Hi there, I’m Nick Roberts, I am an accountant who has been working in public practice for the last 12 years.
I was an early adopter of Xero in 2007, and have been working with this platform (as well as other accounting systems since). I would like to use my expertise to help people with their use of Xero and other accounting software solutions.
In this blog post I am going to look at the Project addon in Xero, that can be added for an additional cost each month.
Projects in Xero is a simple but functional project management tool, that can be implemented as a cost effective solution when you are first starting off.
Xero projects cost $10 for 1 user/mo + $7 for each additional active user / month. First month free for any number of users (only applies to existing Xero subscribers).
Six reasons to try the Xero Projects app
- Create and manage as many projects as you want
- Monitor job costs from day to day to stay on track
- Add task estimates and track budgets with ease
- Track time using a stop-start timer
- Turn logged time and costs into invoices
- Make project accounting easy with helpful reports
Why you should use Xero Projects
Tracking time and Costs on a Job Basis
Xero Projects, gives you access to a simple but functional job costing and project management system.
This allows you to allocate all costs and time for each Job / Project and ensures that all of these are charged correctly to your clients ensuring that you maximize your profitability.
Profitability of each project
Rather than waiting till the end of the year to see how you have performed, you are able to see the performance of each Job / Project in real time.
If a project is not performing as expected, then you can make changes as required to minimise your losses or how your other projects are approached.
Comparison of Actual to Budget
Rather than preparing a budget for your full year performance, you can prepare budgets for each project and compare the actual performance to budgeted performance as you go.
This allows you to have additional control of your financial performance in your business
It Saves You Time:
Being integrated into Xero and all of its other functionalities means that you have more time to focus on what you do best.
Which is to work on billable work.
I am now certified for Xero projects and can help you with implementing this or discussing if its right for your business, if you would like to make the plunge and look at introducing this to your business then please get in touch with me.
There will be an upcoming product spotlight on other apps that are more advanced Job / project management systems, this is a Subscriber only exclusive.
Thank you for your time in reading this, if you have any questions or suggestions for future posts please contact me at nick@zero-tohero.com or on 022 405 9312.
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