dealer).
 Step 3: Click on the Generate RCM Invoice No option. An invoice No will be generated, there is no need to mentioned Invoice no. manually. 
 Step 4: Save the voucher with the generated RCM invoice number.

for reconcile RCM entries Woth Vendor Invoice See teh Flowing Step 
 Step 1: go to Transacttions GST Misc. Utilities then Go To Check/Post Consolidate RCM Payble Option 
 Step 2: Select the Option Monthly Basic or Daily Basis 
 Step 3: after select the Month Click on ok for generate Report 
 Step 4: Click on F5 for Summary and Summarise Report on Party Name also Click on Show Sub Detailes 
 Step 5: Now Report Will Generate Party Wise Voucher No Wise now reconcile the enteres

Yes after generating RCM invoice You need to follow below steps
 Step 1: go to the GST miscellaneous utility under transaction menu and open the Check/Post Consolidate RCM Payable option. 
 Step 2:Select whether you want to view RCM payable on a monthly or daily basis. Choose the relevant month and open the report.
 Step 3: Press F4 or the relevant voucher for posting the consolidated RCM payable voucher. Save the voucher to finalize the posting. After saving, this transaction you can record input/output tax in BUSY

The steps to pass a correct manual GST RCM Consolidated entry in BUSY is 
 go to the Journal entry select date and voucher number select gst nature as Consolidated RCM payable then 
 Debit the input available RCM account for particular gst category like cgst sgst igst then Credit the output 
 RCM of the particular gst category 
 To generate a invoice for reverse charge entry you have to press yes on print tax invoice on rcm option after saving 
 RCM consolidate voucher

For update RCM entry automatically in BUSY follow the below steps
 Step 1: go to the GST miscellaneous utility under transaction menu and open the Check/Post Consolidate RCM Payable option. 
 Step 2:Select whether you want to view RCM payable on a monthly or daily basis. Choose the relevant month and open the report.
 Step 3: Press F4 for automatically posting the consolidated RCM payable voucher, there is no need to generate voucher manually . After saving voucher you can see RCM entries in GST reports

To change your registered company name in BUSY, you can follow these steps:
 1. Open BUSY.
 2. Go to the "Company Info" section.
 3. Select the option to edit company details.
 4. Locate the field for the company name and make the necessary changes.
 5. Save the changes.
 6. Restart the software for the changes to take effect.
 Please note that you may need to provide supporting documents or follow any additional procedures required by your local authorities for changing the registered company name.

To add options for a registered dealer in the purchase voucher for RCM in BUSY you need to 
 follow the steps 
 1 Go to the purchase voucher and by pressing alter and F3 together on purchase type option 
 to create a new purchase type 
 2 create the purchase type name as Local or central RCM / registered 
 3 Specify purchase account in purchase account information and select taxation type as RCM 
 /Unreg and select the region local or central