Knowify vs Buildertrend: Which construction project management software is right for you?If you have your own team: KnowifyIf you sub out all of your work: BuildertrendI… Read More

Do you feel like you’re trying to outwork a dysfunctional business? Drowned by demoralizing waves of customer emails, buried under an avalanche of dumb calls, and piddly profits. Bette… Read More

In the fast-paced world of construction project management and construction accounting, understanding the financial health of ongoing projects is crucial for success.  Work in progre… Read More

For all but the simplest construction projects, progress invoicing is the go-to invoicing style for trade contractors.  But just because it’s the go-to, doesn’t mean it&r&hell…Read More

Are you doing great work for happy customers, but finding that you still aren’t making money?  You’ve double-checked that your trim corners are tight and your punch list… Read More

If you do commercial work, retainage is a fact of life. And if you’re like many trade contractors, you manage retainage using QuickBooks.  While doable, it isn’t ideal. R… Read More

Success in the electrical trades requires a combination of intelligence and hard work, but this alone isn’t enough to thrive in a competitive market. To truly strengthen your business… Read More

For contractors, the road to success is riddled with obstacles. In the face of ever-changing material expenses and fierce competition, you must deftly maneuver through a multifaceted industr… Read More

While the sun was shining, business was booming. The calls never stopped, and jobs were plenty. But now that cold weather is sweeping in, most people are preparing to hunker down for the win… Read More

At the end of the year, most business owners will take a moment to reflect on how the year went and how they want the new year to improve. But when thinking about this, it’s essential… Read More

What is the construction bidding process? The construction bidding process kicks off the negotiations between contractors and the project owner. Essentially, a bid is an offer from a cont… Read More

As a business owner, ask yourself: do you know exactly how much money you’re making on each project and why you’re making that amount? Are you confident that you’re bidding… Read More

In today’s fast-paced world, success is often attributed to a combination of intelligence and hard work. Electricians stand out as a prime example of this ideal blend. With a combinati… Read More

Save time and get paid faster with our December update It’s the start of slow season for many contractors, but that doesn’t mean you need to slow down. Our December update is… Read More

What is an estimate? An estimate assesses the probable total cost of an upcoming project. An effective estimate accomplishes three main things for painteres: Identify all tasks and pha… Read More

How do you know for certain that you’re growing your painting company the right way? It’s a tough question to answer. It requires you to look at every aspect of your business. Fr… Read More

Matching exceptional decision-making with good old-fashioned elbow grease, electricians are a true mix of brains and brawn. It’s this unique skill set that’s propelling the elect… Read More

In the construction industry, one of the biggest challenges is ensuring everything and everyone is in the right place at the right time.  For this reason, effective scheduling can ma… Read More

Legendary NFL head coach Bill Parcells famously said, “you are what your record says you are.” Numbers don’t lie, and results often speak for themselves. As a construction… Read More

Construction document management is a process for organizing, storing, and facilitating all relevant documents used throughout construction projects. This includes contracts, blueprints, per… Read More

Creating accurate, timely bids is one of the most essential components for any contracting or construction business. Nonetheless, the construction bidding process is not as straightforward a… Read More

One of the greatest military minds in all of history, Sun Tzu famously said, “Every battle is won before it’s ever fought.” The outcomes of battles are determined by the pr… Read More

Despite the importance of construction budgets, 9 out of 10 projects result in cost overruns. While many factors can result in costs exceeding estimates, starting off with an accurate budge… Read More

As a critical part of any project, construction purchase orders serve to bind together buyers and sellers in a way that encourages trust. As a specialty contractor, you’ll likely find… Read More

Lines of credit (LOC) are crucial to a subcontractor’s financial health. With possible higher limits and lower interest, they can help subs protect their cash flow as they weather long… Read More

Experienced contractors are more likely to finish projects on-schedule and under-budget with a reliable crew. But project-based work like plumbing, HVAC, or house painting means that staffin… Read More

Despite the precariousness of the past five years or so, the construction industry has proven, as it often does, to be quite resilient. Not only has it weathered the storm of COVID-19, it fo… Read More

What is a submittal in construction? A construction submittal is a form of written or physical information sent to architects, engineers, or general contractors for approval of specific m… Read More

A chart of accounts is a window for viewing the financial standing of your business. It’s a comprehensive list of all account numbers and names relevant to your operation. From this li… Read More

While all construction contracts will stipulate timelines and requirements, the mechanisms by which contractors get paid can vary greatly. Since construction industry contracts take many dif… Read More

AIA billing has remained a construction industry standard for over a century. They bring a reliable, organized, and standardized system, providing clear directions for contractors. Howeve… Read More

Continuation sheets, such as the AIA G703 form, provide key pieces of information on each item of work that general contractors and project owners use to monitor the progress of that job. At… Read More

The G702 form is an AIA payment application, or billing form, used as a summary sheet of billing progress. Subcontractors will use it to request payment from a general contractor; and a gene… Read More

Tax time is always a little painful for business owners—even more so when you end up saddled with a large tax bill. Fortunately, maximizing your tax deductions is one of the best ways… Read More

Everybody looks forward to payday. It’s a time-honored agreement between employer and employee that exchanges honest work for honest pay. However, payroll is more than cutting a check… Read More

Being a contractor is not for the faint of heart. It’s natural to look at business challenges and blame the usual suspects: a terrible labor market and all-too-common supply issues… Read More

We’re thrilled to announce an exciting partnership between Knowify and AIA Contract Documents, two industry leaders revolutionizing the construction management landscape. Many Know… Read More

Tax planning is an essential process for construction business owners—it’s equally as important as other priorities like job costing, scheduling work, and running payroll. … Read More

Construction accounting is unique from any other industry. It requires specialized skills and knowledge that traditional accounting rarely dips into such as work-in-progress (WIP) and retain… Read More

Retainage is the practice of temporarily withholding payment from a contractor for work performed. Project owners use retainage to mitigate risk by setting aside a portion of payments (5-10%… Read More

Job costing is central to construction accounting for its ability to track and allocate all associated costs for a specific job. When done right, it’s a powerful tool for understanding… Read More

Starting your own contracting business is an exhilarating experience. It brings a rush of excitement, optimism, and a healthy dose of uncertainty about the future. While much can be learned… Read More

No contractor gets into the business for the love of admin work. After burning the midnight oil for the fourth time this week, managing payroll, tax filing, invoicing, and organizing, you ha… Read More

Release date: July 9, 2023 Avoid costly errors and gain new insights with features in our June release Welcome to the June release of Knowify! We’ve been hard at work to make Kno… Read More

Contractors lean on submittals as one of many risk management tools to ensure projects have a good line of communication and documentation. As such, submittals ensure all stakeholders are on… Read More

Late payments go hand-in-hand with working in the construction industry. But the results of a recent study will stun even the most experienced of contractors. Rabbet found that the financial… Read More

The construction industry is unlike any other. It is a business of specialties, with each trade as unique as the last. Even when it comes to something as straightforward as accounting, const… Read More

Achieving financial success begins with the end in mind. If you don’t know where you’re going as a business, you’ll likely end up somewhere you don’t want to be. For… Read More

The legendary Jack Welch, former CEO of General Electric, once said– “change before you have to.” Nowhere does this quote hold more weight than in the construction indus… Read More

Profit is the fuel that keeps everything running. Whether it’s a small mom & pop shop, or an international giant, every business needs the necessary capital to do right by their cu… Read More

There is a concept in the contracting world known as kicking the can down the road. This looks something like going in too low on a bid or taking a job that doesn’t have great terms or… Read More

As a business owner, you must be willing to take calculated risks, but when it comes to the job site, contractors will find there’s much less room for taking chances. This is because… Read More

Every specialty trade faces seasonality in their business at one time or another. Learning how to deal with it effectively can be the difference between a successful business and an unsucces… Read More

Attention to detail is the key to completing a project successfully. From beginning to end, contractors must be meticulous in their performance. However, as a project progresses, big-picture… Read More

Plumbers are, without question, the backbone of modern infrastructure — the average American uses 400 gallons of water per day. As a vital part of society, competition in the plumbing… Read More

While the submittal process is a familiar one for contractors, familiarity doesn’t make it any easier to manage potentially thousands of items; it can quickly become a time-consuming p… Read More

A finished project, no matter how big or small, stands testament to the hard work, dedication, and grit that contractors put into their craft. But when the final punch list items are taken c… Read More

Successful projects require transparency. Project owners, however, have a lot to think about. Most of the time, they can’t share every detail or answer every question before a project… Read More

Release date: May 29, 2023 Introducing more ways to customize Knowify for your business Spring has sprung, and things are ramping up for many trades. Knowify’s May update is here… Read More

When a certificate of substantial completion is issued and signed, it marks the point when the building, property, or final product can be used as intended, but minor work still remains. It… Read More

Time tracking is essential to any construction job. Especially when considering that most contractors will generate a significant portion of their income through billing labor hours. Unfortu… Read More

Under a time and materials (T&M) contract, labor is billed as time is logged, and material costs are covered directly by the project owner. Flexible and easy to implement, T&M contra… Read More

Although progress billing is commonplace in the construction industry, many aspects of how it functions can be difficult to understand. However, through better contract comprehension, contra… Read More

As material and labor costs continue to rise, construction contractors are left wondering– are my jobs priced right? Answering that question, however, can be challenging; pricing is a… Read More

Pricing is far more than just attaching a dollar amount to a service. How a business approaches pricing holds a surprising amount of information; it signals perceived value, influences custo… Read More

Job costing is a fundamental construction accounting process for tracking costs. Without it, contractors and construction companies are leaving every job up to chance without any way to meas… Read More

Release date: March 31, 2023 Announcing exciting new partnerships Our March update includes improvements to Knowify’s speed and stability and some exciting new partnerships with… Read More

Learning how to set up job costing in QuickBooks is crucial for any project-based business that wants to better track expenses. For small construction businesses that need to maintain health… Read More

Improving job-level profitability requires an effective job costing system. It serves as the foundation for controlling costs, reveals where you are making or losing money, and provides the… Read More

New York is hosting one of the largest construction and design events in the city next week: New York Build 2023! Over 29,000 registered attendees, more than 300 exhibitors, and 350+ speaker… Read More

Release date: February 26, 2023 Significant upgrades for time tracking and expense management Our February update includes an exciting new integration and brings new features to improv… Read More

Project owners typically have a large quantity of proposals to choose from, so it’s crucial that when submitting your own, you are detailed, professional, and comprehensive. This artic… Read More

Release date: January 21, 2023 Major upgrades for Job Costing and Plan & Track Our January update brings major new features that improve the way job costing, budgeting, and communi… Read More

Concrete results you’ll see all year. World of Concrete 2023 starts its educational track today and opens the exhibit hall tomorrow. The concrete and masonry community will gather in p… Read More

While all contracts will stipulate timelines and requirements, the mechanisms by which contractors get paid can vary greatly. Since construction contracts take many different forms, it&rsquo&hell…Read More

As a contractor, you need to know the how and why of your business; where and how you are making money is not always easy to pinpoint. Although job costing is essential for answering these q… Read More

Contractors, more than anyone, know that it’s impossible to foresee every challenge a project may face. Up to 35% of all construction projects will have at least one major change, and… Read More

Released in September of 2022, the Associated Builders and Contractors released its latest tech report. This report provides the latest information and data on new technology in construction… Read More

Release date: December 25, 2022 Improved organization and a brand new invoicing method 1. Advancement Tag Management Available for all plans In the Accountant section of Knowify… Read More

With labor shortages remaining a top industry concern for many contractors, career fairs have become increasingly valuable for finding skilled workers. With 25% more openings than filled pos… Read More

It’s happening! The longed-for reunion of the accounting community at an in-person #QBConnect is this week, from November 7 through November 9. Our team couldn’t be more excited… Read More

Release date: November 30, 2022 Stability and performance updates Knowify’s November update brings improvements to stability and performance. This month, we’ve been laser-f… Read More

Trade shows and conferences are exceptional opportunities for contractors to capture more leads, acquire feedback, and improve brand awareness. Whether you have just opened up shop or are we… Read More

As a contractor in the construction industry, you know that job costing is important (and that’s putting it lightly). Accurate job costing is how you determine if your company is makin… Read More

Historically, a contractor’s success was largely driven by quality of work, personal relationships, and word of mouth. Growing your business on word of mouth alone, however, is becomin… Read More

We are excited to announce our Business Assessment and Action Plan for contractors. Take our 12-question assessment to see where you can improve efficiency, boost profitability, and take mor… Read More

It’s no secret that the current labor shortage is top of mind for many in the industry. According to the US Chamber of Commerce, 73% of construction firms report labor shortages as a t… Read More

Release Date: 10/22/2022 Improved PO process & communications tools Knowify’s October update brings improvements to P.O.s and RFIs, along with quality of life improvements fo… Read More

NECA 2022 is just around the corner! Starting this Saturday the electrical community is gathering for a few days in Austin to share new products and trends in the industry. We are excited to… Read More

Accounting is said to be the language of business, as it tells the story of how well your business is doing financially. For this reason, understanding the financial nuances of your projects… Read More

The Small Business Administration (SBA) will is rolling out a new rule that goes into effect today, August 22, 2022, that will impact subcontractors across the country. The new SBA requireme… Read More

It’s no secret that design-build construction has been increasing in popularity in the last few years. A recent study found that 58% of owners intend to use design-build as opposed to… Read More

Knowify’s latest update offers up a brand new user-experience to existing users, along with some exciting enhancements to invoices that should help you get paid more quickly and consis… Read More

Creating accurate, timely bids is one of the most essential components for any contracting or construction business. Nonetheless, how to bid on a construction job is not as straightforward a… Read More

What is a submittal in construction? A construction submittal is a form of written or physical information sent to architects, engineers, or general contractors for approval of specific m… Read More

When it comes to job costing vs process costing contractors may wonder which accounting system is best for their business. Both enable better decision making and help keep a close eye on the… Read More

Maintaining positive cash flow is a struggle for every business, but especially for those in construction. For most construction businesses, cash is flowing out faster than it’s coming… Read More

What is a mechanics lien? In the construction industry a mechanics lien (also known as a construction lien or contractors lien) happens when a contractor performs work that will permanent… Read More

What is a schedule of values  A schedule of values in construction (SOV) is a breakdown of every billable task on a project providing an overview of the budget, a detailed timeline… Read More

Construction work in progress (WIP) is a necessary accounting strategy used over long-term projects. But it’s so much more than getting paid for a project. Creditors and banks use WIP… Read More