If your company activity is mainly project-based or if you have several points of sale where you carry out your commercial activity, this functionality will be useful to you.
Labels help you to easily view all inflows and outflows associated with a particular project or point of sale. Unlike categories, you can associate the same label with both cash-ins and cash-outs.
In ThinkOut, a label contains three components:
name (for example, if you have an IT firm and work project-based, the label name can be the name of the project you are working on or the name of the client);
type (for example, if you are working on multiple projects for the same client, add the client name in the "Name" field and the project name in the "Type" field; if you work in the hospitality industry and have multiple business locations, add the city in the “Name” field and the neighborhood in the “Type” field);
color (this is chosen randomly - if you want to change it, you can do so from the Settings section, the Labels tab, click on the coloured circle next to the name or click on the Edit button).
You can easily add labels in a few steps either from:
Settings (where you manage your entire tag structure: you can edit tags, change the overall structure and delete old tags)
Transactions (where you can add the label type and label name directly to a newly added transaction as follows -> label type: label name; for example, if you have several development projects in one city, you can create the label London: Development Center 1)
How do I label a transaction?
Go to Transactions;
Choose the transactions you want to label;
Click on the Assign label button from the above the list;
Select the label corresponding to the transactions;
If you got the wrong label, you can change it by clicking the Edit button or remove it by clicking on Remove labels;
How do I label a prediction?
Go to Predictions;
Select the predictions you need to label;
Click on Assign labels from above the list.
How do I see the cash-ins and cash-outs on a single project?
Go to Cash flow;
Click on Show More;
Select the label for the project you are looking for;
You will be shown only the inflows and outflows associated with that label;
Follow the same steps for any other project.
Frequently asked questions
Q: Can I only see the list of transactions assigned to a single label?
A: Yes, go to Transactions, select the label from the filter area and the needed transactions will be displayed.
Q: Can I tag multiple transactions at once?
A: Yes, select the transactions and click on Label transactions.
Q: Can I remove the labels assigned to a transaction?
A: Yes, select the transaction and click Remove labels. You can do this for several transactions simultaneously.
Q: How do I permanently delete a label?
A: Go to Settings, the Labels tab, select the label and click Delete.