Frequently Asked Questions

For posting RCM tax liabiliy in bulk, please follow below mentioned steps:
 Step 1: Go to Transaction menu.
 Step 2: Click on GST Misc. Utility and select generation of report as monthly or as on date. 
 Step 6: Press F4 key to post consolidate voucher. 
 Step 7: Click on ok for automatic posting for journal voucher.

RCM amount in payment voucher is showing after posting consolidated voucher. Kindly follow below steps for posting consolidated voucher.
 Step 1 : Go in transaction GST misc utilities and post consolidated expense voucher. 
 Step 2 :Select voucher posting monthly or daily basis and open the report.
 Step 3: Press F4 key to post consolidate voucher to Save.

To see data for reverse charge within a specific date range in BUSY, you need to follow these steps:
Step 1: Open your company then go to Transactions menu.
Step 2: Select GST Misc. Utilities and click on Check / Post Consolidated RCM Payable.
Step 3: Select Daily Basis and enter the date range and you will the reverse charge vouchers.

For Viewing the past RCM input, please follow below mentioned steps:
 Step 1: Go to Display tab, GST report and GST summary.
 Step 2: In GST summary, you will find section of RCM Input adjustment.
 Step 3: Press F4 key to adjust RCM input to Regular Tax adjustment. It will reimburse the RCM input to regular tax.

For viewing the Consolidated GST liabiliy for the month, please follow below mentioned steps:
 Step 1: After posting Expense entry, go in transaction GST misc utilities and creating expense liabiity. 
 Step 2 :Select voucher posting as monthly and open the report.
 Step 3: Press F4 to post consolidate voucher. It will save consolidate voucher in journal.

For check RCM liability reflecting correctly in BUSY after posting entry please follow the below steps 
 step 1: go to the GST reports under display menu 
 step 2: open GST summaries and click on GST summary
 step 3: mentioned relevant month and other option then open report there you can see your RCM liabilty posting

For create a party for your RCM expenses please follow the below steps 
 Step 1: Go to the master option under administration menu
 Step 2: then add new account master 
 Step 3: entered party name , account group, pick relevant GST type, tax rate , hsn code ,itc eligibility and RCM nature and save ledger.

To tag your RCM Invoices to avail input tax credit you need to follow the process 
 Step1 go to transaction menu and click on GST misc utilities 
 Step2 click on Check post consolidated rcm then select monthly basis 
 Step3 select the month and ok 
 Step4 press F4 to post consolidate RCM entries

To avoid problems with incorrect balances after RCM entries in BUSY, make sure to follow these steps:
 1. While making a RCM Entry, you should make sure RCM expense must be selected.
 2. Double-check the accuracy of the RCM entries before saving them.
 3. Regularly reconcile RCM entry amount and posted amount from given report.

To enter reverse charge tax details in BUSY you need to follow the staeps 
 1 go to the purchase voucher where you enter rcm entry open item master in modify mode and chage item tax category
 2 go to the expense voucher select and opoen the expense ledger in modify mode and change tax category