The Best Alternative to CAPS Payroll Services
Meet Wrapbook: The Best Alternative to CAPS Payroll Services
Searching for a CAPS Payroll alternative? Then look no further than Wrapbook, a modern film payroll company, automating everything from onboarding crew to handling compliance to running payroll – all in one intuitive app.
While there are many entertainment payroll services available, both CAPS Payroll Services and Wrapbook offer a powerful suite of services that support film, TV, commercial, and live production.
Here, we explain some key differences between Wrapbook and CAPS Payroll to help you decide which payroll company is right for your production.
1. The Full Gamut of Entertainment Payroll
From a compliance perspective, entertainment payroll can be tricky. In most cases, everyone from the director to the PA picking up lunch are your production’s employees. This means your production will need to procure worker’s compensation insurance, cover payroll taxes, and send off the proper forms come tax season.
Plus, if any of your cast and crew are in unions, you’ll be responsible for staying compliant which usually means sending health and pension to various guilds each week of your production.
An entertainment payroll service, CAPS Payroll can handle all of these tasks for you in house. Before and during shooting, you’ll have to send invoices and a stacks of paper documents to your dedicated paymaster, who will then pay out your production. To track a payment or expense, get in touch with your accountant.
While they have developed a suite of software to assist with calculating hours-to-gross, production accounting, and timecards, each of these are treated separately from their payroll services.
Wrapbook offers its entire software functionality for one low cost. While still providing you a dedicated paymaster, Wrapbook’s software-first approach to entertainment payroll allows you to track your production’s cashflow and run payroll in real time.
After onboarding cast and crew through the app, timesheets and expenses appear in app every time your crew submits them through their Wrapbook account.
Easily toggle between your various productions. When you’re ready to run payroll, just click “Run Payroll.” Send money to your freelancers and employees in seconds, since Wrapbook is one of the few entertainment payroll companies that supports direct deposit.
Plus, unlike CAPS Payroll, Wrapbook’s software is free to demo without requesting a quote.
What is CAPS Payroll Services?
Purchased by Cast & Crew in 2016, CAPS Payroll (also known as CAPS Universal Payroll) provides accounting services out of Culver City, CA.
If you’ve ever worked on high budget commercial shoot, music tour, or live event, there’s a good chance have a CAPS Payroll login, as they primarily cover these types of projects. While retaining their original name, CAPS Payroll is more or less Cast & Crew with different packaging.
In addition to accounting, they offer electronic time cards and CAPSPay, a digital hours to gross tool, that crew can use to spin up their timesheets and then submit.
2. Transparent Pricing
Like most film payroll companies, CAPS Payroll requires filmmakers to get a quote for their production. This usually includes a weekly fee to use their services, a fee to cut checks, a fee per SAG pension and health report, a fee for onset accounting, plus a percentage of your gross wages.
And since you’re getting quoted, you can never be sure if you’re getting the best deal.
Wrapbook only charges 0.75% of your gross wages and a one-time setup fee for unlimited access to their intuitive software. And that’s it.
While Worker’s Comp rates depend on the state you’re shooting in, Wrapbook is tailored to productions operating with medium to low budgets so you can stop worrying about paperwork and get back to creating. And since they’re no quote wall, you know you’re always getting the best deal.
3. Smart, Digital Onboarding
Once you’ve hired someone to work on your project, you need to let your payroll company know ASAP and over the worker’s tax forms, guild information, and loan out company status, just to name a few.
Your payroll company then reviews this and adjusts your payroll so you’re in compliance with the law.
CAPS Payroll handles this process by giving each employee a unique CAPS Payroll login, where cast and crew can input their own information. Here, employees can also find their timecards and forms.
Wrapbook, however, treats onboarding crew and running payroll as one entity, since they share essential information.
By automatically collecting forms from your crew and actors when they join your production, Wrapbook then uses that same information whenever a timecard or a pension and health report is submitted to a union.
While both Wrapbook and CAPS do offer direct deposit, Wrapbook’s onboarding software comes complimentary.
4. Union Ready
Both Wrapbook and CAPS Payroll are up to date with every union regulation, so your always 100% compliant.
When onboarding crew in Wrapbook, all you need to do is flag your crew members’ respective guilds. And when you run payroll, the Wrapbook app will automatically use this information to calculate pension and health in their payroll preview.
Wrapbook submits pension and health to:
5. Insurance + Payroll
In order to run a shoot, you typically need two things: production insurance to protect yourself from fault and a payroll company to keep yourself compliant with the law.
Besides making onboarding and cutting checks easy, using a payroll company is often required when working with unions like SAG.
While CAPS Payroll can process your payroll, they do not offer insurance at this time.
Wrapbook provides both services under one roof. In addition to providing some of the affordable entertainment payroll services on the market, Wrapbook can customize unique insurance packages, lowest cost to you while compliant unions like SAG.
Drawing from the latest tax codes, Wrapbook calculates employer taxes automatically and provides worker’s comp insurance, which most insurance agencies do not.
These in tandem make Wrapbook one of the best film insurance agencies.
6. Wrapbook Is Free to Demo
Like most entertainment payroll companies, CAPS Payroll requires you to request a quote to receive payroll services. However, when it comes to their software, they also require you to request a demo.
While you have to wait for CAPS Payroll Services to get back to you, it’s absolutely free to demo Wrapbook.
Set up a production, run a mock timesheet, experiment with the onboarding feature, and see what it’s like to run your entire production’s payroll through your computer.
Wrapbook only charges a fraction of a percent when you’re finally ready to cut checks or pay out via direct deposit.
And unlike CAPS Payroll Services, Wrapbook doesn’t require a payroll bond, so you can pay your crew without having to front your entire budget upfront.
Click here to try it out today.
Wrapbook Is The Best Alternative to CAPS Payroll Services…
Because it allows indie filmmakers and producers to save money by letting software do most of the heavy lifting.