Frequently Asked Questions

RCM entries still shows as liability in below mentioned points.
 Step 1: Make sure that reference is created against RCM consolidated voucher.
 Step 2: Ensure that ledger amount should match with reference amount.

To adjust the RCM input with output you need to make a journal entry under GST nature
 Consolidate RCM payable where you need to Dr input available Rcm and Cr the Output RCM

To square off the CGST output RCM with CGST Input RCM you need to 
 make a journal entry where you have to debit CGST output RCM and Credit 
 CGST Input RCM

To get support for RCM transactions before using Teamware, you can reach out to BUSY's customer support. They will be able to assist you with any questions or issues related to RCM transactions.

for generate RCM in 3B you need to pass Consolidate RCM payable entries for the RCM expenses or purchase vouchers with relevant details after that RCM entries automatically show in GSTR3B report .

RCM voucher should be added when there is a reverse charge mechanism transaction and Under the RCM, the recipient of the goods or services is liable to pay GST instead of the supplier.

The RCM voucher is not getting consolidated if the RCM expense has not been booked first because the consolidation process requires the RCM expense entry to be made before consolidating the voucher.

To select RCM while doing purchase entry you have to select Local RCM Unreg or have 
 to create new purchase type of RCM where tax type must be under RCM Unreg

No ,We do not have any specific separate return for RCM entries.
Note : RCM entries will automatically reflect in GSTR3B, GSTR2 (in case of purchases ) and GSTR1 (in case of sales)

for GST return filing you can generate RCM report with use of GSTR 3B report .
 and for entered invoice received from the vendor in BUSY pleasew follow the below steps