Mayday

Mayday is a month-end close platform for finance teams working in Xero, QuickBooks Online or Intuit Enterprise Suite. It is best suited to larger, multi-entity businesses and accountancy firms that need structured adjustment review and journal posting. Its modular approach can address specific close tasks, but QuickBooks Online users face meaningful product restrictions.

Overview

Mayday links error checks, adjustment calculations, approval and journal posting in a single close workflow. It identifies missing or incorrect entries, prepares adjustments for review, and posts approved journals to Xero or QuickBooks. That connected process is useful for teams looking to control the path from identifying a problem to recording its correction; it is less compelling if the accounting platform or workflow falls outside Mayday’s supported scope.

The product suite includes Flux, Prepayments, Accruals, Deferred Revenue, Balancer, Mayday HQ, BRAG and Recharger. Mayday AIR suggests actions using accounting principles and business context. The maker says it does not use private customer data to train AIR without permission. Security measures include encryption in transit and at rest, role-based access controls, 24/7 infrastructure monitoring, and SSO and MFA via Xero and Intuit. Mayday runs on AWS, with storage and processing in its London region, and says it complies with UK/EU GDPR requirements and aligns privacy practices with the Australian Privacy Principles.

Key features

Review, approvals and posting

Mayday’s central strength is the sequence from identifying suspect entries to calculating adjustments, getting approval and posting journals. Approval workflows, audit trails and recurring templates support a more controlled close, while multi-entity close is relevant to businesses managing accounts across entities. These capabilities suit finance teams that need repeatable review rather than a tool limited to basic task tracking.

Modular close tools

The separate modules cover variance analysis, accruals, prepayments, deferred revenue, intercompany balances and recharges. Flux includes P&L variance analysis, AI commentary, review and approval, and an audit trail. Accrued Costs and Accrued Revenue offer ad-hoc and recurring accruals with AIR predictions; their prices scale with the number of entities. Prepayments and Deferred Revenue provide schedules and one-click posting to Xero or QBO, with entity-based pricing. The value of this modularity depends on choosing the right module and checking platform limitations before purchase.

Intercompany and recharges

Basic is capped at three same-currency intercompany balances. Passive raises that to unlimited balances and adds FX adjustments, interest and downloadable reports. Recharger Lite is aimed at teams with few inter-departmental transactions and shows three recharge rules; Active includes unlimited recharge rules, AR/AP matching, unlimited BRAG transactions and Mayday HQ access. These tiers draw a practical line between a small, simple intercompany need and a more involved finance operation.

Pricing

Mayday uses a freemium, modular pricing model. Basic costs £0 per month and includes three same-currency intercompany balances, unlimited users and live-chat support. It is a useful starting point for a small team with modest intercompany needs, but the balance cap makes it unsuitable as those operations grow.

Flux, Accrued Costs, Advanced, Prepayments, Recharger Lite, Active, Deferred Revenue, Passive and Accrued Revenue are each shown at £10 per month. Entity-based pricing applies to Accrued Costs, Prepayments, Deferred Revenue and Accrued Revenue, so the displayed monthly figure is not the full cost for every multi-entity buyer. Advanced includes everything from Active, bespoke rule creation, two-hour tailored onboarding and a dedicated account manager. The plan descriptions use different module names and scopes, so buyers should confirm the package contents they need before choosing.

Mayday’s pricing note also gives paid pricing from £12.50/mo (annual). That is the stated annual-term entry point; compare it with the module prices and entity-based terms when budgeting. A 30-day free trial does not require payment card details. In-app support chat receives a personal response within hours, often within minutes, according to the pricing FAQ.

Platforms

Mayday is a web platform that integrates with Xero and QuickBooks Online; Intuit Enterprise Suite is also named as a supported accounting platform. QuickBooks Online has important exceptions: BRAG and Mayday HQ are unavailable, and some Balancer, Recharger, Deferred Revenue and Prepayments functions are limited. A QBO team should verify its required functions before committing to a workflow built around those products.

Mayday says its service is hosted on AWS in the London region. SSO and MFA are provided via Xero and Intuit, alongside encryption, role-based access and infrastructure monitoring.

Who it's for

Mayday is a strong fit for finance teams already using a supported accounting platform that need a structured month-end process, especially larger businesses managing several entities. Accountancy firms are also in scope through Bureau plans. Basic can suit smaller teams testing a narrow intercompany workflow, while the paid modules target teams that need specific schedules, analysis or recharge processes. It is a weaker fit for QuickBooks Online users whose work depends on BRAG, Mayday HQ or affected product functions.

Pros and cons

Pros

• Connected adjustment workflow: Finding issues, calculating adjustments, approving them and posting journals are linked in one process.
• Modular coverage: Teams can select tools for particular close needs, from variance analysis to revenue schedules and recharges.
• Low-cost entry point: Basic is free, and the trial lasts 30 days without requiring card details.
• Useful controls for larger teams: Approval workflows, audit trails, multi-entity close and unlimited users on several plans support a more structured operation.
• Defined security and hosting approach: Mayday describes encryption, access controls, monitoring and London-region AWS hosting.

Cons

• Free plan is narrow: Three same-currency balances limit Basic’s usefulness for growing or more complex intercompany operations.
• Platform restrictions matter: QBO users lose access to BRAG and Mayday HQ and face limits on some other module functions.
• Costs can vary with entity count: Four modules scale their price by the number of entities, complicating budgets for multi-entity customers.
• Module choice requires care: The suite’s task-specific plans mean buyers need to match the package to their workflow rather than assume every function is bundled.

Alternatives

Financial Close Software is a broader category to compare if Mayday’s accounting-platform focus or module structure does not match your close process. For a narrower intercompany comparison, see Intercompany Accounting Software.

novacly may suit teams seeking a free beta with full platform access, unlimited usage and multi-entity support. OneStream is a paid platform with a wider range of listed deployment and device platforms; request a demo to discuss pricing. Nordavix offers a free founding-firms beta with unlimited companies, team seats and modules.

FIS Data Integrity Manager is a paid web alternative without a free plan. Double is another paid option, with a free trial and an annual flat-rate plan for internal finance teams; contact sales for pricing. Eagl and Stacks Financial Close are paid web alternatives.

Verdict

Choose Mayday if your finance team uses Xero, QuickBooks Online or Intuit Enterprise Suite and needs a controlled month-end workflow for reviewing adjustments and posting journals. Its modular coverage, approvals and multi-entity capabilities make it most persuasive for larger businesses and accountancy firms with defined close processes. Look elsewhere if you need unrestricted QuickBooks Online functionality, or if your intercompany needs already exceed Basic’s three same-currency balance cap and the paid modules do not fit your budget.