In response to New York State Senate bill S3009B, starting Monday, April 14th, 2025,  Wrapbook will withhold 6.85% on loan-out payments for all projects applying for New York Tax Credits. If you have an existing project, you can enable this withholding in Project Settings > Payroll.

Please note: Wrapbook will withhold taxes for payments made on, or after, April 14, 2025. However, pending final legislation, withholding may be required on loan-out payments after January 1, 2025, for tax incentive purposes. If S3009B is not signed into law, or if the effective date is changed, all withheld taxes will be refunded in full.

If you would like to discuss how this legislation impacts payroll already finalized in 2025, or if you would like to increase withholding on a current check to compensate for lack of withholding on a previous check, please contact us at tax-incentives@wrapbook.com.

Ready to streamline your vendor payment process? Generate and export NACHA-formatted ACH payment files directly through Wrapbook's Production Accounting Suite. Process vendor payments efficiently through your bank with support for multiple invoices in a single batch. 

Contact productionaccounting@wrapbook.com for more information and to set up your payment files. 

To learn more, visit ACH bank transfers.

Questions? We’re here to help. Reach out to support@wrapbook.com.

You can now specify which job titles are eligible to be hired as loan-outs, making it easier to stay compliant with your organization's loan-out policy. Set precise job title restrictions for loan-out eligibility to help minimize loan out misclassifications, prevent payroll errors, and maintain consistent hiring standards across all of your projects.

To create a hiring policy for loan-outs, navigate to Company settings, click Edit next to Worker hiring and click the toggle next to Restrict loan-out hiring to specific job titles. To learn more, visit Worker Hiring Preferences.  

Questions? We’re here to help. Reach out to support@wrapbook.com.

The deadline to request a correction to payroll processed between January 1st - March 31st is Friday, April 4th. Common reasons to request a correction include worker misclassification and changes to project location. 

If you have questions or need to request a reversal, please contact us at support@wrapbook.com. 

The Cost Report and Trial Balance Report have been updated for projects using Production Accounting with:

• New filters to run the reports by period or effective date range and filter by location, production, set, and free field tags
• The ability to run the Cost Report for one or multiple budgets
• New reporting options like show/hiding $0 account balances, variances, and export options 

To learn more, visit Accounting Reports.

Questions? We’re here to help. Reach out to support@wrapbook.com.

Save time with multi-day selection for allowances and other payables.

Now you can select multiple dates at once when adding allowances or other payable types to a worker's timecard. This new feature automatically creates identical entries across all selected dates, copying all your entered data—making bulk entries faster and easier than ever!

To learn more, visit Add an allowance to a workers timecard.

Questions? We’re here to help. Reach out to support@wrapbook.com.

Effective March 3, 2025, Wrapbook will collect a new Benefit Cost Rate (BCR) add-on tax for wages paid in California, New York, and Connecticut. The BCR add-on is a supplemental employer tax related to Federal Unemployment Tax Act (FUTA) charges.

BCR add-on rates & annual employer maximums, per employee:

• California: 3.7% ($259 max)
• New York: 1.1% ($77 max)
• Connecticut: 0.8% ($56 max)

What you need to know:

• BCR add-on applies to all wages processed in these states going forward (up to the $7,000 federal wage base).
• There is a possibility that the BCR add-on for 2025 will be waived at the federal level. The waiver decision should be made by September 30, 2025. We will inform you of the waiver decision as soon as we have it.
• If the BCR add-on is waived, we will refund the BCR add-on fees collected.
• If the BCR add-on is not waived, we may retroactively collect for this period for employees who worked January 1 - March 2, but did not work a sufficient amount after March 2 to reach the $7,000 wage base.

Based on crew workers continuing to be employed throughout the year in these states, we believe we can shoulder this burden together and come through stronger.

Questions? Contact us.

Approval workflows for timecards, expenses, and POs can be assigned to specific Organizational Units (OUs).

Customize approval workflows for each organizational unit and designate specific approvers. This ensures approvers can only access and review timecards, expenses, and purchase orders within their assigned unit.

To learn more visit, Creating a new approval workflow.

Questions? We’re here to help. Reach out to support@wrapbook.com.

Accessing your financial data just got more intuitive. Our new AI-enabled General Ledger allows you to find exactly what you're looking for using simple, everyday language.

Simply ask questions like "Show me all payroll expenses from January" or "What were our location rentals costs last quarter?" in the quick filters search field. AI will apply the appropriate filters, which you can review and adjust before downloading your report.

Watch a demo of the feature here.

This feature is available to customers using Wrapbook's Production Accounting Suite and can be enabled by contacting your Customer Success Manager or support@wrapbook.com.

In 2024, the state of Connecticut paid off its federal unemployment loan, causing the FUTA Supplemental rate to drop to 0%. However, as of January 1st, 2025, the state now has a new outstanding loan. Due to Connecticut’s borrowing history—four consecutive years between 2022 and 2025—the state will be subjected to a supplemental 1.2% on FUTA for the current tax year.

Accordingly, projects in Connecticut will see a 1.2% increase in FUTA Supplemental on all future payrolls. 

Please note that the change will only apply to payrolls going forward; we will not be back-collecting on any previously-run payrolls.

Questions? Reach out to us anytime at support@wrapbook.com.