Using Tags in the Categories sheet

Why use tags with categories?

Using tags at the Category offer another level of data organization. You can quickly apply the same tag to any transaction based on the category assigned. You can also take advantage of a few of the reporting features and templates offered in the Tiller add-on when you use the Tag column in your Categories sheet.

How to add the Tags column to the Categories sheet

  1. Open the Categories sheet
  2. Right click the “Type” column and choose “Insert 1 right”
  3. Select the entire column by the column letter
  4. Open the Data menu at the top of the Google Sheet and choose “Data Validation”
  5. Click “remove validation” - this will remove the unnecessary dropdown menu.

How to Use the Tags column in your Tiller-powered Google Sheets

Learn how to use the Tags column in the Categories sheet to better organize your financial data.

  1. Use your own unique Tags.
  2. Apply multiple tags to the same category when separate by a comma, but without a space (e.g. “Travel,Business”)
  3. Use “Business” to have the Tax Estimator pick up transactions with categories that have this tag.
  4. Use “Tax” to have the Category Rollup pick up transactions for reporting on itemized deductions.

Tag Your Business Expense Categories

Use the “Business” tag for categories that correspond to business expenses and business income. Any transactions that are assigned to these categories will be pulled into the Quarterly Tax Estimator sheet and are used to calculate your net profit.

You should consult with your tax advisor or accountant about which business expenses should be included for reducing your net profit (i.e. tagged as business) that you’re required to pay tax on, but here are some basic guidelines.

  1. Business meals are not always counted at 100%. If you tag a business meals and entertainment related category as “Business” be sure to use the manual adjustment area to reflect the actual amount that can be used from this category to reduce your taxable income.
  2. If you have personal transactions in the same sheet, make sure you’re only applying the “Business” tag to business related expense categories. You may need a separate category to better organize business and personal transactions or use the manual adjustment areas to provide accurate expense data for those categories.

Tag Your Tax Deductible Categories

You can tag a category as “Tax,” and it will be available for itemized tax deduction reporting using the Category Rollup report available in the Tiller add-on.

The Category Rollup report gives you the option to show only transaction details for categories tagged as “Tax” as well as other report configuration options.

You should consult with your tax advisor or accountant about which types of expenses can be itemized before applying the “Tax” tag to your categories. In general if you take the standard deduction, you don’t need to itemize.

If you are going to itemize deductions, and you’re use the quarterly tax estimator sheet, categories that are tagged as “Business” should not also be tagged as “Tax” as this would be double counting the tax reduction benefit.

Does tag auto fill like the type (Expense, Income & Transfer) do in transactions sheet or we have to manually add the tag. I cannot get it to work despite adding tag to my categories sheet.

Thanks

I was confused about this as well. But finally figured out that you have to also do the Tiller Labs add-on to get the Tags in the Transactions Sheet, which will also give you a new Tags Analysis Sheet. See this link for instructions - Add the Tags Report for Transaction Tagging .

I’d also like to note that there are two separate “Tags” paradigms. One is tagging transactions, the link you provided is the latest on this. The second is tagging Categories, which is the specific workflow documented in this topic. They’re two slightly different workflows. @adekunledauda - let me know if you still need help with this. Sorry for the long delay in replying…

@adekunledauda

Did you get your tags working?

Blake

@Blake @heather Using the Foundation Template workbook, I believe I have correctly followed the above workflow adding a Tags column to the Categories sheet, as well as adding the Tags Report Sheet that added the Tags column to the Transactions sheet.
I’ve added various tags in the Tag column on the Categories sheet.
I’ve then selected those Categories that have Tags for transactions in the Transactions sheet, yet the corresponding Tags (populated on the Categories Sheet) do not appear in the Tags column in the Transactions Sheet.
What am I missing with having the Tags on the Categories Sheet applied to transactions on the Transactions Sheet?
Thanks so much…

Hi @rianandcourtney,
Using tags on the Transactions sheet is different than using them on the Categories sheet.
They work differently and are not related.

See here for how the Tags work with the Tags Report Sheet and the Transactions sheet:

Hopefully, this will help it make more sense.

Jon

@rianandcourtney

What you have here are two totally different tools that often are referred to using the same “Tags” name.

Below is the best short concise explanation by Tiller that I could quickly find.

I don’t recommend using the Tags column in the Categories sheet for generating a list of tags if you want to be able to tag individual transactions. The Tags column in Categories is very specific to applying the same tag to ALL transactions that are using that specific Category and is for use with the Category Rollup and Estimated Tax templates available via the Tiller (non-Feeds) add-on .

The Category sheet Tags tool is basically used to make the Category Rollup and Estimated Tax templates work. Here, the tag brings in all transactions based on the category associated with the transaction. All the work is done on the Categories sheet, you never even go to the Transactions sheet.

The Transactions sheet Tags tool basically allows you to tag 50 different transactions on the Transactions sheet and have them all show together in a list on the Tags sheet. This is the Tags tool that I think you are interested in. This tool offers tons of flexibility while the other one is more narrow and focused.

I am currently using the Transactions sheet Tags tool to filter my medical costs that I need to run through my FSA and HRA.

I hope this helps,

Thanks,

Blake