diff --git a/.env.example b/.env.example
index e2e0b18720..358fec2d52 100644
--- a/.env.example
+++ b/.env.example
@@ -325,6 +325,12 @@ USE_RUNNING_BALANCE=false
 #
 FIREFLY_III_LAYOUT=v1
 
+#
+# Which Query Parser implementation to use for the Search Engine and Rules
+# 'new' is experimental, 'legacy' is the classic one
+#
+QUERY_PARSER_IMPLEMENTATION=legacy
+
 #
 # Please make sure this URL matches the external URL of your Firefly III installation.
 # It is used to validate specific requests and to generate URLs in emails.
diff --git a/app/Http/Controllers/Rule/CreateController.php b/app/Http/Controllers/Rule/CreateController.php
index 9729dfe015..ab2e59b46c 100644
--- a/app/Http/Controllers/Rule/CreateController.php
+++ b/app/Http/Controllers/Rule/CreateController.php
@@ -89,16 +89,28 @@ class CreateController extends Controller
         // build triggers from query, if present.
         $query        = (string) $request->get('from_query');
         if ('' !== $query) {
-            $search      = app(SearchInterface::class);
+            $search         = app(SearchInterface::class);
             $search->parseQuery($query);
-            $words       = $search->getWordsAsString();
-            $operators   = $search->getOperators()->toArray();
-            if ('' !== $words) {
-                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => $words]));
-                $operators[] = [
-                    'type'  => 'description_contains',
-                    'value' => $words,
-                ];
+            $words          = $search->getWords();
+            $excludedWords  = $search->getExcludedWords();
+            $operators      = $search->getOperators()->toArray();
+            if (count($words) > 0) {
+                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => implode('', $words)]));
+                foreach($words as $word) {
+                    $operators[] = [
+                        'type'  => 'description_contains',
+                        'value' => $word,
+                    ];
+                }
+            }
+            if (count($excludedWords) > 0) {
+                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => implode('', $excludedWords)]));
+                foreach($excludedWords as $excludedWord) {
+                    $operators[] = [
+                        'type'  => '-description_contains',
+                        'value' => $excludedWord,
+                    ];
+                }
             }
             $oldTriggers = $this->parseFromOperators($operators);
         }
diff --git a/app/Http/Controllers/Rule/EditController.php b/app/Http/Controllers/Rule/EditController.php
index a00df8ef4c..4c4e04b6fc 100644
--- a/app/Http/Controllers/Rule/EditController.php
+++ b/app/Http/Controllers/Rule/EditController.php
@@ -87,11 +87,26 @@ class EditController extends Controller
         if ('' !== $query) {
             $search      = app(SearchInterface::class);
             $search->parseQuery($query);
-            $words       = $search->getWordsAsString();
+            $words          = $search->getWords();
+            $excludedWords  = $search->getExcludedWords();
             $operators   = $search->getOperators()->toArray();
-            if ('' !== $words) {
-                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => $words]));
-                $operators[] = ['type' => 'description_contains', 'value' => $words];
+            if (count($words) > 0) {
+                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => implode('', $words)]));
+                foreach($words as $word) {
+                    $operators[] = [
+                        'type'  => 'description_contains',
+                        'value' => $word,
+                    ];
+                }
+            }
+            if (count($excludedWords) > 0) {
+                session()->flash('warning', trans('firefly.rule_from_search_words', ['string' => implode('', $excludedWords)]));
+                foreach($excludedWords as $excludedWord) {
+                    $operators[] = [
+                        'type'  => '-description_contains',
+                        'value' => $excludedWord,
+                    ];
+                }
             }
             $oldTriggers = $this->parseFromOperators($operators);
         }
diff --git a/app/Http/Controllers/SearchController.php b/app/Http/Controllers/SearchController.php
index 6bf2204c3b..ceab9169c5 100644
--- a/app/Http/Controllers/SearchController.php
+++ b/app/Http/Controllers/SearchController.php
@@ -83,12 +83,13 @@ class SearchController extends Controller
         $searcher->parseQuery($fullQuery);
 
         // words from query and operators:
-        $query            = $searcher->getWordsAsString();
+        $words            = $searcher->getWords();
+        $excludedWords    = $searcher->getExcludedWords();
         $operators        = $searcher->getOperators();
         $invalidOperators = $searcher->getInvalidOperators();
         $subTitle         = (string) trans('breadcrumbs.search_result', ['query' => $fullQuery]);
 
-        return view('search.index', compact('query', 'operators', 'page', 'rule', 'fullQuery', 'subTitle', 'ruleId', 'ruleChanged', 'invalidOperators'));
+        return view('search.index', compact('words', 'excludedWords', 'operators', 'page', 'rule', 'fullQuery', 'subTitle', 'ruleId', 'ruleChanged', 'invalidOperators'));
     }
 
     /**
diff --git a/app/Providers/SearchServiceProvider.php b/app/Providers/SearchServiceProvider.php
index 0bb2b1056b..98b5a0f850 100644
--- a/app/Providers/SearchServiceProvider.php
+++ b/app/Providers/SearchServiceProvider.php
@@ -23,7 +23,10 @@ declare(strict_types=1);
 
 namespace FireflyIII\Providers;
 
+use FireflyIII\Support\Search\QueryParser\GdbotsQueryParser;
 use FireflyIII\Support\Search\OperatorQuerySearch;
+use FireflyIII\Support\Search\QueryParser\QueryParser;
+use FireflyIII\Support\Search\QueryParser\QueryParserInterface;
 use FireflyIII\Support\Search\SearchInterface;
 use Illuminate\Foundation\Application;
 use Illuminate\Support\ServiceProvider;
@@ -43,6 +46,18 @@ class SearchServiceProvider extends ServiceProvider
      */
     public function register(): void
     {
+        $this->app->bind(
+            QueryParserInterface::class,
+            static function (): GdbotsQueryParser|QueryParser {
+                $implementation = config('search.query_parser');
+
+                return match($implementation) {
+                    'new' => app(QueryParser::class),
+                    default => app(GdbotsQueryParser::class),
+                };
+            }
+        );
+
         $this->app->bind(
             SearchInterface::class,
             static function (Application $app) {
diff --git a/app/Support/Search/OperatorQuerySearch.php b/app/Support/Search/OperatorQuerySearch.php
index 53fce8cef9..8dfda1e1b4 100644
--- a/app/Support/Search/OperatorQuerySearch.php
+++ b/app/Support/Search/OperatorQuerySearch.php
@@ -39,22 +39,14 @@ use FireflyIII\Repositories\Budget\BudgetRepositoryInterface;
 use FireflyIII\Repositories\Category\CategoryRepositoryInterface;
 use FireflyIII\Repositories\Tag\TagRepositoryInterface;
 use FireflyIII\Repositories\UserGroups\Currency\CurrencyRepositoryInterface;
+use FireflyIII\Support\Search\QueryParser\QueryParserInterface;
+use FireflyIII\Support\Search\QueryParser\Node;
+use FireflyIII\Support\Search\QueryParser\FieldNode;
+use FireflyIII\Support\Search\QueryParser\StringNode;
+use FireflyIII\Support\Search\QueryParser\NodeGroup;
+
 use FireflyIII\Support\ParseDateString;
 use FireflyIII\User;
-use Gdbots\QueryParser\Enum\BoolOperator;
-use Gdbots\QueryParser\Node\Date;
-use Gdbots\QueryParser\Node\Emoji;
-use Gdbots\QueryParser\Node\Emoticon;
-use Gdbots\QueryParser\Node\Field;
-use Gdbots\QueryParser\Node\Hashtag;
-use Gdbots\QueryParser\Node\Mention;
-use Gdbots\QueryParser\Node\Node;
-use Gdbots\QueryParser\Node\Numbr;
-use Gdbots\QueryParser\Node\Phrase;
-use Gdbots\QueryParser\Node\Subquery;
-use Gdbots\QueryParser\Node\Url;
-use Gdbots\QueryParser\Node\Word;
-use Gdbots\QueryParser\QueryParser;
 use Illuminate\Pagination\LengthAwarePaginator;
 use Illuminate\Support\Collection;
 
@@ -131,6 +123,16 @@ class OperatorQuerySearch implements SearchInterface
         return implode(' ', $this->words);
     }
 
+    public function getWords(): array
+    {
+        return $this->words;
+    }
+
+    public function getExcludedWords(): array
+    {
+        return $this->prohibitedWords;
+    }
+
     /**
      * @throws FireflyException
      */
@@ -145,10 +147,11 @@ class OperatorQuerySearch implements SearchInterface
     public function parseQuery(string $query): void
     {
         app('log')->debug(sprintf('Now in parseQuery(%s)', $query));
-        $parser = new QueryParser();
+        $parser = app(QueryParserInterface::class);
+        app('log')->debug(sprintf('Using %s as implementation for QueryParserInterface', get_class($parser)));
 
         try {
-            $query1 = $parser->parse($query);
+            $parsedQuery = $parser->parse($query);
         } catch (\LogicException|\TypeError $e) {
             app('log')->error($e->getMessage());
             app('log')->error(sprintf('Could not parse search: "%s".', $query));
@@ -156,10 +159,8 @@ class OperatorQuerySearch implements SearchInterface
             throw new FireflyException(sprintf('Invalid search value "%s". See the logs.', e($query)), 0, $e);
         }
 
-        app('log')->debug(sprintf('Found %d node(s)', count($query1->getNodes())));
-        foreach ($query1->getNodes() as $searchNode) {
-            $this->handleSearchNode($searchNode);
-        }
+        app('log')->debug(sprintf('Found %d node(s) at top-level', count($parsedQuery->getNodes())));
+        $this->handleSearchNode($parsedQuery, $parsedQuery->isProhibited(false));
 
         // add missing information
         $this->collector->withBillInformation();
@@ -173,81 +174,93 @@ class OperatorQuerySearch implements SearchInterface
      *
      * @SuppressWarnings("PHPMD.CyclomaticComplexity")
      */
-    private function handleSearchNode(Node $searchNode): void
+    private function handleSearchNode(Node $node, $flipProhibitedFlag): void
     {
-        $class = get_class($searchNode);
-        app('log')->debug(sprintf('Now in handleSearchNode(%s)', $class));
+        app('log')->debug(sprintf('Now in handleSearchNode(%s)', get_class($node)));
+
+        switch (true) {
+            case $node instanceof StringNode:
+                $this->handleStringNode($node, $flipProhibitedFlag);
+                break;
+
+            case $node instanceof FieldNode:
+                $this->handleFieldNode($node, $flipProhibitedFlag);
+                break;
+
+            case $node instanceof NodeGroup:
+                $this->handleNodeGroup($node, $flipProhibitedFlag);
+                break;
 
-        switch ($class) {
             default:
-                app('log')->error(sprintf('Cannot handle node %s', $class));
+                app('log')->error(sprintf('Cannot handle node %s', get_class($node)));
+                throw new FireflyException(sprintf('Firefly III search can\'t handle "%s"-nodes', get_class($node)));
+        }
+    }
 
-                throw new FireflyException(sprintf('Firefly III search can\'t handle "%s"-nodes', $class));
+    private function handleNodeGroup(NodeGroup $node, $flipProhibitedFlag): void
+    {
+        $prohibited = $node->isProhibited($flipProhibitedFlag);
 
-            case Subquery::class:
-                // loop all notes in subquery:
-                foreach ($searchNode->getNodes() as $subNode) { // @phpstan-ignore-line PHPStan thinks getNodes() does not exist but it does.
-                    $this->handleSearchNode($subNode);          // let's hope it's not too recursive
-                }
+        foreach ($node->getNodes() as $subNode) {
+            $this->handleSearchNode($subNode, $prohibited);
+        }
+    }
 
-                break;
 
-            case Word::class:
-            case Phrase::class:
-            case Numbr::class:
-            case Url::class:
-            case Date::class:
-            case Hashtag::class:
-            case Emoticon::class:
-            case Emoji::class:
-            case Mention::class:
-                $allWords      = (string) $searchNode->getValue();
-                app('log')->debug(sprintf('Add words "%s" to search string, because Node class is "%s"', $allWords, $class));
-                $this->words[] = $allWords;
 
-                break;
+    private function handleStringNode(StringNode $node, $flipProhibitedFlag): void
+    {
+        $string = (string) $node->getValue();
 
-            case Field::class:
-                app('log')->debug(sprintf('Now handle Node class %s', $class));
+        $prohibited = $node->isProhibited($flipProhibitedFlag);
 
-                /** @var Field $searchNode */
-                // used to search for x:y
-                $operator      = strtolower($searchNode->getValue());
-                $value         = $searchNode->getNode()->getValue();
-                $prohibited    = BoolOperator::PROHIBITED === $searchNode->getBoolOperator();
-                $context       = config(sprintf('search.operators.%s.needs_context', $operator));
+        if($prohibited) {
+            app('log')->debug(sprintf('Exclude string "%s" from search string', $string));
+            $this->prohibitedWords[] = $string;
+        } else {
+            app('log')->debug(sprintf('Add string "%s" to search string', $string));
+            $this->words[] = $string;
+        }
+    }
 
-                // is an operator that needs no context, and value is false, then prohibited = true.
-                if ('false' === $value && in_array($operator, $this->validOperators, true) && false === $context && !$prohibited) {
-                    $prohibited = true;
-                    $value      = 'true';
-                }
-                // if the operator is prohibited, but the value is false, do an uno reverse
-                if ('false' === $value && $prohibited && in_array($operator, $this->validOperators, true) && false === $context) {
-                    $prohibited = false;
-                    $value      = 'true';
-                }
+    /**
+     * @throws FireflyException
+     */
+    private function handleFieldNode(FieldNode $node, $flipProhibitedFlag): void
+    {
+        $operator = strtolower($node->getOperator());
+        $value = $node->getValue();
+        $prohibited = $node->isProhibited($flipProhibitedFlag);
 
-                // must be valid operator:
-                if (
-                    in_array($operator, $this->validOperators, true)
-                    && $this->updateCollector($operator, (string) $value, $prohibited)) {
-                    $this->operators->push(
-                        [
-                            'type'       => self::getRootOperator($operator),
-                            'value'      => (string) $value,
-                            'prohibited' => $prohibited,
-                        ]
-                    );
-                    app('log')->debug(sprintf('Added operator type "%s"', $operator));
-                }
-                if (!in_array($operator, $this->validOperators, true)) {
-                    app('log')->debug(sprintf('Added INVALID operator type "%s"', $operator));
-                    $this->invalidOperators[] = [
-                        'type'  => $operator,
-                        'value' => (string) $value,
-                    ];
-                }
+        $context = config(sprintf('search.operators.%s.needs_context', $operator));
+
+        // is an operator that needs no context, and value is false, then prohibited = true.
+        if ('false' === $value && in_array($operator, $this->validOperators, true) && false === $context && !$prohibited) {
+            $prohibited = true;
+            $value = 'true';
+        }
+        // if the operator is prohibited, but the value is false, do an uno reverse
+        if ('false' === $value && $prohibited && in_array($operator, $this->validOperators, true) && false === $context) {
+            $prohibited = false;
+            $value = 'true';
+        }
+
+        // must be valid operator:
+        if (in_array($operator, $this->validOperators, true)) {
+            if ($this->updateCollector($operator, (string)$value, $prohibited)) {
+                $this->operators->push([
+                    'type' => self::getRootOperator($operator),
+                    'value' => (string)$value,
+                    'prohibited' => $prohibited,
+                ]);
+                app('log')->debug(sprintf('Added operator type "%s"', $operator));
+            }
+        } else {
+            app('log')->debug(sprintf('Added INVALID operator type "%s"', $operator));
+            $this->invalidOperators[] = [
+                'type' => $operator,
+                'value' => (string)$value,
+            ];
         }
     }
 
@@ -2766,7 +2779,7 @@ class OperatorQuerySearch implements SearchInterface
     public function searchTransactions(): LengthAwarePaginator
     {
         $this->parseTagInstructions();
-        if (0 === count($this->getWords()) && 0 === count($this->getOperators())) {
+        if (0 === count($this->getWords()) && 0 === count($this->getExcludedWords()) && 0 === count($this->getOperators())) {
             return new LengthAwarePaginator([], 0, 5, 1);
         }
 
@@ -2818,11 +2831,6 @@ class OperatorQuerySearch implements SearchInterface
         }
     }
 
-    public function getWords(): array
-    {
-        return $this->words;
-    }
-
     public function setDate(Carbon $date): void
     {
         $this->date = $date;
diff --git a/app/Support/Search/QueryParser/FieldNode.php b/app/Support/Search/QueryParser/FieldNode.php
new file mode 100644
index 0000000000..5005d5fe57
--- /dev/null
+++ b/app/Support/Search/QueryParser/FieldNode.php
@@ -0,0 +1,31 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+/**
+ * Represents a field operator with value (e.g. amount:100)
+ */
+class FieldNode extends Node
+{
+    private string $operator;
+    private string $value;
+
+    public function __construct(string $operator, string $value, bool $prohibited = false)
+    {
+        $this->operator = $operator;
+        $this->value = $value;
+        $this->prohibited = $prohibited;
+    }
+
+    public function getOperator(): string
+    {
+        return $this->operator;
+    }
+
+    public function getValue(): string
+    {
+        return $this->value;
+    }
+}
diff --git a/app/Support/Search/QueryParser/GdbotsQueryParser.php b/app/Support/Search/QueryParser/GdbotsQueryParser.php
new file mode 100644
index 0000000000..c580b694be
--- /dev/null
+++ b/app/Support/Search/QueryParser/GdbotsQueryParser.php
@@ -0,0 +1,81 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+use FireflyIII\Exceptions\FireflyException;
+use Gdbots\QueryParser\QueryParser as BaseQueryParser;
+use Gdbots\QueryParser\Node as GdbotsNode;
+use Gdbots\QueryParser\Enum\BoolOperator;
+
+class GdbotsQueryParser implements QueryParserInterface
+{
+    private BaseQueryParser $parser;
+
+    public function __construct()
+    {
+        $this->parser = new BaseQueryParser();
+    }
+
+    /**
+     * @return NodeGroup
+     * @throws FireflyException
+     */
+    public function parse(string $query): NodeGroup
+    {
+        try {
+            $result = $this->parser->parse($query);
+            $nodes = array_map(
+                fn(GdbotsNode\Node $node) => $this->convertNode($node),
+                $result->getNodes()
+            );
+            return new NodeGroup($nodes);
+        } catch (\LogicException|\TypeError $e) {
+            fwrite(STDERR, "Setting up GdbotsQueryParserTest\n");
+            dd('Creating GdbotsQueryParser');
+            app('log')->error($e->getMessage());
+            app('log')->error(sprintf('Could not parse search: "%s".', $query));
+
+            throw new FireflyException(sprintf('Invalid search value "%s". See the logs.', e($query)), 0, $e);
+        }
+    }
+
+    private function convertNode(GdbotsNode\Node $node): Node
+    {
+        switch (true) {
+            case $node instanceof GdbotsNode\Word:
+                return new StringNode($node->getValue());
+
+            case $node instanceof GdbotsNode\Field:
+                return new FieldNode(
+                    $node->getValue(),
+                    (string) $node->getNode()->getValue(),
+                    BoolOperator::PROHIBITED === $node->getBoolOperator()
+                );
+
+            case $node instanceof GdbotsNode\Subquery:
+                return new NodeGroup(
+                    array_map(
+                        fn(GdbotsNode\Node $subNode) => $this->convertNode($subNode),
+                        $node->getNodes()
+                    )
+                );
+
+            case $node instanceof GdbotsNode\Phrase:
+            case $node instanceof GdbotsNode\Numbr:
+            case $node instanceof GdbotsNode\Date:
+            case $node instanceof GdbotsNode\Url:
+            case $node instanceof GdbotsNode\Hashtag:
+            case $node instanceof GdbotsNode\Mention:
+            case $node instanceof GdbotsNode\Emoticon:
+            case $node instanceof GdbotsNode\Emoji:
+                return new StringNode((string) $node->getValue());
+
+            default:
+                throw new FireflyException(
+                    sprintf('Unsupported node type: %s', get_class($node))
+                );
+        }
+    }
+}
diff --git a/app/Support/Search/QueryParser/Node.php b/app/Support/Search/QueryParser/Node.php
new file mode 100644
index 0000000000..e7ae29611b
--- /dev/null
+++ b/app/Support/Search/QueryParser/Node.php
@@ -0,0 +1,31 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+/**
+ * Base class for all nodes
+ */
+abstract class Node
+{
+    protected bool $prohibited;
+
+    /**
+     * Returns the prohibited status of the node, optionally inverted based on flipFlag
+     *
+     * Flipping is used when a node is inside a NodeGroup that has a prohibited status itself, causing inversion of the query parts inside
+     *
+     * @param bool $flipFlag When true, inverts the prohibited status
+     * @return bool The (potentially inverted) prohibited status
+     */
+    public function isProhibited(bool $flipFlag): bool
+    {
+        if ($flipFlag === true) {
+            return !$this->prohibited;
+        } else {
+            return $this->prohibited;
+        }
+
+    }
+}
diff --git a/app/Support/Search/QueryParser/NodeGroup.php b/app/Support/Search/QueryParser/NodeGroup.php
new file mode 100644
index 0000000000..8cf801dbbc
--- /dev/null
+++ b/app/Support/Search/QueryParser/NodeGroup.php
@@ -0,0 +1,34 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+/**
+ * Represents a group of nodes.
+ *
+ * NodeGroups can be nested inside other NodeGroups, making them subqueries
+ */
+class NodeGroup extends Node
+{
+    /** @var Node[] */
+    private array $nodes;
+
+    /**
+     * @param Node[] $nodes
+     * @param bool $prohibited
+     */
+    public function __construct(array $nodes, bool $prohibited = false)
+    {
+        $this->nodes = $nodes;
+        $this->prohibited = $prohibited;
+    }
+
+    /**
+     * @return Node[]
+     */
+    public function getNodes(): array
+    {
+        return $this->nodes;
+    }
+}
diff --git a/app/Support/Search/QueryParser/QueryParser.php b/app/Support/Search/QueryParser/QueryParser.php
new file mode 100644
index 0000000000..f1e951f5ce
--- /dev/null
+++ b/app/Support/Search/QueryParser/QueryParser.php
@@ -0,0 +1,177 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+/**
+ * Represents a result from parsing a query node
+ *
+ * Contains the parsed node and a flag indicating if this is the end of the query.
+ * Used to handle subquery parsing and termination.
+ */
+class NodeResult
+{
+    public function __construct(
+        public readonly ?Node $node,
+        public readonly bool $isSubqueryEnd
+    ) {
+    }
+}
+
+
+/**
+ * Single-pass parser that processes query strings into structured nodes.
+ * Scans each character once (O(n)) to build field searches, quoted strings,
+ * prohibited terms and nested subqueries without backtracking.
+ */
+class QueryParser implements QueryParserInterface
+{
+    private string $query;
+    private int $position = 0;
+
+    /** @return NodeGroup */
+    public function parse(string $query): NodeGroup
+    {
+        $this->query = $query;
+        $this->position = 0;
+        return $this->buildNodeGroup(false);
+    }
+
+    /** @return NodeGroup */
+    private function buildNodeGroup(bool $isSubquery, bool $prohibited = false): NodeGroup
+    {
+        $nodes = [];
+        $nodeResult = $this->buildNextNode($isSubquery);
+
+        while ($nodeResult->node !== null) {
+            $nodes[] = $nodeResult->node;
+            if($nodeResult->isSubqueryEnd) {
+                break;
+            }
+            $nodeResult = $this->buildNextNode($isSubquery);
+        }
+
+        return new NodeGroup($nodes, $prohibited);
+    }
+
+    private function buildNextNode(bool $isSubquery): NodeResult
+    {
+        $tokenUnderConstruction = '';
+        $inQuotes = false;
+        $fieldName = '';
+        $prohibited = false;
+
+        while ($this->position < strlen($this->query)) {
+            $char = $this->query[$this->position];
+
+            // If we're in a quoted string, we treat all characters except another quote as ordinary characters
+            if ($inQuotes) {
+                if ($char !== '"') {
+                    $tokenUnderConstruction .= $char;
+                    $this->position++;
+                    continue;
+                } else {
+                    $this->position++;
+                    return new NodeResult(
+                        $this->createNode($tokenUnderConstruction, $fieldName, $prohibited),
+                        false
+                    );
+                }
+            }
+
+            switch ($char) {
+                case '-':
+                    if ($tokenUnderConstruction === '') {
+                        // A minus sign at the beginning of a token indicates prohibition
+                        $prohibited = true;
+                    } else {
+                        // In any other location, it's just a normal character
+                        $tokenUnderConstruction .= $char;
+                    }
+                    break;
+
+                case '"':
+                    if ($tokenUnderConstruction === '') {
+                        // A quote sign at the beginning of a token indicates the start of a quoted string
+                        $inQuotes = true;
+                    } else {
+                        // In any other location, it's just a normal character
+                        $tokenUnderConstruction .= $char;
+                    }
+                    break;
+
+                case '(':
+                    if ($tokenUnderConstruction === '') {
+                        // A left parentheses at the beginning of a token indicates the start of a subquery
+                        $this->position++;
+                        return new NodeResult($this->buildNodeGroup(true, $prohibited),
+                            false
+                        );
+                    } else {
+                        // In any other location, it's just a normal character
+                        $tokenUnderConstruction .= $char;
+                    }
+                    break;
+
+                case ')':
+                    // A right parentheses while in a subquery means the subquery ended,
+                    // thus also signaling the end of any node currently being built
+                    if ($isSubquery) {
+                        $this->position++;
+                        return new NodeResult(
+                            $tokenUnderConstruction !== ''
+                            ? $this->createNode($tokenUnderConstruction, $fieldName, $prohibited)
+                            : null,
+                            true
+                        );
+                    }
+                    // In any other location, it's just a normal character
+                    $tokenUnderConstruction .= $char;
+                    break;
+
+
+                case ':':
+                    if ($tokenUnderConstruction !== '') {
+                        // If we meet a colon with a left-hand side string, we know we're in a field and are about to set up the value
+                        $fieldName = $tokenUnderConstruction;
+                        $tokenUnderConstruction = '';
+                    } else {
+                        // In any other location, it's just a normal character
+                        $tokenUnderConstruction .= $char;
+                    }
+                    break;
+
+                case ' ':
+                    // A space indicates the end of a token construction if non-empty, otherwise it's just ignored
+                    if ($tokenUnderConstruction !== '') {
+                        $this->position++;
+                        return new NodeResult(
+                            $this->createNode($tokenUnderConstruction, $fieldName, $prohibited),
+                            false
+                        );
+                    }
+                    break;
+
+                default:
+                    $tokenUnderConstruction .= $char;
+            }
+
+            $this->position++;
+        }
+
+        $finalNode = $tokenUnderConstruction !== '' || $fieldName !== ''
+        ? $this->createNode($tokenUnderConstruction, $fieldName, $prohibited)
+        : null;
+
+        return new NodeResult($finalNode, true);
+    }
+
+    private function createNode(string $token, string $fieldName, bool $prohibited): Node
+    {
+        if (strlen($fieldName) > 0) {
+            return new FieldNode(trim($fieldName), trim($token), $prohibited);
+        }
+        return new StringNode(trim($token), $prohibited);
+    }
+}
diff --git a/app/Support/Search/QueryParser/QueryParserInterface.php b/app/Support/Search/QueryParser/QueryParserInterface.php
new file mode 100644
index 0000000000..00383af0ff
--- /dev/null
+++ b/app/Support/Search/QueryParser/QueryParserInterface.php
@@ -0,0 +1,13 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+interface QueryParserInterface
+{
+    /**
+     * @return NodeGroup
+     */
+    public function parse(string $query): NodeGroup;
+}
diff --git a/app/Support/Search/QueryParser/StringNode.php b/app/Support/Search/QueryParser/StringNode.php
new file mode 100644
index 0000000000..6164cc1de7
--- /dev/null
+++ b/app/Support/Search/QueryParser/StringNode.php
@@ -0,0 +1,24 @@
+<?php
+
+declare(strict_types=1);
+
+namespace FireflyIII\Support\Search\QueryParser;
+
+/**
+ * Represents a string in the search query, meaning either a single-word without spaces or a quote-delimited string
+ */
+class StringNode extends Node
+{
+    private string $value;
+
+    public function __construct(string $value, bool $prohibited = false)
+    {
+        $this->value = $value;
+        $this->prohibited = $prohibited;
+    }
+
+    public function getValue(): string
+    {
+        return $this->value;
+    }
+}
diff --git a/app/Support/Search/SearchInterface.php b/app/Support/Search/SearchInterface.php
index b9197e9daf..3c9a78e19e 100644
--- a/app/Support/Search/SearchInterface.php
+++ b/app/Support/Search/SearchInterface.php
@@ -38,8 +38,10 @@ interface SearchInterface
     public function getModifiers(): Collection;
 
     public function getOperators(): Collection;
+    public function getWords(): array;
 
     public function getWordsAsString(): string;
+    public function getExcludedWords(): array;
 
     public function hasModifiers(): bool;
 
diff --git a/config/search.php b/config/search.php
index 304cd080a0..249fabd363 100644
--- a/config/search.php
+++ b/config/search.php
@@ -253,4 +253,8 @@ return [
         'destination_balance_lt'                  => ['alias' => false, 'needs_context' => true],
         'destination_balance_is'                  => ['alias' => false, 'needs_context' => true],
     ],
+    /**
+     * Which query parser to use - 'new' or 'legacy'
+     */
+    'query_parser'     => env('QUERY_PARSER_IMPLEMENTATION', 'legacy'),
 ];
diff --git a/public/v1/css/firefly.css b/public/v1/css/firefly.css
index 2c93945e76..3b546ab095 100644
--- a/public/v1/css/firefly.css
+++ b/public/v1/css/firefly.css
@@ -258,6 +258,11 @@ span.twitter-typeahead {
     top: 46px !important;
 }
 
+.search-word {
+    white-space: pre;
+    background-color: #f5f5f5;
+}
+
 /*
 .twitter-typeahead {
     width:100%;
diff --git a/resources/lang/en_US/firefly.php b/resources/lang/en_US/firefly.php
index 09db945ef0..7d56ff3837 100644
--- a/resources/lang/en_US/firefly.php
+++ b/resources/lang/en_US/firefly.php
@@ -329,7 +329,9 @@ return [
     'search_query'                                         => 'Query',
     'search_found_transactions'                            => 'Firefly III found :count transaction in :time seconds.|Firefly III found :count transactions in :time seconds.',
     'search_found_more_transactions'                       => 'Firefly III found more than :count transactions in :time seconds.',
-    'search_for_query'                                     => 'Firefly III is searching for transactions with all of these words in them: <span class="text-info">:query</span>',
+    'search_for_overview'                                  => 'Firefly III is searching for transactions that fulfill <b>all</b> of the following conditions:',
+    'search_for_query'                                     => 'All of these words must be present: <span class="text-info">:query</span>',
+    'search_for_excluded_words'                            => 'None of these words may be present: <span class="text-info">:excluded_words</span>',
     'invalid_operators_list'                               => 'These search parameters are not valid and have been ignored.',
 
     // old
@@ -729,7 +731,6 @@ return [
     // Ignore this comment
 
     // END
-    'modifiers_applies_are'                                => 'The following modifiers are applied to the search as well:',
     'general_search_error'                                 => 'An error occurred while searching. Please check the log files for more information.',
     'search_box'                                           => 'Search',
     'search_box_intro'                                     => 'Welcome to the search function of Firefly III. Enter your search query in the box. Make sure you check out the help file because the search is pretty advanced.',
diff --git a/resources/views/search/index.twig b/resources/views/search/index.twig
index b48dfd069e..07c5b20866 100644
--- a/resources/views/search/index.twig
+++ b/resources/views/search/index.twig
@@ -38,11 +38,38 @@
                             <input type="hidden" name="rule" value="{{ ruleId }}"/>
                         {% endif %}
                     </form>
-                    {% if '' != query %}
-                        <p>
-                            {{ trans('firefly.search_for_query', {query: query|escape})|raw }}
-                        </p>
+                     <p>
+                            {{ trans('firefly.search_for_overview') |raw }}
+                    </p>
+                    <ul>
+                    {% if words|length > 0 %}
+                        <li>
+                            {{- trans('firefly.search_for_query', {
+                                query: words
+                                    |map(word => '<span class="search-word">' ~ word|escape ~ '</span>')
+                                    |join(' ')
+                            })|raw -}}
+                        </li>
                     {% endif %}
+                    {% if excludedWords|length > 0 %}
+                        <li>
+                                    {{- trans('firefly.search_for_excluded_words', {
+                                        excluded_words: excludedWords
+                                            |map(word => '<span class="search-word">' ~ word|escape ~ '</span>')
+                                            |join(' ')
+                                    })|raw -}}
+                        </li>
+                    {% endif %}
+
+                    {% for operator in operators %}
+                            {% if operator.prohibited %}
+                                <li>{{- trans('firefly.search_modifier_not_'~operator.type, {value: operator.value}) -}}</li>
+                            {% endif %}
+                            {% if not operator.prohibited %}
+                                <li>{{- trans('firefly.search_modifier_'~operator.type, {value: operator.value}) -}}</li>
+                            {% endif %}
+                    {% endfor %}
+                    </ul>
 
                     {% if invalidOperators|length > 0 %}
                         <p>{{ trans('firefly.invalid_operators_list') }}</p>
@@ -52,25 +79,11 @@
                             {% endfor %}
                         </ul>
                     {% endif %}
-
-                    {% if operators|length > 0 %}
-                        <p>{{ trans('firefly.modifiers_applies_are') }}</p>
-                        <ul>
-                            {% for operator in operators %}
-                                {% if operator.prohibited %}
-                                    <li>{{ trans('firefly.search_modifier_not_'~operator.type, {value: operator.value}) }}</li>
-                                {% endif %}
-                                {% if not operator.prohibited %}
-                                    <li>{{ trans('firefly.search_modifier_'~operator.type, {value: operator.value}) }}</li>
-                                {% endif %}
-                            {% endfor %}
-                        </ul>
-                    {% endif %}
                 </div>
             </div>
         </div>
     </div>
-    {% if query or operators|length > 0 %}
+    {% if query|length > 0 or excludedWords|length > 0 or operators|length > 0 %}
         <div class="row result_row">
             <div class="col-lg-12 col-md-12 col-sm-12">
                 <div class="box search_box">
@@ -125,7 +138,7 @@
             </div>
         </div>
     {% endif %}
-    {% if query == "" and operators|length == 0 %}
+    {% if query|length == 0 and excludedWords|length == 0 and operators|length == 0 %}
         <div class="row">
             <div class="col-lg-12 col-md-12 col-sm-12">
                 <div class="box">
diff --git a/tests/unit/Support/Search/QueryParser/AbstractQueryParserInterfaceParseQueryTest.php b/tests/unit/Support/Search/QueryParser/AbstractQueryParserInterfaceParseQueryTest.php
new file mode 100644
index 0000000000..f324a8661a
--- /dev/null
+++ b/tests/unit/Support/Search/QueryParser/AbstractQueryParserInterfaceParseQueryTest.php
@@ -0,0 +1,197 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\unit\Support\Search\QueryParser;
+
+use FireflyIII\Support\Search\QueryParser\FieldNode;
+use FireflyIII\Support\Search\QueryParser\QueryParserInterface;
+use FireflyIII\Support\Search\QueryParser\StringNode;
+use FireflyIII\Support\Search\QueryParser\NodeGroup;
+use FireflyIII\Support\Search\QueryParser\Node;
+use Tests\integration\TestCase;
+
+abstract class AbstractQueryParserInterfaceParseQueryTest extends TestCase
+{
+    abstract protected function createParser(): QueryParserInterface;
+
+    public function queryDataProvider(): array
+    {
+        return [
+            'empty query' => [
+                'query' => '',
+                'expected' => new NodeGroup([])
+            ],
+            'simple word' => [
+                'query' => 'groceries',
+                'expected' => new NodeGroup([new StringNode('groceries')])
+            ],
+            'prohibited word' => [
+                'query' => '-groceries',
+                'expected' => new NodeGroup([new StringNode('groceries', true)])
+            ],
+            'prohibited field' => [
+                'query' => '-amount:100',
+                'expected' => new NodeGroup([new FieldNode('amount', '100', true)])
+            ],
+            'quoted word' => [
+                'query' => '"test phrase"',
+                'expected' => new NodeGroup([new StringNode('test phrase')])
+            ],
+            'prohibited quoted word' => [
+                'query' => '-"test phrase"',
+                'expected' => new NodeGroup([new StringNode('test phrase', true)])
+            ],
+            'multiple words' => [
+                'query' => 'groceries shopping market',
+                'expected' => new NodeGroup([
+                    new StringNode('groceries'),
+                    new StringNode('shopping'),
+                    new StringNode('market')
+                ])
+            ],
+            'field operator' => [
+                'query' => 'amount:100',
+                'expected' => new NodeGroup([new FieldNode('amount', '100')])
+            ],
+            'quoted field value with single space' => [
+                'query' => 'description:"test phrase"',
+                'expected' => new NodeGroup([new FieldNode('description', 'test phrase')])
+            ],
+            'multiple fields' => [
+                'query' => 'amount:100 category:food',
+                'expected' => new NodeGroup([
+                    new FieldNode('amount', '100'),
+                    new FieldNode('category', 'food')
+                ])
+            ],
+            'simple subquery' => [
+                'query' => '(amount:100 category:food)',
+                'expected' => new NodeGroup([
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new FieldNode('category', 'food')
+                    ])
+                ])
+            ],
+            'prohibited subquery' => [
+                'query' => '-(amount:100 category:food)',
+                'expected' => new NodeGroup([
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new FieldNode('category', 'food')
+                    ], true)
+                ])
+            ],
+            'nested subquery' => [
+                'query' => '(amount:100 (description:"test" category:food))',
+                'expected' => new NodeGroup([
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new NodeGroup([
+                            new FieldNode('description', 'test'),
+                            new FieldNode('category', 'food')
+                        ])
+                    ])
+                ])
+            ],
+            'mixed words and operators' => [
+                'query' => 'groceries amount:50 shopping',
+                'expected' => new NodeGroup([
+                    new StringNode('groceries'),
+                    new FieldNode('amount', '50'),
+                    new StringNode('shopping')
+                ])
+            ],
+            'subquery after field value' => [
+                'query' => 'amount:100 (description:"market" category:food)',
+                'expected' => new NodeGroup([
+                    new FieldNode('amount', '100'),
+                    new NodeGroup([
+                        new FieldNode('description', 'market'),
+                        new FieldNode('category', 'food')
+                    ])
+                ])
+            ],
+            'word followed by subquery' => [
+                'query' => 'groceries (amount:100 description_contains:"test")',
+                'expected' => new NodeGroup([
+                    new StringNode('groceries'),
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new FieldNode('description_contains', 'test')
+                    ])
+                ])
+            ],
+            'nested subquery with prohibited field' => [
+                'query' => '(amount:100 (description_contains:"test payment" -has_attachments:true))',
+                'expected' => new NodeGroup([
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new NodeGroup([
+                            new FieldNode('description_contains', 'test payment'),
+                            new FieldNode('has_attachments', 'true', true)
+                        ])
+                    ])
+                ])
+            ],
+            'complex nested subqueries' => [
+                'query' => 'shopping (amount:50 market (-category:food word description:"test phrase" (has_notes:true)))',
+                'expected' => new NodeGroup([
+                    new StringNode('shopping'),
+                    new NodeGroup([
+                        new FieldNode('amount', '50'),
+                        new StringNode('market'),
+                        new NodeGroup([
+                            new FieldNode('category', 'food', true),
+                            new StringNode('word'),
+                            new FieldNode('description', 'test phrase'),
+                            new NodeGroup([
+                                new FieldNode('has_notes', 'true')
+                            ])
+                        ])
+                    ])
+                ])
+            ],
+            'word with multiple spaces' => [
+                'query' => '"multiple   spaces"',
+                'expected' => new NodeGroup([new StringNode('multiple   spaces')])
+            ],
+            'field with multiple spaces in value' => [
+                'query' => 'description:"multiple   spaces   here"',
+                'expected' => new NodeGroup([new FieldNode('description', 'multiple   spaces   here')])
+            ],
+            'unmatched right parenthesis in word' => [
+                'query' => 'test)word',
+                'expected' => new NodeGroup([new StringNode('test)word')])
+            ],
+            'unmatched right parenthesis in field' => [
+                'query' => 'description:test)phrase',
+                'expected' => new NodeGroup([new FieldNode('description', 'test)phrase')])
+            ],
+            'subquery followed by word' => [
+                'query' => '(amount:100 category:food) shopping',
+                'expected' => new NodeGroup([
+                    new NodeGroup([
+                        new FieldNode('amount', '100'),
+                        new FieldNode('category', 'food')
+                    ]),
+                    new StringNode('shopping')
+                ])
+            ]
+        ];
+    }
+
+    /**
+     * @dataProvider queryDataProvider
+     * @param string $query The query string to parse
+     * @param Node $expected The expected parse result
+     */
+    public function testQueryParsing(string $query, Node $expected): void
+    {
+        $actual = $this->createParser()->parse($query);
+
+        $this->assertEquals($expected, $actual);
+
+    }
+}
diff --git a/tests/unit/Support/Search/QueryParser/GdbotsQueryParserParseQueryTest.php b/tests/unit/Support/Search/QueryParser/GdbotsQueryParserParseQueryTest.php
new file mode 100644
index 0000000000..c5880fe98c
--- /dev/null
+++ b/tests/unit/Support/Search/QueryParser/GdbotsQueryParserParseQueryTest.php
@@ -0,0 +1,23 @@
+<?php
+
+namespace Tests\unit\Support\Search\QueryParser;
+
+use FireflyIII\Support\Search\QueryParser\GdbotsQueryParser;
+use FireflyIII\Support\Search\QueryParser\QueryParserInterface;
+
+/**
+ * @group unit-test
+ * @group support
+ * @group search
+ *
+ * @internal
+ *
+ * @coversNothing
+ */
+final class GdbotsQueryParserParseQueryTest extends AbstractQueryParserInterfaceParseQueryTest
+{
+    protected function createParser(): QueryParserInterface
+    {
+        return new GdbotsQueryParser();
+    }
+}
diff --git a/tests/unit/Support/Search/QueryParser/QueryParserParseQueryTest.php b/tests/unit/Support/Search/QueryParser/QueryParserParseQueryTest.php
new file mode 100644
index 0000000000..4cbf24d1f5
--- /dev/null
+++ b/tests/unit/Support/Search/QueryParser/QueryParserParseQueryTest.php
@@ -0,0 +1,24 @@
+<?php
+
+namespace Tests\unit\Support\Search\QueryParser;
+
+use FireflyIII\Support\Search\QueryParser\QueryParser;
+use FireflyIII\Support\Search\QueryParser\QueryParserInterface;
+
+
+/**
+ * @group unit-test
+ * @group support
+ * @group search
+ *
+ * @internal
+ *
+ * @coversNothing
+ */
+final class QueryParserParseQueryTest extends AbstractQueryParserInterfaceParseQueryTest
+{
+    protected function createParser(): QueryParserInterface
+    {
+        return new QueryParser();
+    }
+}