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In this Clarity Calls session, we will be discussing the recording of time in XPM (Xero Practice Manager). The session will provide valuable insights and best practices on how to maximise efficiency when recording time in XPM.
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Efficient Time Tracking in XPM
Recording time accurately and efficiently is a vital aspect of using XPM (Xero Practice Manager). Rather than simply representing tasks or activities, tasks in XPM reflect the various types of time invested in work. These tasks are created and assigned to jobs, which enables firms to meticulously track the time spent on each job and analyse the efficiency and profitability of their services.
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What You Will Learn in This Session
The webinar delved into the two types of time that hold great significance in the accounting world:
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Billable Time: This refers to the time dedicated to client work. It's worth noting that all client time, without any exceptions, is billable, regardless of whether it's ultimately invoiced or written off. Client time includes activities such as client meetings, the preparation of financial statements, and tax planning.
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Non-Billable Time: This includes the time dedicated to non-client internal work, such as internal meetings, training sessions, and general administrative tasks.
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Please see the recording of the session below.
