Everything You Need to Mend Month End

Mayday exists to mend month end. Every product we've built has removed another piece of manual work from month end. Today, we're taking another major step forward with four new enhancements that help finance teams spend less time on manual work and speed up month end.

Meet Flux: AI-powered variance commentary

Understand what's changed. Faster.

Unexpected fluctuations slow month end down. Before you can move forward, you need to understand what's changed, investigate unusual movements and identify where accounting adjustments may be needed.

That's where Flux comes in.

Flux brings P&L variance review into Mayday, helping you investigate fluctuations, understand what's driving them and capture your commentary in one place. Less time chasing answers. More time moving month end forward.

Let AI do the first draft

Instead of starting with a blank page, Flux uses AI to analyse historical data, recognise patterns and generate a first draft of your variance commentary. It can also highlight transactions that may have been posted to the wrong account code, giving you a faster starting point while keeping you in control of every decision.

“Flux is so quick for such a solid P&L overview, and the commenting just makes life so much easier"
- Martin Goodwin, Group Finance Manager at Open Box Software

Focus on what matters

Not every fluctuation deserves your attention.

Materiality settings let you define value or percentage thresholds, so you can focus on the movements that matter most and keep month end moving.

Flux is available today.

Learn more about Flux https://www.getmayday.com/product/flux

‍

Introducing Accruals

A faster way to manage accruals

Accruals are fundamental to an accurate month end. Managing recurring and one-off accruals has been a manual process. Keeping track of what's been posted, what still needs to be posted and making sure everything is reversed at the right time slows month end down.

That's why we're launching Accruals.

Manage accruals in one place

Launching into beta this week, Accruals brings one of month end's most manual processes into Mayday.

Create, schedule and manage both accrued costs and accrued revenue from one place, giving you a clear, consistent way to manage accruals throughout month end.

Whether you prefer a summary view of your open accruals or a schedule covering the full financial year, you have complete visibility over your accruals before posting journals directly back to Xero, QuickBooks Online and Intuit Enterprise Suite.

The start of something bigger

Accruals enters beta this week, but this is just the beginning.

Our vision is an intelligent accrual workflow that removes more of the manual work from month end while keeping finance teams in control. As the product evolves, AI will be able to suggest accruals, predict recurring accruals, recognise when actual invoices arrive and recommend reversals, giving you a smarter starting point every month.

Register for early access to Accruals https://www.getmayday.com/product/www.getmayday.com#register

‍

Recharger 2.0: More flexibility. More control. Every recharge.

Whether you're allocating costs, revenue or balance sheet items across multiple entities or recharging costs between departments within a single entity, Recharger has always helped finance teams manage the process.

Now it's even more flexible.

More control. More flexibility.

Choose exactly which recharge rules to process, run multiple recharge runs within the same period and separate different recharge types into their own runs.

For example, you might want to process management fee recharges today, leave shared software costs until later, or run payroll recharges as their own separate process. Instead of processing every recharge together, Recharger 2.0 lets you decide exactly what to include in each run, giving you complete control over how and when recharges are processed.

Rerun with confidence

Need to rerun a period? You can.

Transactions can only ever belong to one recharge, so rerunning a period won't create duplicate postings. That means you can rerun recharges whenever you need to, with the confidence that every transaction is processed once, and only once.

Recharger 2.0 is available today.

Learn more about Recharger https://www.getmayday.com/product/recharger

‍

Introducing the Mayday Partner Programme

Some firms use Mayday to deliver services. Others introduce Mayday to clients who use the platform themselves.

The Mayday Partner Programme brings both together under one commercial framework, making it easier to roll Mayday out across your client portfolio.

One programme. Two ways to work.

If your firm uses Mayday to deliver services, you have access to the tools that match the way you work. Practice Licences are designed for year-end compliance and lighter-touch outsourced finance, while Full Mayday supports firms delivering a complete month-end service.

If your client uses Mayday directly, the Partner Programme gives you the flexibility to choose the model that fits your relationship. Purchase Mayday on your client's behalf or introduce Mayday and let your client subscribe directly.

Built to grow with your firm.

Whether you're supporting year-end compliance, acting as an outsourced finance function or introducing Mayday to clients with their own finance teams, the Partner Programme gives you one consistent way to manage your client portfolio as it grows.

The Mayday Partner Programme launches this week.

Learn more about the Mayday Partner Programme https://www.getmayday.com/partner-programme

Ready to mend month end?

This is our biggest step yet towards mending month end.

From AI-powered variance commentary in Flux and the launch of Accruals to Recharger 2.0 and the Mayday Partner Programme, we're giving finance teams and accounting firms more of the tools they need to spend less time on manual work and speed up month end.

Whether you're looking to explain fluctuations faster, bring accruals into Mayday, simplify recharges or transform the way your firm works with clients, there's never been a better time to see Mayday in action.

Book a personalised demo to see the latest releases for yourself, or start a free trial and experience how Mayday is helping finance teams mend month end.

Book a demo | Start your free trial