For small businesses, the time spent in calculating and generating quotes to prospective customers, entering information into one or more software programs, calculating progress payments and issuing invoices – – the list goes on – – – can take up a lot of valuable time. Then, on completion of the project, did you remember to include all costs in final invoicing?

Do you really sit down at the completion of a project and invest in the time to review how the project went in relation to profitability? Is it easy for you to obtain the information you need to see the profit you made on a project, remembering to take into account any employees that worked on the job?

Xero Projects could be for you!

Xero Projects is a profitability tool inside Xero that enables you to track time and expenses against your work as projects.

It simplifies

  • quoting for work,
  • data entry,
  • getting paid, and
  • monitoring project profitability in real time.

Xero Projects is

Fully integrated in Xero, which

  • Makes use of Xero features – quotes, expenses, invoices, payroll and reporting
  • Allows real-time costing of employee time and expenses
  • Ensures budgets are accurate
  • Avoids duplication of data entry between accounting system and project systems
  • Avoids missing charging customers for job expenses and / or time

Xero Projects allow you to

  • Create and track jobs easily
  • Reduce the frustration of tracking time and expenses against jobs
  • Generate progress payments easily based on amounts or % – Get paid faster!
  • Ensure all project expenses are included in the project and are accounted for
  • Track profitability across different projects and estimate costs before work begins – Quote accurately to ensure profitability for your project
  • Create quote templates for faster quoting and create consistency in quoting for similar jobs
  • Shows the exact level of detail to share to clients
  • Link invoice line items, bills and spend money transactions
  • Recover staff expenses by assigning them to your projects
  • Add Xero inventory items to projects
  • Link existing quotes or create new ones
  • Add customer and supplier credit notes
  • Generate your project reports from within Xero reporting

An example workflow for a project, from start to finish:

  1. Create a project for a new or existing contact.
  2. Assign the relevant staff members to the project.
  3. Add tasks to break down the work. Estimate your time and set your charge rate for each task.
  4. Estimate your expenses and send the customer a quote.
  5. Record time worked against tasks.
  6. Add actual expenses and track them back to your estimates.
  7. Invoice your customers and accept online payments.
  8. Monitor your project profitability in real time.

Want to learn how to add XERO Projects to your business? Train with us!

Learn XERO online with MIEBS!

Xero Training – One day courses – Book HERE

We offer 4 Xero courses delivered by a ATO Registered BAS Agent with extensive experience in using and training in XERO:

  • XERO in a Day – how to use XERO day to day, and the fundamentals of bookkeeping.
  • Managing Payroll Using XERO – how to set-up and process payroll, and meet regulatory reporting using XERO
  • Smarter XERO – how to sort out issues, set-up and use Fixed Assets, Hubdoc, Budgets, Manual Journals and much more
  • Introduction to XERO Projects – how to setup and effectively cost manage small projects

Do you need assistance with getting yourself organised? Contact Elke on 0410 819 783, Email
Our expertise is in systems, XERO training, MYOB and Microsoft Office applications.

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