How to Use Tags and Custom Fields for Better Tracking

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QuickBooks is known for simplifying accounting, but many business owners barely scratch the surface of its tracking capabilities. Two underused features—tags and custom fields—can turn your bookkeeping into a powerful data-analysis system. These tools help you see exactly where money comes from and where it goes, without cluttering your chart of accounts.

Tags are like digital sticky notes for your transactions. You can assign them to invoices, expenses, or payments to categorize by project, client, or location. For example, a marketing agency might tag transactions by campaign (“Spring Ads,” “Website Redesign,” “UGC Shoots”) to compare profitability.

Custom fields take tracking a step further. They let you add unique details to your records, like project manager names, delivery dates, or purchase-order numbers. You can then filter and report based on these fields—giving you insights beyond standard accounting categories.

Why Tags and Custom Fields Matter

• Better insight: Track profitability by job or product line without duplicating accounts.
• Improved reporting: Combine tags and fields for more personalized summaries.
• Faster decisions: Identify which services or clients generate the highest return.

How to Get Started

1. Go to the Settings ⚙️ → Tags section and create tag groups (e.g., “Clients,” “Projects”).
2. Assign tags directly on transactions as you enter them.
3. For custom fields, open the form customization settings and add fields you want to track.
4. Run the “Profit and Loss by Tag” or “Sales by Customer Detail” report to view insights instantly.

Example:
A construction company using tags for each job site discovered one project consistently overran material costs. With that visibility, they adjusted pricing for future bids and improved margins.

Tags and custom fields bring clarity without chaos. Once you get comfortable, they become the bridge between raw accounting data and real-world business decisions.