Once you’ve logged in to Mayday with your Xero or QBO account, you can get started by creating some Recharge rules. This lets Recharger know which transactions to recharge and where to recharge them to.
Overview
The first section of this article has a brief overview of the steps you'll need to follow to create recharges. Further down this page, you'll find video demos on how to do these steps for each type of recharge.
First, choose the type of rule you want to create. There is a video demoing how to set up each of the rules further down the page:
Expense rules
Revenue rules
Balance sheet rules
Mayday rules
Specify exactly how Mayday can find the transactions that you want to recharge, using any combination of:
Account code
Tracking category
Contact
Assigned to
Line item description
Reference
Specify which entities will be recharged.
Mayday needs to know which account codes to post the recharge to, and how to distribute the recharges.
You can use custom apportionments on a rule-by-rule basis, or use set apportionments which is will be covered in the next step.
For a more in depth look at creating recharge rules, see this helpful article.
Continue to Step 2: Setting Up Apportionments once you're ready.
Expense rules
Expense rules dictate how expenses incurred by the entity are recharged to other entities in the recharge group. These can be recharged at cost, or cost plus
Revenue rules
Revenue rules dictate how income generated by the entity is recharged to other entities in the recharge group
Balance sheet rules
Balance sheet rules are used to recharge costs in balance sheet codes (most likely asset codes) rather than P&L codes. This would mean that these costs wouldn't hit the P&L of the original entity when they were wholly for the benefit of another.
Mayday rules
Mayday rules are for regular, fixed-amount recharges, for example, a management charge, and they don't look up from source transactions in Xero in the same way as expense, revenue and balance sheet rules do.