Guide 182 · Conversions · GA4 + Tag Manager
Conversion against key event in GA4: the same action, two names, and which report holds each
Google renamed GA4 conversions to key events so that the word conversion means the same thing in GA4 and Google Ads. The action is measured once, as a key event, and only becomes a conversion when it is shared with Google Ads. This guide traces generate_lead through the two stages, shows which report holds each number, and works out the gap between them.
After the steps, the generate_lead key event appears under the Key events tab in Admin, and the standard reports show it within a day. The worked example below gives the count and the rate to expect.
Download the reference: the generate_lead key-event reference (JSON) (732 bytes, MD5 da414f938c293d8d5d8f6ad17860e652). It holds the event name, the counting method, the worked-example figures recomputed for this guide, and the checkpoints that prove the key event is recording. The figures in the file are the same figures shown on this page.
What you need
- Editor access or above at property level in GA4. Marking an event as a key event is a property setting, and the star in the Events table does not appear for a Viewer.
- A key event already marked, so there is something to turn into a conversion. In this guide the event is generate_lead.
- A linked Google Ads account. Creating a conversion from a key event needs the link, and the count below is the conversion count that the link makes possible.
The trace
- Mark the event as a key event first. Open Admin, then Data display, then Events, and click the star on the generate_lead row. Until this step runs, there is no key event, and there is nothing to turn into a conversion.
- Read the key event in the standard reports. Open Reports, then Acquisition, then Traffic acquisition. In the worked example the week shows 104 generate_lead key events. These are the GA4 numbers, counted on the day the events happened.
- Create the conversion from the key event. Open Advertising, then Tools, then Conversion management, then New conversion, and pick generate_lead. A linked Google Ads account is required for this step, and the conversion is also created in Google Analytics and shared between the two platforms.
- Read the conversion in Advertising. Open Advertising, then Conversion performance. In the worked example the same week shows 96 conversions from generate_lead. The gap is 104 − 96 = 8, which is 8 / 104 = 7.69% of the key event count.
- Know why the two numbers differ. Google states the difference directly: conversions are designed for a cross-channel advertising view, powered by a unified data platform, while key events are designed for traffic acquisition, user behaviour, and site journeys, powered by GA4. Conversions are event-scoped and can use data-driven attribution on the ad touchpoints, while key events are counted on the day they happen.
- Use each number where it belongs. Campaign performance and attribution questions go to the Conversion performance report. Traffic acquisition and site-journey questions go to the standard reports. The worked example keeps both: 104 key events for the site question, 96 conversions for the ad question.
Dead ends
DEAD END — CALLING A KEY EVENT A CONVERSION IN A REPORT. A key event that was never shared with Google Ads is not a conversion, and no report will show it as one. The conversion only exists after the Conversion management step.
DEAD END — EXPECTING THE TWO COUNTS TO MATCH. They are counted and dated differently, and a gap of a few percent is normal. A gap that suddenly doubles is worth checking; a steady gap of 7.69% is the counting difference, not a break.
DEAD END — LOOKING FOR CONVERSIONS IN STANDARD REPORTS. Google states that Google Ads conversions do not appear in standard reports or in Explore. If the conversion count is missing from the Events report, that is the design, not a fault.
End state
The generate_lead event is a key event of 104 in the standard reports and a conversion of 96 in Advertising for the same week. The gap of 8 is the counting and dating difference Google documents.
| Figure | Value |
|---|---|
| generate_lead key events, standard reports | 104 |
| generate_lead conversions, Advertising | 96 |
| Gap between the two counts | 8 |
| Gap as a share of key events | 7.69% |
| Sessions in the week | 2,500 |
| Session key event rate | 7.48% |
The gap is 104 − 96 = 8, which is 8 / 104 = 7.69% of the key event count, and the session key event rate is 187 / 2,500 = 7.48%, all recomputed in Python 3 and rounded to two places. The figures are a worked example, not a real property.
Sources
- Analytics Help — Conversions vs. key events in Google Analytics — what a key event is, the event to key event to conversion flow, and where Google Ads conversions appear
- Analytics Help — About key events — marking an event as a key event, the 30-event limit for a standard property, and 50 for Analytics 360
Checked 11 November 2026. The click paths above are the ones in Google's help pages, read 11 November 2026. The page opened in full states the event, then key event, then conversion flow, that a linked Google Ads account is required, and that Google Ads conversions do not appear in standard reports or in Explore. No step in this guide was run inside a live Analytics property or a live Google Ads account, because both need a Google sign-in and this site does not sign in as anyone. The figures on this page are a worked example recomputed in Python 3 with decimal arithmetic, not numbers from a real property. Google moves menu items without warning; if a path on this page no longer matches, the linked help page is the current map.