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 progress (WIP) reports are one of the best tools available for… Read More »Tracking WIP: Knowify vs. QuickBooks Online
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’s particularly straightforward. In fact, progress invoicing can be one… Read More »Comparing Knowify’s contractor-centric approach to progress invoicing with QuickBooks Online
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. Retainage is a contract-level process. QuickBooks is… Read More »Managing retainage: Using Knowify to fill the gaps in QuickBooks Online
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 industry landscape to remain financially stable. However, there’s… Read More »3 profit-killing problems you can solve with job costing
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 as aggressively as possible without… Read More »Mastering construction job costing: A contractors guide
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 combination of sharp decision-making skills and… Read More »Electrical contractors guide to job costing
An estimate assesses the probable total cost of an upcoming project. An effective estimate accomplishes three main things for painteres: Estimating is crucial for securing jobs, whether you’re competing with other bids or dealing directly… Read More »How to estimate a painting job
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. From bidding to… Read More »Maximizing profitability: Job costing tips for painting contractors
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 contractor, you should know what your record… Read More »Construction financials 101: Understanding financial statements
Purchase orders and invoices are two critical documents used in the construction industry. Yet they are often confused and misunderstood. Although similar, each serves a very different purpose in the purchasing process, as well as… Read More »Purchase order vs. Invoice: Everything you need to know