How to set up prevailing wages in Knowify

Note: Prevailing Wage is available as a paid add-on to any Knowify subscription. Click here to contact us and learn more about upgrade options.

To set up prevailing wage rates in Knowify, navigate to the Admin Section in the Rates and Resources tab. There will be a subsection in this tab for “prevailing wage templates” where you can review existing templates and add new ones:

Clicking + Add new will open a new screen where the prevailing wage template can be created:

Each prevailing wage template will be made up of:

• A name - This is the name of the template for easy selection. It should be named for specific counties and jurisdictions that establish the rate (ex. Monmouth County Q1 2025)
• Effective date range - This establishes the date range in which this template can be used. Prevailing wage rates expire and new templates will need to be used for new jobs after the expiration date
• Roles - This is the label associated with individual rates in the system. It is selected to define the type of work the worker is doing to then select the relevant rate. (ex. Carpenter 1, Journeyman, Master Plumber)
• Wage rate - This is the minimum amount that an employee can make with the corresponding role. If the base rate that the employee makes is more than this rate, it is ignored. If it is less, then the employee makes the wage rate instead.
• Max fringe - This is the maximum amount of fringe that the business owner can declare as part of the employee’s prevailing wage before having to increase the wage rate instead. (i.e. if an employee makes $15/hr in fringe benefits but the max fringe is $10, the employee still makes $15 in fringe but the prevailing wage calculates as if it were $10)
• Prevailing wage - This is the total amount that the employee makes when combining wage rate and fringe benefits. The rate at which an employee is tracked should never be less than this rate.

When fully filled out, it will look something like this: