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Your chart of accounts

The chart of accounts is the list of categories every transaction posts to. Tyms sets up a complete, numbered list for each new business, and you can tailor it.

Go to Chart of Accounts in the sidebar.

Chart of accounts

Find your way around

  • Tabs: Assets, Liabilities, Equity, Revenue, Expenses.

  • Columns: Code, Name, Type, Subtype, Description, Opening balance, Opening date and Balance. Use Edit columns to show or hide them.

  • Export downloads the list.

Accounts Tyms creates for you

  • A standard set: receivables, cash, petty cash, fixed assets, accumulated depreciation, intangible assets and more, each with a code (e.g. 11001 Cash).

  • A bank account for each bank you add. Adding Chase Business Checking creates an Assets account with subtype Bank and the bank's opening balance.

Add an account

Click Add Chart of Account, choose the type and subtype, and give it a name, an optional code and description, and an opening balance and date.

Opening balances

Enter what each account held on your opening date, from your last balance sheet or your accountant. Bank opening balances come from the bank account form.

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