MyCorbu and Architekwiki blogs are combining.
The big picture is that MyCorbu started as a separate endeavor from Architekwiki, but it really wasn’t. In recognition of this, MyCorbu is moving under the Architekwiki umbrella.
The first change is the blog. The plan is to leave the MyCorbu Blog as it is. Occasionally an article will be updated. All new articles will appear only in the Architekwiki blog. So...
You will begin to receive the Architekwiki blog instead.
Many of you already receive both blogs, so this will simplify things for you. If you don’t receive the Architekwiki blog now, give it a try. You can always unsubscribe in any email that you receive.
The beauty of daily timekeeping with MyCorbu is how you can get nearly ‘real time’ reports on how much time is being recorded on each project. But it gets even better with MyCorbu Books. If you take a minute when you set up a project, you will see how the expended effort compares to your budgets for time and for dollars.
BTW the free timekeeping version of MyCorbu includes budgets for time. See Budgets in MyCorbu.
8 REASONS FOR ROUNDING-UP YOUR TIME
This might be controversial.
I think architects should round-up their time.
I also think that you should complete and submit your timesheet daily. If you aren’t completing your timesheet daily, then this idea won't interest you because you are already fudging your time entries.
This is why rounding-up isn’t fudging.
Architectural Bookkeeping with MyCorbu
We all have experienced homemade timesheets. If you have also experienced cloud-based timesheets, you realize that filling out a timesheet is just about the same no matter what the medium - paper form, electronic spreadsheet, software, or cloud-based app. Beyond the input method is where the differences become more dramatic.
How often do you complete your timesheet?
I personally have used 'twice monthly', 'weekly', and 'daily' timesheets. You are probably different than me; but when I filled out my timesheet it usually went something like this ...
MyCorbu is Architectural Bookkeeping
MyCorbu just got closer to the vision of offering a real solution to the small architectural firm’s need for bookkeeping. All that’s missing is an invoicing solution. (That’s next.)
Bookkeeping has come to MyCorbu BOOKS, the renamed paid version of the MyCorbu timekeeping app.
Your Firm Needs Architectural Bookkeeping
Small firms don’t need accounting.
Your accountant doesn’t agree with me.
He’s wrong unless your firm has over 20 members.
The problem with accounting is that it requires brain-surgery-precision for a task that doesn’t much matter. When you stop to think about the time, effort, and aggravation that accounting requires; and what benefit you receive in return; something is fundamentally wrong. Basically you can’t afford to do accounting until you are large enough and complex enough to afford a bookkeeping employee.
How do I know this?
An Architectural Bookkeeping Solution
For over 20 years I had the benefit of having Project Financial Status calculated for me by our (pricey) accounting software after each month was ‘posted’. You could choose from two methods. Method A was automatic but gave useless results. Method B required you to input an overhead factor to allocate overhead per hour of time charged to the project. This method gave consistent results and the results were accurate as long as your overhead factor was up to date.
You can see how to calculate an overhead factor here.
MyCorbu BOOKS (formerly called TIME) now provides the same Project Financial Status as a pricey accounting system. One difference is that MyCorbu does it daily rather than monthly.
T I M E is now called 'BOOKS'
I want to tell you about a new resource that will help you get up and running with all the features in BOOKS (or see just what is included).
I created an online guide using Teachable.com to give you another way to implement/explore the BOOKS features.
Here's how it works...
Most Architects can’t afford to do accounting
The reason is simple. Most architectural firms have less that 10 people.
By most, I mean 80%.
And architects can’t afford it because it takes at least 20 hours per week of someone’s time - on average. Just for accounting functions.
The MyCorbu BASIC account is free, but that doesn't mean there aren't significant benefits besides the free part. Compare these benefits to what you are using now. I think MyCorbu will come out favorably.
Compare these points to your current timekeeping system and I think you will find a reason to try MyCorbu. All except the last feature are part of your free account.
MyCorbu 'BOOKS' Subscription
Subscriptions to the premium version of MyCorbu are available.
This is how a subscription works.
See the BOOKS page for the current pricing.
Since committing to a Roadmap in September, things have changed dramatically.
Everything that I thought would take until early 2018 has already been accomplished.
Here is my latest thinking.
See if you think now is the time to upgrade to BOOKS.
Using the Mileage feature is a breeze.
And setting it up is not difficult either.
But you definitely want to do the setup correctly to avoid a lot of wasted re-work.
Contrary to my time table projections, the MyCorbu TIME upgrade will not be completed early next year.
All these features are ready NOW!!!
TIMEKEEPING for Architects
After nearly a year of research, I know a lot about the problems that most firms face with their accounting systems. Those problems fall into all three major bookkeeping tasks that architect’s have - Timekeeping, Invoicing, and Expense Tracking. Those three problems often lead to difficulty with Project Accounting, too. That is another problem shared by many firms - not knowing if a project is profitable or how profitable/unprofitable.
MyCorbu is a project-oriented, cloud-based timekeeping system designed by a retired architect for other architects and creative people. I am going to show you how you can solve your Timekeeping issues. Cheaper. Faster. Better.
Keeping track of your mileage is very similar to keeping track of your time. It is good sense to make both types of entries in the same app. That is what I have done in the TIME feature upgrade. Here is an overview of how it works.
Now that there is a Roadmap, my competitiveness has kicked in and I want to beat the timetable I just set up. After two weeks, progress is looking good.
UPDATE: As of late October all the features of MyCorbu TIME are complete and have been released for use.
You can purchase MyCorbu TIME now at a serious discount.
I don't have any experience with 'roadmaps' outside of the framework of planning architectural design work, but that's not going to stop me from sticking my neck out and sharing what I plan to do.
Bear in mind that this roadmap is guaranteed to change.
For over 20 years I had the benefit of having Project Profitability calculated for me by our (pricey) accounting software. You could choose from two methods. Method A was automatic but gave useless results. Method B required periodic input by us using a factor to allocate overhead per hour of time charged to the project. This method gave consistent results and the results were accurate as long as your overhead factor was realistic.
We knew how to calculate a realistic overhead factor, and you can see how here.
Determining your Billing Overhead Factor [BOF] can be an eye-opening exercise.
I learned this technique from Paige Highfill, an architect, who was teaching other architects how computers can be used in architecture even before CAD came along. When I tried out the calculation, I was shocked to find that we were losing $15 per hour on every hour we billed! I suggest that you avoid that situation.
MyCorbu does not have an invoicing feature - yet.
But because all invoicing is related to time records, MyCorbu can assist you with invoicing in several ways.
My firm had in-house payroll for 30 years. I thought it was great. Pay period ends. The next day everyone had their paychecks by 10 AM.
What's not to like?
The beauty of daily timekeeping with MyCorbu is how you can get nearly ‘real time’ reports on how much time is being recorded on each project. But it gets even better. If you take a minute when you set up the project, you can see how the expended effort compares to your budget.
Here's how to get real-time feedback from MyCorbu...
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