Frequently Asked
Questions

Q: How to do compliance of RCM expenses in BUSY?.

To do compliance of RCM expenses in BUSY, you need to correctly record the RCM expenses in the software using the appropriate voucher or journal entry. You should also ensure that the RCM liability is accurately calculated and recorded. Additionally, you should regularly review and reconcile the RCM expenses with the relevant GST reports and returns in BUSY to ensure compliance with GST regulations.

Q: How can we do RCM entry for sales?

Recomended to generate RCM entry from purchase or journal entry module , If you need to generate RCM entry from sales then create a Sales type RCM from Administration then Master then Sales type click on Add option to create a new sales type with Taxation Type -Reverse charge . Then use this sales type in sales entry to record RCM entry from sales

Q: I am unable to see the RCM related data getting reflected in GSTR- filing after posting entries. What should I check?

For reflecting RCM related data in GSTR-2 data, please follow below mentioned steps: Step 1: Go to transaction menu. Step 2: Click on GST Misc. Utility. Step 3: Check/Post Consolidated RCM Payable. Step 4: Select report basis as Monthly or as on date. Step 5: Press F4 key to post consolidated voucher. Step 6: Click on save tab for automatic posting of the voucher

Q: I want to post my RCM entries one by one. How can I do that in BUSY?

For posting RCM entries one by one, please follow below mentioned steps: Step 1: Go to transaction menu. Step 2: Click on GST Misc. Utility. Step 3: Check/Post Consolidated RCM Payable. Step 4: Click on as on date basis for posting consolidated voucher. Step 5: Press F4 key to post consolidated voucher. Step 6: Click on save tab for automatic posting of the voucher.

Q: I am trying to post my RCM entry but it is not getting reflected. What should I do?

For posting RCM entry, please follow below mentioned steps: Step 1: Go to transaction menu. Step 2: Click on GST Misc. Utility. Step 3: Go to Check/Post Consolidated RCM Payable. Step 4: Click on as on date basis for posting consolidated voucher. Step 5: Press F4 key to post consolidated voucher. Step 6: Click on save tab for automatic posting of the voucher.

Q: What is the process for consolidated RCM payable in BUSY?.

To process for consolidated RCM you need to follow the steps Step1 go to transaction menu and click on GST misc. utilities Step2 Click on Check post consolidated RCM Step3 select monthly or daily basis then select the month or date Step4 Press F4 to make consolidated RCM vouucher step5 save the journal voucehr generated by BUSY automatically

Q: How do I distinguish between local and interstate reverse charges?

To distinguish between local and interstate reverse charges, you need to look at the location of the supplier and the place of supply. If they are in the same state, it is a local reverse charge and you have to pay CGST and SGST. If they are in different states, it is an interstate reverse charge and you have to pay IGST.

Q: What is the right way to post multiple RCM entries for a month in BUSY? Should it be done one by one?

For posting multiple RCM for a month, please follow below mentioned steps: Step 1: Go to transaction menu. Step 2: Click on GST Misc. Utility. Step 3: Check/Post Consolidated RCM Payable. Step 4: Click on Monthly basis for posting consolidated voucher. Step 5: Press F4 key to post consolidated voucher. Step 6: Click on save tab for automatic posting of the voucher.

Q: What details do I need to provide to generate bills for reverse charge in BUSY?

To generate bills for reverse charge in BUSY, you need to provide the following details: Step 1 : Invoice number Step 2 : Date of the invoice Step 3 : Party details (name, address, GSTIN) Step 4 : Item details (name, quantity, rate, tax rate) Step 5 : Place of supply Step 6 : Transport details (mode, vehicle number) Step 7 : Reverse charge details (tax amount, tax rate)

Q: Who should I contact if I think the RCM payable increase is wrong?.

If you suspect that the RCM (Reverse Charge Mechanism) payable amount appears incorrect, here's what you should do in simple terms: 1. Review the consolidated RCM payable entry. 2. Check if there is an additional entry in that report and look at the associated amount. 3. Investigate the report to find the specific problem that caused your entry to be inaccurate.

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How to do compliance of RCM expenses in BUSY?.

To do compliance of RCM expenses in BUSY, you need to correctly record the RCM expenses in the software using the appropriate voucher or journal entry. You should also ensure that the RCM liability is accurately calculated and recorded. Additionally, you should regularly review and reconcile the RCM expenses with the relevant GST reports and returns in BUSY to ensure compliance with GST regulations.

How can we do RCM entry for sales?

Recomended to generate RCM entry from purchase or journal entry module , If you need to generate RCM entry from sales then create a Sales type RCM from Administration then Master then Sales type click on Add option to create a new sales type with Taxation Type -Reverse charge . Then use this sales type in sales entry to record RCM entry from sales

I am unable to see the RCM related data getting reflected in GSTR- filing after posting entries. What should I check?

For reflecting RCM related data in GSTR-2 data, please follow below mentioned steps:
 Step 1: Go to transaction menu.
 Step 2: Click on GST Misc. Utility.
 Step 3: Check/Post Consolidated RCM Payable.
 Step 4: Select report basis as Monthly or as on date.
 Step 5: Press F4 key to post consolidated voucher.
 Step 6: Click on save tab for automatic posting of the voucher

I want to post my RCM entries one by one. How can I do that in BUSY?

For posting RCM entries one by one, please follow below mentioned steps:
 Step 1: Go to transaction menu.
 Step 2: Click on GST Misc. Utility.
 Step 3: Check/Post Consolidated RCM Payable.
 Step 4: Click on as on date basis for posting consolidated voucher.
 Step 5: Press F4 key to post consolidated voucher.
 Step 6: Click on save tab for automatic posting of the voucher.

I am trying to post my RCM entry but it is not getting reflected. What should I do?

For posting RCM entry, please follow below mentioned steps:
 Step 1: Go to transaction menu.
 Step 2: Click on GST Misc. Utility.
 Step 3: Go to Check/Post Consolidated RCM Payable.
 Step 4: Click on as on date basis for posting consolidated voucher.
 Step 5: Press F4 key to post consolidated voucher.
 Step 6: Click on save tab for automatic posting of the voucher.

What is the process for consolidated RCM payable in BUSY?.

To process for consolidated RCM you need to follow the steps 
 Step1 go to transaction menu and click on GST misc. utilities 
 Step2 Click on Check post consolidated RCM 
 Step3 select monthly or daily basis then select the month or date 
 Step4 Press F4 to make consolidated RCM vouucher 
 step5 save the journal voucehr generated by BUSY automatically

How do I distinguish between local and interstate reverse charges?

To distinguish between local and interstate reverse charges, you need to look at the location of the supplier and the place of supply. If they are in the same state, it is a local reverse charge and you have to pay CGST and SGST. 
If they are in different states, it is an interstate reverse charge and you have to pay IGST.

What is the right way to post multiple RCM entries for a month in BUSY? Should it be done one by one?

For posting multiple RCM for a month, please follow below mentioned steps:
 Step 1: Go to transaction menu.
 Step 2: Click on GST Misc. Utility.
 Step 3: Check/Post Consolidated RCM Payable.
 Step 4: Click on Monthly basis for posting consolidated voucher.
 Step 5: Press F4 key to post consolidated voucher.
 Step 6: Click on save tab for automatic posting of the voucher.

What details do I need to provide to generate bills for reverse charge in BUSY?

To generate bills for reverse charge in BUSY, you need to provide the following details:
Step 1 : Invoice number
Step 2 : Date of the invoice
Step 3 : Party details (name, address, GSTIN)
Step 4 : Item details (name, quantity, rate, tax rate)
Step 5 : Place of supply
Step 6 : Transport details (mode, vehicle number)
Step 7 : Reverse charge details (tax amount, tax rate)

Who should I contact if I think the RCM payable increase is wrong?.

If you suspect that the RCM (Reverse Charge Mechanism) payable amount appears incorrect, here's what you should do in simple terms:
 1. Review the consolidated RCM payable entry.
 2. Check if there is an additional entry in that report and look at the associated amount.
 3. Investigate the report to find the specific problem that caused your entry to be inaccurate.

Frequently AskedQuestions