Back Costing is Business Fitness
New Year, New NextMinute with the release of the highly anticipated Back Costing feature. This article is
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nsurprisingly, the most common New Years Resolution of the past 10 years is self improvement. Approximately 43% of people set the New Years Resolution to live healthier & lose weight, but only about 8% follow through. They say, to lose weight is 80% diet and 20% exercise. A job site is a bit the same - 80% is labour and 20% is admin. To see success you need to finish the job, but if you cut corners on the admin, it won’t stop your success, it will just slow it down.
8% that are effectively following through. Back Costing manually is like doing a burpee, you know it is good for you, but does anyone actually want to do them? Until now... Back Costing in NextMinute makes the exercise easier. 1) Create Jobs & Tasks from the quote When creating a job from a quote, the system asks if you would like to create tasks too. It will create the tasks from the headings of each section within the quote.
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Emily Mason, Partner Manager, NextMinute I have worked in the cloud accounting space for the past 8+ years, in both an accounting & bookkeeping firm and within the Xero Ecosystem. I see NextMinute as the upcoming job management system for trade & construction clients because of the excellent Xero integration for timesheets, invoices and bills and accessibility on iOS, android, tablets and computers.
So, if your clients work in stages and each section in their quote represents a stage, then these sections can be set up as tasks with a single click. 2) Link charges straight from Xero Whilst NextMinute can capture costs, it is not a must, however, having costs in the accounting software is. Getting your clients to enter their bills directly to Xero or MYOB using AutoEntry, Dext or Hubdoc, is an efficient process, and then
I have learned from conversations with partners & clients that when it comes to Back Costing, people Back Costing fall into one of three is manually groups: like doing a 1 - Not doing it burpee 2 - Using spreadsheets 3 - Have a software with a back costing feature. Using spreadsheets to back cost is almost the same as just not doing it. Manually filling out spreadsheets can lead to human error, the time it takes is enough of an excuse not to do it, and if you don’t, who will notice? And that leaves group 3, about
68 / Issue 30
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