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Mayday

By Mayday
4.97 out of 5 stars
Free 30 day trial available
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“A multi-entity must have”. Intercompany & intra-entity charge automation | Balance sheet recs | Cross-entity bank rec. Xero Emerging App Partner of the Year 2023.
Rated
5.0
out of 5
Reviewed by
185
Xero users
Try this app
Free 30 day
trial available
Listed for
2 years
April 2022

Overview

IF multi-entity, THEN Mayday

“Saves us time in automating what was once hours of manual work” – Chantelle Bryce

If you manage a group of companies, or if you manually process intra-entity charges between departments, you’ll know how frustrating it can be to deal with this kind of work.

Mayday is the answer. We add a layer on top of your Xero files so you can automate intercompany and intra-entity charges, run balance sheet recs and match bank transactions to invoices and bills across entities.

Proud to be Xero’s Emerging App Partner of the Year 2023, with 130+ glowing reviews.

Mayday Recharger

“If you've used Xero's bank rules, you'll find the recharge rules so intuitive” – Yona Levander

  • Automate intercompany and intra-entity charges: Removing the manual work of recharging costs and revenues between departments or group entities. Reducing scope for human error, and average recharge time by 98%.
  • Create your own rules: Like the bank rules you use in Xero, create rules to automate the calculation of your intercompany recharges.
  • Aligned with Xero processes: Your recharge rules will pick up the relevant Xero transactions and calculate your recharges, including cross currency. Then one-click post back to Xero. A task which used to take a whole day is now a tick-box task which takes just minutes.

Mayday Balancer

“Lifesaver for identifying loan account discrepancies” – Katrina Bignasca

  • Intercompany balance sheet recs in just a few clicks: Instead of the painful manual matching on Excel that you might have done in the past, Balancer cross-checks your intercompany balances to ensure they are always in sync.
  • Discrepancies clearly visible: Quickly find the culprit that unbalanced the accounts and rectify posting asymmetry.
  • Simplified adjustments: Any FX and/or interest adjustments are auto-calculated for you to one-click post back to Xero.

BRAG (Bank Reconciliation Across the Group)

“BRAG makes the best screen in Xero even better!” – Lauren Harvey

  • No more switching between Xero files: Reconcile bank feed items in one entity to bills or invoices in other Xero entities, all from one screen, just like the Match function in Xero. If the invoice doesn't already exist in Xero, create it without needing to leave the bank rec screen, just like Xero's Create function.
  • Spend 40% less time reconciling intercompany transactions: No need to spend ages hunting for relevant invoices, or creating them in the other entity before reconciling.
  • Eliminates the risk of one-sided postings to a loan account: Take care of both entries for cross-entity bank rec in one click.
  • Eliminates risk of bills being paid twice: Mark the bill as paid and the bank feed item as reconciled in one click. No need to worry that a bill could show as outstanding and get paid twice.

Watch the video below to learn more. Open in YouTube for:

  • Balancer 00:00
  • Recharger 01:43
  • BRAG 05:02
Mayday
Play Video
, opens in a dialog

Mayday + Xero

“Mayday enables us to use Xero rather than NetSuite. It's as simple as that.” – Jordan McCreary, OG Group

Mayday integrates securely with Xero, connecting with your Xero organisations and pulling all the relevant transaction data.

Mayday Balancer syncs with your Xero organisations and uses loan account mappings to display your postings side-by-side. We automate the relevant FX and/or interest adjustments and you one-click post them to Xero.

Mayday Recharger syncs regularly with your Xero organisations so that you can access each group entity’s information in real-time, automate the relevant recharges, and one-click post back to Xero.

BRAG (Bank Reconciliation Across the Group) is a browser extension that functions from within the Xero bank rec interface, enhancing Xero’s regular bank rec so that it now works for cross-entity bank rec.

Awards

🏆 Xero UK Emerging App Partner of the Year 2023

🏆 Rising CFO Tech of the Year, GENCFO Digital Finance Function Awards 2023

Why Mayday?

Whether you’re a franchisor, an international group, a chain, managing charges between departments or just managing related entities, Mayday can save you days of manual work every month. Get started with a 30 day free trial, or sign up to our free tier, Balancer Free, to keep your intercompany balances in sync.

  • Saves you time and hassle at month end: Streamline your intercompany and intra-entity processes and reduce time spent on financial operations. This work takes 98% less time with Mayday.
  • Deliver consolidated management reports on time: Group consolidation apps are great, but you need to get the data clean before they can produce slick reports. Mayday cleans up your data so you can get precious insights into the hands of business leaders ASAP at the end of every month. Works multi-currency.
  • Improve accuracy and keep a shared log: Let’s face it; manually balancing intercompany loans or calculating recharges in Excel is prone to error. With Mayday you can collaborate with your team to get the recharge rules and reconciliations right, and keep a shared log of how calculations were made. Every transaction links back into Xero.
  • First class customer support from a team who cares: We want everyone who uses Mayday to love it, and so if you have a question we’ll be on hand to help. Our customers rave about our quick response times and friendly, knowledgeable customer service: “The support we’ve had was incredible”, “An exceptional level of support”, “A super friendly and helpful team”, “The help chat is near instantaneous”.

Reviews & ratings

5.0 out of 5 stars
185 Reviews

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Most recent reviews

MS
Marnie Smith
Posted 24 May 2024
5 out of 5 stars

Amazing accounting automation!

I can't say enough good things about this app... We set everything up quickly and let the app handle the rest. The time we used to spend on manual recharges is now a fraction of what it was. It’s been a huge efficiency boost for us, especially at month end!
JW
Jessica Walker
Posted 24 May 2024
5 out of 5 stars

Great intercompany app

Automating recharges between entities used to be a real pain every month. But with Mayday taking care of it, we've saved a ton of time and hassle. The support from the Mayday team has been outstanding. They've been incredibly helpful at every step, from the initial setup to answering any questions we've had along the way.
MB
Max Barber
Posted 24 May 2024
5 out of 5 stars

Huge time saver for our multi-entity business

We've recently added Mayday to our stack to help with our year-end audit. It helped us visualise the intercompany loans across our group and made the necessary journalling much quicker. What used to take days now only takes a couple of hours, and even the auditor is impressed. We are also using the bank reconciliations across the group feature to eliminate that task at each month-end.

Additional info

Shared data

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

Functions

Accountant toolsReporting

Industries

Professional servicesAccountingFranchise

App details

By Mayday
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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30 day free trial available

Although Xero reviews each app in the Xero App Store, we can’t give any guarantees. It’s up to you to assess the performance, quality and suitability of any app before going ahead.