Overview
One of the key benefits of Simplifi is the ability to create Recurring Transactions to help you stay on top of your expected bills and income. But that’s not all! Simplifi can also project what your account balances will be before and after based on the Recurring Transactions you’ve created.
How Does it Work?
As you download transactions, Simplifi searches for matches to your Recurring items and is designed to match transactions within a certain variance. You can see any Recurring Reminder that has yet to be matched in the Upcoming view at the top of your account registers, or in the Upcoming section.
While we've worked hard to ensure that Simplifi's matching capabilities are top-notch, there may be times that Simplifi doesn't match correctly. If you find a transaction downloaded, but the matching Recurring Reminder still shows "Past," you'll need to manually match your transaction:
Locate the "Past" Reminder and click on it.
Select Link to Transaction.
Locate the transaction you'd like to link and click on it.
Click Apply.
Once linked, Simplifi will remove the Recurring Reminder from the Upcoming view and match it to the downloaded transaction. Linking transactions will also increase the odds that it will match correctly next time!
Managing Your Recurring Transactions
You can access and manage all of your Recurring Transaction Series by selecting Settings from the Menu icon, and then selecting Recurring Series. If you only want to see the next 30 days of Recurring Transaction Reminders, you can do so through the Upcoming section.
Create a Recurring Transaction
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Recurring Series.
Click the blue plus (+) button in the bottom right.
Locate the transaction you'd like to make recurring and select it; Simplifi will create a monthly Recurring Transaction using the Date, Payee, and Amount of the selected transaction. Note: If you need to make changes to the pre-filled data, you may do so by editing the Recurring Series.
If you're unable to locate the Transaction that you'd like to make Recurring, you can select Couldn't find? Add Manually. Be sure to complete all required fields and click Save to create the Recurring Transaction Series.
You can also create a Recurring Transaction through the Transaction View:
Click the Menu icon (the three lines in the upper left corner).
Select Accounts.
Select the account that has the transaction you'd like to make recurring.
Locate the transaction you'd like to make recurring and click on it.
Use the Is a Bill, Recurring Income, or Recurring Transfer toggle, whichever applies.
Select New recurring bill, New recurring income, or New recurring transfer, whichever applies.
Ensure that the pre-filled data is correct and make any changes that are needed.
Click Create when done.
When going through the Transaction View to create a Recurring Transaction, you'll be given a few different options:
One time bill – Marking a transaction as one-time doesn’t create a Recurring Transaction, but it does ensure that this transaction is included in the Bills total of the Spending Plan.
New recurring – Simplifi will create a monthly Recurring Transaction Series for the same Payee, Date, Category, and Amount of the transaction; you'll be given the opportunity to make adjustments before saving.
Assign to existing – This option is useful when a downloaded transaction didn’t properly match to a Recurring Reminder. Selecting this option will allow you to link the transaction to the Reminder, and will also increase the odds that it will match correctly next time.
Edit a Recurring Transaction
You can edit a specific instance of a Recurring Transaction (Reminder) through the Upcoming view at the top of your register:
Click the Menu icon (the three lines in the upper left corner).
Select Accounts.
Select the account that has the Reminder you'd like to edit.
Locate the Reminder you'd like to edit and click on it.
Select Edit Reminder.
Make the necessary changes and click Update when done.
If you need to make edits to an entire Recurring Series, you can do so through the Recurring Series section:
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Recurring Series.
Locate the Recurring Transaction you'd like to edit and click the three dots at the end of it.
Select Edit Series.
Make the necessary changes and click Save when done.
Delete a Recurring Transaction
You can delete a specific instance of a Recurring Transaction (Reminder) through the Upcoming view at the top of your register:
Click the Menu icon (the three lines in the upper left corner).
Select Accounts.
Select the account that has the Reminder you'd like to delete.
Locate the Reminder you'd like to delete and click on it.
Select Delete Reminder.
Click Delete to confirm.
If you need to delete an entire Recurring Series, you can do so through the Recurring Series section:
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Recurring Series.
Locate the Recurring Transaction you'd like to delete and click the three dots at the end of it.
Select Delete Series.
Click Delete to confirm.
End a Recurring Transaction
You can also End a Recurring Transaction Series by selecting End Series from the three-dot menu, and then selecting End Series to confirm. This is a great option to use for loans that have been paid off, or for services that you're no longer using, etc, as you can still keep the historical data for the Recurring Series, but it will no longer be active.
Note: Ending a Recurring Transaction Series cannot be undone.
Note: Over time, Simplifi will learn more and more about your Recurring Transactions, meaning less work for you in the future!
Frequently Asked Questions
Learn the answers to frequently asked questions for this topic!
What's the difference between Bills and Subscriptions?
When it comes to Bills versus Subscriptions, it's entirely up to you! However, we have some suggested uses available in our Support Article here.
What do the colored icons for Reminders mean?
The different colored Reminders make it super easy to determine what each item is for, such as blue for a Bill and green for Income. Check out our Support Article here for more details!
How do I skip a Recurring Reminder?
Currently, the best way to skip an instance of a Recurring Reminder is to delete that specific Reminder from the Upcoming view. Find out more here!
How do I enter a Bill for a prior month?
When creating a new Recurring Series through the Settings menu, Simplifi will only allow you to select the current or a future date. However, you can create a Bill for a past month from the transaction directly!
To do so, you'll want to select the transaction from the prior month and then use the Is a Bill? toggle. From here, you can either select New recurring bill or One time bill, whichever applies. Once done, the Bill will be entered for the prior month!
To learn about Recurring Transactions on the Simplifi Web App, please click here!