Once you’ve logged in to Mayday with your Xero or QBO account, connected all of the relevant Orgs and activated Recogniser in Settings > Product, you can get started by reviewing your settings
and editing them as necessary. The information you provide here will determine which transactions pull through to your inbox. We default as much of the information as we can, but it's a good idea to review it and make sure you're happy!
Deferred Revenue
Once you activate the product, we will enable it for all entities in your group. If you wish to disable it for any reason, you can do so using this tickbox:
Mayday will default to show Invoices, Journals and Bank Transactions on or after the group start date - but you can remove any transaction types which aren't relevant and you can change your start date for this product to whenever works for you (after the group start date). This won't affect the group start date.
Mayday will also default to all of your revenue accounts but you can add or remove these as you wish.
We can't default the Deferred Revenue account as they vary across entities, but you can add as many accounts as you use here.
Make sure you save any changes before leaving the page, using the save button in the bottom left corner
Prepayments
Once you activate the product, we will enable it for all entities in your group. If you wish to disable it for any reason, you can do so using this tickbox:
Mayday will default to show Bills on or after the group start date - but you can change your start date for this product to whenever works for you (after the group start date). This won't affect the group start date.
Mayday will also default to all of your expense accounts but you can add or remove these as you wish.
We can't default the Prepayment account as they vary across entities, but you can add as many accounts as you use here.
Make sure you save any changes before leaving the page, using the save button in the bottom left corner:
Import opening balances
For both Deferred Revenue and Prepayments you can import your opening balances.
Simply click the Create Google Sheet button in the relevant settings page under the entity you wish to import balances for:
and Mayday will generate a google sheet for you to input the information. For more information see this in depth article on How to Import Opening Balances.
Continue to Step 2: Review transactions in your inbox