Example: Using labels to track expenses for tax purposes
You can use labels to keep track of and report on your tax-deductible expenses across categories.
For example, you can add a 'tax-deductible' label to all applicable transactions. Then, when it's time to file your taxes, you can use the Search feature to see the sum-total of your transactions for the tax year with the 'tax-deductible' label applied.
For more information on how to perform a search on your transactions see: Searching your transactions.
Example: Using labels to track individual spending in joint accounts
You can also use labels to keep track of individual expenditure within a joint account.
You may share a credit card with your partner for joint expenses, but sometimes, this may be used by either party for individual expenses, to be repaid at a later date. You can label any personal expenditure with the name of the person responsible for the transaction, and then add a paid label once this has been reimbursed. This means you can easily see whether there are any outstanding transactions that need to be paid back.
