Managing projects can be one of the most complicated aspects of doing business. Many businesses are already using Xero to help with bookkeeping. However, did you know that there is also a project management feature? This is a chance to drive profitability by being able to track time and costs associated with every job that you do.
Track and Understand Your Numbers
You may feel as though you never have enough time to figure out just how well you’re doing. You see the bottom line, but that doesn’t tell you nearly enough. If you’re failing to make money at each project that you’re involved in, you’re not doing your bottom line justice.
Xero offers Projects, which is fully integrated. You can track an unlimited number of projects, too. It’s straightforward, allowing you to track the time and job costs. If you don’t like the idea of working with a ton of spreadsheets, this could be the answer you have been searching for.
Fixed price and time and expense invoicing methods are supported. You can assign your actual invoices, bills, and bank transactions to get a transparent view of what you’re spending. Plus, you get the visibility across all of your jobs to be able to track them more effectively.
Just as Xero for bookkeeping is stored in the cloud, so is Projects. You can access everything on iOS or Android, ensuring you are able to see what’s going on regardless of what device you’re on or where in the world you might be.
Focus on Finances
Because Xero Projects integrates with Xero, all of your finances flow from one to the other. You can monitor your projects in conjunction with the budget that you have laid out. You also can see your job costs without having to enter data two and three times. This also cuts down on the number of errors that you might otherwise have in your cash flow projections if you were using a spreadsheet.
Manage Access Levels
When you’re dealing with project management, it’s critical that you have access levels. The good news is that Xero provides you with three levels. This allows you to identify who on your team should have access to what information. A project manager may only need to see how they’re doing while the CFO should be able to physically change budgetary information.
What’s really great about Xero is that there are some incredible changes taking place. New features are being added based on receiving feedback from those in the field who are already using Projects. You can look forward to such things as time sheeting insights and reporting as well as being able to pull payroll timesheets in. If you use Xero Quotes to quote different projects, that information will be able to pull into Projects, too.
It’s critical that you work smarter. Technology is capable of providing you with greater insight into all that you do. If you don’t like using spreadsheets and you don’t have the visibility that you need into all of the projects that you’re running, Xero offers a solution.
You don’t have to implement everything on your own. Using a Certified Xero Advisor will ensure that you’re able to unlock all of the benefits offered by Xero. Plus, you can make sure that any historical data can transfer over so that you don’t miss out on the history.
Learn more about how Numbersowl can help you with Xero Projects by contacting us today. We have the means to help you achieve high growth by implementing a better software solution. Plus, we provide you with post-setup support so you can truly benefit from what Xero has to offer.