If you ever have a situation where your loan balances in Xero do not agree, but your loan balances in Mayday appear to balance, you might have a cash-in-transit situation.
What is a cash-in-transit situation?
When Mayday's intelligent matching looks for a match for any transaction, we consider anything within 7 days either side of it.
That means we could match a transaction on one side of the loan to a transaction which happened in a different month, on the other side of the loan.
How does cash-in-transit occur?
This could happen accidentally, if posting on different dates, but it usually is just part of doing business.
For example, if you sent money on the 31st of May internationally and it didn’t land until the 1st of June in the other organisation - then you would be dealing with this situation.
How does cash-in-transit appear in Mayday?
Whatever the cause, when this happens, we count it as “cash-in-transit”.
We’ll always show that there is cash in transit in the app with a dashed underline and the tooltip which gives the details, like so:
What do you need to do?
There is no action to take, just being aware of how this mechanism works should help to explain any differences between Mayday and Xero.