From setting up your production company to securing rentals to hiring crew and talent, there are a ton of costs to manage. And if you’re working within the confines of a client’s budget, staying on top of your actuals throughout the project is even more vital.
Part of our mission is to bring value to every angle of the payroll process so our users can focus on what they do best, by equipping them with the tools to be prepared for every situation. That’s why we’re introducing a new export feature that provides an end to end experience from budgeting to actualization, with hopes to keep our users in the driver seat of their projects’ finances.
With that, Wrapbook users can now export their payroll logs and directly import these actuals into their Hot Budget or Point Zero accounts. And we’re all very excited about it.
Actualizing is a massive part of keeping your productions running, but it can be a nightmare trying to chase down all of your expenses, especially if they live in different places. So to avoid that, if you use Wrapbook, you can now directly export your actuals into your preferred budgeting software (Showbiz, Hot Budget, or Point Zero).
Export every expense from employee rates, overtime costs, meal penalties, kit fees, fringes, and more. You can do this when running payroll, after a project is complete and even before you ever run payroll on all potential payables.
This will help with more accurate reporting to clients and in general- knowing when you’re coming in under, over, or right-on budget, at any stage of your project. This obviously has huge implications for producers working with clients or any industry professional looking to have a meticulous handle on their project’s finances.
For those that use Quickbooks, Wrapbook has enabled Quickbooks integration for some time, where you can export your data into the accounting software. But we recognize not everyone uses Quickbooks, and more commonly, not everyone uses Quickbooks as a budgeting tool.
So, how do you do it?
First thing to note - the particular formatting of this export allows for a seamless and direct import so you can move beyond projections and take actuals to the budgeting software you’re already using.
It’s a fairly simple process. Read on for the specific steps or watch the video below.
On the left hand side, navigate to the “Run your payroll” tab and find a new option on the bottom of the page that reads, “Payroll Log(.csv)”
Once you click on this button, all of your payroll information will be exported into a .csv file.
Now comes the fun part.
After you export- open your .csv file in Excel. From there, open up your Hot Budget file, and go to the tab “Payroll Log.”
Then, click on “Import.”
Unclick “Hot Budgets Only” and click “Timecard Batch CSV”.
Click or highlight the payroll log you’d like to import, and you’re almost there.
As the video mentions, you’ll notice the “Fringes” section in the same window. This accounts for everything other than the gross pay of your employees - from workers’ comp, to Wrapbook’s platform fee, to employer taxes, etc., select the appropriate percentage of fringes before importing.
Once that’s complete, the accounting codes are pulled from the raw .csv into a properly formatted and mapped excel sheet with actuals and accurate information of every key consideration from your payroll log.
From here, you can compare what you have budgeted to your actuals for specific line items.
We’re leveraging our payroll software in new ways to bring you smarter and more intuitive technology, assisting in processes you’re already familiar with. For more information, reach out to us at anytime.
If you're already using Wrapbook, contact Success to learn more.
At Wrapbook, we pride ourselves on providing outstanding free resources to producers and their crews, but this post is for informational purposes only as of the date above. The content on our website is not intended to provide and should not be relied on for legal, accounting, or tax advice. You should consult with your own legal, accounting, or tax advisors to determine how this general information may apply to your specific circumstances.
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