Frequently Asked Questions

If RCM Amount not Comeing Properly Folow the Step 
 Step:1 Modify the RCM Expenss Master from Account Modify Option 
 Step:2 Make Sure in Account Master Option Select Gst Type is Gst Applicable and Select Right Tax Category 
 Step:3 if Previously Tax Category not define in Account Master Modify and resave Voucher rcm Entry 
 Step:4 Now check and post rcm Entry it automatic Come RCM Amount

To view the pending Liabilities in BUSY you should follow the steps 
 Step1 open BUSY company and go to transaction menu 
 Step2 Select GST misc utilities and click on check post consolidated RCM
 Step3 Select the monthly or daily basis then select month here you can check the Pending liability report 
 of RCM by pressing F4 key you can post it if it was not posted

Step 1: Under GST Miscellaneous Utility have various features and options related GST & RCM. 
 E-Way bill & E-Invoice Management, download GSTR json data, Reconcile GSTR Data, Monthly ITC Tagging as per 2A,2B. 
 Step 2: ITC Claimed Summary ITC Claimed Register. 
 Step 3: Under GST Miscellaneous Utility you can check /post consolidated RCM payable, check /post tax on Advance Receipt, check/post tax adjustable against advance.

To track your gst return status in BUSY you can go to Transaction menu then 
 click on gst misc utilities and select check party filling status where you 
 should select self and select check from gst portal or show already saved status 
 you need to ensure that you have given your gst user name in gst feature option or 
 have downloaded data from portal

To change the RCM rate you have to follow the steps 
 1 go to the purchase voucher of RCM entry and click alter and M together on item master 
 to modify and change the tax category over there 
 2 next go to the payment voucher in which gst nature mentioned as RCM Expenses 
 modify the expense ledger and change tax category then save it

To match the regular ledger with the RCM (Reverse Charge Mechanism) ledger for GST summaries, you should follow these steps:
 Step 1: Check if there is any opening credit balance in the RCM ledger. If there is a opening credit balance, transfer it to the RCM/GST payable account.
 Step 2: Ensure that the RCM vouchers, payments, and their adjustments from the previous period have been recorded accurately.

To generate a tax adjustment voucher in BUSY, you can use the F4 key to open the post voucher window. In the voucher entry screen, select the regular tax adjustment option. Choose the appropriate series and enter the necessary details such as tax rates, periods, and amounts. Save the entry and pass the full amount. After saving, you can check the balance sheet for the adjusted amount.

To chcek RCM entry in GST report follow the below steps:
Step 1: Go to Display menu 
Step 2: Then click on Gst reports option 
Step 3: Then click Gst Summaries option 
Step 4: Then click on Gst summary option 
Step 5: specify date range and click on OK button 
Step 6: Here you can check RCM adjustment in the specified option of RCM input adjusted (as feeded)

To transfer the RCM input to the regular GST input 
 you need to pass a journal entry. In the entry debit the RCM Input and 
 credit the Regular GST input account This will adjust the RCM input 
 with the regular GST input 
 You can also adjust it from gst summary by clicking F4 and then 
 clicking on RCM to regular tax adjustment

Here are the steps for passing consolidate entry of RCM payable:
Step 1: Go to transaction menu 
Step 2: Then click on Gst Misc. utilities option 
Step 3: Then Check/Post consolidated RCM payable entry 
Step 4: Then select monthly basis or daily basis option as per your requirement 
Step 5: Then press F4 in the particular entry 
Step 6: Then specify series name and click on save button