On December 18, 2024, Intuit sent out an important email to QuickBooks users announcing that tags will no longer be supported starting March 8, 2025.
If you’ve relied on tags for organizing and analyzing your financial data in QuickBooks, this change might come as a surprise.
Intuit suggests using custom fields as a replacement, offering new opportunities to tailor your financial tracking.
In this blog post, we’ll dive into:
- What tags are and how they’ve been used in QuickBooks.
- Details about the discontinuation of tags.
- What custom fields are and how they’ll serve as a replacement.
- Actionable steps to prepare for this transition.
What Are Tags in QuickBooks?
Tags in QuickBooks function as organizational labels that allow users to group transactions for easy tracking and reporting.
These tags have been available across all QuickBooks subscription levels and operate similarly to tags in other programs, such as:
- Identifying Categories: Users could assign tags like “Marketing” or “Operations” to transactions.
- Tracking Projects or Classes: Some users relied on tags as a workaround for managing projects or classes when these features weren’t available in their subscription.
- Streamlining Searches: Tags made it easy to filter and locate transactions based on specific labels.
While tags offered a straightforward way to group and analyze data, they are being phased out. Let’s explore custom fields, QuickBooks suggestion as a replacement.
Custom Fields: The Replacement for Tags
Custom fields are set to take the place of tags in QuickBooks.
They allow users to add personalized fields to transactions, providing similar functionality to tags but with added flexibility.
The number of custom fields available depends on your QuickBooks subscription:
- Simple Start: 1 custom field
- Essentials: 4 custom fields
- Plus: 4 custom fields
- Advanced: 12 custom fields
What Can Custom Fields Do?
Custom fields enable you to:
- Track Specific Data: Create fields to track unique identifiers, such as project codes, vendor details, or transaction categories.
- Enhance Reporting: Include custom field data in reports for more tailored insights.
- Adapt to Business Needs: Customize QuickBooks to align with your specific workflows and organizational structure.
While custom fields won’t fully replicate the simplicity of tags, their flexibility can provide different tracking options when used effectively.
How to Prepare for the Transition
If you currently use tags in QuickBooks, it’s essential to plan for them being discontinued. Follow these steps to ensure a smooth transition:
1. Audit Your Current Use of Tags
Take inventory of how you’re currently using tags:
- What transactions have tags assigned?
- Are you using tags as a substitute for classes or projects?
- How critical are tags to your reporting processes?
Document your findings to understand the impact of losing tags on your workflows.
2. Explore Custom Fields
Familiarize yourself with the custom fields feature in QuickBooks. Here are some steps you can take:
- Access Custom Fields: Check your subscription level to see how many custom fields are available.
- Experiment with Setup: Test custom fields by adding them to sample transactions.
- Evaluate Reporting Capabilities: Verify whether custom field data can meet your reporting needs.
3. Consider Alternatives
If custom fields don’t fully address your needs, explore other QuickBooks features, such as:
- Classes: Useful for tracking expenses by department or category.
- Projects: Ideal for managing job-specific income and expenses.
4. Consult with a Professional
If you’re unsure how to adapt to this change, consider seeking professional guidance. You can book a consultation with me to discuss your options, strategize solutions, and implement changes effectively.
Key Details from Intuit’s Email
The email announcing this change was addressed to “valued accounting partners” and included the following points:
- Tags will no longer be supported after March 8, 2025.
- The number of Custom fields is being upped in most plans to use as a replacement.
- Users are encouraged to explore custom fields and other available features to replace tags.
If this change impacts your workflows, it’s important to review the email carefully to understand the timeline and details.
Final Thoughts
Discontinuing tags in QuickBooks may feel like a setback, but custom fields provide an opportunity to optimize and personalize your financial tracking.
By auditing your current tag usage, exploring custom fields, and seeking professional advice if needed, you can adapt to this change with minimal disruption.
March 8, 2025, is just around the corner. Start strategizing now to ensure you’re fully prepared for the transition.
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