Cloud accounting company Xero released yesterday its practice management software Xero Practice Manager which provided job, time and invoice management accountants and bookkeepers.
The rebuild includes features such as a quick-add time billing menu, global search and a work-in-progress (WIP) dashboard.
The program, a rewritten version of Workflow Max integrated into the “green” Xero interface, is free to Xero partners with Silver status (minimum 25 Xero clients) or higher.
Xero claims Practice Manager is more tightly integrated with the client accounting Xero program which increases the efficiency of the compliance process. The practice management tool supports firms moving from an hourly pricing model to a fixed-fee, value-based pricing model, although time-based billing is still included.
“Fixed-fee arrangements are also available for professionals who want to take advantage of the growing customer demand for this pricing model” Xero said in a company blog post.
Earlier this week Xero claimed it would soon release the first version of company tax returns for Xero Tax, the third arm of Xero Practice Studio, an integrated practice solution which includes Practice Manager and Xero Workpapers. The first version will not include schedules and worksheets for Company Tax Return FY14 including Interposed Entity Election and R&D Schedule, which are due later in the year.
A short introductory video for Practice Manager is below.
