Planned Payments work similarly to normal Records, but with one difference: they are repeated at fixed time intervals.
You can create a new Planned Payment from the Financial Plan from Menu - Planned Payments (Android).
You can choose from these payment frequencies:
- One time
- Recurrent payment
In the detail screen additional information can be entered (category, account, amount, etc.).
If the Planned Payment is approved, the transaction appears as a regular Record in Overview.
If you set up a Planned Payment on a specific day of the month (eg. 31st) and the month does not include this day, the Planned Payment will be skipped. Adjusting for "the last day of the month" is not yet supported.
If your Planned Payment is set up to automatic, it will still give you an option to confirm it in case you would like to do it manually earlier than its setup date. It doesn't mean it's not automatic.
You can add the card 'Upcoming Planned payments' in the Accounts section at the Home page of Board to easily stay informed about your Planned Payments.
Adding an Order to your planned payment will automate it so that it repeats at the specific interval set up in the Planned Payment.
1. Open Financial Plan from the dashboard
2. Tap on Planned Payments
3. Create your Planned Payment
Options when creating your Planned Payment:
- First you must specify if the Planned Payment will be an expense or an income
- Payment name - Choose a title for your template
- Account - Can only choose manual accounts
- Category - Assign a category to your template
- Contact - Associate a Contact with your Planned Payment
- Order - Associate an Order with your Planned Payment
- Confirmation - Set up a Manual (upcoming payment will wait for your approval) or Automatic (payment will be created without your approval) Planned Payment
- Date and Repeat - Select the specific date at which the payment will happen as well as the recurrence. If you assign a recurrence to it, you can also specify an end date from the same settings panel
- Payment type - You can select Cash, Debit Card, Credit Card, etc. depending on how this payment will be made
- Labels - Labels help you group together income and expense Records and filter them
- Note - Add a note to your template
You can now see your planned payment and manage your confirmation dates and see the overall amount of plans you have and filter them by All, Income or Expenses.
* While using Board on multiple devices, some of which are NOT online, you may duplicate Records from Planned Payments. Offline devices are unaware that the Records have been generated on another device and may create new Records on their own. We recommend having all devices with the app online in order to avoid duplicating the Records.
* We advise you when creating a planned payment not to set a date in the past but in the present/future so that your planned payments are automated correctly.