Let’s look at how you’d use tags in an expense. You can add tags to any transaction that contains a field for them Making the most of the tags in QuickBooks Online Repeat to add as many as you’d like, up to 300 tags. The main tags page will open again, and you’ll see your new group under tags and tag groups.

Click the edit button to make any changes. Click add after each one until your list is complete. Click the down arrow to select a color, then click save.Įnter your tags one by one in the fields labeled tag name. A vertical panel slides out from the right. (You can also click on the transactions link in the toolbar, then click the tags tab.) Click new, then tag group.

Under lists, click tags to get to the tool’s home page. To get started, click the gear icon in the upper right. Individual events might read, for example, Grayson Wedding, Spring Art Show, and Hillman Conference. For example, say you do some event planning. Groups consist of related tags that share a common theme.

Creating your own tagsīefore you create a tag, you need to create a group. But there are two reports specifically designed for them: profit and loss by tag group and transaction list by tag group. They don’t affect your books, and they’re not included in the customization criteria for reports. They’re more flexible than the tools we’ve already mentioned-they allow you to track your money any way you want. They are customizable labels you can assign to transactions (invoices, expenses, and bills). Tags are fairly new to QuickBooks Online. You can also add a location field to sales transactions so you can track sales by stores, sales regions, or counties, for example. These are important for reporting and tax purposes. There’s a different set of categories that you’ll use when you record bills and expenses. You can assign categories to products and services to gain insight into your sales and inventory. Some of the site’s reports are designed specifically for these tools, like sales by class and profit and loss by class. If you’re using QuickBooks Online Plus or Advanced, you can create and assign Classes to transactions to differentiate between, for example, store departments or product lines.

QuickBooks Online offers numerous ways to help you track your sales, expenses, and profitability. Read this if your company uses QuickBooks Online.

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