Setting Recurrence Rules
You can set scheduled transactions or events to repeat based on some very flexible rules. These allow MoneyWell to create transactions or event fills on a regular basis for you.
Common Repeat Rules
MoneyWell gives you 14 common repeat rules to use directly from the pop-up list:
- Every day
- Every week
- Every 2 weeks
- Every 3 weeks
- Every 4 weeks
- Every month
- Every month on the 15th and the 31st
- Every month on the 1st and the 15th
- Every month on the 1st and the 16th
- Every 2 months
- Every 3 months
- Every 6 months
- Every year
- Every 2 years
Custom Repeat Rules
If you need a more unique repeat rule, choose "Custom…" from the pop-up menu and MoneyWell gives you many more choices:
- Daily - Set the every count to greater than one to repeat every two or more days.
- Weekly - Set the every count to greater than one to repeat every two or more weeks. You also have a day selector to choose one or more of the days of the week to recur. You could have an event happen every two weeks on a Friday or every week on Monday, Wednesday, and Saturday.
- Monthly - Set the every count to greater than one to repeat every two or more months. You also have a day of the month selector to choose one or more days of the month to recur. This allows you to repeat an event monthly on the first and the fifteenth. Optionally, you have a "On the" choice to pick the first, second, third, fourth, or last type of day of the month. This lets you recur on the last weekday or the second Saturday of each month.
- Yearly - Set the every count to greater than one to repeat every two or more years. You can also choose to have the event recur in one or more months of the year. There is also a "On the" choice similar to the monthly repeat.
If you add a custom rule, it will appear in the common list for use with other events and scheduled transactions.
When Do Repeats Start
Your recurring events or transactions start on the date of that event. If the event date falls on a Friday and you tell MoneyWell to repeat that event every two weeks on a Friday, then the first occurrence will be on the date of the event. If instead you chose the repeat to happen every two weeks on a Monday, then the first Monday after the event date will be the first time it occurs.
If you pick one of the every repeat rules, then the date of the event determines the day of the week, day of month, or date of the year for the recurrence. Setting an event to happen on July 4 and repeat yearly will create an annual July 4 event. Monthly events with a date of March 15, 2012 will happen on that date and then every month after that on the fifteenth.
When Do Repeats End
By default, the "Ends" value is set to "Never Ends" on repeating events and transactions. Optionally, you can tell MoneyWell to end the repeat process after a number of times or on a date. MoneyWell will repeat the event from the date of the event until the number of occurrences is met or the end date is hit.
Here are some common repeat problems that you should try to avoid:
- Monthly repeat dates later than the 28th day of the month. Since not every month has more than 28 days, it's a bad idea to try to repeat on that date. This situation can occur if your event date is set to January 31, 2012 and you set a basic repeat of "Every Month". A better option is to set a custom repeat for the "last day" of the month.