The Trial Balance is your go-to report when something feels off in your accounts or reports aren’t adding up. It gives you a full snapshot of all your account balances, helping you identify discrepancies before making critical business decisions or filing financial reports.
The Trial Balance report is structured into a simple, easy-to-scan table grouped by account type with their current balances:
Assets: Everything the business owns.
Liabilities: What the business owes.
Equity: Owner’s capital and retained earnings.
Revenue: All your earned income.
Expenses: All outgoing costs and business spending.
Negative balances are shown in brackets, helping you easily identify any potential red flags.
You can interact with the report using built-in tools designed to help you analyze your accounts more effectively:
Date Filter: Choose any specific date to view your financial position at that point in time.
Total View: Toggle between monthly, quarterly, or yearly views to monitor account behavior over time.
Export Option: Download the Trial Balance as a CSV file for deeper analysis or sharing with your accountant.
Ask Adam: Getting Financial Insights on Tyms
You can use Ask Adam to start a conversation and get insight into your financial position. You'll find it in the top-right corner of your account, alongside the settings, credit, and profile icons.
With Ask Adam, you can request:
A smart summary highlighting major shifts in your financial activity (e.g., spikes in expenses or drops in revenue).
Warnings if your books are imbalanced, for example, if total assets don't match liabilities and equity.
Recommendations based on what Adam finds, so you know what to review or correct before moving forward.
You don't have to be a professional to know when something's wrong. Adam gives you simple breakdowns and suggestions if your trial balance looks off, helping you take action before it becomes a problem.