My Memo Tags for Recurring Payments

I thought I'd share my little system for tagging recurring payment, using the memo field.  This reduces my stress when looking at my upcoming payments (Scheduled Transactions).

  • "(auto)" - payment is automatic but never changes; no need to do anything.
  • "(auto) month" - payment is automatic but varies.  When I get my bill or statement I just update the payment amount and update the month.  The month is the month in which the payment is applied.
  • "month" - payment is not automatic, this means  I need to log in and manually make a payment (or send a check).  I update the amount and month.

With this system I can quickly look through my Scheduled Transactions and quickly check that all my payments are up-to-date.  If any of them have an old month I know that I missed something.

Maybe this will help someone else!  I've attached a screenshot as an example.

-Steve

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  • That's very helpful!

    Do you make a change to the memo for the "month" ones after you have manually made the payment or sent a check?

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    • Turquoise Boa Yep, as soon as I send in the payment (digital or paper) I update the month... and amount if necessary.  It really is just a system to make sure I've taken care of any payments or at least updated the amount if they vary.  It also is a good way to know when I haven't gotten a bill... it's happened here or there!

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  • I have developed a system using Flags for recurring transactions (blue) and recurring transfers (purple) that really helps to "spot" the unusual transactions vs the expected transactions.  Sometimes the color flags do not seem to come through on recurring transactions but mostly it works as expected.

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      • Digital Diva
      • Go Go Gadget!
      • digitaldiva
      • 11 mths ago
      • Reported - view

      Silver General I like using the flags idea. I have the date of the month + (a) in the actual category title for automatic transactions, so the addition of the flag colors will help the other transactions stand out. I like that the flags appear in the app.

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  • I have the date and (a) to indicate an automatic transaction in the actual name of the category. Does the memo field appear on the app? Moving auto there would make the names shorter.

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