How to create Company in BUSY Accounting Software??
After the installation of BUSY, the next step is to create a company in BUSY on which you can work upon. To create a company, perform the following steps:
- Run the BUSY application.
- On running the BUSY application, a Security Checked message box appears. Click the OK button in the message box. On clicking the OK button, the Startup screen of BUSY appears. Given here is the screenshot of the Startup screen of BUSY.
Start up Screen of BUSY
- Click the Company > Create Company option to create a new company. On clicking the Create option, a Create Company window appears. Given here is a screenshot of the Create Company window.
Create Company window
In the window, there are various fields in which data needs to be entered. These fields are commonly referred to as Data Fields. Information about a company such as a Name, Address, and so on is required to be entered in different data fields. Various data fields in the Create Company window are:
·Name – Enter the Name of the company in this data field. You can enter a name of up to 40 characters. In the above screenshot, the name of the company is taken as Smart Clothings Pvt. Ltd.
·Print Name – Enter the Print Name of the company in this data field. Print Name refers to the name, which will be printed on the reports of the company. The name and Print Name of the company can be the same also. By default, the name entered in the Name data field is displayed as Print Name. You can also give the same Print Name to more than one company. Let us understand the relevance of Print Name with the help of an example. Smart Clothings Pvt. Ltd. Company has two branches, one in Delhi and the other in Mumbai. For this purpose, it created two companies in BUSY with the name Smart Clothings Pvt. Ltd. - Delhi and Smart Clothings Pvt. Ltd. - Mumbai. However, at the same time, it wanted that in the reports name of the company should appear as Smart Clothings Pvt. Ltd. instead of Smart Clothings Pvt. Ltd. - Delhi or Smart Clothings Pvt. Ltd. - Mumbai. Hence, it gives the Print Name of both the companies as Smart Clothings Pvt. Ltd. Now whenever it will print reports for any of these companies the name of the company in the report will appear as Smart Clothings Pvt. Ltd.
·Country – Specify the country in which the Company exists.
·State – Specify the state in which the Company exists.
·F.Y. Beginning From – F. Y. is the abbreviated form for the financial year. A financial year here refers to the accounting period under which your company is incorporated. Generally, an accounting period is from 1st April to 31st March. For example, if your company is incorporated on 1st June 2018 then enter 1st April 2018 in this data field as your company is incorporated in the financial year starting from 1st April 2018.
·Books Commencing From – Enter the date on which you have started the books of your company. Continuing with the above example, Books Commencing From date will be 1st June 2018. By default, the F. Y. Beginning From date is displayed as Books Commencing From date.
· Address – In the Address sub-group there are various data fields. The data fields are:
o, Address 1-4 – Four lines for entering the address of the company appear. Enter the address of your company in these four lines.
o IT Pan – Enter the IT PAN of the company in this data field.
o Tel. No. – Enter the telephone number of the company in this data field.
o Ward – Enter ward as specified by the Income Tax department under which your company falls in this data field.
o Fax – Enter the Fax number of the company in this data field.
o E-mail – Enter the Email address of the company in this data field.
·Currency Symbol – Specify the currency symbol applicable. For example, Rs. $, etc.
·Currency String – Specify the currency string applicable. For example, Rupees, dollars, etc.
·Currency Sub-String – Specify the currency sub-string applicable. For example, the sub-string for Rupees is Paisa or for Dollar is Cent.
·Enable VAT/GST – Specify 'Y' in this data field to enable VAT/GST for the company.
·Type – Select the type of tax i.e. VAT or GST.
·Enable Cess/ Add. Tax/ Schg. – Specify ‘Y’ in this data field if you want to enable Cess / Additional Tax / Surcharge for the company.
·Caption – Specify the caption to be used for Cess / Additional Tax / Surcharge / Cess in this data field.
·Enable Add. Cess – Specify ‘Y’ in this data field if you want to enable Additional Cess for the company.
·Caption – Specify the caption to be used for Additional Cess in this data field.
·GSTIN/TIN – Specify the GST number of the company in this data field if you have selected the type of tax as GST. Specify the TIN number of the Company in this data field, if you have selected the type of tax as VAT.
·Type of Dealer – This data field appears if you have selected the type of tax as GST. Select from the list whether the company is a Regular or Composition dealer.
regular – Select this option when the company is a large assessee and its turnover is more than 75 lacs in the previous year.
composition – Select this option when the company is a small assessee and its turnover is less than 75 lacs in the previous year.
·Default Tax Rate-1 – Specify the default tax rate applicable to the company. Based on the tax rate specified relevant Sale Type and Purchase Type masters will be created automatically.
·Default Tax Rate-2 – Specify the default tax rate applicable to the company. Based on the tax rate specified relevant Sale Type and Purchase Type masters will be created automatically.
In the case of Regular Dealer for GST India above two data fields will appear. But, in the case of Composition dealer following data field will appear:
·Default Tax Rate-1 – Specify the default tax rate as per which tax is to be paid to the government. The tax rate specified here will be then used to calculate the tax payable.
After entering data in the data fields, click the OK button. On clicking the OK button, a Save message box appears asking for your confirmation to save the information entered by you.
·Click the Yes button if you want to save the information otherwise click the NO button.
Copy Masters, Configuration, and Users from existing Company
Under Copy Masters, Configuration, and Users from the existing Company group following options appear:
·Not Required – Click this button if you do not want to Copy Masters, Configuration, or Users settings from any other company.
·Copy Masters & Config – Click this button if you want to Copy Masters and Configurations settings from some other company. On clicking this button, it will ask you to select an existing company from where the Masters and Configuration settings will be copied.
·Copy Masters, Config & Users – Click this button if you want to Copy Masters, Configurations settings, and User details from some other company. On clicking this button, it will ask you to select an existing company from where the Masters, Configuration settings and Users will be copied.
If you are creating a Company for the first time then the above two options are of no use to you. You can copy Masters, Configurations, or Users details only if a Company created in BUSY already exists at the path specified in the Set Data Directory option or at the Server specified in the Set Server Information option.
After entering the appropriate information, click the OK button.
·On clicking the Ok button a Save message box appears.
·Click the Yes button in the Save message box to save the information.
Once the company is created, a Congratulations message box appears confirming the creation of the company.
·Click the Ok button in the Congratulations message box. On clicking the Ok button, a SuperUser Creation window appears. Given here is a screenshot of the SuperUser Creation window.
SuperUser - Creation window
Before we discuss the creation of SuperUser, let us discuss the concept of SuperUser.
SuperUser
SuperUser is the top user in the hierarchy of users in BUSY. A SuperUser is like the owner of a business who has all the rights and access privileges in the business. It is the SuperUser who defines the rights and access of other users. SuperUser is defined at the time of the creation of a company. There can be only one SuperUser for a company. He has the right to create or modify any number of users. In addition, he has the right to enter, modify, delete and list any data of the company.
To create a SuperUser you need to enter some information in the appropriate data fields. Listed here are the fields:
·Super User – Enter the name of SuperUser in this data field.
·Password – Enter the password for the SuperUser. You can enter a password containing a maximum of 20 characters. When you enter the password it will appear in the form of asterisks (*) to maintain secrecy.
·Recheck Password – You are required to re-enter the password. This is done to confirm your password. If the password entered in the Recheck Password data field does not match with the password entered in the Password data field then an Error message will appear. In such a case, you will need to enter the password again in the Recheck Password data field.
After entering the data in the data fields, click the Save button. On clicking the Save button, a Save message box appears.
·Click the Yes button in the Save message box to save the SuperUser. Next, BUSY will create the SuperUser for the company.
After the creation of the SuperUser, BUSY automatically opens the Features / Options window in which you can configure various features and options as required in the company.
