Mayday Academy

Welcome to our information hub, where we provide detailed explanations about various aspects of multi-entity month end

What is chart of accounts automation?

Discover the risks of managing group charts of accounts manually and how automation tools like Mayday HQ help finance teams save time, reduce errors, and close faster.

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What is a chart of accounts?

Learn what a chart of accounts (COA) is, its purpose, examples of account codes, and how automation helps multi-entity finance teams stay in control.

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What is recharge automation?

Intercompany charges are a critical part of accounting correctly where you have multiple related business entities. While the output is critical, the process for running intercompany charges has historically been cumbersome and time-consuming. It has required:

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How do I run consolidated group financial statements in Xero?

Streamline multi-entity financial consolidation in Xero. This guide explores the best Xero-compatible tools for accurate reporting, faster month-end close, and easier compliance. Discover how to choose the right apps to simplify consolidation, improve visibility, and scale your finance function with confidence.

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What are intercompany charges?

If you need help understanding the world of intercompany charges, don’t fear! Read on to find out exactly what intercompany charges are.

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Does Xero work for multi-entity group businesses?

Managing the financial intricacies of a multi-entity business can be a daunting task, with complexities that often leave even the most seasoned finance leaders scratching their heads. Does Xero truly work for multi-entity businesses, which must tackle a web of financial entities, intercompany transactions, and consolidated reporting? Let’s delve into the world of multi-entity on Xero.

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What is cross-entity bank rec?

Struggling with bank reconciliation in multi-entity businesses? Understand how cross-entity bank rec simplifies matching payments and invoices across group entities. Discover how Mayday BRAG helps finance teams save time, reduce errors, and streamline reconciliation in Xero.

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What are intercompany loan accounts?

Intercompany loan accounts occur when multiple business entities, usually companies, are connected by shareholding and form a corporate group

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What is loan account automation?

Loan account automation ensures that intercompany loan accounts will never again fall out of balance. Read on to discover how loan account automation works

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