Quickbooks online are replacing tags with custom fields. Currently there is a report "Profit and Loss by tag group". NO such report by custom fields. Suggestions?

Yes, you're right, Karen. QuickBooks Online has transitioned from tags to custom fields to enhance organization and reporting. I'll share detailed information about this change and what reports you can generate.
 

Beginning May 16, 2025, creating tags for reporting will no longer be available. In this case, you can migrate them to a custom field for tracking and reporting purposes.
 

Here are the steps you can follow these steps:
 

1. Head to the Gear icon and select Tags. 
2. On the tags page, click Migrate tags to custom fields.
3. Up to 100 tags will be auto-imported, and all transaction forms will be pre-selected. Review the selections and make any necessary changes. Afterward, hit Save. 
    

After completing the migration, the custom fields will appear on the selected transaction forms. However, this update will not overwrite the tags on your historical records. 

While there's no Profit and Loss by Custom Field, there are reports that support custom fields. See the attached screenshot for visual reference. 



For additional information on the various reports you can generate, check out this article: Migrate tags to custom fields in QuickBooks Online.
 

Additionally, I acknowledge that having a Profit and Loss report that includes custom fields would greatly benefit your business. That said, I recommend sharing this idea with our product engineers. They will review your suggestion and may consider it for future implementation.
 

Here's how you can do it:
 

1. Go to the Gear icon and select Feedback. 
2. Enter your ideas with the custom field report in the box provided.
3. Once done, submit it.
    

Moreover, here are some resources you can browse to learn more about how to manage your sales and expense transactions:
 

• Add custom fields to sales forms and purchase orders
• Enter and manage expenses
   

I appreciate your attention to these updates, Karen. By migrating your tags to custom fields, you will gain enhanced precision in categorizing your business data. If you have further questions about the migration process or generating reports, we're still here to help.