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The intercompany module. Automate charges & recharges. Bank rec across entities. Finalist Xero Emerging App Partner 2023. "A must-have for groups and subsidiaries". Works with your consolidation tool to simplify multi-entity month end reporting for your finance team.

Overview

The Intercompany Module for Xero

Mayday is a brilliant solution for Xero-using businesses who have multiple group entities. Finalist - Xero Emerging App Partner of the Year 2023

Mayday Recharger

Charging costs and revenues between those entities has previously been a time-consuming, manual process. Not any more.

"Mayday is the answer to a larger Xero user's prayers. It's now so easy and smooth to be able to generate our recharges each month." - Troy Swanson, Finance Director at SPM

Mayday Recharger automates intercompany charges, saving time, improving accuracy and ensuring regularity for finance teams of businesses with subsidiaries.

You can now get all of the benefits of monthly intercompany charges for a tiny fraction of the time it used to take.

Similar to the bank rules you use in Xero, you create rules to automate the calculation of your intercompany charges, using factors like account code, tracking category, customer or supplier contact and transaction description. Mayday Recharger seamlessly pulls transactions from each group entity's accounting system. The rules you set apply to those transactions. Then, review, make any tweaks, and one-click post back to Xero as an invoice or journal. That's it. Now, it takes only minutes to run your intercompany recharges monthly.

BRAG

"BRAG immediately became an integral part of our techstack. We no longer need to search through our entities for bills that match payments from other entities, which saves a huge amount of time and eliminates the worry that a bill could be paid twice." - Juan Visser, Meshed Group

If one group entity pays a bill or receives money on behalf of a related entity, it used to be incredibly difficult for finance teams to find the correct bill or invoice to match the transaction to.

BRAG (bank rec across the group) is an extension that enables users to reconcile transactions from across the group from within the Xero interface.

Matching payments to bills posted to other entities is now just as easy as the regular bank rec that Xero users can do with their eyes shut!

Mayday is built on deep industry insight and a passion for building brilliant accounting technology. It's Co-Founded by the former Founder & CEO of Chaser, Xero’s App Partner of the year 2016.

To learn about Recharger, watch the following video from the start. To learn about BRAG, skip to 03:15.

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Mayday + Xero

"Mayday gives Xero wings" - Harriet Hope, Financial Controller at Arbolus

Mayday securely connects to the accounts of your connected entities that use Xero. Recharger syncs seamlessly and regularly with your accounts to pull all the relevant transaction data, and then posts recharge calculations back to Xero in just one click. There is the possibility to view transactions in Xero using deep links in the Mayday interface.

BRAG is a one-of-a-kind browser extension that works its magic from within the Xero interface - a game changing addition to the Xero bank rec function.

Reviews & ratings

5.0 out of 5 stars
36 Reviews
5 star(100%)
4 star(0%)
3 star(0%)
2 star(0%)
1 star(0%)
KZ
Kerry Zarb
Posted
5 out of 5 stars

Such a time saver

Before Mayday I would spend countless hours doing multi entity entries, and tracking each on a spreadsheet, it was SO tedious. Now with the press of a button, wowers & bam! Thank you MayDay for changing my world!
GV
Gaurav Vasnani
Posted
5 out of 5 stars

Such a painkiller

There are lots of good reasons why bills of one group entity would be paid by another one. There was absolutely nothing good about having to deal with the implications of that in Xero. Until Mayday BRAG came along. A huge huge huge time saver. Brilliant product. Love the way that it sits so elegantly on top of the Xero bank rec interface. Love everything about working with Mayday as a company.
VP
Valerie Pan
Posted
5 out of 5 stars

wow

When I joined the company, the rest of the finance team were excited to show me Mayday. I can see why. This is such a great solution for the pain points of being multi entity with Xero. It is really helping us scale seamlessly with Xero as a business.

Additional info

Shared data

Xero
Mayday
Accountsshared from Xero to Mayday
Tracking Categoriesshared from Xero to Mayday
Paymentsshared from Xero to Mayday
Manual Journalsshared from Xero to Mayday
Journalsshared from Xero to Mayday
Invoicesshared from Xero to Mayday
Credit Notesshared from Xero to Mayday
Contactsshared from Xero to Mayday
Bank Transactionsshared from Xero to Mayday

App details

Added in 2022

Countries

Australia, Canada, Global, Hong Kong, Indonesia, Ireland, Malaysia, New Zealand, Philippines, Singapore, South Africa, United Kingdom, United States

Languages

English

Support

Setup walkthroughContact supportsupport@getmayday.com

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