You Can Now Actualize Budgets with Wrapbook

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. 

Our mission is to make every step of the payroll and accounting process more efficient so you can focus on what you do best.That’s why we’re introducing new cost and budget tracking tools to provide 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, you can now track costs and actualize your budget in Wrapbook so all your production costs are in one place. 

We’re pretty excited about it.

Actualize your budget with Wrapbook 

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.

The ideal solution would be to have a system that keeps all your expenses in one place.  Not only payroll, but also purchase orders and petty cash. 

Bonus points if you could import your budget. You’d have all your expenses and the planned budget in one place. 

You can guess where we’re going with this, right?

One tool for all your production costs 

For far too long, production has relied on outdated and disconnected tools to manage costs—payroll in one tool, purchase orders, and petty cash in another (or worse, on paper). With costs recorded in disparate tools, it’s a nightmare to track total spend effectively. 

Wrapbook cost tracking

Wrapbook cost tracking provides production teams with a single tool to track and manage costs in real time. Purchase orders and petty cash can now be managed right alongside payroll, eliminating the disconnect between tools and giving production a single source of truth for project-related costs. 

• Purchase Orders: Create and track purchase orders digitally. In a few quick clicks, you can give select crew members and department heads the ability to create purchase orders from their existing Wrapbook account. As soon as a purchase order is created, it will reflect in real-time on the Purchase Order dashboard showing the vendor, amount, who the PO was created by, and more.

• Petty Cash:  No matter the industry, petty cash is often subject to misuse—intentional and unintentional. By managing your project’s petty cash in Wrapbook, you can confidently track every dollar in and every dollar out, and crew can upload receipts on-the-go from their existing Wrapbook account.

Budget tracker: actually actualize your budget

With all project-related costs tracked in Wrapbook, you can confidently track budget v. actual spend at any point during production, which makes cost reporting and actualizing your budget a breeze.

You can quickly import your budget to Wrapbook from Hot Budget, Movie Magic, or Showbiz, and then Wrapbook’s Budget Tracker will reflect each payroll, purchase order, and petty cash transaction in real-time. Each transaction is coded against your project Chart of Accounts giving you a line-by-line breakdown of costs.

The budget dashboard gives you an at-a-glance overview of total spend, overages, and working budget, with the ability to drill down and view source transactions in a few quick clicks. Have an unforeseen variance, or a miscoded cost? With Wrapbook you can instantly view each transaction and make any adjustments necessary.

Whether it’s once a week, or once a project, you can export a detailed Cost Report whenever you need it—you’ll save hours of reporting and wrap time by eliminating the need to import payroll logs, chase down invoices, and manually enter purchase orders. 

Wrapping up

Wrapbook is here to help your production run smarter, faster, and more efficiently by unifying outdated, disconnected processes in a single tool built specifically for entertainment production. 

Have a shoot coming up? Our team of industry experts is here to help. See how tech-driven, expert backed tools can help your next production today.