Is Business Quiet? Need More Money/Sales? Use a Database!

When I started my first business in Sydney’s Dee Why in the early 1990’s, I was amazed that most restaurants and cafes, as well as other retail shops like dress shops, didn’t even know who their customers were!

Many business owners knew their customers by face, but they missed out on lots of opportunities to market and make contact with these customers when business was slow or they were overstocked. Are you working your database?

Continue reading Is Business Quiet? Need More Money/Sales? Use a Database!

Clear Out Albert, Cherie’s Getting Square! (PayPal Alternative)

There are so many wonderful ways business owners are using technology every day for their digital marketing, as well as point-of-sale (POS) and bookkeeping.

Last week I met Cherie. Cherie owns a relaxed cafe in the holiday haven of Forrester’s Beach, NSW, and she let me record a short video of a customer paying for their meal using Square.

Continue reading Clear Out Albert, Cherie’s Getting Square! (PayPal Alternative)

How We Create a Xero Training Course

MYOB AccountRight, QuickBooks Online and Xero come with job costing and job tracking functions allowing users to develop more accurate budgets and avoid cost blow outs.

I’m excited to be delving deeper into a micro course specifically targeting how you can manage on-the-job costs and track your project. This will be included in all of our Xero, MYOB and Quickbooks online accounting courses.

Real life case studies and micro courses

Project, Job Tracking, Job Costing, Job Reporting for Xero, MYOB & QuickBooks Online Training Courses
Project Milestone chart from Xero’s WorkFlowMAX Project Management Software

We design our training courses to be true to life. This means we create our training courses around real-life business examples, or case studies. This information helps you get a job in the real world.

In my last blog I talked about the job tracking function in Xero, MYOB and Quickbooks. In our Job Tracking and Projects Training Course, we’ve taken as our starting point a real-life situation where a tradie uses job tracking features in cloud accounting software to make sure he makes a profit from all his running around, allocation of staff, cost of stock and out of pocket expenses from trips to Bunnings.

The erection of a garden shed

Our Job Tracking and Projects Training Course case study highlights the seemingly simple example of the erection of a garden shed. Our client purchases the shed directly from a hardware supplier, then employs the services of a builder to deliver and erect the shed.

Job Tracking, Projects in Xero, MYOB AccountRight & QuickBooks Online Training Courses to report profits for tradies and builders - garden shed
Simple Job, but lots can go wrong and cost more than you earn

Although it seems very easy, just like life itself, the process is actually more complex than meets the eye. Here are the issues the tradie needs to consider:

  • Some of the products the tradesperson uses are stock (inventory),
  • others he needs to buy for the job,
  • others products and parts need to be purchased while on the job (expenses incurred by his staff).

Then there are circumstances which the tradie didn’t account for in his quote:

  • Some days the build is rained out and
  • some things end up taking longer than expected.
  • An extra staff member is required and the tradesperson then has to keep keep track of his worker’s timesheets,

Establishing the transaction costs

Just as this Cloud Accounting Training Course case study is based on a real life scenario, so the transaction costs (the cost of supplies, labour, expected profits and losses) are current and accurate.

In developing our course content, we actually liaise with the relevant suppliers, including various tradespeople, interviewing them and finding out the variations and possible blow outs they experience and the contingencies they implement to offset these.

We also draw on ATO benchmarking which compares the information gathered from your financial returns to the information the ATO gathers from all other similar businesses.

Make sure you subscribe to our Cloud Accounting Course blog to receive updates about the next steps we take when creating our courses!

Want to learn more about managing project costs and job tracking in the major cloud accounting software packages – Xero, MYOB and Quickbooks? See our new case study: https://ezylearn.info/how-it-works/case-studies-micro-courses/managing-jobs-or-projects-to-measure-profitability/

Why is job tracking and project costing so hard using MYOB & Xero?

In many industries, no two jobs are the same, making estimating job costs and resources tough. Job tracking is one of the best ways to develop an accurate budget and avoid blow outs.

But this can be hard work. Are the latest job costing and tracking functions in MYOB AccountRight, QuickBooks Online and Xero making life easier?

Job tracking functions in your accounting software

As its name implies, job or project tracking is a way of keeping track of, and allocating, all costs and incomes to a particular job or project.

Job tracking has numerous benefits. It allows you to stay on schedule, budget for costs and resources efficiently and work out job profitability.

Why job tracking can be difficult

Part of the challenge of job tracking is making sure that staff members responsible for invoicing, paying accounts, and payroll functions, know exactly how to allocate costs in a job. They also need to know which jobs are active at any one time.

How job tracking affects Accounts payable and receivable workers

We cover the skills needed to for clerical, administrative and accounts work in accounts payable and receivable in our Xero Advanced Certificate, MYOB Advanced Certificate and QuickBooks Online Advanced Certificate courses.

When it comes to job tracking, employees working in these accounts areas need training and awareness. If you have staff responsible for invoicing customers, they will need to know which job numbers to use.

Similarly, accounts payable staff who receive supplier bills and need to allocate the costs to the correct jobs or cost centres.

Payroll staff, too, are involved in job tracking as they receive employee timesheets and need to allocate hours worked to the correct jobs.

How the different accounting programs “job track”

MYOB AccountRight Job Tracking

You can track job costs and revenue using the Jobs function of MYOB AccountRight. This is available in the Lists menu. (Note: Job tracking is not available in MYOB Essentials.) The Jobs List in MYOB AccountRight provides a snapshot of the profitability of each job.

We cover job tracking in our MYOB BAS & Reporting online training course.

Xero Projects or WorkFlowMax

Xero, too, has its own much awaited job tracking function, called Xero Projects. The introduction of Xero Projects has been great for those wanting to make the move from MYOB AccountRight.

However, Xero Projects isn’t exactly like tracking costs by job in MYOB. The Xero Projects module tracks time and expenses and a billing process generates invoices. However, you can’t track job costs by line on each invoice.

You can overcome this by creating tracking codes in Xero which would allow you to allocate costs/income as appropriate. This only becomes a little unwieldy if you run lots of different jobs. An addon like Workflow Max may be worth considering for these kind of operators.

Read about some of the other project management tools you can use.

Overall, however, Xero’s more recent offerings, like Xero Projects, are making it increasingly competitive against MYOB. We’ve written a lot about the comparisons between MYOB AccountRight and Xero; it’s a heated topic among small business owners and bookkeeping businesses!

QuickBooks Online

We’ve talked before about how QuickBooks is comparable with Xero. Like Xero, it also has a Projects feature, which is available on a QuickBooks Online Plus subscription. The QuickBooks Projects screen provides a snapshot of the profitability of each job. A project name and customer is required to create a new project.

We’re currently creating a short course on Job Tracking, Job Costing and Projects

If you are a current EzyLearn student you’ll be thrilled to learn that we have a new case study in development that will teach you how to manage projects for tradies like builders, carpenters etc.

Learn more about our latest Micro Course Case Study and make sure you subscribe to receive updates on its progress.

We are creating a new Job/Project Tracking training course for each of our Xero, MYOB and QuickBooks Online Courses.

Should You Send Reports to Late-Paying Clients?

Want to learn how you can really manage late payers? Simply by reconciling more regularly, you can use a “real time” snapshot of your cash flow in your accounting software, rather than relying on your bank balance.

Continue reading Should You Send Reports to Late-Paying Clients?

Are EzyLearn students just like YOU?

‘Social proof’ is testimonials, reviews and feedback of others, that vouches for the product or service we’re thinking of buying. Social proof backs up the fact that what we’re considering buying is what it says it is.

Come see some social proof about EzyLearn by meeting some students from the past few weeks
— you just might have a lot in common with them.

Continue reading Are EzyLearn students just like YOU?

Why such cheap online Xero & MYOB courses?

Good quality can be cheap and poor quality may be the most expensive

OFTEN IN LIFE we’re told that if something seems too good to be true then it probably is. Along the same lines as this is the expression that you get what you pay for. Indeed, I’ve commonly used the phrase: “Pay peanuts and you’ll get monkeys” but naturally, there are exceptions to this and plenty of cases where low cost can simply mean low cost – without meaning that quality or value has been compromised.

Continue reading Why such cheap online Xero & MYOB courses?

Does Your Family Support Your Study?

Online MYOB Courses are flexible but…

ONLINE TRAINING IS one of the most convenient ways for busy people to study. While some people take to it naturally, for others the flexibility and freedom it affords itself is a learning curve.

The key to successful online training, however, is family support and we’ve noticed that many students for our Xero & MYOB Courses are parents who are stretched for time.

Continue reading Does Your Family Support Your Study?

How to nail the job search process using SEEK’s advanced job search features

I was speaking with someone who just landed a part-time job, in-fact a contract position, even though the job was advertised as a full-time job.

The job seeker was telling me about the advanced new features of Australia’s leading job board, including:

  • New Profiles (just like your LinkedIn Profile)
  • Resume Scanning
  • Job Recommendations
  • “You may be a strong candidate”
  • “Your application is unlikely to proceed further”
Continue reading How to nail the job search process using SEEK’s advanced job search features

Learn Xero in less than 5 days

Xero is complicated, let’s be honest. I know that Xero tell you the software is beautiful and simple to use but in reality it’s accounting software and if accounting software was easy then everyone would have their BAS’s lodged on time and have no credit risk issues.

It also depends on what kind of past experience you’ve had with accounting and bookkeeping work, but there is a way to up-skill in Xero quickly.

Continue reading Learn Xero in less than 5 days

How Does QuickBooks Compare with Xero?

ONE WOULD THINK that an accounting software program that is actually developed by accountants would be the best. However, some believe that the user experience is better with QuickBooks and Xero.

We’ve previously blogged about how QuickBooks accounting compares with MYOB. We’ve also done a comparison of all three accounting programs — MYOB, Xero and QuickBooks.

In doing so, it’s interesting to note that QuickBooks, for small business owners, at least, was the clear winner against MYOB in terms of reporting and user experience. But how does QuickBooks stack up against the increasingly-popular Xero? You may be surprised at the results.

Continue reading How Does QuickBooks Compare with Xero?

I’m a Bookkeeper – How Do I Find Good Work?

As mentioned in an earlier post, job boards offer the best-quality jobs for people in professions that translate to any industry; and this includes bookkeeping and accounting jobs.

And as another post showed, there’s a vast number of bookkeeping jobs posted to those sites every day, be it for casual, part-time or full time work. In this post I’m going to explore some ways to do well in the job market. Continue reading I’m a Bookkeeper – How Do I Find Good Work?

Bookkeepers Need to Know All Cloud-Accounting Systems

GONE ARE THE DAYS when a bookkeeper only needed to know their way around MYOB. Since the internet democratised the accounting software market, abundant MYOB rivals have appeared.

But while there are close to a dozen cloud accounting systems on the market, most bookkeepers — thankfully — will only need to know their way around three: Xero, MYOB and QuickBooks. If you’re looking for a course or training resource on these programs we have a combo offer.

Continue reading Bookkeepers Need to Know All Cloud-Accounting Systems

ANNOUNCEMENT: Cert IV in Bookkeeping for $899 **Limited Time Only**

EZYLEARN HAS PARTNERED with a registered training organisation (RTO) to provide Cert IV in Bookkeeping!

However, previous to this we have consciously made the decision NOT to become a Registered Training Organisation because it was surplus to our needs. In other words, not being an RTO has never stopped us helping thousands of students go through our Bookkeeping Courses — as well as Microsoft Office and Marketing Courses — and focussing on creating great learning journeys using real world scenarios

Continue reading ANNOUNCEMENT: Cert IV in Bookkeeping for $899 **Limited Time Only**

SPECIAL OFFER: MYOB, Xero & QuickBooks Online Courses ALL for One Low Price

The Internet has spawned several cloud accounting software program all over the world including:

Continue reading SPECIAL OFFER: MYOB, Xero & QuickBooks Online Courses ALL for One Low Price

Xero, MYOB, ERPs and Supply Chain Tools

ERPs, or Enterprise Reporting Planning systems, are divided into three categories or tiers. Xero, MYOB, QuickBooks and other cloud accounting software used by small businesses, sit at the low end of the scale; they’re tier three ERPs.

Xero is using it’s 3rd party app integrations and its API to climb up the ERP food chain and some good bookkeepers are being dragged up along with it. Continue reading Xero, MYOB, ERPs and Supply Chain Tools