How to Generate and use Trial Balance in Tyms

The Trial Balance is a report that lists all the accounts in your general ledger and shows the balance for each account. This report helps ensure that total debits equal total credits, a necessary step in maintaining accurate financial records.

Step 1: View Trial Balance

1. Login to your Tyms account (https://app.tyms.io/auth/login).
2. Navigate to the "Accounting Module" from the module list in the top left corner of your screen.
3. Select "Trial Balance" from the sidebar navigation menu.

Step 2: Customize the Trial Balance Report

After accessing the Trial Balance, use these options to tailor the report to your needs:

1. Filtering Options:
   • Choose the period you’d like to view: You can select specific periods like "this quarter end, last quarter end, or this year end". This determines the end date up to which balances are shown, with the selected start date setting the opening balance. Filtering by period helps focus the report on specific time frames for easier analysis.
2. Comparison Options:
   • Compare with the last year: This option shows the report alongside data from the previous year, providing a year-over-year comparison.
   • Compare with the last period: Select this to compare the report with the immediately preceding period, useful for identifying short-term changes.
   • No Comparison: View the report for the selected period without any comparative figures, ideal for a straightforward view.
3. Grouping Options:
   • Group by Period: Select a frequency such as monthly, quarterly, annually, or total only to view data by specific intervals. This is especially useful for analyzing trends over time.
   • Group by Branch: View balances categorized by branch, allowing you to assess each branch’s financial status individually.
   • Group by Project: Organize data by project, useful for evaluating project-related finances.
   • Group by Contact: Filter balances by contact to focus on specific client or vendor-related transactions.
4. Zero-Balance Visibility:
   • Show or Hide Zero Balances: Opt to display or exclude accounts with zero balances. Hiding zero balances can make the report easier to read by focusing only on accounts with activity.

Step 3: Export the Report

1. Export the report in Excel or PDF format using the icons at the top-right.

Step 4: AI Insights

1. Use the "Ask Tyms AI" feature to get insights on your trial balance. (Note: Tyms AI offers insights, not financial advice.)