The time to re pot is spring. That is anytime from now until end of March.
Watering must be done as needed, not to a schedule. So you must check every day, and water when needed. In the summer you will be watering almost every day, in to winter possibly not for 6 weeks.
Akadama is what I use, there is no best. it is what you find works best for you. Use John Innes 3 with extra grit. If you ask 10 bonsai growers they will tell you 10 different soils. As I said before, the Chinese Elm usually holds leaves until the new ones are breaking.
Geoff.