How to Use Tags and Group Tags in QuickBooks Online?

Tagging is considered one of the newest and best Features in QuickBooks Online. It is quite possible that users of […]

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Tagging is considered one of the newest and best Features in QuickBooks Online. It is quite possible that users of QuickBooks have witnessed it by now.

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Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Online. Utilize import, export, and delete services of Dancing Numbers software.

In today’s article, We will talk about what are tags, and will guide you on how to use them and highlight some of the best practices in making a smart tagging system to provide you and your selective clients significant and game-changing business insights.

What are Tags?

Tagging is a type of labeling process that is available in modern software either in photo libraries or Gmail. Tags allocate keywords to assist users rapidly looking for transactions and documents. Since tagging is now present in your accounting software, It benefits a lot of QuickBooks Online users.

Tags are an easy way to monitor and comprehend Cash Flow, Enabling business owners, bookkeepers, and accountants to look for and report on regular data activity they care about.

Tags enable users to learn insights about how their business is performing minus the need to subscribe to more complicated Versions of QuickBooks Online. Tags are obtainable in Essentials, Advanced, and Plus.

In other ways, Tags work similarly to Locations, Classes, and Custom Fields but they have their particular purpose. Tagging is best for monitoring front-of-house business actions like fundraising events, advertising campaigns, and employee actions.

When Tags Should be Used?

Tags function best on the information list available. Sample scenarios comprise knowing the campaigns that are creating orders, or which employee completed order, or which driver and vehicle were on a particular job and how the package was sent.

Tags are useful for such situations since you have the particular list of campaigns, vehicles, shipping methods, drivers, and vehicles to select from.

A few extra ways for effective Tag use comprise tracking:

  • Internal Projects
  • Events
  • Trips
  • Fundraising Campaigns
  • Referral Sources
  • Ship Via
  • Property/unit #
  • Shows and Productions
  • Conferences
  • Church Missions
  • Sales Reps
  • Sales Channels
  • Work done by:

How to Implement Tags?

Tags are available in expense and income fields, enabling profitability reports to several segments. The present list of forms with tags comprises:

  • Money in- Invoices, deposits, credit card credits, estimates, sales receipts, credit memos, and delayed charges.
  • Money out- Expenses, bills, refund receipts, Purchase Orders, checks, credit card payments, delayed credits, vendor credits, and bill payments.

Journal entries and transfers will be provided overtime. Tags can also be applied through the rules and banking feed. As per this publication, tags are allocated to complete transactions.

Tags are labels that can be customized that allow you to monitor transactions regardless of how you may want. It is possible to tag invoices, bills, and expenses. Group tags together and then run reports to check how particular areas of business are performing. They do not affect your books. Rather, they are a way for your particular team to monitor the information that is valuable to you.

How to Use Tags and Group Tags in QuickBooks Online?

Here are the steps to use tags and group tags in QuickBooks Online:

Step 1: Prepare Tag Groups

Begin by preparing groups to put tags into:

  • Navigate to Settings and choose Tags.
  • Choose the New dropdown and then click Tag group.
  • Provide the group with a name.
  • Choose a color from the particular dropdown.
  • When it is complete, Press Save.

Step 2: Make New Tags and Tag Transactions

You can make tags when you are working on a form like expense or invoice:

  • In the particular Tags field, Add the name of the particular tag that you wish to create. Now choose + Add.
  • Choose one of the groups to add the particular tag to it.

It creates the tag and then tags the form. In order to add the existing tags to forms, Just add the name in the particular Tag field and choose it.

Note: It is possible to add several tags as you wish, however, you can only choose one tag for every tag group.

Step 3: Acquire Insights from Tags

Run the reports for tag groups to check how tagged transactions are doing:

  • Navigate to Bookkeeping. Now choose Tags.
  • Locate a group on the list.
  • In the Action column, Choose Run Report.

Now, since the groups have both money out and money in transactions, you will witness everything in the group that impacts the bottom line.

Step 4: Edit Tags and Tag Groups

  • Navigate to Settings. Now choose Tags.
  • Locate the tag or the particular tag group you wish to Edit.
  • In the Action column, Choose the Run Report dropdown. Now choose Edit tag. You can also select Edit Group.

We hope that in this article you have completely learned how to use tags and group tags in QuickBooks Online. We have explained in detail what tags are, how to create tags, and how to use tags in QuickBooks Online. All you need to do is follow the steps provided above in the given sequence.

Still, It is possible that some of you may experience problem concerning tags and group tagging in QuickBooks Online. You can connect with Dancing Numbers team via LIVE CHAT.

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+1-800-596-0806 or chat with experts.


Frequently Asked Questions

Why Not to Use Locations, Classes, or Custom Fields?

This is because tags are present in all QuickBooks Online versions. They create additional subscription options. In case you require custom fields or classes, however, no Advanced or Plus features, using Tags can be a less expensive solution for several businesses.

One of the primary differences between classes/tagging and locations is that tags can be located as required, regardless if other options are required to be used consistently on all transaction to issue precise reports. Custom fields are created for unique data like PO, while tags function best for data you gathered from a list.

In case you are using any of the characteristics, tags offer yet a different dimension of labeling in your particular file.

What Benefits Tags have over Locations, Classes, and Custom Fields?

Tags have multiple benefits over Locations, Custom Fields, and Classes:

• Tags are planned for reuse in order to group transactions for the reports.
• By preparing many tag groups, it is possible to determine transactions on several dimensions.
• Tags can be used only when required, rather than accessing them in every transaction
• Tags can be assigned to one transaction several times rather than just one
• Tags can be looked for in Transaction by Tag screen, located while drilling via the Tags center below the gear.
• All QuickBooks Online versions comprise around 300 grouped tags, along with several flat tags.

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Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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