Frequently Asked Questions

To calculate RCM auto calculation in BUSY you need to ensure that you have made RCM voucher properly 
 in purchase voucher or in payment voucher if the RCM nature and Item or expense ledger tax category mentioned
 properly then go to gst misc utilities select check post consolidated rcm and select monthly basis and month 
 then press F4

The taxable amount for Reverse Charge Mechanism (RCM) in the GST report may not match the RCM voucher entries for a few reasons. This mismatch can occur when users modify the values in existing RCM expenses or purchases or when they add new RCM vouchers or delete existing ones after they've already consolidated RCM vouchers for the same period.

To check if an RCM expense is reflected in the general ledger in BUSY, you can go to the general ledger report and search for the specific expense account related to RCM expenses. The report will show the transactions and balances for that account, allowing you to verify if the RCM expense is correctly recorded in the general ledger.

To record RCM Payment in BUSY you need to follow the steps 
 1 Go to Payment voucher select series date etc then make gst nature as RCM Expense
 2 create the expense ledger and select proper tax category then select RCM nature as compulsory
 3 make expense Debit and party master credit or cash bank credit then save

To generate a consolidated RCM voucher in BUSY after entering monthly invoices, you need to go to the GST Miscellaneous Utility. From there, select the option "Post Consolidated RCM Payable." Choose the basis as "Monthly" and select the desired month. Press F4 to generate the entry and save it with the date as the last day of the month.

To transfer CGST input RCM to regular CGST input, you can use the option to generate RCM to regular tax adjustment. Specify the voucher series, voucher date, and click the save button. This will create a journal voucher with the GST nature as GST tax adjustment. Debit the CGST input account and credit the CGST input available RCM account.

RCM accounted for Quarterly in BUSY we need to insured that the recorde RCM expenses & RCM consolidate payable entry for reverse liability should be in appropriate acounts with relevant deatils , these RCM voucher entries automatically reflected in GST reports & when you filed Quarterly return RCM entries will be included automatically for accurate reporting & GST compliance

To pass the RCM payable entry in BUSY you need to follow the steps 
 Step1 Go to transaction menu and click on GST Misc Utilities option 
 Step2 then select Check post consolidated RCM and select the basis monthly or daily as per your requirement 
 Step3 select the month and press F4 to post RCM consolidated voucher

To find your BUSY software's serial number, open BUSY in license mode. You should see your serial number on the title bar of the BUSY application. If you can't locate it there, you can provide us with the email address or mobile number you used for registration, and we can check our database to provide you with the information.

To resolve RCM payable not reflecting in GST payable, you can try using the:
 Step 1 : Click on transactions
 Step 2 : Go to GST Miscellaneous Utilities
 Step 3 : And check or post Consolidate RCM Payable. 
 Step 4 : Additionally, make sure to select the correct GST nature as RCM expense while making the entry.