How to Generate and use Income Statement in Tyms

The Income Statement, also known as the Profit and Loss Statement, shows a company’s revenues, expenses, and profits or losses over a specific period.

Step 1: View the Income Statement

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 "Income Statement" from the sidebar navigation menu.

Step 2: Customize the Income Statement Report

After accessing the Income Statement, use these options to tailor the report to your needs:

1. Filtering Options:
   • Choose a custom period: You can select specific periods like "since 30 days ago, since 60 days ago, this year, last year, or all time" to focus on specific financial periods.
2. Comparison Options:
   • Compare with last year: This option allows a year-over-year view.
   • Compare with last period: View data in comparison with the previous period.
   • No Comparison: Review the report without any comparative data.
3. Grouping Options:
   • Group by Period: Choose to group entries as monthly, quarterly, annually, or total only to observe trends over time.
   • Group by Branch: View financial performance per branch.
   • 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: Hide zero-balance entries to streamline the report.

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 income statement. (Note: Tyms AI offers insights, not financial advice.)