How to Schedule a Transaction
To schedule a transaction in personal finance software, set up all details associated with that transaction such as the payee, total amount and spending category for that transaction. Then date is assigned to the transaction to that it appears in the software on the personal finance calendar or on a list of transactions that are due.
When the due date for the scheduled transaction arrives, select the transaction from the calendar or list, then click on the option to pay the bill in your personal finance software. The scheduled transaction will now be entered into the account register used to pay the bill. Note that this does not actually pay your bill unless you have online bill pay set up through your personal finance software. You still need to make your payment.
Automatic Payments with Scheduled Transactions
Some personal finance software packages also give you the alternative of having scheduled transactions automatically enter into your register, this is especially useful if you have automatic payments set up with any payees.
Scheduled Transaction Types and Frequency
Depending on your personal finance software features, scheduled transactions can include payments, dividends, transfers, non-wage and non-salary income, and interest. The frequency for which you can set up scheduled transactions is generally weekly, every two weeks, monthly, quarterly, semi-annually and yearly. Your personal finance software may give you more options for scheduling transactions.
Also see: Scheduled Transactions in Quicken.
