Frequently Asked Questions

process for general entry in BUSY for business expenses please follow the below steps
 Step 1: Go to the Add New Journal Voucher screen.
 This is where you initiate the process of entering a new journal entry.
 Step 2: Mention the date & GST nature as Registered expenses (B2B) to reflect that this is a business-to-business transaction subject to GST.
 Step 3: Mention all relevant accounts of expenses, GST, and party accounts with relevant amounts.Enter the accounts involved in the transaction.This might includeExpense accounts (such as utilities, rent, salaries, etc.)GST accounts (input tax, output tax, etc.)Party accounts (the accounts of the businesses involved in the transaction)Specify the relevant amounts for each account to reflect the financial impact of the transaction accurately.
 Step 4: After that, the Register Expenses screen will appear. Select all relevant details like party name, HSN code, tax rate, unit, purchase invoice number, etc., with valid ITC eligibility & save the voucher.

As a painter using BUSY software, you can account for Reverse Charge Mechanism (RCM) on your freight bills by creating a purchase voucher for the freight expenses. In the voucher, select the appropriate RCM Nature and enter the details of the freight charges. This will help you accurately record and track your RCM liability 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 Type: Local-RCM / UnReg or Service Import-RCM or as required.
 Step 5: Select ITC Eligibility: Input Goods/Services and will get option for reverse charge: Compulsory or Service Import as required.
 Step 6: Enter item details qty & price and general purchase entry details.
 Step 7: Save Purchase Vouchers.

Please follow the below steps for enter RCM expense entry
 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: Select GST Nature as RCM Expense
 Step 4: Select debit the RCM account and enter Debit amt.
 Step 5: Select credit the party account.
 Step 6: To check RCM report Go to Transactions Menu click on GST Misc. Utilities option.
 Step 7: Check/Post Consolidated RCM Payable and select the option Monthly Basis or Daily Basis.
 Step 8: Choose the monthly basis and select the relevant month.
 Step 9:Press F4 to generate consolidated entry and save the entry with the date as the last date of the month.
 Step 10. Open GST summary and GSTR 1 , 3b , RCM entries would post automatically.
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In BUSY, you can create various types of GST invoices. These include:
 1. B2B (Business to Business) Invoices: These are used for transactions between one business and another.
 2. B2C (Business to Customer) Invoices: These are for transactions between a business and individual customers.
 3. Export Invoices: These invoices are used when selling goods or services to customers in other countries.
 4. Debit Notes: These are issued to increase the invoice amount, often used for making adjustments or correcting errors.
 5. Credit Notes: These are issued to decrease the invoice amount, typically for returns, discounts, or corrections.
 6. RCM Invoice (Reverse Charge Mechanism Invoice): These invoices are used when the recipient of goods or services is liable to pay GST instead of the supplier.
 7. Bill of Supply: This is used for transactions where GST should not be charged, such as exempt supplies or small businesses not required to collect GST.

The process to post RCM entry for both registered and unregistered parties are same. You can post RCM enrty by follow these steps:
Step 1: Go to Transactions section then Click on Journal Voucher option.
Step 2: Select the add option and create the voucher with voucher series, date, number, RCM expenses in GST nature and post accounting entry for same.
Step 3: After fill the required details, save the invoice.
To post RCM consolidated entry in BUSY, follow these steps:
Step 1: Go transaction section then select GST Misc. Utilities menu.
Step 2: Now, Click on Check/Post consolidate RCM payable option and then you have to select the range for which RCM consolidate to be post. You can either select Monthly basis or daily basis.
Step 3: Next, Mention the date range/month and open the RCM payable report.
Step 4: Select the entry and can post RCM consolidate entry by Pressing Function key F4 and save the window.

To check if the RCM entry is reflecting in the GSTR-3B report, you need to follow the below steps:
 Step 1: Go to the list of purchase vouchers and check if the RCM entry's purchase type is under the RCM category.
 Step 2: If you made an RCM expense entry, then check the expense ledger. The RCM nature is under Compusory, and the expense voucher ITC Eligibility option is selected as RCM Expense.
 Step 3: If all the entries were properly entered, then go to the transaction menu. Click on gst misc utilities.
 Step 4: Click on Check Post Consolidated RCM, then click on Monthly and select the month to find the RCM expenses entry in BUSY."
 Step 5: After ensuring the above option, you need to go to Display, then GST Reports. Click on GST Returns, then GSTR-3B. Here you can find the RCM entry under the reverse charge.

To renew your BLS in BUSY:
 Step 1: Contact your local BUSY service provider (channel partner or dealer).
 Step 2: Call the sales team at 8282828282 and inform them that you want to renew your BLS. They will guide you through the process.
 To link RCM (Reverse Charge Mechanism) expenses to a specific project in BUSY:
 Go to the Transaction option.
 1.Open a journal voucher in BUSY by clicking on Add.
 2.Select the voucher series and date.
 3.Set the GST nature as Registered Expense (B2B).
 4.Enter the service provider's details in the Party Account field.
 5.Add the service charges in the Debit column.
 6.Choose the appropriate ledger account for the service charges.
 7.Enter the GST amount in the Tax column.
 8.Select the relevant GST ledger account.
 9.Provide the necessary details for registered expenses (required for GSTR2).
 10.Save the voucher to record the service receipt with GST for your project.

To transfer RCM Input to Regular Input you need to Follow the Steps 
 Step1 Go to Transaction menu and click on GST Misc Utilities Option 
 Step2 Click on Check post consolidated Rcm entries 
 Step3 Click on monthly or daily basis option 
 Step4 Select the month and ok 
 Step5 Press F4 to passout consolidate voucher entry automatically 
 generated from BUSY to adjust RCM Input into Regular Input 
 To adjust IGST in RCM liability you need to follow the steps 
 Step1 Go to display menu and select GST reports 
 Step2 Click on GST summaries option and click GST summary 
 Step3 select the period or month for which you want to adjust and click ok
 Step4 press F4 and select RCM to regular tax adjustment to adjust your 
 RCM in IGST 
 Step5 pass the journal entry generated automatically by BUSY

To book an RCM expense entry for a Consolidated Voucher in BUSY please follow the mentioned steps. 
 Step 1: Create the expense master in BUSY, to create go in Administartion > Maters > Click on Accunt > Add and mention the expense. Specify Tax categogy and Cumpolsory under RCM expense.
 Step 2: Now select transations menu to post RCM expense vouhcer > Select journal voucher > Click on Add.
 Step 3: Sepecify RCM expense under GST nature for booking RCM entry.
 Step 4: Debit required Expense and credit the party account. 
 Step 5: After posting Expense entry, go in transaction > GST misc utilities > Select Check post consolidate RCM payable voucher > open the report and press F4 to post consolidate voucher, Save consolidate voucher in journal. 
 This is important to ensure that the RCM payment is reflected in the GST return summary report.

We may consider the following steps: 
 Step 1: Click on transaction menu & select journal voucher. & click on list and open that voucher. 
 Step 2: Click on list and open that voucher & click on gst nature. 
 Step 3: Gst nature should be selected as RCM expense. 
 Step 4: Do entry & debit the expense account and credit the cash/party account. 
 Step 5: Press alt+m on expense account & modify window will open & RCM nature should be selected as compulsory. 
 Step 6: After this process click on transaction menu & go to gst misc utilities. 
 Step 7: Click on the option check/post consolidated RCM payble>monthly basis>post pending RCM entry by F4. 
 Step 8: Click on display menu>GST reports>GSTR 3b>select month>open the report. 
 Step 9: RCM entries will relefect in the section 3.1(d) and in the section 4a(3).