Published on May 26, 2016 1:58 pm, by Jen Bakker
Tax time can be daunting. Another year of scraping through papers and scrawling through accounts trying to make sure that every little thing is included on your tax return. The things you did back in July last year all of a sudden might be important to you.
We can help!
I love to use MoneyBrilliant for this. It is as simple as tagging your transactions with the word tax.
From this day forward, as you categorise, you can tag at the same time. To tag transactions retrospectively you will need to find them. Select the transaction you want and then add a tag.
Add the tag by opening out the transaction and typing in your tag. The first time you use the word tax nothing will be suggested, from that point in, you will be able to select the word.
You can also add a tag when you are in the categorisation screen on the left-hand bottom corner.
At the end of the tax year, you go to reports, customise your dates to the financial year and search for tax. The transactions will all be listed in their categories.
Its as simple as that. So if you have some time, and want to get a head start, go through some of your likely categories and do some tagging. You could start with categories like Gift and Donations or Interest payments. The future you will thank you!
Tagging is a Plus Plan feature.
Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.