How I
Stacked It

Leanne Edmonds

Financial Controller at Projectworks

Introducing Projectworks

Projectworks is an all-in-one platform that helps professional services businesses plan, track and optimise their projects, people, and profitability by combining project management, resource planning, and financial forecasting into one intuitive system.

Leanne told us, “We’re a lean finance team, so my day-to-day involves BAU work like overseeing the finance function, handling month-end and investor reporting and managing tax and audit work; while also tackling larger strategic projects like fundraising, transfer pricing, and navigating US compliance.

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Mayday for Month End

The BRAG feature is a lifesaver during the month, eliminating the need to switch between Xero entities to reconcile intercompany payments (and avoiding those mid-task distractions). Balancer makes it easy to revalue our FX intercompany balances in a single click. I’ve also trialled the new Prepayments and Deferred Revenue features and am excited to incorporate them into our month-end processes. I can’t fault Mayday at all.

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Joiin for Consolidated Reporting

We have a simple structure with just three legal entities, but two different currencies make things more complex. Joiin has improved significantly in recent months, especially with the revised reporting feature, which is far more flexible than before. Once month end is closed, I can quickly produce consolidated accounts in both currencies. It would be great to have even more flexibility to replace reports still being produced in Excel, such as a direct cash flow statement.

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Airwallex for FX

‍The newest addition to our tech stack, we’ve recently started using Airwallex to receive and pay in foreign currencies, saving on FX fees while also benefiting from natural hedging.

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Projectworks for timesheets, expense claims, and leave management:

We’re big advocates of putting ourselves in our customers’ shoes, so we use Projectworks, our own product wherever possible.

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BeanBox for Recurring Revenue:

As a SaaS business, Bean Box is a handy tool that lets us easily see our forecasted recurring revenue based on the repeating invoices set up in Xero.

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Stripe for Payments:

Stripe enables our customers to pay by credit card, set up autopay, and gives us one-click reconciliation in the bank rec for multiple payments.

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Gusto/iPayroll/Cloud Payroll/Remote.com for Payroll

We have payroll in 4 jurisdictions and have added payroll systems like Gusto, iPayroll, CloudPayroll and Remote.com on an ad-hoc basis to date. While each of these systems integrate with Xero, a big project for us this year is transferring over to a fully integrated HRIS like Rippling where we can have all global employees on one system.