Xero is a popular accounting software and used by many businesses worldwide. It is also used as a management tool and hence Xero for project management is hot skill to have. In this blog post we at Meru Accounting as a leading Xero expert in India giving you more information about project management.
For daily jobs, small businesses and accountants consider Xero, which is a cloud-based software as their backbone. Xero which has been created for accountants in effectively handling their customers recently started a new form of integration, which is known as Xero Projects. Xero Projects has been created for businesses and entrepreneurs. Xero Projects has the objective of driving profitability in each job by being able to easily track costs and time.
Set Up of Xero Projects: The major user could be setting up projects, managing subscriptions relating to projects, and restoring access to projects whenever they need. Subscription of projects is priced on the basis of active users.
Creating and Managing Projects: The initial fact in making and handling a project is assigning a particular contact to the project. Ensure that you are at first adding all of the contracts prior to making a specific project. Making additions to the project is considered to be simple by just clicking the ‘All Projects button’ & finally clicking the ‘Add New Project’.
Invoicing of Projects: Projects permits one in adding one deposit for each project. For future invoices, such a deposit could be used as a credit. One could base the amount being deposited to the estimate of the project or one could be adding a customized rate.
Reporting of Projects: Reports decide the project’s profitability apart from providing an overview pertaining to the progress and activities of the projects. The role of the user decides the accessibility of each of the users for creating reports.
1. Assigning costs by Projects rather than just by contacts.
2. Using the budgeting feature for each project.
3. Time recording and accruing time per project
4. Automation of accounting by recognizing revenue directly from Project manager
To know more about project management with Xero contact Meru Accounting today!