API Reference

Overview

Classifying your records effectively with Chart of Accounts

The Chart of Accounts (COA) on Tyms is a structured list of accounts used to classify and record every transaction in your business. It enables real-time tracking, automation, and generation of key financial reports such as the income statement, balance sheet, and cash flow statement.

🧾 What Are Accounts?

In Tyms, accounts represent different financial activities and are grouped under standard accounting types:

Account TypeDescription
AssetsResources owned by the business (e.g., cash, inventory, receivables)
LiabilitiesObligations or debts (e.g., payables, loans)
EquityOwner's interest in the business (e.g., retained earnings, capital)
RevenueIncome generated from operations (e.g., sales, service income)
ExpensesCosts incurred to run the business (e.g., rent, salaries, utilities)

These account types form the foundation of your double-entry bookkeeping and ensure that every transaction is correctly categorized.

⚙️ Default COA Setup

Tyms automatically generates a default chart of accounts when you create a business on the platform. This default setup includes standard revenue, expense, asset, liability, and equity accounts, so you're ready to begin recording transactions immediately.

You can also create custom accounts via the Tyms API or Web App to fit your unique business structure.

🛠️ Using Accounts via API

When making API requests for transactions such as sales, expenses, or journals, Tyms expects you to reference the account by name, not by UUID.

  • ✅ For example, to record a sale, you might pass Online Sales or Consulting Revenue as the account name.
  • ✅ For expenses, you might pass Office Supplies Expenses or Marketing Expenses.

📌

The account must exist in your business's chart of accounts. Use the GET Account endpoints to retrieve the list of accounts.

🏦 How Bank Accounts Work

Bank accounts in Tyms are managed separately but are interconnected with the chart of accounts:

  • Bank accounts are associated with Asset-type accounts in your COA.
  • You will specify the account name of the bank when recording bank-related transactions.
  • For example, to record a bank payment, pass the name of the bank account as payment_account: "Zenith Bank - NGN".

🏦

Tyms also enables bank reconciliation, pulling bank statement data and matching it against recorded transactions.

💡 Additional Notes

  • 📘 Account names are unique within each business and serve as identifiers in API operations.
  • 📘 Tyms ensures account balance updates automatically based on transactions.
  • 📘 Use the GET Account endpoint to retrieve account names, types, and categories for use in your workflows.