Hi there, kashif2.

I know a way on how you can generate an event-based report. 

You can setup classes for events. Like Event1, Event2, Event3, and so on. Just a heads up, class tracking is available in QuickBooks Online Plus and Advanced.

Once set up, you can run Profit and loss and filter it to classes to generate an event-based report.

As for the Tags, you might want to consider upgrading your account so you can add tags on your transactions.

I've added this article on how you can upgrade: Upgrade or downgrade your QuickBooks Online subscription.

Don't hesitate to reach out to me again if you still have other concerns. Keep safe!