You tag records in browse boxes by single clicking your mouse on the first column. When a record is tagged, a small check mark appears in this first column of the record. To untag a record, simply click on this column again.
A tag indicates that the record is selected for some batch operation. For example, when printing customer invoices or A/P checks, you have the option to print all tagged records with one keystroke.
Pressing <Ctrl + Spacebar> also tags/untags a record.