Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
A payment of $1.99 per month usually indicates that is for a subscription to Microsoft 365 Basic for 100GB of extra storage on OneDrive.
Log into your Microsoft account on this link, do you find the subscription listed there, if not, click the Bolling icon on the left, are you able to find the payment listed there.
https://account.microsoft.com/services/
If you are unable to find the subscription, using any Microsoft account you may have, try using the steps they provide on this link to find out what that payment was for.