Mayday automates month‑end finance workflows for Xero and QuickBooks users by using AI to identify missing or incorrect entries, calculate the required adjustments, and post corrected journals with a single click. The platform centralizes control of chart of accounts, intercompany loans, cost/revenue recharges, and other adjustments, eliminating manual spreadsheet work and reducing errors for finance teams managing multiple entities.
Funding
$1.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FFFounders
Product
Problem
Finance teams spend extensive time each month manually reconciling transactions, creating intercompany adjustments, and generating journal entries across multiple accounting systems, leading to errors, spreadsheet fatigue, and delayed reporting.
Solution
Mayday automates the entire month‑end workflow by identifying missing or incorrect entries, calculating the necessary adjustments, and posting corrected journals to Xero or QuickBooks with a single click. Its AI‑powered inbox scans transactions, applies customizable rules for intercompany loans, cost/revenue recharges, bank reconciliations, deferred revenue, and prepayments, and surfaces discrepancies for quick review. Users approve the suggested adjustments and Mayday posts them instantly, eliminating manual spreadsheet work and reducing the risk of errors. The platform also provides a central control panel (Mayday HQ) for managing chart of accounts and tracking categories across all entities, delivering group‑wide visibility and consistency. All features are delivered through a cloud service with 24/7 support, a free trial, and a concierge onboarding process to ensure rapid adoption.
Target Audience
Mayday is designed for finance teams in mid‑size to large organisations that manage multiple entities in Xero or QuickBooks, including CFOs, finance directors, and accountants responsible for month‑end close and intercompany processes.
Features
- AI‑driven identification of missing or incorrect entries across bookkeeping, accounting, and reporting layers
- Automated calculation of intercompany loan, FX, interest, cost/revenue recharge, deferred revenue, and prepayment adjustments
- One‑click posting of corrected journals, invoices, bills, or recharges directly to Xero or QuickBooks Online
- Browser extension (BRAG) that integrates with Xero’s bank reconciliation screen to match inter‑entity transactions
- Centralized dashboard (Mayday HQ) for real‑time management of chart of accounts and tracking categories across multiple entities
- Custom rule engine for personalized automation of recharges, revenue schedules, and prepayment amortisation
- 24/7 help centre, live chat, and dedicated concierge onboarding calls for guided implementation