I am a small business owner and (unfortunately) I have personal and business expenses mixed together in various accounts. I know I can tag some as “Business” and “Personal” using an extra Tags column. My question is: how then do I get the Foundation template reports, such as monthly budget, to only include transactions for certain tags, e.g. just “Business” or just “Personal”?
Here’s an update from my own explorations.
I’ve considered 2 options.
Option 1. Adjust the foundation template formulas to filter by tag, not just date. This might work in principle, but seems risky and unmaintanable.
Option 2. Create separate spreadsheets for Personal and Business, and use IMPORTRANGE and FILTER to get the transactions fed into another “staging” spreadsheet, so that the Transactions sheet in Personal only have personal transactions etc. That way the various reports still work off of Transactions as normal.
I think Option 2 can work. Anyone see any problems or have suggestions?
Option 2 seems feasible and easier to maintain. I use a similar workflow to separate cash transactions from my credit card purchases. I use the importrange and filter functions to pull in transactions specifically for my cash accounts and created a custom report based off of that information. This results in my Foundation Template still having the ability to pull all transactions (credit, cash, etc) for my consolidated monthly reporting… and also allows me to segregate my cash transactions for my own custom reporting.