With Wrapbook, you can fund payroll by either:
Linking your company’s bank account(s)
Setting up a drawdown account to fund project payrolls
Access Funding methods
Funding methods are permission based
To access, your account must have one of the following roles enabled:
Role: Company Admin
Custom role with: General settings - Full access, Funding methods - Full access, View only
To access Funding methods:
In the left-side navigation, click the dropdown menu
In the dropdown menu, select All projects
In the left-side navigation, click Company settings
Scroll down the page until you see Funding methods
Bank accounts
Before linking a bank account to a company in Wrapbook, you’ll notify your bank that you’ll be running payroll through Wrapbook to avoid delays. This will prevent unnecessary delays when processing payroll.
Our full legal name: TakeOne Network Corp
Our bank: JP Morgan Chase Bank
Transactions in your company’s bank history from Wrapbook will be displayed as "TakeOne Network".
Link a bank account
Funding methods are permission based
To update, your account must have one of the following roles enabled:
Role: Company Admin
Custom role with: General settings - Full access, Funding methods - Full access
Wrapbook uses Plaid to connect your bank accounts. Plaid is a secure financial platform that serves as a trusted intermediary to protect your sensitive banking information.
To link a bank account:
On the Company settings page, in the Funding methods section, click the Manage button next to Bank accounts
On the Bank account settings page, click the Link bank account(s) button
In the popup, click the Continue button
Select the name of the bank for the account. You can scroll through the choices, or enter the bank’s name in the search box.
Click the Continue to login button
In the new popup, login to the bank account
Choose how you’d like to verify your identity. Your options are based on the bank account’s multi-factor authentication preferences.
Once a bank account has been successfully linked to a company in Wrapbook, you’ll see it listed on the Bank accounts settings page.
Drawdown accounts
A drawdown account is an account set up in Wrapbook that a company uses to fund payroll instead of having it directly debited from external bank accounts.
If you want to use a drawdown account, please contact your Wrapbook Customer Success Manager to request setup.
Always confirm that there are sufficient funds in the drawdown account before running payroll
You can send money to your company’s Wrapbook drawdown account by initiating either a wire or ACH transfer from your bank
It typically takes one business day to see the funds applied to the drawdown account. Wrapbook will email you a notification once funds have been applied.
When a payroll is run, Wrapbook will withdraw the funds from the drawdown account
See your drawdown account balance
On the Drawdown balance page, you can view the account balance at any time, along with a complete transaction history. The drawdown balance link will only be visible in the left-side navigation if there’s an active drawdown account in place.
To see your drawdown account balance:
In the left-side navigation, click the dropdown menu
In the dropdown menu, select All projects
In the left-side navigation, click Payroll
Under Payroll, click Drawdown balance