40% faster: How Mayday saves hours every close

As a Partner at TheBeanCounters, an accounting firm specialised in cloud accounting and consultancy services, Tyler Caskey has significant experience working hands-on with growing businesses to help them build smarter, more efficient finance systems.

Drawing on his experience as a former CFO, Tyler now advises clients across industries on how to streamline their finance operations, particularly at month end.

For him, Mayday has become an essential part of that toolkit.

Before Mayday: long nights

Month end for Tyler, and many of his clients, used to mean sleepless nights trapped in manual processes.

“In previous roles, we had 60 intercompany accounts and would often spend nights manually calculating to make sure they worked on Excel.”

Intercompany loan reconciliations and prepayments were handled in spreadsheets, often managed by a single accountant under constant pressure to balance the books.

“One client had 40 entities, each with around nine intercompany loans because they were buying and selling goods across the group. The spreadsheet was huge, ugly, and one accountant was stuck doing it every month.”

It’s a familiar story: as group structures grow, so does complexity, and spreadsheets simply can’t keep up.

Prepayments were also a major pain point as they were complex enough that they couldn’t easily be delegated, keeping senior team members tied up in manual calculations month after month.

All in all, the month-end process was slow, error-prone and difficult to scale.

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Discovering Mayday

The turning point came when Tyler connected one of his client groups directly to Mayday Balancer.

Within minutes, the automation made clear just how much time and energy could be saved.

“We connected all their Xero files to Mayday, and it completely revolutionised how fast they could do intercompany work. I loved that it flagged out-of-balance accounts straight at the top of the page. You could focus straight on the few that needed attention instead of spending hours checking everything.”

For Tyler, it was obvious that Mayday was solving a universal problem: one he’d faced himself for years as a CFO and now saw repeatedly across his client base.

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Life with Mayday: reliable automation that saves hours

For Tyler, the biggest change has come in the form of automation and reliability, qualities that traditional spreadsheets simply cannot deliver.

“The reliability of intercompany accounts is so hard to manage for a CFO.”

Alongside intercompany reconciliations, Recharger has also become a cornerstone of The Bean Counters’ month-end toolkit.

“Being able to reliably automate intercompany recharges has been huge! Setting a percentage and letting Mayday create the AP and AR automatically saves four transactions every time. Across multiple entities, that’s hours of work avoided.”

Tyler estimates that for teams managing manual intercompany work, recharges and prepayments, Mayday can reduce month-end time by up to 40%.

“If you spend time automating properly, what used to take eight hours can be brought down to four or five. The next month, it’s even faster.”

And the benefit extends beyond efficiency. It’s about reclaiming time and building confidence.

“Back in 2007, I’d be in the office until 10 p.m. balancing intercompany loans that no one else cared about. Now, with Mayday, my time, and my clients’ time, is valued. We can trust the automation and have confidence the numbers are right [...] It takes the anxiety out of month end”

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Looking ahead

As Mayday continues to expand its product suite, Tyler is particularly excited about how automation could transform more complex finance workflows, especially for project-based construction businesses.

“I’m looking forward to seeing construction companies adopt Mayday’s tools and finally get that process off spreadsheets.”

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A word from Tyler

“Mayday makes month end simple and reliable. It takes minutes to set up, and the reliability of the outcomes is rock solid. It’s an essential tool for any consultant helping businesses bring order, control, and confidence to their finance function.”

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If you’re a multi-entity business using Xero and know the pain of manual intercompany reconciliations and late nights at month end, see for yourself how Mayday can help: start your free 30-day trial today!