This topic provides detailed information about the categories and tags that you can associate with your transactions.
It is important for you to associate categories with your financial transactions. This is because categorized transactions drive key features such as reports, graphs, tax reporting, and budgets.
Tags add another layer of classification to help you manage your transactions and view reports. Although optional, they are useful in many situations. Learn more about categories, tags and the differences between them.
Categories
Customize categories to fit your needs
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Once the new category is created, you can associate it with your transactions. If the category is for a tax-related income or expense, you can optionally assign tax line items to categories, which will then be used to populate the Tax Summary report.
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You have the following options to create new subcategories:
- When entering a new transaction: In the Category field, enter the name of the top-level category followed by a colon : and the name of the new subcategory. The new subcategory is created within the top-level category when you save the transaction. For example, Entertainment:Concerts, where Entertainment is the category and Concerts is the subcategory.
- In the Category field, click Edit Categories.... In the Categories window, select New Subcategory. Provide the required information and click Save.
- In Quicken, choose Window > Categories and create a new subcategory as described in the above option.
Once the new subcategory is created, you can associate it with your transactions. If the subcategory is for a tax-related income or expense, you can optionally assign tax line items to categories, which will then be used to populate the Tax Summary report.
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You have the following options to create new tags:
- When entering a new transaction: In the Tag field, enter the name of the new tag. The tag is automatically created when you save the transaction.
- In the Tags field, click Edit Tags.... In the Tags window, select New Tag. Provide the required information and click Save.
- In Quicken, choose Window > Tags and create a new tag as described in the above option.
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