Frequently Asked Questions (FAQ) for BUSY

• Automation of repetitive tasks, saving time and reducing errors
• Improved accuracy in financial reporting and analysis
• Enhanced organization and accessibility of financial data
• Facilitation of compliance with accounting standards and regulations
• Real-time insights into the financial health of the business
• Streamlined collaboration among team members and stakeholders

• General ledger management
• Accounts payable and receivable
• Bank reconciliation
• Financial reporting and analysis
• Budgeting and forecasting
• Inventory management
• Tax management
• Multi-currency support
• Integration with other business systems

• Creation and customization of electronic invoices
• Integration with accounting systems for seamless data transfer
• Automatic generation and delivery of invoices
• Tracking and monitoring of invoice status and payments
• Compliance with e-invoicing standards and regulations
• Secure storage and retrieval of invoice data
• Reporting and analytics capabilities for insights into invoicing performance

• Invoice customization and branding
• Automated invoice generation and delivery
• Integration with accounting and ERP systems
• Compliance with e-invoicing standards and regulations
• Secure data storage and encryption
• Multi-platform accessibility (desktop, web, mobile)
• Reporting and analytics tools for performance tracking
• Scalability to accommodate business growth
• Customer relationship management (CRM) integration for streamlined invoicing workflows.

• Streamlining the reconciliation process, saving time and effort
• Minimizing errors and discrepancies in GST filings
• Providing real-time insights into GST compliance status
• Automating repetitive tasks, reducing manual intervention
• Enhancing accuracy and ensuring compliance with GST regulations

Steps to Export Invoices to PDF in BUSY Online

• Data discrepancies (invoice mismatches, incorrect GSTIN, wrong amount)
• System integration problems (accounting software misalignment with GST portal)
• Multiple GSTINs
• High transaction volumes
• Complex tax rules

1. Distance Calculation: Difficulty in accurately calculating the distance between supplier and recipient locations.
2. Validity Issues: Potential for e-way bill validity issues due to incorrect distance calculations.
3. Distance Limit: Challenges when the distance exceeds the system’s 3,000-kilometre limit.
4. Manual Errors: Increased risk of manual errors in distance entry.
5. Compliance: Ensuring compliance with regulatory requirements.

• Reason for Extension
• Remarks
• Extra Eway Bill Distance Required
• Current Eway Bill Validity Time
• Current Location
• Transportation Mode
• Consignment ID
• Transportation Document
• Vehicle Number and Type

• Application Form RFD-01
• Copies of invoices related to deemed exports
• Payment challans
• Bank statements showing payment
• Shipping bills (if applicable)
• Certificate of receipt of goods/services
• Any additional documents specified by the tax authorities.

• Personal account: Debit the receiver, credit the giver.
• Real account: Debit what comes in, credit what goes out.
• Nominal account: Debit all expenses and losses, credit all incomes and gains.

• -Net profit from the Profit and Loss Account
• -Appropriations like reserves, dividends, and partner’s share of profit

• – Distribution Focus: It outlines how partners or shareholders allocate profits.
• – Adjustments: It adjusts for reserves and other appropriations before arriving at the final profit shared.

• – Net profit
• – Reserve allocations (e.g., general reserve, specific reserves)
• – Dividends paid to shareholders
• – Share of profits for partners in a partnership

• -Transparency: It provides a clear view of how profits are distributed.
• – Financial Planning: It helps plan reserves and dividends, ensuring the business’s financial stability.

• Nature of Document: GSTR-2A is dynamic, meaning it updates in real-time as suppliers file or update their returns. In contrast, GSTR-2B is static, generated once per tax period and doesn’t change after that.
• Purpose: GSTR-2A helps with real-time tracking of ITC from suppliers, while GSTR-2B provides a final summary of ITC for accurate claims.
• Timing Differences: GSTR-2A reflects ongoing supplier filings, but GSTR-2B is based on returns filed by a specific date, ensuring no further updates for that period.

• Taxpayers should use GSTR-2B for accurate ITC claims because it’s a finalised statement that doesn’t change after generation.
• GSTR-2A is useful for ongoing tracking but might not be reliable for final ITC claims since it keeps updating.
• For precise filing, GSTR-2B is more dependable due to its static nature.

• Step 1: Download GSTR-2B from the GST portal.
• Step 2: Match each invoice from your PR with the invoices listed in GSTR-2B.
• Step 3: Identify discrepancies—if any invoices are missing or mismatched, communicate with suppliers to ensure proper filing for ITC.

• Eliminates the cascading effect of taxes
• Reduces the overall tax burden
• Promotes transparency and accountability in tax collection.
• Boosts interstate trade by removing barriers like entry taxes.

1. E-invoicing involves generating invoices and uploading them to the Invoice Registration Portal (IRP) for validation and authentication.
2. In BUSY, you can create an e-invoice and obtain the IRN (Invoice Reference Number) and acknowledgement number.
3. A QR code is also generated along with the e-invoice, containing all the relevant invoice details.

• First 2 digits: State code
• Next 10 digits: PAN of the business
• 13th digit: Entity code
• 14th digit: Blank (default “Z”)
• 15th digit: Checksum.

1. Identify the error clearly.
2. Issue a revised invoice with the corrected details.
3. Reference the original invoice number for clarity.
4. Ensure the revised invoice is reported in the GST return.
5. Communicate the revised invoice for ITC claims to the recipient.

1. Visit ewaybill.nic.in.
2. Click “Registration” and select “GST Registration.”
3. Enter your GSTIN and Captcha.
4. Verify OTP sent to your registered mobile number.
5. Create a username and password.
6. Submit the form to complete the process.

1. Go to the Transactions menu.
2. Select the voucher type where you want to make an entry (e.g., Sales, Purchase, Payment, Receipt).
3. Click on “Add” to enter voucher details and save the entry.

1. Accounting Vouchers: Payment, Receipt, Contra, Journal, Debit Note, Credit Note.
2. Pure Inventory Vouchers: Stock Transfer, Stock Journal, Production, Unassemble.
3. Dual Vouchers: Sales, Sales Return (Credit Note), Purchase, Purchase Return (Debit Note).

1. Open your company and go to the Administration menu.
2. Select Bulk Updations, then click on Bulk Payments.
3. Choose either Amount Payable or Bills Payable, enter the date, and click the down arrow to fetch details.
4. Select the Voucher Type, Series, Date, and set Y on Clear Full (or modify the amount as required).
5. Click on Save, and the system will post the payment vouchers in bulk.

1. Go to Administration, then click on Configuration.
2. Select Voucher Series Configuration and choose the voucher type (e.g., Sales, Purchase).
3. Select the required voucher series, then click on Voucher Numbering.
4. Choose Numbering Type as Automatic or Manual.
5. If selecting Automatic, set the prefix, suffix, and starting number as needed.
6. Click OK to save the settings.

Note: Always back up your data before making changes.

1. Open the Administration menu and select Configuration.
2. Click on Voucher Series Configuration and select the voucher type (e.g., Sales, Purchase).
3. Choose the voucher series, then click on Voucher Numbering on the right side of the screen.
4. Set the Numbering Type to Automatic and configure the settings (prefix, suffix, starting number, etc.).
5. Save the settings and click No when prompted to renumber all vouchers in the series.

Note: Ensure you have a recent data backup before making any changes.

1. Go to the Display menu and navigate to Outstanding Analysis.
2. Select Bills Receivable, then choose Group of Accounts.
3. Enter Sundry Debtors as the group name, specify the date range, and generate the report.

1. Sundry Creditors: This group is assigned to parties from whom purchases are made.
2. Sundry Debtors: This group is assigned to parties to whom sales are made.

By tagging accounts correctly, businesses can easily track outstanding payables and receivables.

1. Go to the Display menu and select Outstanding Analysis.
2. Choose Bills Receivable / Payable, then select Group of Accounts.
3. Specify the group name as either Debtors or Creditors.
4. Enter the required date range and other parameters, then generate the report.

1. Backup your data before proceeding.
2. Switch to the previous financial year by pressing F11.
3. Go to the Housekeeping menu and run Update Master Balance in the previous financial year.
4. Open the Administration menu and select Change Financial Year.
5. Choose the correct “Financial Year From”, then select “Carry Forward the Balance” as Yes with the option “New and Changed Masters”.
6. Click the Start button to begin the carry-forward process.
7. After the process is completed, check whether the opening balance now matches the last year’s closing balance.

• Easy remote access to financial data
• Cost-effective subscription model
• Seamless coordination among team members
• Automation of invoicing and reporting
• Enhanced data security with encryption and backups
• Real-time financial insights

• Sell BUSY Accounting Software and earn high commissions
• Provide software installation, training & support to customers
• Offer AMC (Annual Maintenance Contracts) for recurring income
• Grow your business with minimal investment
• Get access to marketing, sales & technical support

• Visit the Partner Page – Go to 👉 https://busy.in/become-a-partner/
• Fill Out the Application Form – Provide your business details and contact information.
• Submit Required Documents – Share your business registration details (if applicable).
• BUSY On-Boarding Team Review – the BUSY team will evaluate your application and connect with you.
• Complete Onboarding – Attend a brief training session and get access to partner benefits.
• Start Selling & Earning – Begin promoting BUSY Accounting Software and grow your revenue!

• Sales & Marketing Support – Promotional materials, lead generation assistance, and branding resources
• Technical Training – Regular training sessions on software features and implementation
• Dedicated Partner Support – 24×7 assistance for sales, onboarding, and customer queries
• Business Growth Opportunities – Incentives, competitive margins, and special partner programs

• You invest ₹ 1 lakh to join as a BUSY Channel Partner
• After deducting 18% GST, the remaining amount is credited to the partner’s BUSY account
• You can use this credit to buy BUSY software licenses for sale
• You earn a profit margin of up to 48% on each sale

• Partner Training & Certification
• Sales & Marketing Materials
• Product Knowledge Sessions