How to update Room database on specific day in background?

I'm working on a financial app in Android that has salary as an income asset. The user selects which day they are getting paid on and to which account. I want to update the account on Room database in background on that date and issue a notification. Is Alarm Manager the right tool for this?

Or should I just make the calculation on app launch (e.g. on splash screen) , before showing the account's?