Introduction


Scheduled transactions in MoneyWiz are used to represent expenses and incomes which occur on a regular basis or transactions that are planned for the future. An example of a scheduled expense would be a phone bill and an example of a scheduled income would be your salary. These type of transactions are called recurring. There are also other 

transactions that you know you will pay in the future but probably just once. They fall into the category of scheduled and recurring transactions too.


Scheduled expense transaction


When you pay someone on a regular basis, your electricity bill for example, this is an expense for you and since you pay it each month, this makes it a recurring expense.


Scheduled income transaction


When someone pays you on a regular basis, your employer pays you the salary for example, this is an income for you, and because you get paid each month, this is a recurring income.


Scheduled transfer transaction


If you have two accounts, for example Checking and Savings account and you put money in the savings account regularly, this is considered a recurring transfer.

In MoneyWiz these transactions are managed in the Scheduled section.


Orientation


If you’ve created at least one account already, you will be able to create scheduled transactions for it. All scheduled transactions appear with a dot on the calendar and in the list below. If you don’t have any scheduled transactions yet, you will see the scheduled transactions help window.



In this guide we will explain how to:

  • Create new scheduled transactions
  • Convert between types of transactions
  • Presentation of scheduled transactions
  • Scheduled transaction options
  • Search, Sort & Filters
  • Financial Forecast
  • Notifications for due scheduled transactions


The screenshots in this guide are made from an iPad device. Whenever there are differences between the platforms/devices where MoneyWiz is available, these will be described. Please, do not hesitate to contact us in case you have any questions. 


Creating a new scheduled transaction


Scheduled transactions are created in one of the following ways:

  • Click on the + plus button from the bottom bar (available on all platforms)
  • Use a shortcut (available on Mac OS) – if you are in the Scheduled section MoneyWiz will open up the screen for scheduled transaction. Use: 
    • ⌘ cmd + E for Scheduled Expense
    • ⌘ cmd + I for Scheduled Income
    • ⌘ cmd + T for Scheduled Transfer




This will open a screen where you can enter your transaction details. For consistency throughout the app, all transactions are provided the same set of fields. Refer to the Working with Transactions guide to understand how to configure the Transactions Layout so it works best for your needs. 

In addition to the fields that are available for regular transactions, for scheduled transactions you can also configure if, how often and until when your scheduled transactions should repeat. Here is how: 

  • Auto-Pay: select when you want MoneyWiz to automatically pay the scheduled transaction for you, without your interaction. Please note that if you select this option, the transaction will be executed automatically, with the amount that you have set up during the creation of the scheduled transaction. You can change the amount at a later point by locating the readily executed transactions in the Account view when the transaction has been processed.
  • Repeat: for recurring transactions you need to set this to ON. On the other hand, if you need this transaction to occur just once, you can set it to OFF.
  • Frequency: indicate how often the transaction should repeat. You can choose between days, weeks, months and years and you can enter any value you want. For example if you choose 1 Month, this means that the transaction will repeat monthly (set this way by default); if you choose 4 weeks, the transaction will repeat fortnightly; and if you choose 3 months, the transaction will repeat quarterly.
  • End: specify after how many repeats this transaction will end. If you set Never, this transaction will repeat until you delete or edit it.


Convert between types of transactions


The same way you can convert between types of regular transactions, you can convert between types of scheduled transactions too. You just have to open a transaction for edit, then select any of the other tabs on the top - choose between Expense, Income and Transfer type. If you select a different type, all relevant data will be moved to the new type so you just have to enter some more details and save. 


For example, when converting an expense to a transfer - just select the To account and it's ready to save. 


Presentation of scheduled transactions


When in the Scheduled section, MoneyWiz will allow you to see your scheduled transactions in a calendar. 




You can click each day on the Calendar and MoneyWiz will show you the transactions you have scheduled for that day. You may navigate months back and forth by clicking on the arrows on the two sides of the name of the current month – this is located in the top bar. You can also do that by swiping the calendar left and right. 

In the bottom bar there are two adjustable indicators. These indicators will show you the total amount of your scheduled expenses for the period of time you have assigned to them.




You will notice, in time, some green, red and grey dots in the calendar. These dots indicate the days of the month that have scheduled transactions.

  • Green dot means that your transaction is in the future.
  • Red dot means that your transaction is already (over)due and you have to pay it.
  • Grey dot means that your transaction is already paid.

Right below the Calendar you should be able to see the transactions which appear on the selected day. If you scroll down a bit more you will see all other scheduled transactions as a list. Note that these transactions are filtered and sorted as per your preferences.

Each scheduled transaction is represented in a square shape (tile) and presents some important information. 

  • Next due date: this is the next date when the transaction becomes due, this appears at the top.
  • Due payments badge: if the transactions is already due, a red badge with the number of due payments appears on the top right corner.
  • Amount: the amount of the transaction. Note, that if there are no more payments scheduled for this transaction, MoneyWiz will strike through the amount.
  • Repeat: an indication of how often the transaction repeats
  • Account: the account of the transaction
  • Additional information: any additional information you may have entered for this transaction - payee, category, description, etc. 



Scheduled transaction options


When you click/tap on a scheduled transaction tile, you will be presented with the available options for this scheduled transaction. 




Pay


You can pay scheduled transactions at any time, even if the transaction is not yet due. Scheduled transactions in MoneyWiz are not automatically paid (unless they are set to do so). Each transaction (of any type) requires your confirmation for correct amount, date, etc, in order to be paid. Press on the Pay button and MoneyWiz will open a screen which will allow you to change the transaction properties before you pay it. Please note that this screen works the same way as when registering a regular transaction.

If you have set a scheduled transaction to be for more than one category, the Done button (on the top right corner for iOS & Android and on the bottom right for Mac OS) will change to Next, and on the next screen you will be able to split the amount between the categories/accounts just as with regular split payments. Please check the Split Transactions guide. The paid scheduled transactions will appear in your accounts and budgets just like regular transactions.


Skip


If you decide to skip a scheduled payment you can do that. If you select Skip, the app will notify which payment you are going to skip and it will show you the date of the next occurrence. If everything appears to be correct, confirm by clicking the Skip button.


Edit


If you have an existing scheduled transaction, you may need to adjust some of its details. You can do that when you open the transaction for edit. Note that you can change everything about a transaction at any time - including its type (as explained earlier in this guide).


Delete


If you need to delete a scheduled transaction, this is how - just press Delete. 


Duplicate


Select this option when you need to enter pretty much the same scheduled transaction again. This is especially useful for families where multiple transactions have almost the same details, only the account is different. 


Search, Sort & Filters


You can use the search, sort and filters the same way as in the lists of regular transactions. Please, note that only the filter by type is relevant for scheduled transactions and that is why it's the only one available here. 



Financial Forecast


In the Scheduled transactions section you are able to see a Financial Forecast. The Forecast takes all your scheduled incomes, expenses and transfers and calculates the balances of your accounts for a selected date. It also shows you a Forecast for your Net Worth. To use this feature tap/click and hold on any future date on the calendar.




Notifications for due scheduled transactions


MoneyWiz is equipped to send you notifications whenever the transactions become due. Please, note that the notifications arrive on the day and at the time you have set your scheduled transaction to become due. If you need the reminder to come earlier, just set an earlier date and time of the scheduled transaction. 


Please, make sure you have authorized the application to send notifications. You can verify this if you go to the iOS/Android Settings application, select Notifications and make sure that MoneyWiz is in the INCLUDE list of applications.


You can do the same for Mac OS, if you open the System Preferences application, then visit the Notifications section.


When a notification arrives it looks like that.