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A 'Monthly' schedule starts at a specific date and time, and can be configured to run on either specific day numbers or on Nth days of selected months.
A 'Monthly' schedule can also be set to repeat at a customisable rate until a specific time on each day it is triggered.
The 'Expire' property can be used to make the schedule inactive once a certain date and time is reached.

To run the first of every second month, the schedule would be configured to 'Days' mode and have the number '1' ticked, as well as every second month ticked (JAN, MAR, MAY, JUL, SEP, NOV).

To run the first Monday of every month, the schedule would be configured to 'On' mode and have 'First' and 'Monday' ticked with each month selected.