It would be nice to know e.g. that if I spent money on clothes who it actually, was for , me, wife, children so that we can track expenses and budget management by person or domain. MSmoney has this feature and it's great to see how much each individual is complying or not complying with their budget. Right now, it's a bit difficult to do that. This allocation of a family member or tag needs to apply to split transactions too. Eg we go buy clothes , but in 1 CC transaction, I buy clothes for myself , wife and children so I need to split and tag that transaction accordingly so that if I run a report at end of year, I can see spend per person/tag per category.
Provide the concept of family members or tags to do the same
Bumping up to see if this can be considered. Right now, I have to do this by using the notes feature to allocate who spent the money ... but then to report, I need to export to Excel to do the analysis. It would be nice to use a tags feature to allocate to transactions which would meet the same need.
Thanks so much for adding your thoughts. I'll pass your feedback onto our product team to see if we can add the feature to our pipeline :)
Tags would be useful. For example, for tagging work expenses which also fall into another category. Then I could export just work expenses.
What I am doing which is not great/ideal but means I can manage it faster in Excel for reporting is to create multiple categories of the same thing e.g. clothing but then add the family members name behind it e.g clothing-john, clothing-jane. This way I can then use it also in the split transactions which mean reporting can be easier. Tags would really be a game changer
Thanks for the additional comments! We've shared them with our Product team as well :)
Adding my "Me Too" vote for this. It's the one thing stopping me from moving to 22seven completely. Reckon Accounts (the Australian version of Quicken) has this feature and it works beautifully - I couldn't track my income and expenses without it! Reckon also calls this feature "Tags".
An example of usage is for your cars. If you have multiple cars in your home and you want to track expenses seperately for each car without setting up seperate category for each car (which is not how you want to do it because is messes up reporting) then you simply create a Tag for each car. Then you assign the relevant car tag to each car related expense depending on which car you incurred the expense.
So for example, if you want to track your car expenses and you have two cars. When you put petrol into car 1 you would create a transaction with the category "Motor" and the Subcategory "Fuel". Then you would select the "Car1" tag to indicate which car you purchased petrol for. When you put petrol into the other car you still select the category "Motor" and the Subcategory "Fuel", but now you use the "Car2" tag to indicate that the expense is for the second car.
This way you can create reports showing you:
- How much was spent on the Motor category. Shows you how much you're spending on all your cars and, cumulatively, what all those cars are costing you.
- How much was spent on the Fuel sub-category. Shows you how much you're spending on fuel for all your cars.
- And how much was spent on each car Tag. Shows you how much you're spending in total on each car.
Another useful feature for Tags is to track business travel vs personal travel expenses. To do that you create two tags: one for "Personal" travel and one for "Business" travel. So then you could track, for example, how much you spend on toll fees for business trips and for personal trips.
You could also use these Personal and Business tags to track your business and personal dining and eating out expenses, for example. So, every time you eat at a restaurant you can use Tags to track whether they are business expenses (you're dining with a new client...) or personal expenses (you're taking your kids out for pizza).
That makes reporting very powerful. Hopefully 22seven can implement this feature so that we have this powerful control...
Thanks for adding your comments! I'll be sure to share them with the rest of the team.
We're looking at introducing a tagging feature in 22seven in future, but in the meantime you can use 22seven's notes feature in much a similar way. Simply add a keyword to a transaction's note and you'll be able to use that keyword as a search term on the Transaction screen to view transactions with that keyword in their notes :)
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