Discover the Power of Tags in Managing Your Sales and Expenses

Unlock deeper insights into your financial transactions by leveraging tags and group tags effectively in QuickBooks Online. Tags serve as customizable labels, allowing you to track transactions in a way that aligns with your business needs. Whether it’s invoices, expenses, or bills, tags provide a flexible solution for organizing your financial data without impacting your books directly.

Step 1: Create Tag Groups
Start by organizing your tags into groups:

1. Navigate to Settings (gear icon) and select Tags.
2. Choose “Tag group” from the New ▼ dropdown.
3. Give your group a name and select a color.
4. Save your settings to create the group.

For instance, if you operate an event company, you might create a “events” group to track event-related transactions. Then, create tags for specific events and add them to this group.

Step 2: Create and Apply Tags
Easily create new tags while working on a form, such as an invoice or expense:

1. Enter the tag name in the Tags field and select + Add.
2. Assign the tag to a group.
3. The tag is created and automatically applied to the form. For existing tags, simply select them from the Tags field.

Note: While you can add multiple tags, each tag can only belong to one tag group.

Step 3: Gain Insights from Tag Reports
Leverage tag reports to analyze tagged transactions:

1. Access Settings ⚙️ and navigate to Tags.
2. Select a tag group from the list.
3. Under the Action column, choose “Run report” to generate insights.

By reviewing tag group reports, you’ll gain valuable insights into both income and expenses associated with the tagged transactions, providing a comprehensive view of your financial performance.

Next Steps: Edit Tags and Tag Groups
Refine your tagging strategy as needed:

1. Visit Settings ⚙️ and select Tags.
2. Locate the tag or tag group you wish to edit.
3. Under the Action column, select “Edit tag” or “Edit group” from the dropdown menu.

Empower your financial management with strategic tagging and gain actionable insights into your business operations.