Mayday

Mayday is a month-end close platform for finance teams using Xero, QuickBooks Online, or Intuit Enterprise Suite. It is strongest for larger, multi-entity businesses that want controlled adjustment review and journal posting. Its modular plans can target particular close tasks, but QuickBooks Online restrictions and plan-by-plan pricing deserve close scrutiny.

Overview

Mayday takes close work from identifying missing or incorrect entries through calculating adjustments, review and approval, then posting approved journals to Xero or QuickBooks. That connected workflow is useful where finance teams need a clear route from a flagged issue to an approved entry. The suite includes Flux, Prepayments, Accruals, Deferred Revenue, Balancer, Mayday HQ, BRAG, and Recharger, giving buyers several task-specific options rather than a single undifferentiated package.

Mayday AIR suggests actions using accounting principles and business context. The maker says it does not train on private customer data without permission. Mayday runs on AWS, with storage and processing in AWS's London region; it lists encryption in transit and at rest, role-based access controls, 24/7 infrastructure monitoring, and SSO and MFA via Xero and Intuit. It says it complies with UK/EU GDPR requirements and aligns privacy practices with the Australian Privacy Principles.

Key features

Structured close and controls

Approval workflows, audit trails, recurring templates, and multi-entity close support a more governed month-end process than a collection of disconnected adjustments. Teams can review calculated changes before posting, which is a meaningful control when multiple entities are involved. Mayday also offers API connectivity, though the core accounting integrations named are Xero and QuickBooks Online, with Intuit Enterprise Suite also listed as supported.

Modular accounting tasks

Flux provides P&L variance analysis, AI commentary, review, approval, and an audit trail. Accrued Costs and Accrued Revenue cover ad-hoc and recurring accruals with AIR predictions; Prepayments and Deferred Revenue provide schedules and one-click posting to Xero or QBO. These modules suit teams looking to address a specific accounting workload, but the entity-scaled pricing on several plans means the entry price alone may not represent the cost of a multi-entity deployment.

Intercompany options range from Basic, with three same-currency balances, to Passive, with unlimited balances, FX adjustments, interest, downloadable reports, read-only Mayday HQ access, and unlimited users. Active adds AR/AP matching, unlimited recharge rules and BRAG transactions, unlimited Mayday HQ access, and unlimited users. Recharger Lite is narrower, with a few inter-departmental transactions and three recharge rules shown.

QuickBooks Online restrictions

QBO users should confirm their required workflows before choosing a plan: BRAG and Mayday HQ are unavailable, and some Balancer, Recharger, Deferred Revenue, and Prepayments functions are limited. This weakens the case for Mayday when those tools are central to a QBO-based close.

Pricing

Mayday is freemium, with a free plan, paid plans, and a 30-day free trial that does not require card details. The Basic plan is £0/mo and includes three intercompany balances in the same currency, unlimited users, and live-chat support. It is a useful starting point for a small, constrained intercompany use case, but the balance cap and currency restriction make it a poor fit for broader reconciliation.

Flux, Accrued Costs, Advanced, Prepayments, Recharger Lite, Active, Deferred Revenue, Passive, and Accrued Revenue each show £10/mo. The task-specific plans add their respective variance analysis, accrual or schedule features; Accrued Costs, Prepayments, Deferred Revenue, and Accrued Revenue scale in price with the number of entities. Advanced includes everything from Active, bespoke rule creation, two-hour tailored onboarding, and a dedicated account manager. These prices are not the same as the site's general pricing note of paid from £12.50/mo (annual), so buyers should compare the relevant plan and billing terms before budgeting.

The cheaper choices have real scope trade-offs: Basic caps intercompany balances, Recharger Lite shows only three rules, and Passive offers read-only Mayday HQ access rather than Active's unlimited access. Advanced is aimed at teams needing bespoke setup and account support, not buyers seeking only the lowest-cost close tool. In-app support chat receives a personal response within hours, often within minutes.

Platforms

Mayday is web-based. Its accounting workflow is built around Xero and QuickBooks Online, with Intuit Enterprise Suite also identified as a supported platform; the QBO limitations make platform fit a practical selection criterion.

Who it's for

Mayday best suits finance teams in larger, multi-entity businesses that need repeatable close controls and use one of its supported accounting platforms. Its separate modules can also suit teams that want to address a defined area such as accruals, deferred revenue, or intercompany activity. Accountancy firms can consider its Bureau plans. It is less compelling for QBO users dependent on the restricted products, or for buyers who need a single predictable price across entities.

Pros and cons

Pros

• Controlled close workflow: adjustment calculation, approval, audit trail, and journal posting connect review with execution.
• Useful modular coverage: separate plans address variance analysis, accruals, prepayments, deferred revenue, and intercompany work.
• Accessible trial and entry plan: a 30-day trial needs no payment card, and Basic includes unlimited users.
• Defined security posture: London-region AWS storage and processing, encryption, access controls, and infrastructure monitoring support buyers evaluating data handling.

Cons

• QBO feature gaps: BRAG and Mayday HQ are unavailable, with limitations across several other modules.
• Entity-based costs can grow: four plans scale with entity count, complicating comparison for larger groups.
• Basic is tightly capped: three same-currency intercompany balances will not cover many multi-entity needs.
• Pricing needs reconciliation: plan prices of £10/mo sit alongside a general paid-from figure of £12.50/mo (annual).

Alternatives

For broader category browsing, see Financial Close Software and Intercompany Accounting Software.

Nordavix is worth considering for firms that want beta access with unlimited companies, unlimited team seats, and every module at no charge during the beta. novacly offers a free beta with full platform access, unlimited usage, and multi-entity support across web and API, but no free trial. For a platform spanning web, mobile, Windows, API, and self-hosting, consider OneStream; request a demo to discuss pricing.

FIS Data Integrity Manager is another paid web option. Aico Financial Close Platform uses custom pricing tailored to enterprise needs and scale. Eagl is a paid web alternative, as is Stacks Financial Close.

Verdict

Choose Mayday when your finance team needs a structured month-end close across entities and works with Xero, QuickBooks Online, or Intuit Enterprise Suite. Its approval-to-posting workflow and focused modules are the strongest reasons to shortlist it. Look elsewhere if QBO restrictions block core tasks, or if entity-scaled costs and the difference between plan prices and the annual starting-price note make budgeting uncertain.