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Mayday

By Mayday
4.97 out of 5 stars
Free 30 day trial available
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“A multi-entity must have”. Intercompany & intra-entity charge automation | Balance sheet recs | Cross-entity bank rec. Xero Emerging App Partner of the Year 2023.
Rated
5.0
out of 5
Reviewed by
226
Xero users
Try this app
Free 30 day
trial available
Listed for
2 years
April 2022

Overview

IF multi-entity, THEN Mayday

“Saves us time in automating what was once hours of manual work” – Chantelle Bryce

If you manage a group of companies, or if you manually process intra-entity charges between departments, you’ll know how frustrating it can be to deal with this kind of work.

Mayday is the answer. We add a layer on top of your Xero files so you can automate intercompany and intra-entity charges, run balance sheet recs and match bank transactions to invoices and bills across entities.

Proud to be Xero’s Emerging App Partner of the Year 2023, with 130+ glowing reviews.

Mayday Recharger

“If you've used Xero's bank rules, you'll find the recharge rules so intuitive” – Yona Levander

  • Automate intercompany and intra-entity charges: Removing the manual work of recharging costs and revenues between departments or 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, including cross currency. 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.

Mayday Balancer

“Lifesaver for identifying loan account discrepancies” – Katrina Bignasca

  • Intercompany balance sheet recs in just a few clicks: Instead of the painful manual matching on Excel that you might have done in the past, Balancer cross-checks your intercompany balances to ensure they are always in sync.
  • 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.

BRAG (Bank Reconciliation Across the Group)

“BRAG makes the best screen in Xero even better!” – Lauren Harvey

  • No more switching between Xero files: Reconcile bank feed items in one entity to bills or invoices in other Xero entities, all from one screen, just like the Match function in Xero. If the invoice doesn't already exist in Xero, create it without needing to leave the bank rec screen, just like Xero's Create function.
  • Spend 40% less time reconciling intercompany transactions: No need to spend ages hunting for relevant invoices, or creating them in the other entity before reconciling.
  • Eliminates the risk of one-sided postings to a loan account: Take care of both entries for cross-entity bank rec in one click.
  • Eliminates risk of bills being paid twice: Mark the bill as paid and the bank feed item as reconciled in one click. No need to worry that a bill could show as outstanding and get paid twice.

Watch the video below to learn more. Open in YouTube for:

  • Balancer 00:00
  • Recharger 01:43
  • BRAG 05:02
Mayday
Play Video
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Mayday + Xero

“Mayday enables us to use Xero rather than NetSuite. It's as simple as that.” – Jordan McCreary, OG Group

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

Mayday 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.

Mayday 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 (Bank Reconciliation Across the Group) 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.

Awards

🏆 Xero UK Emerging App Partner of the Year 2023

🏆 Rising CFO Tech of the Year, GENCFO Digital Finance Function Awards 2023

Why Mayday?

Whether you’re a franchisor, an international group, a chain, managing charges between departments or just managing related entities, Mayday can save you days of manual work every month. Get started with a 30 day free trial, or sign up to our free tier, Balancer Free, to keep your intercompany balances in sync.

  • Saves you time and hassle at month end: Streamline your intercompany and intra-entity processes and reduce time spent on financial operations. This work takes 98% less time with Mayday.
  • Deliver consolidated management reports on time: Group consolidation apps are great, but you need to get the data clean before they can produce slick reports. Mayday cleans up your data so you can get precious insights into the hands of business leaders ASAP at the end of every month. Works multi-currency.
  • Improve accuracy and keep a shared log: Let’s face it; manually balancing intercompany loans or calculating recharges in Excel is prone to error. With Mayday you can collaborate with your team to get the recharge rules and reconciliations right, and keep a shared log of how calculations were made. Every transaction links back into Xero.
  • First class customer support from a team who cares: We want everyone who uses Mayday to love it, and so if you have a question we’ll be on hand to help. Our customers rave about our quick response times and friendly, knowledgeable customer service: “The support we’ve had was incredible”, “An exceptional level of support”, “A super friendly and helpful team”, “The help chat is near instantaneous”.

Reviews & ratings

5.0 out of 5 stars
226 Reviews

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Most recent reviews

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Michelle Eccleshall
Posted 20 Jun 2024
5 out of 5 stars

Elite product. Introduced by an elite advisor

I'm the FD of an 9-entity business. I've always loved Xero from my time in practice. But there's always so much on for us. Staying on top of how to get the most out of Xero and its ecosystem, in the way that we need to as a fast-growing group, is so challenging. I'm so grateful to Becki from UHY. I worked with her at Dains. She is super switched on. I take her systems recommendations seriously. And I'm so glad I did when she suggested I check out Mayday. It's an incredible suite. It kills so much pain for us as a group. Intercompany balance sheet recs were a nightmare. The intelligent transaction matching in Balancer is an absolute lifesaver. And Recharger is so well thought through. It makes our intercompany recharges so much easier. The team at Mayday have been brilliant to work with. They've been so helpful in helping us get the most out of the product suite. This is an accountant making a software recommendation at its very best.
MB
Maridesa Bardhi
Posted 19 Jun 2024
5 out of 5 stars

Perfect fit for our 34-entity business!

We were missing a lot of gaps when it came to closing month end pre-Mayday as Xero's system was not working for our 34-multi-entity business. Thankfully, we found Mayday and there's no looking back. I can't believe how long we used to spend manually balancing our accounts across the business and the stress and inacurracies we'd face due to the complexity of the process. Now we have complete peace of month and we've cut the time spent our month end process by 50%!
JB
Jack Baldwyn
Posted 17 Jun 2024
5 out of 5 stars

Absolute game changer!

Before discovering Mayday I was manually recharging and reconciling inter-company for 12 different entities. Historically, this has been a huge job. Automating intercompany recharging is something that it's incredibly easy to do badly, but phenomenally hard to do well. It's a binary sport. A solution either gets it right, or it's pointless. Worse than pointless actually, as it can give the veneer of accuracy when actually there are issues hiding in the resulting recharges. I've been highly impressed both by the quality of Mayday as well as how communicative and helpful the team have been. We've just subscribed for a year; if you have multiple entities this will revolutionise the way you perform inter-company processes

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

Functions

Accountant toolsReporting

Industries

Professional servicesAccountingFranchise

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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30 day free trial available

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