 adding the tag. They're both red because they're going to be applied to that group so I'll say okay so now we've got within here the business and personal, B for business, P for personal. I'm going to try to have every transaction that I make either have business or personal tagged on it now. So let's say we record some income and expenses so if I go back on over here and make an invoice for example and let's just make a new customer new customer customer customer number 10 generic customer number 10. Alright so we're going to tap through this I'm going to say this is in February 020123 and I'm not worried about the locations I'm going to make sure to assign a tag to everything and if it's going to be revenue it's going to be business if I'm invoicing typically because the only personal revenue I might have would be for my like W2 revenue or something like that which I would put on the personal side. So I'm going to say that the product let's say that we just have hours here and we're going to say that it was a thousand dollars the good old thousand dollars and then you could have multiple line items here notice that I can't assign a tag to multiple different line items which is similar kind of to the location tracking and does add kind of a complication to like our model here because I might have some expenses for example that I might need to be allocating out between multiple line items. However oftentimes when you're doing this kind of scenario breaking out business versus personal the stuff that you need to allocate between business and personal is stuff that's going to be more complicated for taxes anyways like your utility bill you might have a home office and you would like to break it out between business and personal. Well for taxes you're still going to have to do a separate schedule typically to kind of break that out so it might not be a big issue but remember the tags are similar to the location tracking in that we were not assigned it line item by line item but we're assigning by transaction so we can we could we can do an hours and I could say let's just keep it with ours a thousand dollars we'll save it and if I go to my balance sheet so now we've got the accounts receivable reflected here now notice I don't on the drop down when I break this out on the drop down I don't always have the tags on the drop down you would think it would be similar to classes and location tracking classes location but you don't often have the tags capacity but if you run the reports from the tags area then then sometimes the reports look a little bit different so that's a little bit weird with the tags if I run the reports on the income statement and I hit the drop down here I've got the location I've got the classes and then I've got these two which I believe are tags that I made in prior presentations I'm going to refresh the screen and now I do see the tags down here for the business and personal on the tags so I can run that if for whatever reason you don't see the tags showing up over here then you might just run the reports from the tags area this is something that's been a little they've kind of I think they're improving it as they run the reports if you run the report from the tags area over here and then run the reports you get a similar profit and loss you know by tag which should match out you can see it's basically the same report now as the income statement now this should tie out to our total for the profit and loss because we put a tag we're going to try to put a tag basically to everything so that it's going to tie out to our total profit and loss so if I go back on over here we've got our our profit and loss by tag and that looks good so let's go back on over and add another one and let's say we put some expenses in place here and we'll hit the plus button and let's say we have some expenses so expenses and let's say this is going to be let's do another vendor vendor three and door three and okay so we're going to pay someone in February and then again the tags are up top so I can't really have signed it to to a line item by line item but I'm going to buy something that's purely for business and so let's say that we're going to say this is going to be supplies business supplies for six hundred dollars and it's going to be going to that tag this is going to decrease the checking account and the other side is going to be an expense and it's going to be applied to the tag of business so I'll say let's save and new if I check that out on the balance sheet there it is on the balance sheet and notice on the balance sheet they just don't give me the tag option at all over here but on the income statement we have that tag option so we'll say it's still business I don't have any personal stuff at the moment so I'm going to go back on over and then let's do a personal one so I'm going to say expenses to vendor three uh this time I'm going to delete the the business and do the personal it's in the same group but now it's just the personal item all right that's all I want get out of there and then this is going to go to utilities let's do utilities this time utilities boom and this is going to be for 300 and so this is going to decrease the checking account the other side going to utilities and to the column of personal for the tags and let's save and close it this time profit and loss running by that tag group and notice what it does here uh it put it into the business tag supplies oh yeah there it is utilities so it breaks it out notice what it doesn't do for you it doesn't give you that total the total column over here which is kind of what we like to see in when I do a profit and loss uh by by class or by location I'd like to see every item broken out business or personal and then the total but we can we can double check it fairly easily by saying okay let me just look at the totals and see if that ties out to my income statement by total here and I can also look at the unclassified the ones that don't have a tag uh and see if I have anything in there so for example if I don't assign something a tag let's try that out I'm going to say plus button and let's say we make an expense and it's going to go to vendor number three and this time I forgot to add a tag and I want to add a tag to each transaction how could I figure that out so I'm going to say let's say this went to this went to what I wanted to go to miscellaneous miscellaneous and I'll make it uh an expense account and other other business expense boom and this is going to be for $170 let's say save and close that and if I go to my profit and loss and and run the profit and loss it's still it's not showing up even in that ungrouped area so notice in order to to see the fact that I didn't categorize something I could say okay let me look at my business and personal and I have I have supplies and utilities but and I could like total this up and see my total and compare that to my profit and loss that has that has uh that's just my totals right here and I would see a difference of the miscellaneous $170