Xero Projects: The All-in-one Tool To Track Profitability On Every Job

Projects is one of the many add-ons for Xero, and this one is particularly useful for project-based businesses such as architects, engineers or designers, offering a simple job costing solution ...

What does it do?

- Using Projects allows the user to record the actual cost and profitability of a project

  • You can add tasks and expenses that are relevant to the project which allows you to manage the progress and completion of each task
  • Send a project quote direct to the customer
  • Invoice the client for any expenses incurred during the project, which you can invoice at a mark up to the cost incurred by yourself
  • Record any time spent on a project which shows you if you are on track or have gone over the allocated time for this project
  • Invoice the customer directly. There are three options to invoice; Invoice for a deposit, Invoice for time and expenses incurred so far or Invoice for the project amount
  • The status panel will give you a snapshot of the un-invoiced time and expenses and days left to complete the project

    Xero Projects can help with:

  • Over-spending: Allows you to keep track of time and expenses that have been incurred during the project
  • Cash-flow problems: Allows you to see how much the customer has been invoiced to date and how much is currently un-invoiced
  • Missed deadlines: Allows you to keep track of when a project is due, helping you keep to the deadline

    The user-friendly interface has many great features. We’ve picked a few out below:

    - Project Status

    Shows you the estimated project cost which you set up at the start of the project. It will show how much has been invoiced to the client, how much time and expenses you have incurred to date (as well as how much of these expenses have been invoiced) and also how many days are left until the deadline.

    - Time Tracking

    Any staff member can record time spent on a project by adding it to the project. This will ensure that this keeps your time and expenses up to date and will be reflected in the project status screen.

    - Expenses

    Keep track of your expenses incurred to date. With Xero Projects you can click into the specific expenses and see quite easily why you may have gone over the estimated expense budget..

    If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.