How to TAG Asset Purchase AND Part-Exchange

The Old Oracle · ‎January 03, 2022

We have purchased an ASSET (a vehicle) and traded in an older vehicle.

This was paid for with one cheque.

I can SPLIT the entries, but QB will not allow me to TAG both vehicles.

Rubielyn_J · ‎January 08, 2022

I appreciate you for getting back to this thread, @The Old Oracle.

I recognize how relevant tag both Asset Purchase and Part-Exchange to your business is. Currently, this option is unavailable in QuickBooks Online as only one tag per group can be used in a single transaction.

Rest assured our product engineers are continuously working to roll out enhancements based on our customer's requests. That being said, I suggest sending a recommendation to our product developers. They'll review this idea and might consider updating it in the future.

Here's how:

Go to the Gear located at the top.
Under Profile, click Feedback.
Enter your recommendation and select Submit.

You can also utilize this link to check the status and keep you in the loop on our progress of your request: Customer Feedback for QuickBooks Online.

In the meantime, you can enter the new asset as a Bill, with the part-exchanged vehicle as a Credit Note. This way, you can tag both vehicles.

I also encourage you to visit this resource that will guide review your transactions and put them in the correct accounts: Categorise and match transactions.

As always, add a comment below if you have any other questions about managing transactions in QuickBooks. I'm here to help always. Take care!

View solution in original post

GeorgiaC · ‎January 04, 2022

Hi The Old Oracle, thanks for joining us here on the Community - are the tags relating to the same or different groups?

The Old Oracle · ‎January 04, 2022

Hi,

They are the same Group, but of course different vehicles.

GeorgiaC · ‎January 04, 2022

Thanks for getting back to me The Old Oracle, please note only one tag per group can be used on a single transaction, are you attempting to split a single transaction on the banking screen against two tags of the same group?

The Old Oracle · ‎January 04, 2022

I tried entering the NEW ASSET as a Bill, with the part-exchanged Vehicle as a Credit Note, so that I was able to TAG both Vehicles.

When the Bank Entry appeared, for the Purchase (a Net Figure of course) I was unable to "see" both entries to MATCH them. (This was my preferred option)

I had to use this alternative route, which, as you say, will not let me TAG them properly.

The Old Oracle · ‎January 07, 2022

Any suggestions how to resolve this?

Rubielyn_J · ‎January 08, 2022

I appreciate you for getting back to this thread, @The Old Oracle.

I recognize how relevant tag both Asset Purchase and Part-Exchange to your business is. Currently, this option is unavailable in QuickBooks Online as only one tag per group can be used in a single transaction.

Rest assured our product engineers are continuously working to roll out enhancements based on our customer's requests. That being said, I suggest sending a recommendation to our product developers. They'll review this idea and might consider updating it in the future.

Here's how:

Go to the Gear located at the top.
Under Profile, click Feedback.
Enter your recommendation and select Submit.

You can also utilize this link to check the status and keep you in the loop on our progress of your request: Customer Feedback for QuickBooks Online.

In the meantime, you can enter the new asset as a Bill, with the part-exchanged vehicle as a Credit Note. This way, you can tag both vehicles.

I also encourage you to visit this resource that will guide review your transactions and put them in the correct accounts: Categorise and match transactions.

As always, add a comment below if you have any other questions about managing transactions in QuickBooks. I'm here to help always. Take care!

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How to TAG Asset Purchase AND Part-Exchange