There is a whole new section launching today in Monarch called Recurring. The new recurring section scans your transactions and finds any bills or subscriptions that happen on a regular frequency. This can be everything from mortgage payments, rent, utilities, insurance, memberships, donations, subscriptions etc. It even works for transactions beyond expenses like your paycheck or scheduled transfers to invest or save.With this new section comes lots of additional features related to it:
- A new monthly calendar view to plot out upcoming transactions for the current month
- Confirm when a recurring bill or subscription has been paid on the calendar with a green checkmark
- Navigate to future (or past) months to view all recurring transactions in that month
- View a list of all recurring merchants and filter or group by their frequency, category, account or amounts
- Recurring streams are automatically detected when Monarch receives new transactions from your banks or credit cards
- Notification (push or email) 3 days before a recurring transaction is expected
- Trigger a manual scan of your past transactions to find recurring streams
- Manually add a new recurring stream – either from a single transaction or from scratch
- Logos are now shown on transactions – use the defaults or upload your own
- A new merchant management page to manage all merchants – scan for duplicates and merge/delete them
- New system to more accurately cleanup statement text (ie “WHOLEFDSMRKT” → “Whole Foods”)
- Timestamps on the last time a rule changed a transaction (coming soon) to help cleanup old rules that may not be needed with the better logo/merchant name cleanup
We’re labeling this feature as “beta” for now since we’d love feedback on how well it does at detecting your bills and subscriptions. We also are looking to integrate the new recurring section with the cash flow and budget sections so look for future improvements as recurring makes its way into the rest of Monarch.