26th September, 2024
As the chill of winter starts lifting, it’s the perfect time for tradies to work on getting their business affairs updated and all in order.
With summer just around the corner, bringing with it a surge in consumer spending, now is the ideal moment to streamline your operations and get on top of your financials.
Let’s dive into how job management software, particularly MYOB’s offering, can help you achieve this and set you up for a bumper summer season.
Winter often brings a natural lull in business for many trades around the country.
While this might seem like a setback, it’s actually a golden opportunity to focus on the back-end of your business.
With fewer jobs on the go, you’ve got some breathing space to step back, assess your processes, and implement new systems.
By the time summer rolls around and business picks up, you’ll be running like a well-oiled machine, ready to take on the influx of work with confidence.
Job management software like MYOB’s can be a game-changer for tradies and is one of the top elements worth putting in place before consumers really start to spend up later in the year.
Job management software is not just about keeping track of your jobs; it’s a comprehensive tool that can help you manage every aspect of your business.
This software brings all your business operations under one roof, digitally.
That means no more juggling multiple spreadsheets or losing important information in a sea of paper.
With everything in one place, you’ll have a clear overview of your business at your fingertips.
Joe Ellis, an MYOB Product Manager, notes that this type of software has a big impact on the long-term prospects of your business, too.
“Job tracking allows you to stay across the income and expenses of your projects, ensuring you stay profitable,” he says.
Still need some more enticement to try job management software? Here’s the lowdown on some of the prime ways it can help.
One of the biggest benefits of job management software is the ability to streamline your quoting process, so you enjoy less stress and hassle.
With MYOB’s solution, for instance, you can create professional quotes quickly and easily.
The software allows you to input estimates for your labour costs, materials costs, and other key expenses, ensuring that every quote you send out is accurate and profitable.
This saves you time and helps you win more jobs because you can respond to customer enquiries more quickly.
“With powerful features that give you end-to-end visibility, MYOB Business takes the guesswork out of managing your work in progress,” Joe says.
One of the biggest headaches for many tradies is invoicing. It’s time-consuming and often gets pushed to the bottom of the to-do list, leading to cashflow issues.
With job management software, though, you can create and send invoices with just a few clicks.
By keeping track of all your job details, including materials used and hours worked, you can ensure your invoices are comprehensive and you don’t forget to charge for some elements.
Joe notes, “Once work starts, simply use MYOB’s Jobs technology to keep track of your hours and project costs to ensure invoicing is easy.”
Plus, with digital invoicing getting to your clients in a matter of minutes, you’re more likely to get paid faster, further improving your cashflow.
Perhaps the most valuable aspect of job management software for many tradies is the financial insights it provides.
MYOB’s software gives you real-time visibility into your business’s financial health.
You can see at a glance which jobs are most profitable, where you’re spending the most money, and how your cashflow is tracking.
This information is crucial for making informed business decisions and identifying areas for improvement.
“Once you start using job tracking, insights become instantly available with a powerful real-time reporting suite that gives you control over your cashflow and highlights where you need to prioritise profitability,” Joe explains.
“Better data means better decisions, so it’s always good to stay on top of your cashflow with Job Tracking in MYOB Business.”
Over time, you’ll also build up a wealth of data about your business and the jobs you’ve completed.
This information can help you make strategic decisions about which types of jobs to prioritise, how to price your services, and where to invest in your business in the future.
After all, your focus should be not just on getting through the next busy season but also setting your business up for long-term success.
Another benefit of getting your job tracking and financials sorted now is that you’ll be well-prepared for tax time when it rolls around again.
With all your income and expenses accurately recorded in your job management software, preparing your tax return will be much simpler.
You’ll have all the information you need at your fingertips, potentially saving you money on accountant fees and ensuring you don’t miss out on any deductions.
By implementing job management software now, you’ll be well-prepared for the summer rush.
You’ll have streamlined processes in place, a clear understanding of your financial position, and the ability to take on more work without feeling overwhelmed.
This means you can make the most of the increased consumer spending that typically comes with the warmer months.
MYOB offers support and training to help you get up to speed quickly with job management software. You can check out this page for some initial tips on getting started.
Once you’re familiar with the system, you’ll wonder how you ever managed without it!
Your future self will thank you, too, when you’re sailing through the summer rush with ease and watching your profits soar.
Don’t let a lack of data eat into your margins. Access insights about all your jobs, so you can prioritise your most profitable work. Start your 14 day free trial today.
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.
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