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The intercompany module for Xero. "A must-have for groups and subsidiaries". Recharger automates intercompany charges. BRAG is one click cross-entity bank reconciliation. Mayday works alongside your consolidation tool to simplify multi-entity month end reporting for your finance team.

Overview

The Intercompany Module for Xero is here.

Mayday is a brilliant solution for Xero-using businesses who have multiple group entities

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

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20 Reviews
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MB
Mitchell Brooks
Posted
5 out of 5 stars

It Just Works

We met the Mayday team at Xerocon Sydney. The benefits of Mayday Recharger were instantly clear to us. We got setup with a trial the next week. The team were very helpful with getting us up and running. Love the product. So easy to use. Comprehensive. Effective. It's slotted seamlessly into our tech stack. It's a no brainer for any multi entity business.
YL
Yona Levander
Posted
5 out of 5 stars

Exceptional product. So well thought through

This is a great product. It's so valuable to us as a business. Intercompany charges was previously a one day job as part of month end. Now it takes 5 minutes. It was so easy to get set up with Mayday Recharger. If you've used Xero's bank rules, you'll find the Recharge Rules in Mayday so intuitive. And the one click posting back to Xero is such a lovely experience. Familiar in all the right ways with the similarity to the Xero interface. Innovative in enabling both sides of the recharges to be posted with just one click. The perfect combination

Response from Mayday

Thanks so much Yona. Really appreciate you taking the time to leave this review. Brilliant to work together!
MP
Megan Plumridge
Posted
5 out of 5 stars

Mayday is awesome - wouldn't be without it

We were tearing our hair out at month end with convoluted spreadsheets and manual processes to manage our inter-entity recharging for both our own, and our clients reporting. Mayday has really met a need to simplify and automate this task, as well as give visibility and consistency as to what has been on-charged. got a special feeling from this team when I met them at Xerocon Sydney. And that feeling has been proven bang on the money. They are SO helpful. SO responsive. We had a couple of issues in getting setup with the way we do things and the unconventional name of our organisation. I had had a manic week so was trying to do my recharges on Saturday morning NZ time. The team at Mayday, late Friday evening their time, bent over backwards to help me get things sorted. Incredible product. Incredible team. If you are a mutli-entity Xero using business and are not already using Mayday: find a mirror and ask yourself what on Earth you are doing.

Response from Mayday

Thanks Megan! The feeling is mutual :) Was amazing meeting you at Xerocon Sydney. Absolutely brilliant to work together. Thanks for being so generous with your feedback to shape the development of our product

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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