Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - rcm data feeding and report
Where should I enter the taxable value in the RCM voucher? Can you guide me?.
To enter taxable value in RCM Voucher Kindly follow the following Steps:
Step 1: Go to Transactions Menu Click on Journal Voucher option.
Step 2: Under the Journal Voucher click on add. option.
Step 3: Enter Journal Voucher Header details - Select Voucher Series name, date, voucher no.,
Step 4:...
How do I handle RCM adjustments or corrections in the software? How can I enter my RCM expenses into the software?
To Correct a mistake in RCM entries and enter RCM expenses into BUSY Kindly follow the following Steps:
Step 1: Go to Transactions Menu Click on Journal Voucher option.
Step 2: Under the Payment Voucher click on add. option.
Step 3: Enter Journal Voucher Header details - Select Voucher Series...
The RCM tax amount is not getting reflected in the RCM payable/receivable sections under GST summary. What should I check?
If the RCM tax amount is not getting reflected in the RCM payable/receivable sections in GST summary report, you should check if the RCM expenses voucher have been correctly booked and if the consolidated RCM payable entry has been posted.
Please follow below steps to post RCM expense and consolidate...
What is the correct process to first book RCM expenses and then consolidate the voucher?.
You can pass RCM entries with purchase voucher entry. Kindly follow the following Steps:
Step 1: Go to transactions Menu click on Purchase voucher option.
Step 2: Under Purchase voucher click on Add.
Step 3: In Purchase voucher header select Series name, date, vch no. type.
Step 4: Select Purchase...
What is the process for booking RCM expenses and consolidating them?.
You can pass RCM entries with purchase voucher entry. Kindly follow the following Steps:
Step 1: Go to transactions Menu click on Purchase voucher option.
Step 2: Under Purchase voucher click on Add.
Step 3: In Purchase voucher header select Series name, date, vch no. type.
Step 4: Select Purchase...
How do I record reverse charge transactions in BUSY?
To record reverse charge transactions in purchase voucher in BUSY Software you can follow the Steps.
Step 1. Open BUSY Software
Step 2. Open company
Step 3. Go to transaction menu click
Step 4. In purchase type you have to select the rcm unregistered purchase type.
Step 5. In reverse...
How do i take RCM expenss in BUSY
You can pass RCM entries with purchase voucher entry. Kindly follow the following Steps:
Step 1: Go to transactions Menu click on Purchase voucher option.
Step 2: Under Purchase voucher click on Add.
Step 3: In Purchase voucher header select Series name, date, vch no. type.
Step 4: Select Purchase...
I want to charge RCM on freight, how do I do that in BUSY?
To enter RCM entry in BUSY for Charge RCM on freight, follow the below-given steps:
Step 1: Go to the Administration menu and click on the Master option.
Step 2: Click on the Account option and create a Freight account under Group Indirect
Expense.
Step 3: Define RCM Nature as...
What is the process to apply RCM in BUSY?.
To apply Reverse Charge Mechanism (RCM) in BUSY, you can enter RCM transactions through purchase vouchers or journal vouchers. Kindly follow the following Steps:
Step 1: For Journal Voucher: Go to Transactions Menu Click on Journal Voucher option.
Step 2: Under the Journal Voucher click on add. option.
Step 3:...
Can you transfer me to the BUSY call center for additional support? I made a mistake while passing the RCM entry and now the wrong GST is applied How can I rectify this?
This call connected already in BUSY call center for support, you can ask your query.
You made a mistake while passing the RCM entry and now the wrong GST is applied, to rectify this, you need to follow the below steps:
Step 1: Start by going to the Transaction Menu.
Step 2: From there, pick GST Misc. Utilities and then select Check/Post Consolidated RCM Payable.
Step 3: Decide whether you want to post RCM Payable vouchers on a monthly or daily basis.
Step 4: Specify the date range or month for posting RCM Vouchers and rectify the RCM entry and click OK.
Step 5: Press the F4 button on the report screen to post RCM Payable vouchers.
Step 6: Under the Generate Consolidated RCM Payable Voucher screen, select your Journal Voucher Series and the respective Accounting Master (usually the default master is selected). Then, click the Save button.
Step 7: The system will automatically post the accounts and their RCM payable amounts in the Journal voucher. You only need to save the Journal voucher.
By following these steps, you can successfully post and rectify your RCM entry in BUSY.
