Use it when the good deed is fresh and just completed, implying it's part of daily moral behavior. You returned her lost wallet? That's your good deed for the day!
Pro Tip 2/3
Slightly Informal
The phrase has a friendly tone, suitable for casual conversation rather than formal communication. Buying lunch for a homeless person? That'll be your good deed for the day.
Pro Tip 3/3
Praise or Prompt
Can be used to praise someone's action or to suggest they've met a moral quota. Thanks for helping me study, you've done your good deed for the day!