Module 6 · Lesson 1

Scheduled Transactions

10 min read

Scheduled Transactions

Scheduled transactions are recurring bills, income, or transfers that happen on a regular schedule. Setting them up helps with cash-flow forecasting and ensures you don't forget important payments.

What are Scheduled Transactions?

Scheduled transactions are:
- Recurring bills - Rent, insurance, subscriptions
- Regular income - Paychecks, freelance payments
- Automatic transfers - Savings transfers, loan payments
- Future-dated - Transactions that will happen in the future

Why Use Scheduled Transactions?

Benefits:
1. Cash-flow forecasting - See future balance including scheduled items
2. Budget planning - Know when money comes in and goes out
3. Reminders - Never forget a bill payment
4. Accuracy - Complete picture of your finances

Creating Scheduled Transactions

Step 1: Navigate to Scheduled Transactions

  1. Go to Scheduled Transactions in main navigation
  2. Or navigate directly from the transactions page
  3. Click "New Scheduled Transaction" button or go to New Scheduled Transaction

Try it now: If you have demo data, view scheduled transactions to see examples, then create a new scheduled transaction.

Step 2: Enter Transaction Details

Fill in the form:
- Description - What is this transaction? (e.g., "Rent Payment")
- Amount - How much? (use negative for expenses, positive for income)
- Account - Which account does this affect?
- Tag - What category? (e.g., "Housing" for rent)

Step 3: Set Schedule

Choose when this transaction occurs:
- Frequency - Daily, weekly, bi-weekly, monthly, etc.
- Start Date - When does this start?
- End Date - When does this end? (optional, leave blank for ongoing)

Step 4: Save

Click "Save" to create the scheduled transaction.

Common Scheduled Transactions

Income

  • Paycheck - Bi-weekly or monthly salary
  • Freelance income - Regular client payments
  • Investment income - Dividends, interest

Fixed Expenses

  • Rent/Mortgage - Monthly housing payment
  • Insurance - Monthly premiums
  • Loan payments - Car loan, student loan
  • Subscriptions - Netflix, Spotify, etc.

Savings

  • Emergency fund transfer - Monthly savings transfer
  • Retirement contribution - 401k, IRA contributions
  • Goal savings - Vacation fund, house down payment

Editing and Managing Scheduled Transactions

Edit a Scheduled Transaction

  1. Go to Scheduled Transactions list
  2. Click on the transaction you want to edit
  3. Make changes
  4. Click "Save"

Delete a Scheduled Transaction

  1. Go to Scheduled Transactions list
  2. Click on the transaction
  3. Click "Delete" or "Remove"
  4. Confirm deletion

Skip a Scheduled Transaction

Sometimes you need to skip one occurrence:
1. Go to Scheduled Transactions list
2. Find the upcoming transaction
3. Click "Skip" for that occurrence
4. It won't be created, but future occurrences continue

Scheduled Transactions and Cash-Flow

Scheduled transactions appear in your cash-flow forecast:

  • Upcoming transactions show in future balance calculations
  • "Upcoming Through" date includes scheduled transactions (set this to your budget end date for the most complete view)
  • Forecast accuracy improves with more scheduled transactions

The more scheduled transactions you have, the more accurate your cash-flow forecast becomes.

Best Practices

  1. Set up all recurring items - Don't leave any out. View your scheduled transactions to see what you have
  2. Use accurate amounts - Check your statements for exact amounts
  3. Update as needed - Change amounts if bills change. Edit scheduled transactions as your bills change
  4. Review regularly - Make sure scheduled transactions are still accurate
  5. Match your budget - Scheduled transactions should align with budget categories

Common Mistakes

Mistake: Forgetting Annual Expenses

Problem: Annual subscriptions or insurance not scheduled

Solution: Create scheduled transactions for annual expenses, or divide by 12 for monthly

Mistake: Wrong Amounts

Problem: Scheduled amount doesn't match actual bill

Solution: Check statements and update scheduled transaction amount

Mistake: Not Updating

Problem: Scheduled transaction amount changed but not updated in app

Solution: Review scheduled transactions monthly and update as needed

Key Takeaway: Scheduled transactions help with cash-flow forecasting and ensure you don't forget recurring bills. Set up all your recurring income and expenses. The more scheduled transactions you have, the more accurate your financial picture becomes.