Q1. How to create a new financial year?
Ans. Go to Administration => Change Financial Year => New Year from XX-XX-XXXX
Q2. How to create a separate company for new financial year along with all masters &
Ans. Follow below mentioned steps:
Q3. How can I transfer my profit to Capital account?
Ans. Pass the following Journal voucher
Profit & loss account Dr. (Predefined master)
To Partner/ Proprietor Account (under group Capital account)
To Partner 2 (If any) (under group Capital account)
Q4. After transferring the profit, “Profit & Loss adjusted” is showing in asset side of
my Balance Sheet. What is the relevance of it?
Ans. When we transfer the profit into capital account, “Profit & Loss adjusted” is start showing in asset side of Balance Sheet. By default, BUSY always shows the profit & Loss Account in Balance Sheet. When we pass the transfer voucher, it mismatches the balance of Asset & Liability. To match the Balance of Both sides, “Profit & Loss Adjusted” starts showing on the other side of Balance Sheet. It is just to tally the asset & liabilities of balance sheet & will not show in printing.
Q5. My closing balances are not properly carried over to new financial year. How to
Ans.Kindly follow below mentioned steps:
Q6. At the time of switching to new financial year, RTE-91 (Object variable not set) is
coming. How to resolve this issue?
Ans. Kindly follow below mentioned steps:
Q7. At the time of switching to New Year, a message related to “BANK
RECONCILIATION FEATURE” is coming. What is the relevance of it?
Ans. This option only comes when you are using Bank Reconciliation feature. If you want to carry over the information of unclear cheques to New Year, select the “YES” option, Otherwise, select “NO”.
Q8. How can we work in multi financial year simultaneously?
Ans. If customer is using single user license then they can’t work in multiple year simultaneously in single company. If customer is using Multi-user license then they can open BUSY multiple times and open the same company more than one time. In every Instance of BUSY, different financial year can be open of same company.
Q9. How can I define the value of my stock manually?
Ans. To enter value of stock manually, follow below mentioned steps:
Q10. I carried over the balances to next year, but still my Stock Account is not showing
the value of stock in current year. How to resolve this problem?
Ans.Follow below mentioned steps to resolve the problem: