Introducing Review & Adjustments

Closing the books shouldn't feel like catching up. But for most teams, the adjustments and review stage still works that way with prepayments detected too late, P&L checks done under pressure and accruals that depend on someone remembering to look.

It's the highest-skill part of the process, and is also the part most firms are still doing almost entirely in spreadsheets or legacy tools, not built for the AI era.

Mimo Associate changes that. Here's how.

Understand what changed before you start

Mimo Associate prepares a P&L review that compares the current period against previous periods and highlights variances that may need attention. For each account, it generates written commentary explaining what changed. Issues surface without anyone having to look for them: transactions coded differently to prior months, recurring journal entries that haven't posted this period, costs that likely need accruing and accounts with unusual movement relative to history.

All so your team can arrive at review already knowing what needs attention, not discovering it mid-way through.

Adjustments surfaced as the month progresses

Mimo Associate doesn't wait until month-end to identify what needs adjusting. As invoices come in throughout the month, prepayments are detected immediately, calculated, spread across the relevant periods and queued as suggestions before the close has even started. For accruals, Mimo Associate analyses patterns across journal entries to identify costs that should have posted but haven't, with suggestions updating in real time as new entries land.

Both are informed by the client's history and shaped by your team's previous decisions. The longer you use it, the more relevant the suggestions become.

"Mimo is making all the accrual and prepayment suggestions for us now, which has saved us a lot of time — and means we can spend more time on the end side of it, which is giving clients really good context behind the figures when we send them over."

Anya, Supervisor, PM+M

Every suggestion can be accepted, edited, or dismissed. Nothing posts without your team's sign-off.

Schedules that manage themselves

Accepted items flow into separate prepayment and accrual schedules, giving a clear view of what hits the P&L each month and what stays on the balance sheet. Journals sync to Xero automatically, or manually when you want more control. Lock periods are respected throughout.

If you're moving from spreadsheets, existing schedules can be imported so Mimo Associate takes over from where they left off - no parallel running or starting from scratch.

Learns what to ignore, remembers what matters

As your team accepts and dismisses suggestions, Mimo Associate learns your preferences by client and account. Suggestions get sharper over time, false positives reduce and the institutional knowledge that used to live in a senior team member's head starts living in the system instead, available to anyone picking up the client.

You can also set client context upfront, adding specific preferences or known patterns that guide what Associate surfaces from the start.

What this changes for your team

• No more rebuilding prepayment and accrual schedules in spreadsheets every month

• No more manually clicking through every expense line looking for adjustments

• No more ad-hoc P&L checks that miss things under time pressure

• No more starting from scratch - Mimo Associate remembers client context and builds on it

Your team stops hunting for what needs attention and starts from a list of what already does. Month-end review becomes faster, more consistent and easier to run every period.

Review & Adjustments is live in Mimo. Book a demo or use the chat bubble to speak with the team and get started.