Overview

Simplifi's Recurring Transactions feature makes organizing all your bills and subscriptions a piece of cake! Recurring Transactions are your expected bills and income; when you connect your banks for the first time, Simplifi quickly analyzes your transactions and compiles a list of your bills and income, along with the frequency of each one.

Recurring Transactions give Simplifi the ability to predict your future balance, and can take place weekly, bi-weekly, monthly, or quarterly, so you can stay on top of your bills and have enough left over for the things you enjoy!

How does it work?

As you download transactions, Simplifi searches for matches to your Recurring and is designed to match transactions within a certain variance. You can see any Recurring Transaction that has yet to be matched in the Calendar view at the top of your account registers.

Seeing the status of your Recurring Transactions

There are three statues Simplifi uses for Recurring Transactions in your account; Upcoming, Due, and Waiting:

  1. Upcoming – Recurring Transactions in this status are future dated. Transactions will update from Upcoming to Due on the Recurring Transaction’s due date.
  2. Due – This status indicates the Recurring Transaction is currently due. The Recurring Transaction status will be updated to Waiting if a match is not downloaded by the following day.
  3. Waiting – This indicates the transaction due date has passed, but the transaction hasn’t been downloaded into Simplifi yet.

While we've worked hard to ensure Simplifi's matching capabilities are top-notch, there may be times Simplifi doesn't match correctly. If you find a transaction downloaded, but the matching Recurring Transaction still shows "Waiting," you'll need to manually match your transaction:

  1. Click Waiting.
  2. Select Link to Transaction
  3. Select the matching transaction and click Match to confirm.

Simplifi will remove the Recurring Transaction from the calendar view and match it to the downloaded transaction. Linking transactions also increases the odds that it will match correctly next time. 

Managing all your Recurring Transactions

To access the see and update all your Recurring Transactions area, rather than just one instance, hover over the left side panel and select Manage, then click 

Create a Recurring Transaction:

Do you have a Recurring Transaction that Simplifi didn’t find? No problem! You can create Recurring Transactions right through the Recurring Tab:

  1. Hover over the menu on the left-hand side and click Manage.
  2. Select Recurring.
  3. Click the + Add button.
  4. Select the transaction you wish to make Recurring from the list provided and click Create.
  5. If you are unable to locate the Recurring Transaction, click Add Manually.
  6. Complete all required fields in the Add New Series area or, if you successfully located the transaction in step 4, ensure the pre-filled data is correct.
  7. Click Create to save the Recurring Transaction.

You can also create Recurring Transactions through the Transaction View:

  1. Hover over the menu on the left-hand side and click Transactions.
  2. Locate the transaction you’d like to mark as Recurring. 
  3. Then click the drop-down arrow to the right of the dollar amount.

You’ll be given a toggle switch to customize the transaction. When you toggle the switch on, you'll be given several different options: 

For a Recurring Bill

  1. One Time Bill – Marking a transaction as a One Time Bill doesn’t create a Recurring Transaction, but it does ensure this transaction is included in the Bills and Subscription totals on the Spending Plan.
  2. New Recurring Bill – Simplifi will create a monthly recurring transaction for the same payee, date, and amount of the transaction.
  3. Assign to Existing Bill –This option is useful when a downloaded transaction didn’t properly match to a Recurring Transaction. Selecting this option and matching the transaction to the existing Recurring Transaction will increase the odds that it will match correctly next time.

For Recurring Income: 

  1. New Recurring Income - Simplifi will create a monthly recurring transaction for the same payee, date, and amount of the currently selected transactions. 
  2. Assign to Existing Income – Assigning this transaction to an existing income will link the selected transaction to an already created Recurring Transaction. This option is useful when a downloaded transaction didn’t properly Match match to a Recurring Transaction. Selecting this option can helpwill increase the odds that the next occurrence will match properly. it will match correctly next time.

Edit a Recurring Transaction:

  1. Hover over the menu on the left-hand side and click Manage.
  2. Select Recurring.
  3. Locate the Recurring Transaction you’d like to Edit.
  4. In the Edit Recurrence view, make the necessary changes. 
  5. Click Update to save your changes.

Delete a Recurring Transaction:

  1. Hover over the menu on the left-hand side and click Manage.
  2. Select Recurring.
  3. Locate the Recurring Transaction you’d like to Delete.
  4. In the Edit Recurrence screen, select the Trash Can icon at the bottom left.

Over time, Simplifi will learn more and more about your Recurring Transactions, meaning less work for you in the future.

Did this answer your question?