Skip to main content

Managing Recurring Transactions

This guide explains how to set up and manage recurring transactions for regular income, expenses, and transfers. Recurring transactions power your balance projections and help you never forget regular payments.

What to Set Up as Recurring​

Recurring Incomes​

Set up recurring income for:

  • Monthly salary
  • Regular freelance retainers
  • Rental income
  • Pension payments
  • Regular investment returns

Recurring Expenses​

Set up recurring expenses for:

  • Rent or mortgage
  • Utility bills (electricity, water, internet)
  • Subscriptions (Netflix, Spotify, gym)
  • Insurance premiums
  • Loan EMIs
  • Regular services (maid, driver)

Recurring Transfers​

Set up recurring transfers for:

  • Monthly savings contributions
  • SIP investments
  • Emergency fund contributions
  • Regular debt payments

Step-by-Step: Create Recurring Income​

Let's set up a monthly salary:

  1. Go to Recurring Incomes in the menu
  2. Click "Add" or "Create"

Enter Details​

Description: Be specific

"Monthly Salary - Acme Corp"

Amount: Your net salary (take-home amount)

₹75,000

Account: Where the salary is deposited

HDFC Salary Account

Person: Who earns this (if tracking)

Dad

Tags: Categories

Salary, Income

Set the Schedule​

Next Transaction Date: When is the next payday?

February 1, 2024

Frequency: How often?

Monthly

Remaining Recurrences:

Leave empty (indefinite)

Save​

Click "Create" to save the recurring income.

Step-by-Step: Create Recurring Expense​

Let's set up a monthly rent payment:

  1. Go to Recurring Expenses in the menu
  2. Click "Add" or "Create"

Enter Details​

Description:

"Rent - Sunshine Apartments"

Amount:

₹20,000

Account: Where rent is paid from

HDFC Salary Account

Person: (Optional)

Leave blank (household expense)

Tags:

Rent, Bills, Essential

Set the Schedule​

Next Transaction Date:

February 5, 2024

Frequency:

Monthly

Remaining Recurrences:

Leave empty (indefinite)

Step-by-Step: Create Recurring Transfer​

Let's set up monthly savings:

  1. Go to Recurring Transfers in the menu
  2. Click "Add" or "Create"

Enter Details​

Description:

"Monthly Savings Contribution"

Amount:

₹15,000

From Account (Debtor):

HDFC Salary Account

To Account (Creditor):

Emergency Fund Account

Tags:

Savings

Set the Schedule​

Next Transaction Date:

February 1, 2024 (day after salary)

Frequency:

Monthly

Setting Up Finite Recurring Items​

For items that will end after a certain number of occurrences:

Loan EMI Example​

Description: "Car Loan EMI - HDFC"
Amount: ₹15,000
Frequency: Monthly
Remaining Recurrences: 36 (3 years)

After 36 occurrences, this recurring expense will stop appearing in projections.

Limited Subscription Example​

Description: "6-month Gym Membership"
Amount: ₹3,000
Frequency: Monthly
Remaining Recurrences: 6

Common Recurring Transaction Setups​

Salary and Regular Income​

ItemAmountFrequencyDate
Monthly Salary₹75,000Monthly1st
Rental Income₹12,000Monthly5th
Freelance Retainer₹20,000Monthly15th

Bills and Utilities​

ItemAmountFrequencyDate
Rent₹20,000Monthly5th
Electricity₹3,000Monthly15th
Internet₹1,000Monthly10th
Mobile₹500Monthly20th

Subscriptions​

ItemAmountFrequencyDate
Netflix₹649Monthly12th
Spotify₹119Monthly8th
Amazon Prime₹1,499YearlyMarch 15
Newspaper₹300Monthly1st

Loans and EMIs​

ItemAmountFrequencyRemaining
Home Loan EMI₹35,000Monthly180
Car Loan EMI₹15,000Monthly36
Education Loan₹8,000Monthly48

Savings and Investments​

ItemAmountFrequencyType
SIP - Equity Fund₹10,000MonthlyTransfer
Emergency Fund₹5,000MonthlyTransfer
PPF Contribution₹12,500MonthlyTransfer

Managing Recurring Transactions​

Viewing All Recurring Items​

Each recurring type has its own list:

  • View all recurring incomes
  • View all recurring expenses
  • View all recurring transfers

Editing Recurring Transactions​

Update when things change:

Amount Change:

  • Salary increase → Update recurring income amount
  • Rent hike → Update recurring expense amount
  • EMI change → Update accordingly

Account Change:

  • New bank account → Update the account field

Frequency Change:

  • Service changed billing cycle → Update frequency

Deleting Recurring Transactions​

Remove when:

  • You cancel a subscription
  • A loan is paid off
  • Service is discontinued
  • You stop a regular contribution

Pausing vs Deleting​

If something is temporarily stopped:

  • You can delete and recreate later
  • Or set remaining recurrences to 0 temporarily
  • Or remove the account (set to "No account") to skip transactions while keeping the schedule

Using No Account (Skip Transaction)​

For recurring incomes and expenses, you can leave the account empty:

When to use "No account":

  • You haven't decided which account to use yet
  • You want to track a reminder without creating transactions
  • You're planning future expenses but not ready to commit to an account

What happens:

  • No income/expense entry is created
  • The next transaction date still advances
  • Remaining recurrences still decrement
  • The recurring item stays active for projections planning

Using No Accounts for Transfers (Skip Transaction)​

For recurring transfers, you can leave both the source and destination accounts empty:

When to use "No accounts":

  • You're planning a future recurring transfer but haven't decided the accounts yet
  • You want to track a reminder without creating actual transfer entries
  • You're planning internal money movements but not ready to commit

What happens:

  • No transfer entry is created
  • The next transaction date still advances
  • Remaining recurrences still decrement
  • The recurring transfer stays active

Note: Either both accounts must be set, or both must be empty. You cannot set just one account.

Tips for Effective Recurring Management​

Be Comprehensive​

Add ALL regular items:

  • Even small subscriptions
  • Annual payments (insurance, subscriptions)
  • Irregular but regular items (quarterly insurance)

Use Accurate Dates​

Match actual payment dates:

  • Check when your salary actually hits
  • Verify bill due dates
  • Use the date money moves, not due date

Review Monthly​

Each month, check:

  • Are amounts still correct?
  • Any new subscriptions to add?
  • Any cancelled services to remove?
  • Are dates accurate?

Use Tags Consistently​

Tag recurring items like regular transactions:

  • Helps with filtering and analysis
  • Shows recurring items in category totals

Recurring Transactions and Projections​

How They Power Projections​

Your recurring transactions determine projected balances:

  1. System starts with current balance
  2. Adds expected recurring incomes
  3. Subtracts expected recurring expenses
  4. Applies expected transfers
  5. Shows day-by-day projected balance

Improving Projection Accuracy​

For better projections:

  • Set up ALL recurring items
  • Keep amounts current
  • Use accurate dates
  • Review and update regularly

What Projections Show​

With proper recurring setup, projections show:

  • When bills will hit your account
  • Expected balance after salary
  • Cash flow timing
  • Future financial position

Troubleshooting​

Projection Seems Wrong​

Check:

  • Are all recurring items set up?
  • Are amounts correct?
  • Are dates accurate?
  • Is the frequency right?

Missed Regular Payment​

If a recurring item didn't appear:

  • Check if it's still active
  • Verify the next transaction date
  • Ensure it wasn't accidentally deleted

Duplicate Entries in Projections​

If seeing duplicates:

  • Check for duplicate recurring entries
  • Verify you don't have both one-time and recurring for same item

What's Next?​

After setting up recurring transactions: