In order run a streamlined business, be able to plan and meet your financial goals and get you own time back, it is important to know where your jobs are at. If you are in the Trade and Construction industry and you have pain points now, this article is worth a read and may well solve at least some of your problems. In this post we will be covering some ‘pain points’ you may have, how NextMinute will come to your rescue and how to sign-up for a free demo.
What is NextMinute?
NextMinute is a cloud-based software solution to managing your trade business all in one place. What does cloud-based mean? You can access NextMinute via your smart phone, computer or tablet. No need to have the solution on your computer only. And most importantly no need to keep it in multiple paper based files. Being cloud-based means you can access your business anywhere on the internet. Scary thought? My next blog will be on what to look out for and ask the right questions to ensure your data is safe. This all in terms you can understand.
Addressing Your Pain Points
Juggling jobs in your head
By recording timesheet entries, supplier invoices, preliminary and general costs as they happen – you know where you are at in order to communicate with your customers on a regular basis and be able to answer queries when required.
Paper invoices – increased risk of error and not so professional
As an invoice can be created directly from either a quote, or time and materials loaded against a job, there is less room for error. Charges will not be overlooked resulting is missed revenue and you will look professional. As you send an invoice it can be accessed as a PDF file including payment terms and your business logo. In addition you are able to attached files such as supplier invoice copies or a Payment Claim exclamation. See our blog on payment claims for further info: https://www.bluewavesolutions....
By having your jobs up to date with current time and materials, your invoicing can be as frequent as you like. For example fortnightly invoicing will allow you to keep your cash flow up to date. You will be able to pay your suppliers on time with your clients paying you within the current month. Your clients will know where they are at in terms of what they owe instead of being presented with a huge bill down the track. This also builds your reputation as a professional and trusted business. As you approve and send your invoices from NextMinute they are pushed to your Xero accounting system.
I don’t know where my staff will be needed from week to week or what jobs I really can take on and when!
NextMinute allows you to see what tasks are scheduled when and even notify staff. The Gantt Chart is also another planning tool within NextMinute where you are able to set up tasks, give them dates and see where you are in the calendar month. You are able to view your staff resourcing levels and know when subcontractors are required. Depending on how you set your job tasks up depends on how detailed your view is and what communication functionality you can use.
Incorrect payroll and misallocated staff costs
Timesheets within NextMinute allow timesheet entries to be added by staff on time and applied to the job/task they are working on. These can be reviewed and signed off before entering into your payroll system. If you are using Xero or MYOB payroll this task may be automated. The timesheet entries against tasks/jobs in NextMinute will ensure you charge out your jobs accordingly and you are able to view where your staff are spending their time. Detail may be entered against the time entry and on an invoice resulting in transparency for your customers – especially in the case of variations.
Invoices hard to read and inconsistent
NextMinute allows you to setup templates for your invoicing to ensure they are consistent including print options to include or exclude information depending on the area of the invoice – e.g. main contract works vs variations. As a trade and construction business you should also insure your invoices are ‘payment claims’ to ensure you are paid and there are no disputes down the track. See our blog for further information: https://www.bluewavesolutions....
Supplier invoices are not on-charged
There are a few ways to load your supplier invoices into both your Xero accounting system and NextMinute correctly against a job/task.
Via Xero – supplier invoices may be pulled through from Xero onto the correct job/task
Via Mitre10 Trade website – a supplier invoice file may be downloaded from your Mitre10 trade account and loaded into NextMinute onto the correct job/task and then sent to Xero.
Via Placemakers account – as you purchase on your Placemakers account, NextMinute will alert you to load the invoices each time you log in. You then apply the invoices to the correct job/task and automatically push them through to Xero.
Within NextMinute you are able to manage the costs deciding which to mark as non-billable as required and attach a discount or markup.
Discounts and markups not applied correctly
NextMinute allows you to select charges on-mass and apply a discount or markup within the job. No need to apply the discounts and markups ad hoc and you may review your charges against a job as a whole to ensure they are correct for invoicing.
GST incorrect and not filed
Aside from your job management it is imperative to be tax compliant and pay/file your GST on time. By loading supplier invoices as they come in, creating client invoices on-line and streamlining your payroll entries all may be synched between NextMinute and Xero. This ensures your GST will be up to date and ready to file. Any other expenses and transactions that are non-job related may be entered directly into Xero. All will be reconciled in Xero against your bank statement either by yourself or your bookkeeper.
What if I need help?
At NextMinute offer free help either by phone, email or on-line.
Still wondering if NextMinute is right for you and your business?
Have we missed something? Let us know! Every business is different and NextMinute is constantly making changes to make your life easier. As a NextMinute Partner Blue Wave Solutions are more than happy to hear your comments or help you set up a free demo. We are here to chat about how NextMinute can help you.
More examples of what NextMinute has to offer can be found here: https://www.bluewavesolutions....
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