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Simplify payday and set payroll to run automatically on QuickBooks.Explore QuickBooks Payroll

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Anonymous
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Please  – Please! – add the ability to TAG transaction SPLITS. I'm evaluating QBO, and planned to switch exactly because I needed the TAG feature, only to find that it's severely crippled in this way.

 

Any typical accounting package (and QB is no exception) is oriented towards tax accounting, and much less towards business finance. Do we keep a separate set of books, organized to show more useful information about the business? Too hard. And frustrating, since the data is already right here, mostly.

 

Tags promise to enable the ability to flexibly report on (mostly) income and expenses, right within the primary set of books – but without affecting those books.

 

The smallest units of either type of reporting - built-in tax-oriented, or flexible tag-based - is the single SPLIT entry tying back to an account in the formal chart-of-accounts. NOT a transaction.

 

Transactions seem an odd thing to base tags on, as they're more about the interaction with other entities (vendors, payees) than they are about the company. They're often groupings for convenience. Sometimes smaller orders - raw materials for several product lines, for instance - are grouped to reach more favorable vendor pricing thresholds.

 

Just like built-in reporting reports on transaction SPLITS, so will TAGs be useful only if they can do the same.

 

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