When one entity pays a bill that belongs to another, neither Xero organisation can reconcile it on its own. Mayday finds the bill or invoice in the right organisation, lets you match it from Xero's bank rec screen and creates the intercompany entries on both sides.
300+ reviews ⭐️⭐️⭐️⭐️⭐️
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Where Mayday fits alongside Xero
Xero handles bank feeds and bank rules inside each organisation. Mayday adds the cross-entity layer, so a payment in one organisation can be matched to a bill or invoice in another and both sides end up reconciled.
Bookkeeping
Accounting
Reporting
Built for groups where one entity pays on behalf of another
Match a bank line in one Xero organisation to a bill or invoice posted in another
Create the intercompany entries on both sides as part of the match, not as a journal afterwards
Spot intercompany balances that have drifted apart before they reach your consolidation
Powered by Mayday AIR
Our AI-powered engine transforms how you handle month-end operations, helping you save hours and eliminate costly errors.
First, AIR applies recognised accounting principles to make intelligent decisions like "should these transactions be matched?" or "should this have deferred revenue treatment?"
Then, AIR applies your individual business context, learning what's typically done in your specific accounting files to suggest actions tailored to your workflows.
How does Mayday handle intercompany bank reconciliation in Xero?
Reconcile across entities from Xero's bank rec
BRAG adds group-wide matching to the bank rec screen your team already uses.
Find the bill or invoice in whichever Xero organisation it was posted to.
Match it, or create it if it isn't there yet, without leaving the screen.
Covers the common group patterns: centralised payables, shared bank accounts and receipts collected for other entities.
Keep the intercompany side in balance
Every cross-entity payment leaves a receivable in one entity and a payable in the other.
BRAG creates the intercompany entry as part of the match, so both sides move together.
Balancer compares intercompany accounts across the group and flags any pair that drifts apart.
Post FX and interest adjustments on intercompany loans back to Xero in a click.
A clear trail for every cross-entity match
Each match records the statement line, the bill or invoice it settled and the entity each one sits in.
The intercompany entry created, and who performed the reconciliation, are recorded alongside it.
The reconciliation stays in Xero's own audit trail rather than in a separate system.
Group bank accounts can be traced line by line at year end, without rebuilding anything from email.
Mayday is the software that the Xero ecosystem was crying out for. It's the answer to a larger Xero user's prayers. It's now so easy and smooth to be able to generate our recharges each month.
If you're a multi-entity business using Xero, Mayday should be a default part of your tech stack. It massively advances Xero's capability in catering to more complex businesses like ours.
Finally a clean product for deferred revenue and prepayments. 5-stars. I love it. I've already recommended it to multiple clients.
Gamechanger software tool - I have spent years manually preparing and posting intercompany journals in Xero, but Mayday make this a seamless experience. Highly recommended if you have any intercompany activity with Xero instances and different currency group consolidations.
Love using Mayday. I'm so thrilled we chose them. They do what they say they will do, and they do it brilliantly. There's so much hyperbole in accounting technology. Lot's of apps out there make claims about being able to change your day to day life and they simply can't do it! Mayday are the complete opposite of that. I've been absolutely blown away. They marry a deep accounting domain expertise with a clear enthusiasm for delivering an amazing user experience. They are an absolute delight to work with.
I love Xero. I love Mayday. It's as simple as that. This is THE must-have app for any multi-entity Xero-using business. It's the perfect combination. Mayday is so well conceived. So well executed. You can just tell how much hard work has gone into thinking about and catering to all of the complexities of keeping intercompanies in balance and running recharges. Recharging is one of those processes that it's easy to automate badly. But Mayday has done an incredible job. Their product caters to our needs so well.
The intra-entity charges are a game changer for single entities. It removes all manual (boring) calculations at end of month, saving time to spend on more valuable services. Love it!
A superb suite of products for easing the challenges of multi-entity month-end in Xero. Brilliantly designed and simple to use.
As our business rapidly expanded across 5 entities and multiple currencies, I was drowning in manual accounting work. Their solution cleaned up all the chaos - I've got back hours every week not having to crunch numbers across companies. The support has been great too. Can't imagine going back to life before Mayday!
We have 43 entities, and Mayday has made the process of balancing loan accounts and managing inter-entity recharges incredibly easy. It's designed with multi-entity operations in mind, implementing Mayday has meant end of month is a lot more efficient by automating and cutting down time on manual processing and reconciliations.
We met the Mayday team at Xerocon Sydney. The benefits of Mayday Recharger were instantly clear to us. We got setup with a trial the next week. The team were very helpful with getting us up and running. Love the product. So easy to use. Comprehensive. Effective. It's slotted seamlessly into our tech stack. It's a no brainer for any multi entity business.
Mayday is a necessity for any multi-entity business on Xero. I only have 2 entities in my group but even so have a variety of recharges - Mayday simplifies and streamlines our month-end processes, and takes away any stress over our intercompany loan accounts.
We were tearing our hair out at month end with convoluted spreadsheets and manual processes to manage our inter-entity recharging for both our own, and our clients reporting. Mayday has really met a need to simplify and automate this task, as well as give visibility and consistency as to what has been on-charged.
The Mayday Deferred Revenue feature is simple, easy to use and very flexible, so it can handle any situation you throw at it, which was the case for our company. Most invoices follow a different revenue timeline and Mayday handled them with ease, we will definitely be using this tool going forward
“The reconciliation feature is really, really helpful. I could spend half a day, or a day even, just finding a single transaction. And that's gone, A: because the tool is good, and B: because we're using the BRAG feature, we don't get the mismatches in the first place. I can look at each business that we've got on its own two feet once a month rather than once a quarter”.
BRAG is the best product he's ever shown me!! I love the Xero bank rec. But situations where one entity pays a bill or receives an invoice on behalf of another were a nightmare of switching between Xero files. BRAG is a great addition to the Xero bank rec screen - giving me, my team and clients the Match and Create functions that we know and love on a multi-entity level.
We recently moved from Netsuite to Xero, and Mayday enabled us to streamline our complex multi-entity business like a dream. With their solution, we can now automate tons of manual tasks and ditch inefficient processes to really boost our efficiency. Mayday has been invaluable by ensuring accurate accounting records across all our companies and currencies with ease. Moreover, it provides automated intercompany reconciliation so we can quickly identify any mismatches and giving us the ability to drill into all the details.
Mayday has transformed our multi-entity accounting processes, and our team couldn't be more impressed. The onboarding was seamless, thanks to their responsive and supportive team. BRAG simplifies intercompany reconciliations, eliminating the need to switch between entities in Xero, saving time and reducing errors. Recharger and Balancer have fully automated intercompany accounts, replacing tedious spreadsheets and manual journals with just a few clicks.
Mayday has reignited our love affair with Xero and made it a great fit for us again. Congratulations Mayday on being such a great suite of products, as well as such a warm and helpful team to work with.
I was blown away by the power of Recharger and BRAG. So well considered. So elegantly designed. So powerful. The team were incredibly helpful in arranging a demo with the rest of our team. We immediately identified a client who would be a great fit to benefit from Mayday. That client has been similarly blown away by Mayday. This is such a great suite of products.
Before Mayday I would spend countless hours doing multi entity entries, and tracking each on a spreadsheet, it was SO tedious. Now with the press of a button, wowers & bam! Thank you MayDay for changing my world!
Reconciling our group's payments has always taken so long, and we never imagined that we'd ever be able to do it a a different way
We have c40 trading companies within the group many of which have inter company trade and recharges which is very easily dealt with by Mayday. The BRAG feature is exceptionally useful when clients inevitably pay the wrong the company! It's definitively saved us lots of time as well as ensuring all in in balance!
Mayday has not only streamlined our processes but also offered exceptional support that we genuinely value. We're so excited to see what product updates the Mayday team will deliver next.
Mayday has allowed us to speed up month-end and year-end. It is great to have a solution where we can see our consolidated entities in one place and make adjustments without jumping between xero files!
Mayday is an absolute game-changer! Mayday has saved us thousands of pounds and countless hours previously consumed by manual work. We were previously on Netsuite, but Mayday was instrumental in our decision to move to Xero to support our complex multi-entity structure. Their solution enabled the transition, allowing us to unleash Xero's potential for our business. Now with Mayday, we've automated countless manual tasks and eliminated inefficient processes, boosting efficiency exponentially.
I came across Mayday by chance and am so glad I did. As a multi-entity group with LOTS of intercompany transactions, recharges and reconciliations took up lots of time and were manual heavy processes - even the simple act of reconciling a payment between the two took multiple steps. With Mayday we no longer have that problem.
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.
When I saw about Mayday, I knew I had to test it out for my growing collection of multi-entity clients. I'm so glad I did. Mayday is a simply superb suite of products. I'm instilling it as a staple for any multi-entity client. Any mutli-entity Xero using business is missing a trick if they're not using Mayday.
The matrix view in Balancer is fantastic. We have 60+ entities, so a lot of loans - and I can see all intercompany balances at a glance. It's saved us so much time compared to the endless spreadsheets we used to rely on.
Loved by 300+ Finance Professionals
Mayday is the software that the Xero ecosystem was crying out for. It's the answer to a larger Xero user's prayers. It's now so easy and smooth to be able to generate our recharges each month.
If you're a multi-entity business using Xero, Mayday should be a default part of your tech stack. It massively advances Xero's capability in catering to more complex businesses like ours.
Finally a clean product for deferred revenue and prepayments. 5-stars. I love it. I've already recommended it to multiple clients.
Gamechanger software tool - I have spent years manually preparing and posting intercompany journals in Xero, but Mayday make this a seamless experience. Highly recommended if you have any intercompany activity with Xero instances and different currency group consolidations.
Love using Mayday. I'm so thrilled we chose them. They do what they say they will do, and they do it brilliantly. There's so much hyperbole in accounting technology. Lot's of apps out there make claims about being able to change your day to day life and they simply can't do it! Mayday are the complete opposite of that. I've been absolutely blown away. They marry a deep accounting domain expertise with a clear enthusiasm for delivering an amazing user experience. They are an absolute delight to work with.
I love Xero. I love Mayday. It's as simple as that. This is THE must-have app for any multi-entity Xero-using business. It's the perfect combination. Mayday is so well conceived. So well executed. You can just tell how much hard work has gone into thinking about and catering to all of the complexities of keeping intercompanies in balance and running recharges. Recharging is one of those processes that it's easy to automate badly. But Mayday has done an incredible job. Their product caters to our needs so well.
The intra-entity charges are a game changer for single entities. It removes all manual (boring) calculations at end of month, saving time to spend on more valuable services. Love it!
A superb suite of products for easing the challenges of multi-entity month-end in Xero. Brilliantly designed and simple to use.
As our business rapidly expanded across 5 entities and multiple currencies, I was drowning in manual accounting work. Their solution cleaned up all the chaos - I've got back hours every week not having to crunch numbers across companies. The support has been great too. Can't imagine going back to life before Mayday!
We have 43 entities, and Mayday has made the process of balancing loan accounts and managing inter-entity recharges incredibly easy. It's designed with multi-entity operations in mind, implementing Mayday has meant end of month is a lot more efficient by automating and cutting down time on manual processing and reconciliations.
Xero intercompany bank reconciliation FAQs
What is intercompany bank reconciliation?
Can multiple Xero organisations share one bank account?
How do you record a payment one Xero entity makes for another entity's bill?
Does Mayday's cross-entity bank rec work with QuickBooks Online?
Reconcile across the group with Mayday
Try Mayday free for 30 days, with no card needed, or book a demo with the team.