Setting a Recurring transaction

In today's fast-paced world, managing recurring financial obligations efficiently is crucial. Our app simplifies this process by allowing users to set up recurring transactions. Whether it's monthly rent payments, weekly payroll disbursements, or any other regular expense, you can automate these transactions to ensure they are completed on time, every time. This feature not only saves you time but also helps in maintaining consistent cash flow management and financial planning. Set it once, and let the app handle the rest, giving you peace of mind and more time to focus on other important aspects of your life or business. Let's see how to do this:

Step 1: Go to the Transaction creation page

Step 2: Press on "Once"

By default, a transaction is set to be "Once" only. To make the transaction to be recurring, we need to set recurring conditions for it

Step 3: Set Recurring conditions

There are 3 different types of conditions that you can set:

• Interval:

  • Allows you to set up transactions at regular intervals, starting on any specified day.

  • For example: Every 2 days, Every 3 weeks, Every 1 month

• Fixed Days:

  • Enables you to set transactions to occur on specific days

  • For example: repeat every Monday or on the 8th day of every month.

• Special Days:

  • Offers the flexibility to set transactions on special days within a period.

  • Options include:

    • the last day of the month

    • the last weekday of the month or week,

    • the nearest weekday to a specific day of the month,

    • the nth weekday of the month,

    • and more.

You can also set end conditions on it:

• End date: No more recurring transactions are created after the end date

• Number of times: Create at most a specific number of recurring transactions

If any of the end conditions are met, the recurring transaction will be expired.

By choosing the option that best fits your requirements, you can ensure that all your recurring transactions are accurately recorded without the hassle of manual entry.

Once the record is completed, you can view the corresponding entries on the Recurring Transactions page, which lists ongoing and completed recurring events.

The app will periodically check if any recurring transactions have to be added