A contractor’s tool, kept honest by running a contractor on it.
Project Financials is built and run from Utah by the people who use it every month to run an electrical contracting company.
Kevin Steed did his apprenticeship and a decade as a foreman before founding KRS Electric in 2017. KRS is a family-owned commercial, industrial and mission-critical electrical contractor headquartered in Apple Valley, Utah, licensed across the Mountain West, with about forty people in the field. The work is fuel stations, medical buildings, small data centers, lift stations and water-treatment plants: fixed-price contracts billed monthly on a schedule of values, with retention held to the end.
That kind of work lives and dies on three numbers: how much of each job is earned versus billed, when the cash actually lands, and whether there are enough people and trucks for what has been signed. The surety asks for the first one every quarter. The bank asks for the second. The office asks for the third every Monday.
The software that answers those questions well is built for general contractors with a controller, an IT department and a six-figure implementation budget, and it is priced on revenue. The software priced for a forty-person shop is a project-management suite that puts job costing behind the expensive tier. Kevin wanted the finance layer alone, deep enough to satisfy a bonding agent, cheap enough to run forever.
So he built it, first as an internal tool that KRS used for its own cash flow and WIP, and then as the product you are reading about. KRS still runs on it. When something in the WIP math is wrong, the people building the product are the first to hear about it from their own bonding agent.
What we believe about this software
- The PM who runs the job should own its forecast. Nobody else knows the number.
- A WIP schedule is a report for a surety, not a dashboard widget. The columns have to be right.
- The field should be able to enter costs without seeing anyone else’s margin.
- Price should depend on how much you use, not how big your contracts are.
- Your data is yours. It leaves in Excel any time you want it to.
Get in touch
Questions, a demo, or a feature you need before you can switch: kevin@krselectric.net or the contact page.
Produce your first WIP schedule this week.
Fourteen days, full Professional features, no credit card. Import your projects from Excel, enter the draws and costs you already have, and hand your bonding agent a schedule you can stand behind.