Midday
Midday is an AI-powered all-in-one platform for freelancers, contractors, consultants, solo entrepreneurs, and micro businesses, consolidating financial overview, time tracking, invoicing, secure file storage, and personalized insights. It connects to over 20,000 banks across the US, Canada, UK, Europe, and more, tracking expenses, income, revenue, burn rate, and providing AI-driven projections for cost optimization and opportunity identification via the Midday Assistant. Features like the Magic Inbox auto-match receipts to transactions, Vault offers secure file storage with smart search, and Tracker enables project time-tracking with team collaboration. The upcoming invoicing supports web-based creation, live collaboration, project sync, payments, and reminders, while seamless CSV exports simplify accountant handoffs. Fully open-source, it allows community contributions for customization.
Pros
- Personalized financial insights
- Projects income and expenses
- Cost optimization and opportunity identification
- Secure Vault for file storage
- AI-powered auto-matching of invoices and receipts
- Project time-tracking with team collaboration
- Seamless CSV exports for accountants
Cons
- Invoicing feature still under development
- Bank connections limited to US, Canada, UK, Europe
- No standalone mobile app
- Requires bank connections to function fully
- Reliance on community for open-source contributions
- Unproven live collaboration in invoicing
- Limited integrations with other tools
Midday is designed mainly as an all-in-one tool for freelancers, contractors, consultants, and micro businesses. It facilitates various aspects of running a business including financial health monitoring, project time-tracking, file storage, and invoice sending.
The Midday Assistant works by delivering personalized insights into a user's financial situation. It projects both income and expenses which can help optimize costs and identify opportunities.
The 'Vault' feature in Midday is a secure storage space for all business files. It collects all important files in one place which makes it easier for users to retrieve items such as contracts and agreements.
The 'Inbox' feature in Midday utilizes AI to automatically match incoming invoices or receipts to the right transaction. It intelligently correlates and catalogues your financial records.
Midday's 'Tracker' feature is designed to record project times effectively. It provides useful overviews which can foster seamless collaboration amongst team members.
Midday connects to numerous banks across the US, Canada, UK, and Europe. It provides users a clearer understanding of their business's financial history and current state.
Midday streamlines month-end procedures by reducing manual work and simplifying the tasks involved. It automates receipt-to-transaction mapping, consolidates all files, provides financial overviews, and makes it easier to prepare exports for an accountant.
Midday's open-source code signifies its commitment to transparency and adaptation. Users and developers can access the code, understand the workings of the platform, and even contribute to its development.
Midday simplifies the preparation of exported information for accountants by taking care of the entire process. It packages all selected transactions from any chosen period neatly in a CSV file.
Midday's upcoming invoicing solution is expected to feature web-based invoices, live collaboration, and project synchronization, along with customer management, VAT/sales tax, discounts, PDF export, and payment tracking.
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