Frequently Asked Questions

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.

To consolidate RCM entries in BUSY, you need to follow these steps: 
Step 1: Go to transactions menu then select GST misc utilities and click on check or post consolidated RCM payable option.
Step 2: Choose monthly or daily basis based on your requirement and select the period.
Step 3: Now, press F4 to post the RCM consolidated voucher then save that voucher with invoice number.

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.

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

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.

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

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.

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)

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.

To take a backup before modifying the payable account group in BUSY 
 you can follow the steps 
 1 Open BUSY and go to backup data option 
 2 select the company and put user name and password 
 3 select the path where to take backup and select finanacial years 
 4 click on start button to start the process