Regular payments and savings

If you have recurring payments such as a monthly insurance premium, you can set up repeating pending payments to speed up your bookkeeping.

Create repeating payments

The regular payments and savings feature is 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 can be an approximate), the payee and category. You can 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 budgeting for large annual payments such as an annual savings goal. 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.