Frequently Asked Questions

To Enter RCM Entry, you need to follow these Step 
 Step:1 We have different Model to feed RCM Entry e.g Purchase payment or Journal Voucher 
 Step:2 Select the Transaction option Click on add option 
 Step :3 after Enter the date and Voucher No then in GST Nature Detaile Select RCM Expenss 
 Step :4 after Select gst Nature go to voucher body debit will expenss account and press alt plus m and select RCM Neature is Compulsory 
 Step:5 Save the Voucher

To print a reverse charge invoice and voucher in BUSY, you can follow these steps:
 1. Open the voucher for which you want to print the invoice and voucher.
 2. Go to the "Print" option in the menu.
 3. Select the "Print Voucher" option.
 4. Choose the appropriate format for printing the voucher.
 5. Click on the "Print" button to generate the printout of the voucher.
 Please note that the steps may vary slightly depending on the version of BUSY you are using.

To set your RCM at 5% in june you have to follow the steps 
 1 go to the expenses entry on june where you have made RCM Expenses
 2 open the expense ledger in modify mode and set tax category services 5%
 3 make RCM nature compulsory and resave all vouchers of RCM expense for june
 4 then go to gst misc utilities and click check post consolidated RCM and monthly
 5 then select month june to check RCM entries of june for consolidating

To Enter RCM Entry, you need to follow these Step 
 Step:1 We have different Model to feed RCM Entry e.g Purchase payment or Journal Voucher 
 Step:2 Select the Transaction option Click on add option 
 Step :3 after Enter the date and Voucher No then in GST Nature Detaile Select RCM Expenss 
 Step :4 after Select gst Nature go to voucher body debit will expenss account and press alt plus m and select RCM Neature is Compulsory 
 Step:5 Save the Voucher

while enter a voucher date in a prior month when paying the voucher in current month please follow the below steps 
 step 1: Go to the GST reports under display menu
 step 2: open GST summaries under GST report and click on GST summary 
 step 3: mentioned prior month for RCM payment and other relevant option then open report 
 step 4: press F4 for auto RCM payment posting then select relevant series and current month period for paying and save voucher

To post RCM consolidated entry in BUSY, follow these 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 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 correct any errors in CGST, SGST, or IGST in the Reverse Charge Mechanism (RCM) check and post report, follow these steps: 
 Step 1: If you're posting an RCM expense voucher using a journal or payment voucher, make sure that the correct GST rate is updated in the master account for the expense involved. 
 Step 2: If you're entering entries related to RCM through purchase vouchers, ensure that the correct GST rate is updated for the items involved in the voucher.

To generate a consolidated RCM payable voucher in BUSY after a monthly entry, follow these steps:
 1. Go to the GST Miscellaneous Utility in BUSY.
 2. Select "Post Consolidated RCM Payable."
 3. Choose the monthly basis option.
 4. Select the month for which you want to generate the voucher.
 5. Press F4 to generate the entry.
 6. Save the entry with the date set as the last day of the month.
 This will generate the consolidated RCM payable voucher in BUSY.

To pass the RCM entry from BUSY through journal entry you need to follow the steps 
 Step1 go to transaction menu and select journal voucher and click on add
 Step2 fill voucher series date and number and select GST nature as RCM expense 
 Step3 create a expense ledger which tax rate must be given in it and RCM nature should be Compulsory 
 Step4 Debit the expense ledger and credit the Cash or bank or party 
 Step5 save the voucher

for handle GST refunds and cliam input tax credit in BUSY lease follow the below steps
 step 1: first we need to entered account voucher for GST refund and claim input tax credit 
 step 2: go to the receipt voucher under transaction menu and add new voucher 
 step 3: select date & GST nature not applicable 
 step 4: in credit side select input GST accounts, in debit side select bank account and relevant amount 
 step 5: save voucher .