Welcome to BRAG
BRAG (bank reconciliation across the group) enables users to match transactions to invoices and bills posted to other entities from within the Xero bank rec interface.
BRAG is simplifying life for finance teams every month
BRAG immediately became an integral part of our techstack. We no longer need to search through our entities for bills that match payments from other entities, which saves a huge amount of time and eliminates the worry that a bill could be paid twice.
BRAG is just so effective, so easy to use. The way it's built on top of the Xero bank rec interface makes it such a joy to use
The way it has improved our efficiency has been so incredible. It has allowed us to use a central bank account instead of 6+ for making payments & seamlessly reconciling inter-entity transactions reducing the time spent week on week by the team by at least 40%
How does BRAG work?
1: Install the browser extension
Install the Mayday Extension to your browser and make sure that your loan account code mappings are set up
The Mayday tab will appear in your Xero bank rec interface once the extension has been installed
2: Reconcile transactions from across your group
Match payments and revenue to bills and invoices as you normally would
Mayday will search across the whole group for bills and invoices that could match the transaction
To reconcile, select the bill or invoice that the transaction applies to
The relevant intercompany accounts will be debited and credited.