Table of Contents
Introduction to Tags
Tags are unique identifiers created by users to identify specific transactions within a period of time, historically, or going forward, based on specific criteria.
Tagging helps users create cash flow categories (AR, AP, Taxes, Payroll, etc.) that can be used throughout Trovata for reporting. It's an extremely valuable tool, and as such, we recommend that users should plan out a cash flow tag structure that makes sense for them before investing a significant time in the tagging process. Oftentimes practitioners will have previously defined these categories outside of Trovata in existing reports & forecasts. These can be used as a guide to creating tags in Trovata.
Tag structures often differ between industries, and can even differ among departments. As a result, unless your company has already predefined categories that they want to replicate in Trovata, we recommend starting with a simple tag structure (i.e. tags are more high level) and expanding out from there (i.e. tags become more detailed/granular).
General Tagging Guidelines
Child Tags: Detail level tags that hone in on specific transactions, sometimes only including one transaction. They serve as a subcomponent to Parent Tags.
Example: Lockbox Child Tag = Lockbox Deposits
Parent Tags: A group of child tag(s). They exist to consolidate similar child tags into a larger/broader cash category.
Example: Inflows Parent Tag = Sum of 3 tags: Lockbox Deposits, AR, and Interest
There is no limit to the amount of Parent-Child tag layers you can create (i.e. Grandparent, Great Grandparent, etc.) but generally it's best to keep it simple with two to three layers.
There is no defined limit to the number of tags you can have in your instance.
Tag names are required and have no character limit. Tag descriptions are not required.
Tag Management
Tag Management in Trovata consists of users creating new tags, editing existing tags to update names or rules, and delete tags that are no longer relevant. These capabilities help maintain clean, flexible classifications and ensure reporting stays accurate as business requirements evolve.
Creating Tags
Child Tags
From within the Tags module, click the blue "New Tag" button.
Use the TQL search bar to create a query that identifies the transactions that you'd like to categorize as a tag.
Once transactions have been identified, press Enter to prompt the search.
Give the tag a name.
Optional: Give the tag a description.
Click the blue "Save" button in the top right corner.
Parent Tags
From within the Tags module, click the blue "New Tag" button.
Use the TQL search bar to create a "Tag is" query. Select the tags you'd like include in the Parent tag.
Once tags have been added, press Enter to prompt the search.
Give the tag a name.
Optional: Give the tag a description.
Click the blue "Save" button in the top right corner.
Editing Tags
From within the Tags module, scan the list (or use the search) to find and click the tag you want to edit.
Once the tag is selected, click the Pencil icon in the top right corner of the screen.
From here, users can adjust the tag name, description, or query rules.
Once any changes have been made, press Enter to prompt the search.
Click the blue "Save" button in the top right corner.
Included/Excluded Tags
Included Tab: Includes transactions that have been added to a tag manually. To add a transaction to a tab manually, users should follow the steps below.
Wherever a list of transactions is present in Trovata, users can expand the tag to see the corresponding metadata. Below the metadata, there is a "Tags" section that displays all tags associated with a transaction.
Example: In the screenshot above, see the ">10k Wires" tag.
Hover over the Tags line and click the grey bar to open the "Add Tag" menu.
Select the tag you want to manually apply to a transaction.
After a few seconds, the screen will reload and the tag will be applied to the transaction.
Excluded Tab: A list of all transactions that have been manually excluded from a tag. To remove a tag from a transaction, users should follow the steps below.
Wherever a list of transactions is present in Trovata, users can expand the tag to see the corresponding metadata. Below the metadata, there is a "Tags" section that displays all tags associated with a transaction.
Example: In the screenshot above, see the ">100k Wires" tag.
Hover over the Tags line and click the dropdown icon on the Tag you'd like to remove from the transaction.
Click "Remove", the click "Remove" again to confirm your selection.
After a few seconds, the screen will reload and the tag will be removed from the transaction.
Deleting Tags
From within the Tags module, scan the list (or use the search) to find and click the tag you want to delete.
Once the tag is selected, click the 3 dots icon in the top right corner of the screen.
From here, click the red "Delete" button.
Dependent Objects: Users can see which tags are dependent on the tag that you're deleting.
The tag will be permanently deleted.
201: Tagging Best Practices
1 — Tag Hierarchy
Tags are built in a hierarchical structure, made of Child Tags, Parent Tags, Grandparent Tags, etc. Child Tags organize transaction data into the most granular level of detail, and can be made up of multiple strings of data. Parent Tags are created to consolidate Child Tags into a larger cash category. In other words, they are simply a group, or subtotal, of Child Tags. See the example hierarchy below.
NOTE: The circular number represents the number of tags nested within that tag.
2 — Tag Naming and Formatting Conventions
When it comes to naming tags, users should ensure that the tag's content and nature are easily identifiable.
Parent Tags that are a sum of one or more Child Tags should indicate that they are a total. In the example above, the Parent Tag (AR - Total) consists of two Child Tags (AR - Other and AR - Top 5 Customers).
Users can also indicate a total using special characters, such as using a " * " or " $ " in front of the tag name. This also makes it easier to find these tags when utilizing the Analysis, Reporting, Reconciliation, and Forecasting modules.
Using dashes (-) is a way to help keep tag names organized, concise, and consistent across the board.
Tags appear on the left-hand side bar in alpha-numeric order, with special characters (i.e. * and $) taking priority.
3 — Creating “Other” Buckets (I.e. Top 5 AR and AR - Other)
Users can capture multiple slices of data (i.e. high value customers and/or vendors) within one tag by leveraging OR statements, instead of being forced to tag all unique transactions separately.
To save time on tagging these large buckets of transactions, we recommend first tagging your top X number customers/vendors and then make an “Other” bucket for the rest of your AR/AP.
Example: The AR - Other tag would filter for any account(s) that contain AR transactions and would exclude the Top 5 Customers tag using the [Tag / IS NOT / "Tag Name"] property/operator/value combination. It would also exclude any other tags that include transactions that flow into those accounts that aren't classified as AR (i.e. Book Transfers, Intercompany, ZBAs, etc.). In this way, instead of tagging every AR transaction, you can work backwards to capture an AR - Other total.
4 — Untagged Transaction Process Flow / Audit of Untagged Transactions
Using the “Untagged” column section in the Transactions module is the most efficient way to keep track of the transactions that haven’t yet been categorized. Note that tags can be created in this column section which will update the untagged transaction count accordingly after saving.
5 — Zero Balance, Sweeps, Intercompany, Transfers, and Funding Tags
All ZBA, Sweeps, Intercompany, Transfers, and Funding transactions should be tagged and in most cases excluded from other tags to ensure they aren’t impacting the true totals of other tags (i.e AR/AP). Keep in mind that all institutions will provide different description details which can impact the tagging logic when creating these types of tags.
Zero Balance Account (ZBA) Tags: Typically identified by typing "ZBA", "Zero Bal", or "Zero Balance" in the search bar.
Sweep Tags: Typically identified by typing "Sweep" in the search bar.
Intercompany (IC) Tags: Typically identified by typing "Intercompany", "Pooling", or "Offset" in the search bar.
Transfer Tags: Typically identified by typing "Transfer" in the search bar.
Funding Tags: Typically identified by typing "Funding" in the search bar.
Tag Structure Example
Generally speaking, there is no one-size-fits-all approach to structuring tags, since every company has a unique way of identifying their cash flow activity. Depending on your company's reporting structure, you can use this template as a guide when building out your Tags.
Inflows
Outflows
ZBAs/Sweeps
Intercompany
Inflows
Outflows
ZBAs/Sweeps
Intercompany
Tag Index (By Bank)
Find metadata search suggestions for common tag categories!
JP Morgan (Domestic & International)
Bank of America (Domestic & International)
Wells Fargo (Domestic & International)
Citi (Domestic & International)
HSBC (Domestic & International)
Silicon Valley Bank (Domestic & International)
PNC (Domestic)
Export Tags List (Tag Audit)
Export a comprehensive list of your tag criteria to visualize your tag structure from a birds eye view.
Go to the Tags Page.
Click the download icon above your tag list.
Select the columns for your CSV and click Download.
The CSV will download to your browser and open in your default spreadsheet viewer.