A Better Way to Manage Your Everyday Money - Book - Page 87
lead time and late fees are avoided regardless of whether or not a due date falls on a weekend or
holiday.
When bill payments are due
Bill payments for regular bills are normally scheduled on some form of monthly schedule.
Changes to a monthly due date are typically the result of a due date falling on either a Saturday,
Sunday, or holiday. When that happens, the due day might be moved to either the preceding or
following workday. PerNetFlow makes this adjustment automatically.
Regular bill payment due dates are typically scheduled on the same day:
●
●
●
●
●
each month
once a quarter (every three months)
semi-annually (every six months)
annually (every one or more years)
every so many months
Making regular deposits into investment or other long-term saving vehicles are also typically
made on some type of monthly schedule.
One online payment
There will be unexpected bill payments that have to be paid immediately instead of waiting for
the next scheduled date for paying bills. When such a bill is paid online, with the money being
electronically withdrawn from the cashflow space's checking account either with a cash transfer
or by check through bill pay, the bill payment is entered in PerNetFlow as one online payment.
The money for a one online bill payment is first deducted from the bill's ledger and then, if more
is needed, from the Unallocated ledger. Any money in a sinking fund or saving ledger to which
the bill may be linked is not used.
77
