Scheduled Payments - How do they work?

This is on Neon.

Can anyone explain how scheduled payments work as I am confused ….

For example, I have two scheduled payments set-up as Monthly due 18th June. On the 18th, both these payments show as complete and against the correct account (when accessed from the list of Completed Scheduled Payments) but there is no matching entry in the transaction list.

The next day the transactions are imported (but imported with the wrong category as rules don’t seem to work) but there is no connection between the imported transaction and the Scheduled Payment (proven as they are in a different category).

Shouldn’t MoneyDashboard match the Scheduled Payment to the transaction before marking the Payment as complete?

It seems that Scheduled Payments are just calendar-type reminders that automatically complete on their date. Is this right ?

If so, surely there is a risk that if a Scheduled Payment is not processed by the Bank, the Scheduled Payment is automatically marked complete and rescheduled to the next month; and you would never know that the payment has been missed?

Hopefully someone can explain how this all works



Can anyone explain this?

Yes I have noticed this too. There seems to be no link made by MoneyDashboard to check if scheduled payments are made or not, and are auto “completed”.

I have a fortnightly incoming payment that I have scheduled to keep track of. However, the last two months I’ve not received this payment (which is correct), but the Scheduled payments show that they occurred and have been completed, even though no payments took place. What’s more annoying is I can’t seem to remove single instances of the schedule without deleting them all.

Another example is my internet bill, which last month increased price. In an ideal world, the scheduled payments would have detected this and informed me, or at least updated price in the “completed” scheduled payment.

I must admit I will wait to see how the new release (in the next week or so ?? ) changes this and if it still doesn’t validate the transaction actually happens before completing I will delete all my Scheduled Payments and revert to adding budgets for each one.

That way I can see if the payment isn’t processed as the budget will be underspent - or if the spend has increased as the budget will be overspent; etc.