Track money

Labels

Labels group transactions and assets by trip, project, or event — without changing any of the math.

Last updated 2026-07-07

Use labels as optional tags for projects, trips, events, family expenses, or anything else that cuts across categories. They attach to transactions and to assets, up to 20 per record, and you manage them from Settings under Labels.

Labels are purely organizational. They never change a transaction's category, its amount, whether it counts toward budgets, what the forecast predicts, or how anything is classified financially. A labelled expense is counted exactly like an unlabelled one — the label just lets you find it and filter by it.

Before you start

  • Think about the question you want answered — "what did the Italy trip cost?", "what has the renovation added up to?" A label per question works best.
  • Check it isn't really a category you need. Categories are the rows of your year grid and drive spending targets; labels are an extra lens on top of them.

How to use it

  1. Open Settings, choose Manage labels, and create a label with a name you'll recognize.
  2. Attach it to transactions while adding or editing them, or in bulk during a CSV import review.
  3. Attach it to assets too, if the grouping spans both — a renovation label can cover the contractor invoices and the tools you bought.
  4. Filter the Transactions page or Reports by one or more labels. With several labels selected you choose whether a record needs any of them or all of them to match.
  5. When a project ends, archive the label to get it out of pickers while keeping the history. Restore it if the project comes back. A label that was never used can be deleted outright.

What affects this page

  • Only your own labelling: which labels exist, and which transactions and assets carry them.
  • Archiving — an archived label stops appearing in pickers but stays attached to its history.

What does not affect this page

And, more importantly, what labels never affect:

  • Categories, amounts, and transaction types — labelling changes none of them.
  • Budget inclusion — a label can't exclude an expense from budgets (that's the exclude-from-budget switch on the transaction).
  • Forecast and report totals — label filters narrow which records are shown, but every shown record is counted by the same rules.

Common mistakes

  • Using labels where a category is the right tool. If you want budgets or spending breakdowns for it, it's a category.
  • Expecting a label to exclude something from a budget or report. Labels never change how amounts are counted.
  • Creating near-duplicates ("Trip", "trip 2026", "Vacation") and losing track. Fewer, clearly named labels stay useful longer.
  • Deleting a label to tidy up when archiving is what you want — archive keeps the history connected.

FAQ

How many labels can one transaction or asset have?
Up to 20 active labels each.
Do labels change my report totals?
No. Filtering by label restricts which transactions a report includes, but every included transaction is counted by the same rules as always.
Can I label assets as well as transactions?
Yes. Assets use the same labels and the assets list can filter by them. Labels are attached to each asset yourself — they're not copied over from transactions.
Why can't I delete a label?
Only labels that have never been used can be deleted. A label with history can be archived instead, which hides it from pickers while keeping past records intact.

Where this lives in the app

Related articles

  • Transactions

    Every money movement in TallyFolio is a transaction. Learn the types, the statuses, and how to keep them categorized.

  • Reports

    Historical, read-only analysis of spending and merchants over any period you choose.

  • Assets

    Keep a register of things you own outside regular accounts — cash on hand, metals, crypto, property, or money owed to you.