Once you’ve logged in to Mayday with your Xero account, you can get started by setting up your Intercompany Balances. This lets Balancer know which accounts and contacts to monitor and cross-check for discrepancies.

To set up your intercompany balances, head to Settings at the bottom left of the navigation bar, and then to Intercompany Balances.

You can set up both account based balances and contact based balances, which are used for AR/AP. For more information on setting up AR/AP balances, please refer to this article. Multiple accounts or contacts can be used for either side of the balance.

Account-based balances can be used for reconciling transactions in BRAG or posting recharges, if your group has these products available. When multiple accounts are used for the balance, you must select which of the accounts to use for BRAG and Recharger.

In the account mapping settings, you can inform Balancer which account codes to post your FX and interest adjustments to.

Once you have set up your intercompany balances, Balancer will pull through the relevant data from your Xero organisation and start to cross-check your intercompany loan accounts.

Continue to Step 2: View discrepancies between loan accounts