Xero’s accounting software developers have just announced a new time and job costing feature to its suite of products called Xero Projects.
Xero Projects is focused on the financial side of project management, integrating with contacts, invoicing, and very shortly bills and bank rec in Xero. You’re able to easily invoice within a project including fixed price, time and materials billing as well as the ability to issue deposits for a project. You’ll also be able to track time, monitor budgets and get insights by running the new projects reports.
Xero has produced this explainer video about Projects.
Get your billing right every time with Xero Projects
Track your time, enter expenses and record any deposits against each project so you can accurately bill on time. Cost projects and track budgets with ease.
Gain the insights you need to succeed
Monitor project performance with real-time tracking and key insights. Simple reporting gives you the information you need to keep on budget.
Enjoy the simplicity and savings of Xero Projects
Get everything you need to manage your project’s financials with one Xero login. Xero Projects is available at no extra charge through your accountant or bookkeeper until the end of 2017.
From January 2018, an introductory price of AU$7 per month will apply to the first user including all the features and reporting for projects. Additional users can added for AU$7/month per active user. When the introductory period ends an AU$10/month per user rate will apply for the first user and AU$10/month per user rate for each additional active user.
You can find out more and register your interest to access the product here.
New features in development for Xero Projects
Xero takes feedback from its clients very seriously and uses it as material for development of features.
Projects is a work in progress and Xero said that over the next few quarters it will implement new features and make improvements based on feedback. Some items on the list include:
- Integrations with Quotes, Expenses and Payroll and later Purchase Orders
- More flexible user permissions, timesheet insights and reporting, and project templates.
- iOS and Android App versions.
Xero said that Projects has been a huge undertaking, spanning many teams to get all the moving parts together. The development team said Projects would not have been possible without the feedback that’s helped shape this initial release.
Projects will be available at no extra charge until the end of 2017. After this, a monthly per user charge will apply – you can find out more on Xero’s website.
Xero will issue periodic updates on Projects and Dexterous Group, as a partner, will report as things develop.