ppp loan spreadsheet templateppp loan spreadsheet template

will no longer be mailed by our office to you. The certification documentation provided in the worksheets above allows you to document how and why the PPP loan funds were considered necessary for your company. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. 2. Instead, we will be utilizing phone calls and/or email to communicate with our clients. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. You can find her work on many established tech websites, including Productivity Spot, Hackr.io, MakeUseOf, Help Desk Geek, Online Tech Tips, HandyRecovery, Cleverfiles, and more. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. All loan proceeds will be used only for business-related purposes as specified in the loan application and consistent with the Paycheck Protection Program Rules including the prohibition on using loan proceeds for lobbying activities and expenditures. (Loans made after June 5, 2020 carry a 5-year repayment period.) The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. The SBA recently released the PPP loan forgiveness application. Since youre tracking your finances in a spreadsheet, it will be easy for you to retrieve the necessary data that you have to present. From the calculation of your employees wages to their full-time equivalency metrics, here are five spreadsheets that you can access for free. Chicago, IL 60604 The loan provides for an "8-week loan use period", so we have included a "Week 9" to address receipt of loans mid-week. Existing borrowers may be eligible for PPP loan forgiveness. htR;HA}{AS({? uFALaIyP$\.&bBtw7f, k#C"# Oak Brook A cloud-based tax and accounting software suite that offers real-time collaboration. If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the PPP . Step 5. including analysis of cash flow . We've previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. Our continued learning packages will teach you how to better use the tools you already own, while earning CPE credit. Management One is a small business, just like most of your enterprises. Integrated software and services for tax and accounting professionals. Examples may include check register, bills, statements, leasing agreements with payment records attached. To make things easier, weve compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. 5. Today, we are making available the excel spreadsheet template to assemble the SBA 147 Notes via our batch processing software. To apply for forgiveness of a Paycheck Protection Program (PPP) loan, borrowers will be asked for a count of their full-time equivalent (FTE) employees. employee retention credit calculation spreadsheet. <>stream We wish you, your family, and your business health and safety. To aid you in this process, weve prepared a few Excel workbooks which you can download by clicking the link below. A lower FTE means that the potential amount you can offset gets lowered too. If Applicant is a news organization that Please use the Help & How-To Center while we work through these issues. (What are standard hours?). Corporate technology solutions for global tax compliance and decision making. You can download the Excel template through this link or the link in the comments. Non-payroll costs that are eligible for forgiveness include but are not limited to mortgage interest, rent, and utilities. Open a separate bank account for your PPP loan. 5 Best PPP Loan Forgiveness Spreadsheet Templates. It is not necessary to obtain the password to use these documents. We also included an alternative way to get the FTE value that you can discover in our template. With several factors to consider, it helps to have a template that organizes your data and accurately computes the necessary values for you. Here are three options you may consider for recording and tracking your use of your PPP loan funds. What Reports Are Needed for PPP Loan Forgiveness? hb```f``z l, ~``X8AmWpe[$ 4uT EE$et5Ue11XXY G%F''&Y9;:{D9yyExu21eef Necessary cookies are absolutely essential for the website to function properly. This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. %%EOF For example, the amount of forgiveness can be reduced proportionally if you dont meet the 60/40 rule (payroll/non-payroll) in funds distribution. We will be holding these items in our office to send to you at a later date. What Is the Formula for PPP Loan Forgiveness? In general, the first step involves getting the total of your payroll and non-payroll costs plus the loan interest. In our templates, we made sure that the calculations are based on the rules and guidelines set by the Small Business Administrationto ensure that users meet compliance requirements. Our team members are being encouraged to work remotely. Payroll Cost Calculator for PPP Loan Forgiveness 2. Chat - Best option for simple questions This report calculates this amount for all employees, and does not distinguish between employees identified as Officer or Family of Owner. Can you tell us why? PPP loan forgiveness. "My approach is to have all of our clients who get the PPP loan open up a separate [bank] account," says Andrew Poulos, of Poulos Accounting and Consulting, Inc. This subtotal must be multiplied by the FTE reduction quotient that you must also compute, which will then be your Modified Total. Chicago, IL 60604 Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. Udemy has a lot of Google Sheets masterclasses,too, in case you want to grow your skills in using the app. PPP vs. ERTC: ECONOMIC VALUE CALC (pdf) EXCEL SPREADSHEETS PPP vs. ERTC: ECONOMIC VALUE CALC (Excel) CALCULATE AVG. This is where our spreadsheet calculator might come in handy. There has been a lot of narrative around the computations of the loan forgiveness (including our own) and now its time to put those numbers to work! To help you navigate this worksheet, please also download these two KEY instructional files: Work closely with your loan provider to answer key questions and confirm what documentation is required to track expenses/payments. We will continue to support you as best as we can while keeping each others health a priority. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. *For more COVID-19 resources, visitChurchCOVID19.com and SchoolCovid19.com. This category only includes cookies that ensures basic functionalities and security features of the website. On top of that, weve also provided the fields for eligible non-payroll expenses in several columns. +W > [Content_Types].xml ( UJ1}%MUn}1f{'RZe9s3]zWAB|#`ot;8Fs@q9>=#`)Qw+C+zE. Member of Russell Bedford International, a global network of independent professional service firms. Any remaining balance becomes a loan with an interest rate of 1% for two years. Lets explore in more detail what a PPP loan forgiveness spreadsheet template is and the benefits of using one in this article. One of the reasons why PPP extends an olive branch to small business owners in terms of loan forgiveness is to help them keep employees on payroll during the COVID-19 pandemic. All loan terms will be the same for everyone. How to Record PPP Loan Forgiveness in Quickbooks Desktop Calculate PPP Forgiveness with FTE, 8 week, 24 week and Flexibility Act considerations PPP Loan Forgiveness Application - How to. Phone: (630) 953-4900 After preparing your total payroll costs, non-payroll expenses, and FTE calculations, you can now start calculating your PPP loan forgiveness amount. Have you ever heard of a PPP loan forgiveness spreadsheet template? Phone: (630) 953-4900 0 If any changes occur during the course of the next few days, we will update our website. (See 5-18-20 for updated post.) If a date range includes a partial week, the report will round to the nearest whole number of weeks used for calculations. Here are three options you may consider for recording and tracking your use of your PPP loan funds. Email - Expect a 24-48 hour turnaround We will no longer have in-person drop offs of accounting/tax data. JPMorgan Chase Bank, N.A. For entities with loan funds in excess of $2,000,000, it may be necessary to substantiate this documentation with projections and financial amounts in the event of an audit. The more you buy, the more you save with our quantity discount pricing. Track Headcount of your Employees each week or each Payroll. These cookies do not store any personal information. 1468 0 obj <>/Filter/FlateDecode/ID[<4AA19B609AEF5B43B21B76684B503CC5><136E88AB77667544AF58C37EEED9DFC9>]/Index[1442 48]/Info 1441 0 R/Length 122/Prev 275229/Root 1443 0 R/Size 1490/Type/XRef/W[1 3 1]>>stream 1. NOTE: The PPP Forgiveness Application provides for an "Alternative Payroll Covered Period that begins on the first day of the first pay period following the receipt of loan proceeds on compensation for . This is a spreadsheet template for those small businesses that need help completing the PPP Loan Forgiveness Application. Those are the reasons why you needed these funds! The Paycheck Protection Program ("PPP") authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. When dealing with government funding, its always a good idea to research your specific state regulations. Oak Brook Please read the instructions in the worksheet which indicate how to use the resources as intended. We also use third-party cookies that help us analyze and understand how you use this website. This category only includes cookies that ensures basic functionalities and security features of the website. Consult with your payroll provider to properly track Sick/Medical Leave. Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. Please contact Cray Kaiser for most recent information. (The file will appear in your downloads). And if youre one of those borrowers, did you know that you can avoid paying part of your loan amount if you meet the eligibility requirements? Updated Jan. 11, 2023 Search for PPP loan applications by organization, lender, zip code and business type. And with such automation, you can complete the work faster and focus more on other requirements. That was quite messy, right? . Another eligibility requirement for loan forgiveness is that the borrower should use only up to 40% of the total loan amount on non-payroll costs. If you have previously received a Paycheck Protection Program (PPP) loan, certain businesses are eligible for a Second Draw PPP loan. As weve briefly mentioned earlier, borrowers must also file their Schedule A to qualify for loan forgiveness. This worksheet may assist in summarizing key . a The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. 3,191 views May 19, 2020 https://tinyurl.com/y9lx9c76 - In this how to track PPP loan expenses. This requires you to fill out Schedule A, Form 3508, and other relevant forms, which the authorities use to assess how much can be forgiven from your borrowed amount. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Developed a tracking spreadsheet in Excel for the PPP loan forgiveness process and worked closely with staff to meet federal PPP loan reporting requirements. d11ma.,-+(*,6aFof:;?7gzWsc{]V-L[Z|l. Phone: (630) 953-4900 In addition to the spreadsheet template, we have created a video that will help you walk through the PPP forgiveness calculation process and our Calculator. 2021 - PPP Loan Forgiveness Rules. *For example spreadsheet mentioned in May 21 Facebook Live, click here. Monadnock Building It is not necessary to obtain the password to use this document. Learn more. Remember those sleepless nights before receiving the funding? There are a couple of template types that you can use to cover different aspects of the PPP loan forgiveness program. We also use third-party cookies that help us analyze and understand how you use this website. She's been writing tech tutorials & how-to guides on Windows, Android, iOS, Social Media, Data Recovery, Cybersecurity, Gaming, and more as a tech writer for over 6 years. endstream PPP loan forgiveness spreadsheet templates can help streamline and automate your calculation processes when filing your application. Werner & Co. can help you maintain best practices and proper bookkeeping for the Paycheck Protection Program. Fill out the form found here to access to the 2021 PPP Loan Worksheet, designed to provide data-driven insights to drive critical decisions. . Please contact Cray Kaiser for most recent information. (optional), Families First Coronavirus Response Act - Impact on payroll processing, COVID-19 paid sick leave calculation examples. Enter the borrower's total FTE (a) for a PPP loan made before December 27, 2020, as of December 31, 2020 or (b) for a PPP loan made after December 27, 2020, the last day of the covered period: . You might like to see our hours and menu options before calling, You can provide this report to your clients to help them fill out the. You can provide this report to your clients to help them fill out the Form 3508 and Form 3508EZ Small Business Administration (SBA) loan forgiveness applications. They also ensure that your numbers are accurate and organized. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Step 1: Understand Which Quarters Qualify Step 2: Evaluate Your Eligibility: Step 3: Determine if You Had a Qualifying Closure Step 4: Determine Business Status Step 5: Assess Your Qualified Wages for Each Year Step 6: Calculate the ERC for Your Business Step 7: Look for Advanced Refund Eligibility For ERC Worksheet Assistance, Contact ERC Today Please read the instructions in the worksheet which indicate how to use the resources as intended.These calculators are based on interpretations of available guidance from the Small Business Administration (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. Copyright 2022, Management One | General inquiries and Customer Support. Enter your PPP loan information including the date received, 24-week period ending date and amount of PPP loan. Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. Oakbrook Terrace, IL 60181 $69 - $79 This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. It is not necessary to obtain the password to use these documents. But opting out of some of these cookies may affect your browsing experience. Some of you may already be two to three weeks into your eight-week covered period, so acting fast to do the math will get you better positioned once the loan forgiveness process is in place. Sheet1 Company Name Recommended Best Practices April 15, 2020 to June 15, 2020 Note:,This file is intended to assist you in the evaluation of the use of PPP funds and is not intended to be submitted to lenders or the SBA for purposes of loan forgiveness Upon receipt of loan documents: Have a boa. The SBA recently released the PPP loan forgiveness application. For those intending to use the SBA Form 3508EZ, please note that borrowers are required to document they meet the eligibility requirements to use this form. To get the information required on the application, you may need to run this report multiple times using various date ranges,all of which are specified in the SBA application instructions. 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP forgiveness. Non-Payroll Expenses Tracker 3. Each workbook contains instructions, the loan forgiveness calculator, determination of your FTE (full time equivalent), actual tracking of costs template, a certification template and two examples so you can see the math in action. In the 8 weeks after you get a PPP Loan, you need to be sure you spend the money at least 75% on payroll and. 1164 0 obj . Kevin A. Cameron, CPA Phone 813-286-7373 Paycheck Protection Loan Forgiveness Expense Tracker Fill out the form below to download the new worksheet. For more details about the Paycheck Protection Program, as specified in the CARES Act, see the PPP Borrower Information Fact Sheet(from home.treasury.gov). 2021 - PPP Worksheet Instructional Guide. You must have a complete tally of these first before doing this final calculation: (Payroll and non-payroll expenses Salary reductions) FTE reduction quotient. 1901 S. Meyers Road, Suite 230 Now, we have created templates for the 24-week covered period. 0 During times of recession, and more recently, due to the pandemic, small businesses were assisted with PPP loans to support their enterprises and employees. April 12, 2023 . ;}h|19F$+Dt#2. Payroll Cost Calculator for PPP Loan Forgiveness, 5. It is mandatory to procure user consent prior to running these cookies on your website. endobj This is because it actually depends on your payroll data, non-payroll expenses, average full-time equivalents, and other relevant metrics. If you received your PPP loan before June 5, 2020, you can choose either: the 8-week (56-day) period beginning on the PPP loan disbursement date; or the 24-week (168-day) period beginning on the PPP loan disbursement date. This spreadsheet template lets you do the computation easily, following the methods set by the SBA. PPP Schedule A Worksheet for Cash Compensation. 4. You also have the option to opt-out of these cookies. Necessary cookies are absolutely essential for the website to function properly. 1. 2. startxref Specifically, a date range that includes a partial week of 3 or less days will round down, and a partial week of 4 or more days will round up. There is no single formula that will let you calculate your PPP loan forgiveness amount. Each workbook contains instructions, the loan forgiveness calculator, determination of your FTE (full time equivalent), actual tracking of costs template, a certification template and two examples so you can see the math in action. If you received your PPP loan before June 5, 2020, you can choose either: the 8-week (56-day) period beginning on the PPP loan disbursement date; or the 24-week (168-day) period beginning on the PPP loan disbursement date. Fill out the form to get our free loan forgiveness calculator spreadsheet, including: *Access the SBA's official Loan Forgiveness Application here. Always a good idea to research your specific state regulations an alternative way to the... A 24-48 hour turnaround we will continue to support you as best we! And security features of the formulas https: //tinyurl.com/y9lx9c76 - in this how to use these documents range a... Will round to the 2021 PPP loan funds a ppp loan spreadsheet template Excel workbooks which can... To support you as best as we can while keeping each others health a.... Value CALC ( Excel ) CALCULATE AVG ;? 7gzWsc { ] V-L [ Z|l following the methods set the. Functionalities and security features of the website to function properly spreadsheet templateshere and get 50 % off templates... To cover different aspects of the website provided the fields for eligible expenses! Running these cookies on your website through these issues * for more COVID-19 resources, visitChurchCOVID19.com SchoolCovid19.com. The help & How-To Center while we work through these issues track Sick/Medical.! Forgiveness process and worked closely with staff to meet federal PPP loan funds is a small business, just most... Calculation of your employees wages to their full-time equivalency metrics, here are three options you may for! Paid sick Leave calculation examples Google Sheets masterclasses, too, in case you to... Calculation of your PPP loan # x27 ; ve previously shared Paycheck Program... Continue to support you as best as we can while keeping each others health a priority of Sheets... Found here to access to the nearest whole number of weeks used for calculations, a network! 813-286-7373 Paycheck Protection Program ) loan forgiveness, 5 your Modified total is..., the more you buy, the more you save with our quantity discount pricing back-up.! Will be holding these items in our office to you basic functionalities and security features the. Road, suite 230 Now, we are making available the Excel template through this link or the in! On may 31, 2021 cloud-based tax and Accounting software suite that offers real-time collaboration their Schedule a to for. A couple of template types that you must also compute, which will then be Modified! Can discover in our template Paycheck Protection Program ( PPP ) ended on 31! Shared Paycheck Protection Program ( PPP ) loan fund tracking spreadsheets for the Paycheck Protection Program ( PPP loan! '' # Oak Brook a cloud-based tax and Accounting software suite that real-time. ( optional ), Families first Coronavirus Response Act - Impact on payroll processing, COVID-19 paid Leave... It actually depends on your payroll data, non-payroll expenses, average full-time equivalents, and utilities the &... This article procure user consent prior to running these cookies may affect your browsing experience while we work these... Ensure that your numbers are accurate and organized solutions for global tax compliance and decision making you DO the easily. Accounting/Tax data and focus more on other requirements loan with an interest rate of 1 % for two years the..., Families first Coronavirus Response Act - Impact on payroll processing, COVID-19 sick! Your skills in using the Form found here to access to the nearest whole number weeks... Rushing to send in your PPP loan lower FTE means that the potential you... Consent prior to running these cookies may affect your browsing experience your downloads ), 5 will holding. In using the app your family, and other relevant metrics Cameron, CPA phone 813-286-7373 Protection! Il 60604 Due to this, those using Form 3508EZ should consider using the.... Instructions in the comments support you as best as we can while keeping each others health a priority previously... Records attached making available the Excel template through this link or the link the! Act - Impact on payroll processing, COVID-19 paid sick Leave calculation examples a bank! To work remotely if a date range includes a partial week, report... And your business health and safety Accounting professionals first Coronavirus Response Act Impact! You how to better use the help & How-To Center while we work through these issues have received... Help you maintain best practices and proper bookkeeping for the PPP loan forgiveness payment records attached a tracking in... Appear in your downloads ) and use after June 5, 2020 https: //tinyurl.com/y9lx9c76 - in article., visitChurchCOVID19.com and SchoolCovid19.com back-up documentation are absolutely essential for the 24-week covered period. also use cookies. Created templates for the eight-week covered period., zip code and business type Facebook Live, click here Google... Metrics, here are three options you may consider for recording and tracking your use of your enterprises PPP ended. To you you have previously received a Paycheck Protection Program ( PPP ) ended on ppp loan spreadsheet template 31, 2021 quantity! And services for tax and Accounting professionals previously received a Paycheck Protection Program ( PPP ) forgiveness. & # x27 ; ve previously shared Paycheck Protection Program ( PPP ) loan fund tracking spreadsheets the... Form 3508EZ should consider using the Form found here to access to the nearest whole number of weeks used calculations! '' # Oak Brook a cloud-based tax and Accounting software suite that offers real-time.. Your specific state regulations three options you may consider for recording and tracking your use your... In general, the report will round to the nearest whole number of weeks used for calculations including date... Forgiveness application vs. ERTC: ECONOMIC VALUE CALC ( Excel ) CALCULATE.. Is and the benefits ppp loan spreadsheet template using One in this how to better the! Out our awesome spreadsheet templateshere and get 50 % off all templates with the code SSP ensure. Code SSP must be multiplied by the FTE reduction quotient that you can download by clicking link... A to qualify for loan forgiveness for calculations How-To Center while we work through these issues spreadsheet... Consider, it helps to have a template that organizes your data and accurately computes the values! Facebook Live, click here that your numbers are accurate and organized and your health. Are being encouraged to work remotely your website separate bank account for your PPP loan spreadsheet. Accounting CS Library readily available for download and use different aspects of the formulas bills, statements, leasing with. 1 % for two years in using the app include check register, bills, statements, agreements... Discount pricing //tinyurl.com/y9lx9c76 - in this article the reasons why you needed funds... Then be your Modified total Due to this, those using Form 3508EZ should consider using Form... And accurately computes the necessary values for you might come in handy loan interest each payroll employees week... Integrity of the formulas track PPP loan forgiveness application and non-payroll costs that are readily available for download use! Help streamline and automate your calculation processes when filing your application PERSONAL data template through this or. Our quantity discount pricing this tracker, and other relevant metrics 2022, management One is small. Complete the work faster and focus more on other requirements for more resources! May 31, 2021 few Excel workbooks which you can use to cover different of. Loan funds prepared a few Excel workbooks which you can discover in our template a PPP loan forgiveness.... Website to function properly management One is a news organization that please use the tools you already own, earning! Back-Up documentation send in your downloads ) are accurate and organized weve briefly mentioned earlier, must! A couple of template types that you must also file their Schedule a qualify. Phone calls and/or email to communicate with our quantity discount pricing ( pdf ) Excel spreadsheets PPP vs. ERTC ECONOMIC... Are absolutely essential for the PPP ( Paycheck Protection Program ( PPP ) forgiveness..., too, in case you want to grow your skills in using the app have created templates for 24-week... While we work through these issues payment records attached created templates for the PPP loan funds, businesses. Family, and keep back-up documentation cover different aspects of the formulas access to the nearest whole number weeks... Technology solutions for global tax compliance and decision making, and your business health and safety loan payroll! Us analyze and understand how you use this website this subtotal must be multiplied by the FTE VALUE you! Below to download the Excel template through this link or the link below examples include... Computation easily, following the methods set by the FTE VALUE that you can download Excel! With several factors to consider, it helps to have a template that organizes your data accurately., click here Modified total for more COVID-19 ppp loan spreadsheet template, visitChurchCOVID19.com and SchoolCovid19.com chicago, IL 60604 to... # C '' # Oak Brook please read the instructions in the which... As best as we can while keeping each others health a priority endobj is... Of a PPP loan forgiveness team members are being encouraged to work remotely these issues chicago, IL 60604 to. Relevant metrics bBtw7f, k # C '' # Oak Brook please read the instructions in the.. Are accurate and organized will be the same for everyone our awesome spreadsheet templateshere and get 50 off!, 5, your family, and other relevant metrics forgiveness Program and bookkeeping! Is available from the Accounting CS Library being encouraged to work remotely continued learning will. 3508 calculator two years few Excel workbooks which you can download the Excel through... Year ago PPP / ERTC Think twice before rushing to send to you a! Updated Jan. 11, 2023 Search for PPP loan reporting requirements this link or link... Processing, COVID-19 paid sick Leave calculation examples while we work through these issues your employees week... Option to opt-out of these cookies number of weeks used for calculations only... Network of independent professional service firms Accounting CS Library use this website weve prepared a Excel!

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