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Mayday

By Mayday
5 out of 5 stars
The intercompany module: Auto-balanced intercompany loan accounts | Recharge automation | Cross-entity bank rec. Multi-entity bliss. Xero Emerging App Partner of the Year 2023.

Overview

The Intercompany Module for Xero

"Mayday - where have you been all my life?!" - Cheryl Morgan, Unity Health

Mayday eliminates the pain of manual accounting adjustments, saving finance teams a whole day of work each month and improving accuracy. Multi-entity with Xero has never been so easy.

Mayday Balancer

  • Never again will your intercompany loan accounts fall out of balance: Balancer cross-checks your intercompany loan accounts to ensure both entities show equal amounts.
  • 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.

Mayday Recharger

  • Automate intercompany charges: removing the manual work of recharging costs and revenues between 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. 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.

BRAG (Bank Reconciliation Across the Group)

  • Cross-entity bank rec made simple: easily and efficiently match transactions where one group entity pays a bill or receives money for an invoice posted in another group entity, eliminating the risk that a bill could be paid twice.
  • Xero extension: the bill or invoice can be matched by the entity that paid or received it directly from that entity's Xero bank rec, and marked as paid without the need to switch Xero files.
  • Automate loan account postings: matching payments across entities with BRAG automatically generates the relevant loan account postings.

Mayday is built on deep industry insight and a passion for building brilliant accounting technology. Proud winners of the Xero Emerging App Partner of the Year Award 2023.

Watch the following video to learn more about our products. To watch the section for a particular product, please open the video in YouTube and use the following timeframes:

  • Balancer 00:00-01:42
  • Recharger 01:43-05:01
  • BRAG 05:02-07:32
Mayday
Play Video
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Mayday + Xero

"Mayday gives Xero wings" - Harriet Hope, Arbolus

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

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.

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 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.

Reviews & ratings

5.0 out of 5 stars
67 Reviews
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Most recent reviews

LD
Linette du Plessis
Posted 3 Oct 2023
5 out of 5 stars

HUGE time saving throughout the month

With our organisation having multiple entities, Mayday has significantly reduced the amount of time we spend on intercompany reconciliations as well as allocating receipts over the multiple entities. The support is great and the response time even better. If they don’t have an answer or “fix” straight away, they will find one for you.
CB
Chantelle Bryce
Posted 18 Aug 2023
5 out of 5 stars

Huge time-saver on intercompany transactions

As our company grew, we were spending more and more time on manual intercompany entries tracked within spreadsheets at month end. We were incredibly excited to discover Mayday, which not only saves us time in automating what was once hours of manual work, but will also allow us to scale much more seamlessly. David and the team have been great to work with and are always available to answer questions.
SM
Stevie Maora
Posted 7 Aug 2023
5 out of 5 stars

Saving time at Month End

Mayday saves us so much time at Month end! We were previously processing all multi entity transactions manually at month end and Mayday now saves us hours each month. David and the team have been super helpful with answering any questions that we have had along the way.

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

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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