Prepayments and Deferred Revenue can take hours to manage. It's usually a very manual process with a lot of room for human error - until now.
Mayday Recogniser automates the recognition and creation of release and deferral schedules for Prepayments and Deferred Revenue and allows you to one click post the journals back to your accounting software.
It provides visibility of all the transactions and how they are being released with a Balance Sheet view of the financial period.
A process which usually takes finance teams hours, can now be done in a matter of minutes with no risk of missing a transaction or formulas being pulled across incorrectly in a big complex spreadsheet, where it's impossible to unpick errors.
Mayday Recogniser pulls all relevant transactions through to an inbox for individual review in the card view:
Or alternatively, transactions can be reviewed in bulk from the list view:
and then creates a schedule of the releases once you select or approve the predicted treatment by clicking add to schedule:
and calculates the journals for one-click posting back to your accounting software:
And you can choose if you want to use both products or just the one!