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In 2018, Wrapbook set out to transform production payroll, offering a modern alternative to the time-consuming and error-prone methods of traditional entertainment payroll. But in the years since, we’ve noticed that payroll isn’t the only part of the production process that suffers from inefficiencies—cost management does, too. Production teams waste time tracking purchase orders and petty cash. Accountants spend hours manually copying cost data from one platform to another. And nobody has a clear picture of a production’s finances until days—sometimes weeks—after wrap. For years, these disconnected processes have cost productions time and money—until now.
Today, I’m excited to announce that Wrapbook is expanding our platform with new cost-management and accounting capabilities. These powerful new features connect production and accounting teams in a single, integrated solution, empowering them to collaborate and wrap faster.
New capabilities include the following:
Cost Tracking - Real-time tracking for all project-related costs in Wrapbook—no more loose purchase orders or petty cash “chits.”
Budget Tracker - At-a-glance visibility into labor and vendor spend, updated as costs are incurred. Budget tracker lets you minimize the risk of overages—all without the hassle of manual data entry or time-consuming import/export.
Chart of Accounts - Automatic line coding for project payables using your custom chart of accounts. You can import your own COA or customize one of Wrapbook’s templates.
Accounting Integrations - Integrations with Quickbooks, Sage Intacct, Oracle Netsuite, and Acumatica. Job costs are pushed to your ERP seamlessly, so you can wrap faster and more confidently, all without the hassle—and errors—associated with manual data entry.
By introducing cost tracking for purchase orders and petty cash, Wrapbook lets production teams monitor and control expenses more effectively. With real-time budget actualization, they can make more informed decisions about how they allocate their resources.
Accounting and finance teams can now rest assured that on-set costs are being tracked and coded accurately, and—with integrations to the leading ERPs—they can reconcile costs faster, speeding up wrap significantly.
The days of manual re-entry and fragmented systems are behind us. With Wrapbook’s new cost-tracking features, the entire production process becomes more streamlined and collaborative, with a unified platform that brings production and accounting closer together, optimizes data management, and facilitates seamless communication—all within Wrapbook.
I'm proud of our team's dedication to developing this new suite of features, and thankful for our clients’ valuable feedback along the way.
Best,
Allison Takeuchi, SVP of Engineering, Product, & Design
For more on the individual features, please see the links below:
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.
Allison Takeuchi is Wrapbook's Senior Vice President of Engineering, Product, and Design. She has over twelve years of experience leading Product, Engineering, & Design teams and remains passionate about solving core problems that impact the day-to-day lives of Wrapbook customers.
