---
title: "About production accounting"
slug: "about-production-accounting"
updated: 2026-09-30T21:59:57Z
published: 2026-09-30T21:59:57Z
canonical: "help.wrapbook.com/about-production-accounting"
---

> ## Documentation Index
> Fetch the complete documentation index at: https://help.wrapbook.com/llms.txt
> Use this file to discover all available pages before exploring further.

# About production accounting

> [!WARNING]
> This help article is related to the Production Accounting Suite
> 
> In Wrapbook, production accountants and administrators can manage budgets using either the Production Accounting Suite or [Cost tracking](https://help.wrapbook.com/docs/about-cost-tracking). To understand the differences, [click here](https://help.wrapbook.com/v1/docs/en/about-production-accounting#whats-the-difference-between-production-accounting-and-cost-tracking).

## Overview

Wrapbook’s *Production Accounting Suite* (PAS) provides a centralized way to manage film and TV production finances.

Wrapbook's PAS features include:

- Budget/EFC tracker
- Vendor management and payments
- Purchase order (PO), accounts payable (AP), and payroll invoice management
- Journal entries, posting, and bank reconciliation
- Accounting reports including General Ledger (GL), trial balance, and cost reports

## Enable Production Accounting

To use PAS features, you’ll need to contact your Customer Success Manager (CSM) or the [Support team](/v1/docs/how-to-get-help-using-wrapbook).

## Access Production Accounting

> [!NOTE]
> The Production Accounting Suite (PAS) is permission based
> 
> To access PAS features in Wrapbook, your account must have one of the following [roles](/v1/docs/permissions-and-access-control) enabled:
> 
> - Role: *Company Admin, Accountant*
> - Custom role with: [*Accounting & Cost Tracking settings*](/v1/docs/roles-permissions#custom-roles) enabled

Once *Production Accounting* has been enabled for your company’s account, you can access PAS features from project dashboards:

1. In the left-side navigation, click the dropdown menu
2. In the dropdown menu, select the project that you want to access *Production Accounting* for
3. On the project dashboard in the *Accounting* section, you’ll see an overview of PAS features being used

When a project is selected in the left-side navigation, you can use the *Accounting* menu, that’s also in the left-side navigation to access *Production Accounting* features.

## Production Accounting FAQ

To help you understand *Production Accounting* in Wrapbook, we’ve put together this list of frequently-asked questions.

Click the arrow next to a question to see the answer.

#### What’s production accounting?

Production accounting refers to the management of film and TV production finances through a centralized system. Wrapbook’s Production Accounting Suite (PAS) includes features such as budget tracking, vendor management, purchase order management, accounts payable, payroll invoice management, journal entries, and accounting reports like general ledger and cost reports

#### Can anyone at the company access production accounting?

To access Production Accounting in Wrapbook, your account must have one of the following roles enabled: Company Admin, Accountant, or a custom role with Accounting settings - Full access.

Once you have the appropriate role, follow these steps:

1. In the left-side navigation, click the dropdown menu.
2. Select the project that you want to access production accounting for
3. On the project dashboard in the *Accounting* section, you’ll see an overview of the *Production Accounting Suite* (PAS) features being used

Additionally, you can use the *Accounting* menu in the left-side navigation to access various production accounting features.

#### What’s the difference between using the Production Accounting Suite (PAS) and Cost tracking/Payables in Wrapbook?

*Production accounting* refers to the centralized management of film and TV production finances, which includes various features such as budget tracking, vendor management, and payroll invoice management. It provides a comprehensive overview of all financial aspects related to a production.

On the other hand, *Cost tracking* and *Payables* specifically focus on generating reports that compare committed, actual, and estimated final costs for a project. This includes creating detailed reports that analyze costs per worker, grouped by cost code, and allows for insights into payroll expenses and departmental costs. To learn more, see the [Cost tracking](/v1/docs/cost-tracking) & [Payables](/v1/docs/about-payables) sections of the Help Center.

#### I have PAS enabled and have selected a project in the drop-down menu, but I don't see the Vendor Payments option anymore. What happened?

Your *Vendor Payments* dashboard has been consolidated into the project’s [**Accounts payable**](/v1/docs/about-ap-invoices-pas#access-the-accounts-payable-dashboard) dashboard as part of our recent updates to streamline your payment workflow.

**Where to find vendor payments now:**

1. In the left-side navigation, click the dropdown menu and select the project the payment is associated with
2. Expand the **ACCOUNTING** menu and click **Accounts payable**
3. Your vendor payment information is now organized into the following tabs in the *Accounts payable* dashboard:
  - *Posted & unpaid* - List of finalized and unpaid invoice transactions
  - *Payment approvals* - Track and manage vendor payment batches that have been submitted for approval
  - *Paid* - Shows [vendor payments](/v1/docs/about-vendor-payments-pas) and payables that have been fully completed and paid

**Why this changed:**

We consolidated vendor payments into the [*Accounts payable*](/v1/docs/about-ap-invoices-pas) workflow so you can manage everything from invoice creation through approvals to payments in one place, without switching between different pages.

**What this means for you:**

- All your existing vendor payment data is still available
- You can still pay vendors using CASHétPay, paper checks, and ACH bank transfers
- Payment approvals now follow the same workflow as your other AP approvals
- Your payment history is complete and filterable in the *Paid* tab

If you need help navigating the updated interface, see [About Accounts payable (PAS)](https://help.wrapbook.com/docs/about-ap-invoices-pas) or contact your *Customer Success Manager*.

#### How do I mark an AP transaction as urgent?

If your company has Wrapbook’s *Production Accounting Suite* enabled, [authorized](/v1/docs/roles-permissions) production accountants and administrators can use these steps to mark an AP invoice as *urgent***:**

1. Open the invoice from the [Accounts payable](/v1/docs/about-ap-invoices-pas#access-the-accounts-payable-dashboard) dashboard
2. Click the **More** button, then select **Mark as urgent**

**What happens when a transaction is marked urgent?**

- An **Urgent** indicator appears next to the AP transaction number
- The *Activity* log records who marked it urgent and when
- The *Accounts Payable* dashboard shows an inline urgent alert, and you can use the **Urgency** filter to view **Any**, **Urgent**, or **Not Urgent** transactions
- On the *Payment approvals* tab, any batch that contains an urgent transaction is flagged
- On the *Batch* page, urgent transactions are labeled, and the *Activity* log records who marked them urgent and when

**To unmark a transaction as urgent**

1. Open the invoice from the [Accounts payable](/v1/docs/about-ap-invoices-pas#access-the-accounts-payable-dashboard) dashboard
2. Click the **More** button, then select **Unmark as urgent**

To learn more about AP transactions in PAS, see [About Accounts payable (PAS)](/v1/docs/about-ap-invoices-pas).

#### Can I reopen a closed accounting period?

No, once a period is closed, there is no self-serve option to reverse this action.

**If you accidentally closed a period**, please contact [Wrapbook Support](/v1/docs/how-to-get-help-using-wrapbook). The Support Team can reopen the period on your behalf.

#### Which reports use PO history and effective dates?

The General Ledger and Cost Report can use PO history and **Effective Date** reporting to show Purchase Order information as it existed on a selected date. The Trial Balance supports an **Effective date** filter for calculating balances from the effective-date view, but it does not reflect PO data. Availability can depend on the project's **Purchase order history available** setting.

#### Review unposted transactions before closing an accounting period

Before closing an accounting period, use the pre-close preview to review transactions that are still unposted to the period. This gives you a final review step so you can identify items that may need attention before you close the period.

Review the transactions shown and follow your normal workflow for resolving any items that require attention. The preview is a review tool. It does not replace the period-close process or post transactions for you.

#### What happens when a new transaction is created while an accounting period is locked?

When accounting period lock is enabled for your company, Wrapbook routes a new transaction to the next available open accounting period instead of the locked period.

For [OCR-ingested AP invoices](/v1/docs/create-an-ap-invoice-pas#what-is-ocr-technology), Wrapbook moves the invoice draft to the next available open period. A banner appears in the invoice draft view in **AP Inbox** and identifies the original ingestion date and the period where the draft was placed.

For payroll transactions, when a payroll run creates a transaction for a locked period, Wrapbook places the transaction in the next available open period. A banner on the payroll record identifies the intended period and the period where the transaction was placed.

When a banner identifies an available destination period, review the period shown before continuing with your normal workflow. If no open period is available, the banner indicates that the transaction cannot be placed automatically. Contact your administrator to open an accounting period before processing can continue.

#### What happens when I create a distribution change for a posted transaction in a locked period?

A [team member](/v1/docs/members) without [permission](/v1/docs/roles-permissions) to create transactions in the locked period can open a posted transaction, click **Distribution Change**, update **Acct** in **Revise Distribution Tags**, and click **Process changes**.

Wrapbook creates a new unposted distribution change using the current date. The new distribution change cannot be moved back into the locked period and must remain in an open period.

Estimated Final Cost: A number that updates based on acutal costs incurred against the budget

(Purchase Order) A financial document committing the production to expenditure.

(Accounts Payable) Cash disbursements through the payment of vendor invoices and other payables

Vendor billing for products or services rendered.

Recording entries to the general ledger in the computer accounting system.

The procedure of reconciling (sometimes referred to as balancing cash) the bank balance reflected on a ledger to the bank balance reflected on a bank statement for a given period; to balance a bank statement.

Original and detailed book of record for all accounting transactions arranged by departmental account codes that occurs throughout the lifetime of a production.

(General Ledger) Original and detailed book of record for all accounting transactions arranged by departmental account codes that occurs throughout the lifetime of a production.

The summary statement of all accounts in the general ledger. This document accompanies the weekly Cost Report.

A detailed weekly report that summarizes cost compared to budget. This summary document is organized by department and reflects cost analysis in terms of current week’s spend, actual spend to date, PO commitments, estimate to complete (ETC), current estimated final cost (EFC), product placement monies, current budgeted amount, and any overages (approved or not), and overage/underage detail by account.

Similar to a journal entry, a distribution change is used to correct an entry to the general ledger. It is a function within the accounting system used and can make changes faster than creating and entering a journal entry.Distribution changes require documentation and a transaction (or reference) number as would a JE.