One of the things we hoped to be able to do when we signed up to Monzo Business + Xero was to track profitability.
Xero Projects allows you to track profitability based on an hourly staff cost rate, but we don’t charge by the hour and our salaries are a fixed expenditure (we don’t pay overtime), so we can’t track profitability accurately in Xero Projects.
So we’d love Monzo to introduce a simple project management module to their Business tools, including the ability to track time spent on projects, expenses, and the ability to track profitability (including by using a monthly staff cost rate rather than just an hourly cost rate).
All Xero needs to do is add a monthly staff cost rate to Xero Projects, but they’re a big slow moving ship. I wouldn’t be surprised if Monzo or Starling could deliver this before Xero does.