The Balance Sheet is one of your core financial reports. It shows what your business owns (assets), what it owes (liabilities), and what belongs to the owners (equity), all at a specific point in time. Tyms makes it easy to generate this report and stay on top of your company’s financial health.
The Balance Sheet report is structured into a simple, easy-to-read table that breaks down your company’s financial standing into three core sections:
Assets: Everything your business owns, like cash, equipment, inventory, or property.
Liabilities: What your business owes, such as loans, bills, or outstanding payments.
Equity: What belongs to the owners after liabilities are subtracted from assets, including retained earnings and owner contributions.
You can interact with the report using built-in tools designed to help you analyze performance over time:
Date Filter: Choose any specific date to view your financial position at that point in time.
View Switcher: Toggle between monthly, quarterly, or yearly views to understand trends and seasonality.
Export Options: Download your report as CSV for presentations, accounting, or audit purposes.
Accrual basis view: Shows income and expenses based on when the transaction happened (invoice issued, bill received), even if payment hasn't been made or received yet. This gives a picture of what you've earned and owed, not just what's in your bank.
Cash basis view: Shows income and expenses only once money has actually moved, payment received or payment made. This gives a picture of your actual cash flow.
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 key financial changes (e.g., rise in total assets).
Warnings if there’s a financial imbalance, like liabilities exceeding assets.
Recommendations based on your current figures, helping you make informed business decisions.
This isn’t just about reading numbers, it’s about understanding what they mean and how they impact your financial health.