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Mayday Recharger

5 out of 5 stars
Automate your intercompany recharges. Do in minutes what used to take hours. Connect your group entities -> Create personalised rules -> Transactions flow through -> Your rules automatically calculate your recharges -> You review and make any tweaks

Overview

Mayday Recharger is a simple solution for businesses who have connected entities. Recharging 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 recharges for a tiny fraction of the time it used to take.

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 recharges; 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. That's it. Now, it takes only minutes to run your intercompany recharges monthly.

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.

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Mayday Recharger
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Mayday Recharger + Xero

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 to post back into Xero.

Reviews & ratings

5.0 out of 5 stars
5 Reviews
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AS
Alexandra Serra
Posted
5 out of 5 stars

A month-end gamechanger

We love Mayday! Month-end, with all the work to deliver management information, is such a chore for us as a finance team. As a fast-growing business, it's imperative we get our MI out fast. But the sheer volume of manual work has always got in the way. Enter Mayday. The product is brilliantly conceived. So intuitive and easy to use. The support and proactive suggestions for how we can get more out of the product are absolutely fantastic. The team are incredibly responsive to feedback. We love how quickly the product is being developed. I just wish I could give a product more than 5 stars!
HH
Harriet Hope
Posted
5 out of 5 stars

Mayday gives Xero wings

As a company, we've used Xero since day 1. We love it. Our business has grown rapidly. We've added more entities to the group, and lots of complexity. Increasingly we'd been hitting the limits of Xero as a system. We'd resigned ourselves to the fact that our days with Xero were numbered. That all changed when we found Mayday. It superpowers us as a Xero-using finance team. Mayday is extending our life with Xero as a business, which we're absolutely thrilled about. Mayday really does give Xero wings!
JD
Joe David
Posted
5 out of 5 stars

A core tool in delivering a professional finance function to clients

We at Nephos are an accounting firm that deliver virtual finance function services to our clients. We do their bookkeeping and monthly management reporting for them. We pride ourselves on the quality of service we deliver. We've developed a great process to use Xero and its app ecosystem to deliver regular and accurate bookkeeping information. It's a continued challenge to get clients to see the value of accounting adjustments within their management accounts. We're lucky Xero makes processing depreciation as easy as it does. Accruals and prepayments are a different story. As are intercompany recharges for those clients with multiple connected entities. Those recharges frequently end up getting processed in one go as part of the year end accounts. Which ends up taking more time as no-one can remember what the transactions are. That's why finding Mayday Recharger was so brilliant. Now in just a couple of minutes, we can deliver clients more accurate monthly management information. And save ourselves time we can't charge for at year end. Mayday Recharger is now a core software in delivering a professional finance function to clients.

Additional info

Shared data

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

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

Contact supportsupport@getmayday.com

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