Phasing out tags on May 16 2025 is a major disruption to the way we've been using QBO for reporting.
Using custom fields (at the time of writing) has following major limitations:
1. Custom fields values cannot be assigned on the bank transaction categorization screen
Impact: In order to assign custom fields to transactions you would have to open them again after categorization. This almost doubles the manual effort.
2. Cannot run PnL report for custom fields the way you can run it for the tag groups.
It goes without saying that removing existing functionality (tags) without offering comparable and workable replacement is extremely bad practice, though I don't think this is a concern for this rollout.
Has anyone found a workable solution (something I could be missing) and also may Intuit does have a timeline for getting functional parity or possibly not hastily removing functionality mid year and postponing this arbitrarily set deadline.
