Posts

Showing posts with the label billing

Which pricing method to use?

Image
We have picked three different methods by which you can determine a price for your work. Unfortunately, there is no universal solution for it. It depends on the person and on a series of circumstances. However, we think this will help you find the best method for you:

primaERP has been busy the last couple of months

Image
Since it's been a while since our last update, we thought it was about time to inform you of the new features, we've "snuck" into primaERP.

Hourly rate vs. fixed price

Image
Is there a difference? When taking a job, one of the main concerns is (unfortunately) always about money- will I get paid enough and/or will I charge the right amount? It’s a difficult question that both project managers and freelancers face. To begin with, you should ask yourself what the price of any job you do consists of. It should incorporate your costs (material and time) as well as your profits. We will now focus on the projects for which time is the main resource, while material makes up just a part of the total cost. So how should we price the project? There are 2 ways how to do that, although I will try to show you that in the end, they should be the same.

Calculate your costs based on the value of your time

Image
Time is money Time is money; that we already know. It can be quite easily quantified: the cost of human time at work can be calculated as the ratio between the total monthly cost of an employee (wage, internet, phone) and average monthly number of working hours (168 if you count 8 hours per day and 21 workdays per month). There is however a „problem“: human aren´t machines, their performance can´t be divided into standardized man-hours. We are the furthest thing from dull manufacturing capacities, processing one task after another. We are influenced by the working environment, weather, time of day, hormones and thousands of other things. As a result we´re fairly unproductive one day and discover gravity or painting Mona Lisa the other.

10 principles to improve your pricing for (not only) starting entrepreneurs

Image
Set the correct pricing for your work Sounds interesting? Then you, like many others, have probably spent some time thinking about the best way to price your products or services. You might have hesitated to make a decision for some time and have questioned the decision the second you thought about it or even made it.  Did I make the price too high or was the price too low? Don’t worry about it, assigning the correct price to your service or product is one of the biggest challenges any starting entrepreneur has to face.

How to set precise hourly rates with BILLING

Image
In our previous article , we´ve described the best practices to organize your time, so that it can be tracked and evaluated with the least possible effort. Now, lets focus on putting a price to that time and see how we should bill our clients.

How to start with TIME TRACKING while BILLING by the hour

Image
When you work for your clients on a daily basis, either directly by the hour or indirectly by the fixed price for a project (which more or less reflects your time anyway), tracking your time is basically a must. Typical users from this category are consultancy companies, graphic design and architecture studios as well as most of the freelancers. If you find yourselves in the description above, prima ERP TIME TRACKING is a tool built for you. We have collected the best practices from our users and our own experiences, and put it into this article. We hope it will help you avoid the most common mistakes and learn as much as possible from prima ERP and from your time.

5 reasons why you should use time tracking

Image
Do you want to know why you should track your time, who gets more from adapting the whole time tracking concept and which fields find it really useful? Using our experience, we made a quick overview of what most companies and people need to really benefit from tracking their time.    We´ve prepared an overview of the needs of people and companies, who can benefit the most from using time tracking .

User story of the language school Hezkyčesky.com

Image
We wanted to know how prima ERP has impacted people and businesses since its launch 2 years ago. We asked a young businesswoman, Uljana, who started her language school business the same time as prima ERP appeared on the market, questions on how prima ERP was beneficial for her and how she uses it now. We would like to share her experience, maybe it can help you. :-)

primaERP BILLING is here!

Image
We want to show off our brand new application BILLING , which will be appreciated by anyone who wants to have order in their billing process. 

The Billing Process

Image
The Billing module offers a range of functions and tools that were made with an emphasis on simplicity, intuitive work and productivity. You should be able to not only create and manage your bills, you will also see how the time you track in the TIME TRACKING module flows and transforms itself into money when managing your billing process.

Creating and managing Bills

Image
One of the main features of prima ERP BILLING  is the possibility to create bills for your clients, which in addition to TIME TRACKING expands your possibilities in a great way. You can now easily transform all the time you track in TIME TRACKING into money on a bill.

How to make the most out of my time with pricing

The Pricing section in BILLING  is the perfect place for creating and managing your prices in a flexible way, creating combinations and exceptions that will later affect the way time records are priced in TIME TRACKING. It’s the perfect place to develop your pricing strategy.

Pricing

Pricing is one of the main features of  prima ERP  BILLING, which allows users to have full control over the price of the work by setting it using different criteria. It can be  used for the pricing of each project, task, client, user and activity based on the pricing level and its priorities.