On 10th June 2024, we’ll be launching new pricing plans for Mayday. But before that happens, we wanted to give you a heads up on what to expect.
One year ago, in May 2023, we launched a new product, Balancer, to help multi-entity Xero users keep intercompany balances in check.
We made the core functionality of this product free in order to get it into the hands of as many customers as possible to help us test, optimise and build the leading product for managing intercompany balances for multi-entity businesses using Xero.
Over the past 12-months we have been continually introducing new features and functionality to make it easier for teams to:
- Automate intercompany balance sheet recs
- Easily spot any discrepancies
- And post any adjustments back to Xero in one-click
And today we can confidently say that Mayday Balancer is not only the leading product in the market, but it is loved by the customers using it.
Just check out our latest reviews.
That’s why on 10th June 2024 we will be adjusting our pricing plans to reflect the value users are getting out of the platform. This will in turn allow us to continue to reinvest and release more features to serve our customers and achieve our mission to mend month end.
What’s changing
In short, we’re releasing 5 plans that are more tailored to the use cases of different organisations, so you only need to pay for what you use.
- The Free Plan will remain, but will be limited to 3 intercompany balances of the same currency. We have always intended to keep a free plan forever, so we’re proud we can continue to provide this to support small growing businesses.
Price: FREE - The Passive Plan is designed to serve groups with more complex intercompany balances, but a relatively low-volume of intercompany transactions. This will provide access to the functionality of Balancer, including different base currencies, multiple loans per entity, the ability to download reports and post one-sided fixes. Optional add-on bundles will also be available for those who need minor use of Recharger or BRAG.
Price: Starting from £14 / $27 AUD per month for 2 entities on an annual plan - The Active Plan is designed for groups with high-volumes of intercompany transactions. This will provide the full functionality of Balancer, including AR/AP matching, unlimited automated cost & revenue recharges with Recharger and an unlimited number of cross-entity bank reconciliations with BRAG.
Price: Starting from £34 / $67 AUD per month for 2 entities on an annual plan
- The Advanced Plan is designed to serve larger, more complex groups who have complex intercompany needs or require greater levels of support. You will get everything included in the active plan, plus bulk rule creation support, a 2-hr onboarding call and a dedicated Account Manager.
Price: Starting from £48 / $96 AUD per month for 2 entities on an annual plan
- Mayday for Accountants and Bookkeepers. We also have launched tailored packages for Accountants and Bookkeepers using Mayday. This will enable you to lock in a monthly price to use Balancer to serve 5, 20 or unlimited groups for one price. Plus, discounts of up to 50% are available for Accountants and Bookkeepers who upgrade their clients to Active or Advanced plans.
Price: Starting from £60 / $120 AUD per month for 2 entities on an annual plan
The prices above exclude any applicable sales tax. For more information on the new prices and plans before they kick into play, reach out to a member of the team for a tailored quote.
What this means for you
For existing customers
Don’t worry, the old pricing will be locked in for monthly subscribers until 1 Jan 2025. If you are on an annual plan, you will stay on the current plan until your contract renews.
If you have any questions or would like to take advantage of the current pricing by locking in an annual subscription, reach out to the team who will be happy to advise what your price will be under the new plans.
If you are currently using the free plan
If you have 3 or less intercompany balances of the same currency, it’s business as usual. You will maintain access to the free plan to support your business.
If you have 4 or more intercompany balances, a member of the team will be in touch in the upcoming weeks to help find the best plan for your business.
We hope you've enjoyed using the product for free to date. To thank you for choosing Mayday, we will be offering a generous discount to our free plan customers who upgrade to the new package before 10th June 2024.
Not yet a customer?
If you’re not yet a Mayday customer, don’t worry, you’ve got until 10th June 2024 to lock in the best price for your business. Ready to subscribe? Simply click here to sign-up.
Have questions? Let us know
If you have any questions about the new pricing or would like help taking advantage of the existing pricing before it expires, we’re happy to help. Just email support directly at support@getmayday.com.
