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Mayday

Xero staff picks
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
46 Reviews
5 star(100%)
4 star(0%)
3 star(0%)
2 star(0%)
1 star(0%)
JS
jatin Sawhney
Posted
5 out of 5 stars

A multi-entity must have

We were so excited to discover Mayday. The Xero world has been crying out for a solution like this. We have lots of entities in our group with lots of different costs that need to be recharged. It used to cause us so much pain at month end. Not any more. Mayday is so well conceived. So well executed. It has slotted in brilliantly as part of our tech stack. The team are great. So accommodating and eager to help.
SK
Stole Kalamadevski
Posted
5 out of 5 stars

Phenomenal

Love Mayday. I used to have to bear the brunt of doing our recharges at month end. It was such a source of dread. Mayday makes it so so easy. It took a little bit of time to get our rules setup. The team and materials Mayday provide were so helpful. Wow was that time worth it. Our recharges are just so easy and efficient each month thanks to Mayday.
RT
Raymond Tang
Posted
5 out of 5 stars

Fantastic Xero App

We initially found out about Mayday through a webinar as we were looking for a Xero app solution to reduce time taken on processing recharge invoices. After speaking to David about what Mayday could bring to our business we signed up for a trial. Onboarding was simple and the help guides are clear and easy to understand so we could learn more about getting the most out of Mayday. At the we signed up to the trial we noticed Mayday could not cater to the way we assigned costs through the Xero cost assignment feature. The team showed great levels of engagement in understanding our needs and so they carried on developing Mayday and delivered the necessary functionality brilliantly within a month. We now have a fantastic Xero app in Mayday and look forward to the exciting developments Mayday have in store.

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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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.