Mayday, a leader in accounting automation for multi-entity businesses scaling with Xero, today announced the launch of a groundbreaking new feature for its popular Mayday Balancer product: AR/AP matching. This powerful enhancement allows businesses to effortlessly view and reconcile intercompany Accounts Receivable (AR) and Accounts Payable (AP) balances across multiple entities, ensuring consistency in overall balances and individual transactions.

The AR/AP matching functionality expands Mayday Balancer's existing account code matching capabilities, offering three key benefits:

1. Unified monitoring of intercompany AR/AP on the Balancer dashboard
2. Rapid identification of discrepancies
3. A robust safety net to prevent AR/AP imbalances, facilitating smoother month-end and year-end consolidations

"Our new AR/AP matching feature represents a significant leap forward in multi-entity accounting for Xero users," said James Scott-Griffin, Co-founder and CPTO of Mayday. "By automating the intercompany AR/AP reconciliation process, we're eliminating the need for time-consuming manual matching of intercompany transactions, allowing finance teams to focus on more strategic tasks."

The feature integrates seamlessly with Xero, automatically pulling data into Mayday Balancer's unified dashboard. Users can easily drill down into discrepancies, instantly
highlighting relevant individual invoices and bills with outstanding balances.

Early adopters have praised the new functionality. Ernest Chunge, Financial Controller at Carbiz, commented: “I’m so impressed with AR/AP Balancer. I hadn’t really comprehended how much time my team wasted clicking back and forth between multiple Xero files with workarounds like incognito mode. Being able to easily and quickly tweak, see, and click through to multiple entities to see perfection across our intercompany balances is essential for an Accountant like me. Mayday has become an indispensable part of our group accounting process.”

AR/AP matching is available to Mayday customers on Active or Advanced plans. New users can experience the full suite of Mayday's multi-entity accounting automation tools, including the new AR/AP matching feature, with a 30-day free trial.