Regular payments and savings

Regular payments and savings

If you have a number of frequent transactions on your bank statement, for example a mobile phone contract, you can use the Provestor 'regular payments and savings' to set up recurring transactions in order to simplify your bookkeeping.

Create repeating payments

You access Regular payments and savings via in the Taxes & accounts area. Click on the New payment button to create a new repeating payment.

Enter the details of the payment, including the due date of the next payment, the amount (it’s OK to enter an estimate here), the payee and the category. You can also set payments to repeat – for example monthly outgoings such as phone bills, or annual fees such as insurance premiums and professional memberships.

Once you’ve created a payment it will appear both on the company homepage and in bookkeeping as a pending payment. 

Budgeting for large payments

Regular payments & savings also allows you to budget for large annual payments like pension payments or even savings goals. When creating the payment, set the repeating payment option to 1 year and check the auto budget check box.

Provestor will now calculate how much cash to set aside each month in order to achieve this payment. You will see a preview of Provestor's calculation on the Regular payments & savings page and it is also included in your LiveCash summary on your dashboard.



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