Recurring Transactions

What Are Recurring Transactions?

Recurring transactions are templates for transactions that happen on a regular schedule. They don't automatically add to your account - instead, they remind you to add them manually.

Perfect for:

• Subscriptions - Netflix, Spotify, gym membership, software
• Bills - Rent, utilities, phone, internet, insurance
• Paychecks - Salary, freelance retainers
• Debt Payments - Student loans, car payments, credit cards
• Transfers - Automatic savings, investment contributions

Creating a Recurring Transaction

Let's set up a recurring transaction for Netflix.

To create a recurring transaction:

1. Click Recurring in the navigation
2. Click Add Recurring Transaction
3. Enter a descriptive name (e.g., "Netflix Subscription")
4. Select the account it comes from
5. Select the category
6. Choose the transaction type (Income, Expense, or Transfer)
7. Enter the amount
8. Choose the frequency (more on this below)
9. Set the start date (when is the first occurrence?)
10. Optionally add a description
11. Click Create Recurring Transaction

Frequency Options

HOB supports several recurring frequencies to match your bills and income.

Using Recurring Transactions

Once you've created recurring transactions, using them is easy.

When a recurring transaction is due:

1. Go to the Recurring page
2. You'll see upcoming transactions in the "Due Soon" section
3. When the transaction actually happens (check clears, subscription charges), click Add Transaction
4. Verify the amount is correct (it might have changed!)
5. Click Confirm to add it to your transactions
6. The next occurrence is automatically scheduled

Editing Recurring Transactions

Prices change, accounts change, subscriptions get cancelled. Updating recurring transactions is simple.

To edit a recurring transaction:

1. Go to Recurring
2. Find the transaction in the list
3. Click on it
4. Click Edit
5. Make your changes (amount, account, category, etc.)
6. Click Save Changes

Common edits:

• Amount changed: Netflix raised prices? Update the amount.
• Account changed: Switched credit cards? Update the account.
• Frequency changed: Gym went from monthly to annual? Update the frequency.

Deleting Recurring Transactions

Cancelled a subscription? Paid off a loan? You can delete recurring transactions you no longer need.

To delete a recurring transaction:

1. Go to Recurring
2. Find the transaction in the list
3. Click on it
4. Click Delete Recurring Transaction
5. Confirm the deletion

Skipping a Recurring Transaction

Need to skip just one occurrence without deleting the whole recurring transaction? You can manually skip it.

When to skip:

• Gym closed for renovation: Skip this month's membership charge
• Paused subscription: Netflix on hold while traveling, skip a few months
• Skipped a paycheck: Took unpaid time off, skip that paycheck
• One-time cancellation: Forgot to cancel before the charge, skip and then delete

To skip an occurrence:

1. When the recurring transaction appears in "Due Soon"
2. Simply don't click "Add Transaction"
3. It will disappear from the list after the due date passes
4. The next occurrence will appear on schedule

Best Practices

Use descriptive names:

"Netflix Subscription" is better than just "Netflix". "Chase Freedom Payment" is better than "Credit Card". You'll thank yourself when you have 20 recurring transactions.

Set them up as you encounter them:

Don't try to add all your recurring transactions at once. As bills and paychecks come up, add them to recurring. After 2-3 months, you'll have captured everything naturally.

Review quarterly:

Every 3 months, review your recurring list. Cancel subscriptions you're not using. Update amounts that have changed. Delete reminders for bills you've paid off.

Don't over-automate:

Only create recurring transactions for truly predictable expenses. If your water bill varies wildly ($30-$150), just add it manually each month rather than creating a recurring template.

Examples of Good Recurring Transactions

Quick Tips

• 🔄 Only for predictable amounts: If it changes every month, skip recurring
• 📅 Add as you go: Don't try to set up everything at once
• ✅ Still manual entry: Recurring just pre-fills - you still click to add
• 💰 Verify amounts: Even recurring transactions can change - always check before adding
• ⏭️ Skip when needed: Just don't add it that month - no formal skip button needed
• 🧹 Clean house quarterly: Review and remove unused recurring transactions
• 📝 Good names matter: "Netflix Standard Plan" > "Entertainment"

Next Steps

Make your budgeting even easier:

• Adding Transactions - Learn the basics before setting up recurring
• Budget Basics - Budget for your recurring expenses
• Budget Rollover - Handle variable recurring expenses smoothly