Mayday Recharger is a simple solution for businesses who have connected entities. Charging costs and revenues between those entities has previously been a time-consuming, manual process. Not any more. You can now get all of the benefits of monthly intercompany charges for a tiny fraction of the time it used to take.
"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
To start, simply connect the accounting systems of your different connected entities to Mayday Recharger. Similar to the bank rules you use in Xero, you create rules to automate the calculation of your 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 and make any tweaks, and post back to Xero as an invoice or journal. That's it. Now, it takes only minutes to run your intercompany recharges monthly.
"Mayday has saved us a significant amount of time at month end, where we need it the most." - Kaitlin Grenside, London Green
Mayday Recharger 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.
Mayday Recharger + Xero
"Mayday gives Xero wings" - Harriet Hope, Financial Controller at Arbolus
Mayday Recharger securely connects to the accounts of your connected entities that use Xero. It pulls details of your account codes, tracking categories and contacts so that you can use them in creating your recharge rules. Each month when you log in to run your intercompany recharges, Mayday Recharger pulls your transaction data from Xero, applying your recharge rules to calculate your intercompany recharges. You can then make any tweaks required, and Mayday Recharger will present you with your final intercompany recharges which can be posted back to Xero with just one click.
It's incredibly easy to get set up with Mayday Recharger. Sign up to create your recharge group. Connect the accounting systems of your connected entities. Then, start creating your rules to automatically calculate the recharges between them.
Alternatively, book a free demo on our website to find out how Mayday Recharger can be tailored to meet the needs of your multi-entity business.