Overview

Mayday takes close work from identifying missing or incorrect entries through calculating adjustments and routing them for review and approval, then posting approved journals to Xero or QuickBooks. Keeping those steps in one workflow can help teams manage adjustments with a clear approval trail; the payoff depends on whether the relevant modules support their accounting platform.

The product suite includes Flux, Prepayments, Accruals, Deferred Revenue, Balancer, Mayday HQ, BRAG and Recharger. Mayday AIR uses accounting principles and business context to suggest actions. The maker says it does not train on private customer data 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 says its service runs on AWS, with data storage and processing in AWS's London region; it complies with UK/EU GDPR requirements and aligns privacy practices with the Australian Privacy Principles.

Key features

Close adjustments and controls

Identifying entries that need attention, calculating proposed adjustments, and requiring approval before posting gives finance teams a more controlled path from review to journal. Approval workflows and an audit trail are useful for teams that need accountability across a multi-entity close. Recurring templates can support repeatable work, though the specific modules and platform determine which workflows are available.

Modular tools and AI

Flux provides P&L variance analysis, AI commentary, review, approval and an audit trail. Accrued Costs and Accrued Revenue offer ad-hoc and recurring accruals with AIR predictions, while Prepayments and Deferred Revenue provide schedules and one-click posting to Xero or QBO. These modules let teams pay for a particular workflow rather than assume every team needs the whole suite. AIR predictions and suggested actions may help focus review, but they do not replace approval controls.

Intercompany and recharge

Basic covers three same-currency intercompany balances; Passive adds unlimited balances, FX adjustments, interest, downloadable reports and read-only Mayday HQ access. Active includes AR/AP matching, unlimited recharge rules and BRAG transactions, plus unlimited Mayday HQ access. Recharger Lite is positioned for teams with few inter-departmental transactions and shows three recharge rules. This tiering makes transaction volume and the need for HQ access important when selecting a plan.

Pricing

Mayday has a free plan and a 30-day free trial that does not require payment card details. Paid pricing starts at £12.50/mo (annual), while the plan prices below are shown as monthly billed amounts:

Basic: £0/mo, with three intercompany balances in the same currency, unlimited users and live chat support. It suits teams needing a small, narrow intercompany allowance, but excludes the higher-capacity balances and features in paid plans.
Flux: £10/mo for P&L variance analysis, AI commentary, review, approval and an audit trail. It fits teams focused on variance review rather than a broader set of close workflows.
Accrued Costs: £10/mo for ad-hoc and recurring cost accruals with AIR predictions. Price scales with the number of entities, so multi-entity buyers should account for that when comparing costs.
Accrued Revenue: £10/mo for ad-hoc and recurring revenue accruals with AIR predictions; price scales with the number of entities.
Prepayments: £10/mo for prepayment release schedules and one-click posting to Xero or QBO. Price scales with the number of entities.
Deferred Revenue: £10/mo for deferred revenue schedules and one-click posting to Xero or QBO. Price scales with the number of entities.
Recharger Lite: £10/mo for teams with few inter-departmental transactions; three recharge rules are shown.
Passive: £10/mo for unlimited intercompany balances, FX adjustments, interest, downloadable reports, read-only Mayday HQ access and unlimited users.
Active: £10/mo for AR/AP matching, unlimited recharge rules, BRAG transactions, Mayday HQ access and users.
Advanced: £10/mo, with everything from Active, a bespoke rule creation service, two-hour tailored onboarding and a dedicated account manager. It suits buyers who want those additional services alongside Active features.

The stated monthly amounts make individual modules accessible at a low entry price, but entity-based pricing for several plans means the starting amount is not necessarily the whole cost for a larger organization. The plan details do not state a renewal term or seat caps beyond the unlimited-user terms noted above.

Mayday also offers Bureau plans for accountancy firms. Its pricing FAQ says in-app support chat receives a personal response within hours, often within minutes.

Platforms

Mayday is a web platform and supports Xero, QuickBooks Online and Intuit Enterprise Suite. Its workflow posts approved journals to Xero or QuickBooks. QuickBooks Online users face specific gaps: BRAG and Mayday HQ are unavailable, and some Balancer, Recharger, Deferred Revenue and Prepayments functions have limitations. Teams relying on those capabilities should confirm that their required workflows are covered before choosing Mayday.

Who it's for

Mayday is a strong fit for finance teams at larger or multi-entity businesses that use a supported accounting platform and want structured adjustment review, approvals and posting. Its modules also suit teams that need a focused tool for accruals, prepayments, deferred revenue, variance analysis or intercompany work. Accountancy firms can consider its Bureau plans. It is a weaker fit for QuickBooks Online teams whose close process depends on BRAG, Mayday HQ or restricted functions.

Pros and cons

Pros: The workflow connects issue identification, adjustment calculation, approval and journal posting, helping teams keep close work controlled.
Pros: Modular plans target distinct finance tasks, and several include unlimited users, avoiding a per-seat constraint on those plans.
Pros: The 30-day trial requires no payment card, giving teams time to assess fit before subscribing.
Cons: QuickBooks Online lacks BRAG and Mayday HQ, with further limitations across several modules, which can rule it out for teams that need those features.
Cons: Costs for Accrued Costs, Accrued Revenue, Prepayments and Deferred Revenue scale with entity count, complicating budget comparisons for multi-entity organizations.
Cons: Basic limits intercompany balances to three and the same currency, making it a narrow starting point for more complex groups.

Alternatives

Double suits internal finance teams seeking a complete platform with unlimited users and dedicated onboarding. It has no free plan, offers a free trial and uses a sales-contact pricing model.
novacly may suit teams wanting web and API access with a free beta plan that includes full platform access, unlimited usage and multi-entity support.
FIS Data Integrity Manager is another paid web option.
Eagl is another paid web option.
Stacks Financial Close is another paid web option.
Taxilla Financial Close Task Management may suit teams whose needs align with its Essentials plan for up to five entities and 300 close tasks per period, or Growth plan for up to 15 entities and 1,500 close tasks per period.
Aico Financial Close Platform is a web option with custom pricing tailored to enterprise needs and scale.
Financial Close Software and Intercompany Accounting Software are broader category lists for comparing options.

Verdict

Choose Mayday if your finance team uses a supported accounting platform and wants modular month-end tools with approvals and controlled journal posting. Its most compelling advantage is connecting close review to approved adjustments and posting, with plans that can focus on individual workflows. Look elsewhere if your QuickBooks Online process relies on BRAG, Mayday HQ or functions affected by its limitations, or if entity-scaled pricing makes the modules less predictable for your group.

	AccountingHub	Mayday
Free plan	No	Yes
Free trial	Yes	Yes
Paid from	$495/mo	£10/mo
Open source	No	No
Platforms	Web	Web
Free plan	No	Yes
Paid from	495 /mo	—
Reconciliation workflows	Yes	—
Entity limit	100 entities	—

AccountingHub vs Mayday

AccountingHub

Mayday