I must be making such an obvious mistake… under the Banking drop down menu I went to Bank tagging rules, created 38, went back to my dashboard, scrolled down to all accounts, clicked on Current Account, nothing has been tagged. Only old tags and won’t apply the rules. Even the old tags have only tagged the specific transaction I created them for. Help! I promised the accountant I’d hand it in tomorrow… disaster! Geniuses welcome
Make sure the tag description is exactly the same as the bank entries. Make sure you have tagging set to auto and not manual
You will also need to wait a while before tagging works. I believe there is a delay between setting up and functioning.
Really should have done it sooner than a day before it’s due to the accountant imo.
Thanks Paul really appreciate the info. Could you tell me the difference between auto and manual? How do I set and what does it mean?
I believe what Paul is referring to is the auto tagging bit where you can chose to confirm that the tag is correct before it actually tags the transaction:
Automated bank tagging rules may help you
Thanks for the reply Beth, I will read the link and try to make it work
After three days wasted on Quickfile I am losing hope. Why is there no simple link to produce a summary of what I have tagged? Why is there no obvious way to do this? How do I simply produce a sheet that adds up the total of tags, eg ‘rent income’ or ‘motor’? What is the point of tagging? I don’t want some complicated profit and loss, that’s for my accountant, I just want to show the result of all this tagging
There isn’t even a simple button to see the tags I’ve created so I can check everything is in the right category. This really is a pointlessly overcomplicated program
Three days out of my life!!
Tagging a transaction allows you to account for it within your profit and loss and balance sheet reports. Creating a purchase invoice for example would account for it as an expense, and likewise, a sales invoice would be added to your income. That’s the point of tagging. These reports aren’t really complicated and I would encourage you to take a look at them as they’re a vital part of running a business, and not just for your accountant (although it would help them with your year end submissions).
The profit and loss report for example just adds up all the figures for the period of the report. But depending on how you’ve tagged things, there could be other ways to view the results. If you’re creating purchase invoices, then “Show all purchases” would show you everything that’s been created.
To see all items that are tagged or untagged, on your bank statement page, you have 2 tick boxes in the top right - “Tagged” and “Untagged”. If you until “tagged”, you’ll see all items you have left to tag.
I hope this helps, but please don’t hesitate to let us know if we can help further.
Thanks Matthew. The issue I am having is I need to break down WHAT I spent the company’s money on. I was hoping that was what tagging did. If I could simply see on one page or sheet the totals under each tag that would do it. So if I have tagged 10 bank transactions ‘general rates’ and 15 ‘gas’ where is the function that allows me to choose a time period and generate totals, ie ‘Feb 28 2018 to Feb 28 2019 - general rates - £436 total, gas £667 total, etc’?
That would be the profit and loss report. It defaults to financial years but you can set any date range at the top.
Thank you - this is what I need
Your accountant is gonna have a field day with your data at the end of the year.
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