As part of our Recogniser features, Prepayments helps finance teams automate prepayment schedules and expense amortisation journals. It identifies bills that need spreading over future periods, recommends schedules, and posts journals back to Xero or QuickBooks Online.

Who is Prepayments designed for?

Prepayments is designed for finance teams and accounting firms that need to spread costs over future periods rather than recognising the full expense upfront. It is especially useful when prepayment schedules are currently managed manually in spreadsheets.

How does Mayday identify bills that need prepayment schedules?

Mayday’s AI-powered inbox scans bills and surfaces those likely to need prepayment treatment. Teams can also set custom rules for the expense accounts Mayday should monitor, then review items individually or in bulk.

Can teams review prepayment schedules before posting?

Yes. Mayday recommends prepayment schedules, but teams stay in control. They can review bills individually or in bulk, edit schedules where needed, and validate all schedules for the financial period before posting.

How does Prepayments help with month end?

Prepayments reduces the manual work involved in calculating expense amortisation journals. Teams can review schedules in one place, validate the period’s prepayment release, and post journals in one click during month end.

Can Mayday post prepayment journals to Xero or QuickBooks Online?

Yes. Once schedules have been reviewed, Mayday can post prepayment journals to Xero or QuickBooks Online. Teams can post as draft or finalised journals, at transaction level or nominal level, depending on the detail they need.

How can Prepayments help my company scale without an ERP?

Prepayments helps teams manage prepaid expenses as part of a modern finance stack. It adds structure, automation, and review controls to a recurring month-end workflow, helping businesses scale with Xero or QuickBooks Online without the bloat of a traditional ERP.

Welcome to Prepayments

Automate the creation of your prepayment schedules and expense amortisation entries.

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Here’s how our Prepayments product is helping teams save hours across the globe

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Tyler Caskey

Partner at TheBeanCounters

"Finally a clean product for deferred revenue and prepayments. 5-stars.

I love it. I've already recommended it to multiple clients."

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Rosie Cooper

Director of Cloud Accounting at PM+M

"I was so excited to be part of the beta for their deferred revenue and prepayment modules. I confess that a bunch of work came up, which delayed me getting started.

Can't believe what I was missing! OH MY GOD. What a PRODUCT."

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Paresh Makwana

Head of Finance at Outernet

"The Mayday suite has made a huge contribution to our ability to close month end faster and more accurately. And having seen the exciting product roadmap they have, I'm sure the Mayday impact will only continue to grow."