Monthly cadence by specific date
K
Kim Olson
My company pays me twice a month - on the 10th and on the 25th of each month. The amount I get paid is different for each. If these dates fall on a weekend or on a Monday (when the banks will not process transactions until the following business day), they pay on the Friday prior to these days.
It would be great if there was a choice on the recurring menu to choose a specific date, and have the option of requesting X days prior to that date that matches the payee name. Right now because I only have bimonthly, the dates don't always match and the items are not applied correctly.
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Din from Lunch Money
Hey everyone! 👋
The way Recurring Items work is that when they are set up with a specific anchor date, an associated Recurring Rule is then automatically created on the Rules page with the day criteria looking for matching transactions up to two days before and two days after that anchor date. This is done by default to cover for any cases where the transaction doesn't occur on the exact date.
That said, you can adjust the Recurring Rule as needed to make sure it covers any possible variations in the date. Here's a direct link to the filtered view of all Recurring Rules: https://my.lunchmoney.app/rules?filter=recurring
Peter: For example, if you have a monthly Recurring Item with anchor date on the 1th, the associated Recurring Rule will check for transactions that took place between day 30 and day 3. If your transactions don't always trigger the rule and don't get linked to the Recurring Item, you can go to the Rules page and revise the Recurring Rule to change that range to look for transactions taking place ever a few days later (eg. between day 30 and day 6).
Kim Olson: For Recurring Items that occur more than once per month (eg. twice a month), the Recurring Rule will only account for the one anchor date at the moment. There is a separate ticket that you can upvote here to get that changed: https://feedback.lunchmoney.app/bugs/p/recurring-rule-for-twice-a-month-items-only-covers-anchor-date
At the moment, if you have a twice a month Recurring Item with anchor date on the 10th, the Recurring Rule will be looking for transactions matching anywhere between the 8th and 12th of the month. In this case, you should go to the Rules page and edit the Recuring Rule to change the date range. You can set it to look for transactions occurring any day of the month (1st to the 31st). Considering that the criteria for the payee, amount and the account are unique, then changing the day criteria shouldn't lead to any unwanted transactions getting linked to the Recurring Item.
Could you please confirm if adjusting the Recurring Rule resolves this for you? 🙂
P
Peter
Although the new recurring feature is a big improvement, I still see room for further enhancement :-) My mortgage is directly debited on the first day of the month. If the first falls on a weekend, my mortgage company moves the direct debit date to the next business day. Could you include an option to move the payment date for a recurring transaction to the first business day if the expected payment date falls on a weekend? A simple toggle button would do the job :-)