How to Generate Financial Statements From Your Bank Statement in Minutes

If you’ve ever dreaded the end of the month because it means sorting through spreadsheets, transactions, and receipts just to create your financial statements, you’re not alone.

For most small business owners, preparing a Profit & Loss Statement or Balance Sheet feels like something only an accountant should do. And traditionally, it’s required hours of manual work: collecting bank statements, categorizing expenses, entering data into spreadsheets, and double-checking totals.

But what if you could skip all of that?

Thanks to modern accounting technology, especially AI-powered tools, you can now generate clean, professional financial statements directly from your bank statement in just a few minutes.

No spreadsheets. No stress. Just upload and go.

📄 Why Financial Statements Matter

Let’s start with the basics.

Financial statements are the foundation of understanding your business. They help you answer critical questions like:

• Are we making money or losing it?
• How much did we spend on operations last quarter?
• What do we owe, and what’s owed to us?
• Are we ready for tax season or investor reviews?

The most common reports include:

• Profit & Loss Statement (Income Statement)
• Balance Sheet
• Cash Flow Statement
• Trial Balance

Traditionally, generating these reports requires either a trained accountant or multiple hours of manual bookkeeping. But not anymore.

😩 The Traditional Process (and Why It’s So Painful)

Here’s what most business owners have to do just to get a financial statement ready:

1. Download bank statements from multiple accounts
2. Convert them to CSV or copy data into Excel
3. Manually categorize every transaction
4. Match incomes and expenses to relevant accounts
5. Use formulas or templates to build out a report
6. Double-check for mistakes or inconsistencies
7. Repeat every single month, and for every account

Not only is this error-prone, but it also wastes time you could be spending on strategy, sales, or delivering for clients.

That’s exactly why AI-powered accounting assistants like Adam by Tyms exist.

⚙️ How to Generate Financial Statements in Minutes With Adam by Tyms

Here’s how it works, no spreadsheets required.

Step 1: Upload Your Bank Statement

Whether your bank provides PDFs, CSVs, Excel files, or even unstructured email exports, Adam can handle them.

Just go to the Data Tables feature inside Adam by Tyms and upload your file. You don’t need to reformat or clean up anything, the AI will recognize the transaction data automatically.

Step 2: Adam Auto-Categorizes Your Transactions

Once uploaded, Adam immediately begins sorting through your income and expenses.

• It identifies the transaction type (sales, rent, subscription, payroll, etc.)
• Applies intelligent categorization using context and behavior
• Detects duplicate or suspicious entries
• Prepares your data for reporting without any input from you

There’s no need to assign chart of account codes or learn accounting language. Everything is handled in the background.

Step 3: Go to Reports and Generate Your Statements

After the data is organized, all you have to do is click on Reports. From there, you’ll find your:

• Profit & Loss Statement
• Balance Sheet
• Cash Flow Report
• Trial Balance
• And more

All automatically prepared, properly formatted, and ready to download, export, or share.

No number crunching. No formula errors. Just clean, clear reports, generated in minutes.

💡 Why This Matters for Tax Season and Business Growth

One of the biggest challenges during tax season is having clean, categorized financial data. With Adam:

• Your expenses are already grouped into tax-friendly categories
• You can generate year-end reports with a few clicks
• You’ll have documentation ready for filing or working with your tax advisor

Plus, you’ll save hundreds, even thousands, on bookkeeping or accountant fees, simply because your data is already organized.

Beyond taxes, automated reporting means:

• Smarter financial decisions
• Faster access to funding or investment
• Better compliance and audit readiness
• Clearer understanding of business performance

🧠 Why Adam by Tyms Changes the Game

While other accounting tools let you generate reports, they often require setup: creating accounts, defining rules, manually classifying data, and learning their interface.

Adam is different. It’s built as an AI-native assistant, meaning it speaks your language, not accounting jargon.

You don’t need to “build” a report. You just ask for it:

“Adam, show me my income statement for Q1.”
“What’s our monthly profit trend?”

Adam handles the rest, pulling in your transactions, applying logic, and generating real insights.

This is especially powerful for:

• Non-accountants
• Busy founders
• Small teams without in-house finance
• Freelancers, consultants, and e-commerce sellers

⏱️ How Long Does It Actually Take?

The entire process, from upload to report, takes under 15 minutes.

So what used to take a few hours every month (or cost hundreds in outsourced bookkeeping) is now:

• Automated
• Accurate
• Always ready when you need it

👋 Say Goodbye to Manual Reporting

Let’s recap:

• No more formatting spreadsheets
• No more categorizing line items by hand
• No more copy-pasting from one tool to another
• No more scrambling for reports during tax season

Just upload your bank statement → go to Reports → and you’re done.

That’s the power of Adam by Tyms.

🎯 Try It Today — For Free

You don’t need to be an accountant to generate financial statements like one.

👉 Get started with Adam for free

Upload your first bank statement and watch your financials come to life, in minutes, not hours.