Overview
At DayFive, we understand how challenging it is to manage spending, revenue, budgets and financial controls while running a growing business. Too often, finance teams are adjusting accruals at month-end, reversing journals manually, correcting deferred revenue, and explaining variances after the fact.
DayFive brings structure, visibility and discipline through real-time insight into expenses, revenue and performance, while automatically handling the technical accounting behind the scenes.
No spreadsheets. No forgotten journal reversals. No surprises at month-end.
A few features that make life easier:
• Automated accrual accounting: Prepayments, accruals, deferred revenue, expense spreading and revenue smoothing are processed automatically in line with accounting standards.
• Currency conversions: Multi-currency transactions are handled seamlessly.
• Automated journalling: Journals are posted and reversed accurately (including currency converted journals) without manual intervention.
• Smart templates: Quickly raise recurring or variable expenses with pre-filled descriptions and flexible values.
Here’s why businesses choose DayFive:
• Real-time expense tracking: See what’s being spent, what requires approval and what’s overdue.
• Budget & forecast control: Set limits by department, line item or job and monitor budget vs actual performance instantly.
• Job costing & project visibility: Track work in progress and profitability with structured cost allocation.
• Revenue management: Raise quotes and invoices while ensuring revenue is recognised correctly over time.
• Stronger systems & controls: Role-based permissions, departmental spend limits and approval workflows protect your business.
• Calendar dashboard: A clear landing view showing approvals, payroll reminders, VAT deadlines and outstanding balances.
Here’s why finance professionals value DayFive:
• Clean data: Transactions are recorded correctly from day one.
• Reduced risk: Built-in controls strengthen governance and audit readiness.
• Standardised processes: Consistent handling of accruals, prepayments and revenue recognition.
• Faster month-end: Fewer manual adjustments, fewer corrections, greater confidence in the numbers.
DayFive acts as your automated accounting assistant; embedding strong financial systems, budget discipline and accurate revenue and expense recognition directly into daily operations.
Set budgets. Control spending. Track performance. Strengthen controls. Close with confidence.
DayFive + Xero
DayFive offers a seamless and intelligent integration with Xero that automates purchase order workflow, expense recognition, and automated journal entries. By connecting directly to Xero, DayFive removes the need for spreadsheets, reduces manual processing, and gives finance teams real-time visibility into future expenses, before the invoice even arrives.
How the Integration Works
Automated Purchase Order Sync:
When a purchase order is created and approved in DayFive, it’s automatically pushed into Xero as a tracked expected expense. This gives finance teams visibility into upcoming costs and their impact on profit and loss, without having to wait for the bill to be received or manually entered.
Automated Accruals and Prepayments:
DayFive handles the accounting behind the scenes. Whether it's a one-off service or a recurring subscription billed monthly, quarterly, bi-annually, or annually, DayFive creates and posts accrual or prepayment journals in Xero based on when the expense should be recognised, not only when the invoice is entered. This ensures your financials are always aligned with actual service delivery and compliant with accounting principles.
Smart Period-Based Expense Recognition:
For expenses that cover a defined time period, such as annual software subscriptions, DayFive automatically smooths the cost over the correct months. It posts monthly prepayments and accruals along with reversals into Xero without manual intervention, providing accurate monthly reporting and eliminating month end guesswork.
Chart of Accounts Mapping:
DayFive allows you to map each purchase order to the correct Xero account code, ensuring consistent and accurate classification of expenses. Every journal entry pushed to Xero is coded correctly from the start.
Tracking Categories:
Use your existing Xero tracking categories (such as department, team, or project) within DayFive to tag purchase orders and journals. This enables detailed reporting and cost centre-level insights without the need for manual reclassification.
Contacts and Vendor Matching:
Vendors and contacts used in purchase orders are automatically matched and synced to Xero, ensuring clean and consistent supplier data across both systems.
DayFive’s integration with Xero is built to simplify complex finance workflows; from PO creation to expense recognition and journal posting. By automating each step, DayFive empowers finance teams to stay ahead of deadlines, reduce errors, and maintain fully compliant financial records with less manual effort. It’s a hands-free solution designed for growing businesses that want clarity, control, and confidence in their numbers.
Getting started
DayFive integrates directly with Xero to automate purchase workflows, expense recognition, revenue management and journalling reducing manual intervention while strengthening financial controls.
By embedding accrual accounting and budget discipline into everyday processes, DayFive gives finance teams real-time visibility over committed spend, recognised costs and revenue performance, not just what has already been invoiced.
No spreadsheets. No manual journal trackers. No forgotten reversals.
How the Integration Works Automated Purchase Order Sync When a purchase order is raised and approved in DayFive, it is automatically reflected in Xero, giving immediate visibility of committed and expected expenses. Finance teams can see the impact on budgets and profit before the supplier invoice arrives, improving forecasting and expense tracking.
Automated Accruals, Prepayments & Deferred Revenue DayFive manages period-based accounting automatically. Whether it’s a one-off service, SaaS subscription or long-term contract billed monthly, quarterly, semi-annually or annually, DayFive: • Calculates the correct recognition period • Posts accrual or prepayment journals • Handles deferred revenue where applicable • Automatically reverses journals in the correct period This ensures expenses and revenue are recognised in line with accounting standards — based on when the service is delivered, not just when the invoice is received.
Smart Expense Spreading & Revenue Smoothing For invoices covering defined time periods, such as annual software licences or contracted services, DayFive automatically spreads costs or revenue across the appropriate months. Monthly journals and reversals are created without manual input, ensuring accurate month-end reporting and eliminating guesswork.
Automated Journalling & Currency Conversions All journals are created with the correct coding and timing, reducing manual adjustments at month-end. Multi-currency transactions are processed accurately, with currency conversions handled as part of the automated workflow.
Chart of Accounts & Tracking Categories DayFive maps transactions to the correct Xero account codes from the start, ensuring consistent classification and clean financial data.
Existing tracking categories (such as department, project or cost centre) can be applied within DayFive, enabling accurate job costing and detailed reporting without rework.
Contacts & Vendor Matching Suppliers and customer contacts are automatically matched and synchronised, maintaining consistent records and reducing duplication or coding errors. DayFive’s integration is designed to simplify complex accounting processes; from purchase order creation to accrual accounting, expense smoothing, revenue recognition and journal reversal.
By automating these controls, DayFive helps finance teams reduce risk, improve accuracy and accelerate month-end close, while giving the wider business clarity and confidence in the numbers.
