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Accounting LabelsPro

Categorize transactions and invoices for tax reporting and accounting.

Overview

Accounting labels help you categorize income and expenses for tax reporting. Create labels that match your accounting categories, then attach them to transactions and invoices. When tax time comes, filter your reports by label to see exactly what you need.

Pro Feature

Accounting labels require a Pro subscription.

Common Label Examples

Create labels that match your tax categories or accounting needs:

Income Labels

  • Professional Services
  • Product Sales
  • Consulting
  • Retainer Fees
  • Reimbursements

Expense Labels

  • Software & Tools
  • Travel
  • Office Supplies
  • Contractor Payments
  • Marketing

Creating Labels

  1. 1
    Open Settings → Invoicing
  2. 2
    Select Labels
  3. 3
    Click the color picker to choose a label color
  4. 4
    Enter a label name (e.g., "Professional Services")
  5. 5
    Click Add

Tip

Use colors that match your accounting software or tax categories. This makes it easier to reconcile records later.

Editing and Deleting Labels

To edit a label, hover over it and click the pencil icon. You can change the name or color. To delete a label, click the X icon.

Note

Deleting a label removes it from all transactions and invoices that use it. The transactions themselves are not deleted.

Using Labels

Labels can be attached to:

Transactions

When creating or editing a transaction, select a label from the dropdown. This categorizes the income or expense for reporting.

Invoices

When creating an invoice, select a label. When the invoice is paid, the resulting income transaction inherits the label.

Recurring Transactions

Set a label on a recurring transaction template. All generated transactions will automatically have the label applied.

Default Invoice Label

Save time by setting a default label for new invoices:

  1. 1
    Open Settings → Invoicing and open the Business profile section
  2. 2
    Find Invoice Defaults
  3. 3
    Select a Default Accounting Label
  4. 4
    Click Save Settings

New invoices will have this label pre-selected. You can still change it for individual invoices.

Filtering Reports by Label

View your financial data by label:

  1. 1
    Go to the Dashboard
  2. 2
    Look for the By Accounting Label breakdown
  3. 3
    Click a label to filter the view

You can also export filtered data from the Reports page for your accountant.

Best Practices

  • Match your tax categories - Use the same labels your accountant uses for easier reconciliation
  • Keep labels consistent - Use "Software" not sometimes "Software" and sometimes "Tools"
  • Set defaults - If most of your work is one category, set it as the default invoice label
  • Use colors meaningfully - Green for income categories, red for expenses, for example

Related

Transactions

Record and categorize income and expenses

Invoices

Create invoices with labels

Reports

Export data filtered by label

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