diff --git a/hledger/hledger.m4.md b/hledger/hledger.m4.md
index 536910b56..bea4b1a48 100644
--- a/hledger/hledger.m4.md
+++ b/hledger/hledger.m4.md
@@ -1629,23 +1629,29 @@ There's not much harm in using them yourself, but some could produce an error me
 They are explained elsewhere, but here is a quick list for reference:
 
 <!-- keep synced with JournalChecks.hs -->
+Tags you can set to influence hledger's behaviour:
 ```
-  date                   -- overrides a posting's date
-  date2                  -- overrides a posting's secondary date
-  type                   -- declares an account's type
-  t                      -- appears on postings generated by timedot letters
-  assert                 -- appears on txns generated by close --assert
-  retain                 -- appears on txns generated by close --retain
-  start                  -- appears on txns generated by close --migrate/--close/--open/--assign
-  generated-transaction  -- with --verbose-tags, appears on generated periodic txns
-  generated-posting      -- with --verbose-tags, appears on generated auto postings
-  modified               -- with --verbose-tags, appears on txns which have had auto postings added
-
-  Hidden tags used internally (and queryable):
-  _generated-transaction -- always exists on generated periodic txns
-  _generated-posting     -- always exists on generated auto postings
-  _modified              -- always exists on txns which have had auto postings added
-  _conversion-matched    -- exists on postings which have been matched with a nearby @/@@ cost notation
+ date                   -- overrides a posting's date
+ date2                  -- overrides a posting's secondary date
+ type                   -- declares an account's type
+```
+Tags hledger adds to indicate generated data:
+```
+ t                      -- appears on postings generated by timedot letters
+ assert                 -- appears on txns generated by close --assert
+ retain                 -- appears on txns generated by close --retain
+ start                  -- appears on txns generated by close --migrate/--close/--open/--assign
+ generated-transaction  -- appears on generated periodic txns (with --verbose-tags)
+ generated-posting      -- appears on generated auto postings (with --verbose-tags)
+ modified               -- appears on txns which have had auto postings added (with --verbose-tags)
+Not displayed, but queryable:
+ _generated-transaction -- exists on generated periodic txns (always)
+ _generated-posting     -- exists on generated auto postings (always)
+ _modified              -- exists on txns which have had auto postings added (always)
+```
+Tags hledger uses internally:
+```
+ _conversion-matched    -- exists on postings which have been matched with a nearby @/@@ cost annotation
 ```
 
 ### Tag values