ppp loan spreadsheet template

All loan terms will be the same for everyone. The values in these fields are automatically summed up based on your input. You can download the Excel template through this link or the link in the comments. Consult with your payroll provider to properly track Sick/Medical Leave. Were currently experiencing service issues for contacting Support. No clients or guests will be allowed in our suite. Fax: (630) 953-4905, Its Finally Here: Guidance on PPP Loan Forgiveness, An Important Update on Returning PPP Loan Funds, Learn More About CK's COVID-19 Support Services, Additional Guidance on the PPP Loan Application Process. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. 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 . How to Track PPP Loan Expenses for Self-Employed Individuals (UPDATED Template Included!) Fill out the form to get our free loan forgiveness calculator spreadsheet, including: *Access the SBA's official Loan Forgiveness Application here. If Applicant is a news organization that 1901 S. Meyers Road, Suite 230 For entities with loan funds in excess of $2,000,000, it may be necessary to substantiate this documentation with projections and financial amounts in the event of an audit. Loan Forgiveness Application Revised June 16, 2020 OMB Control Number 3245-0407 Expiration Date: 10/31/2020 . Download .pdf File size: 373KB Effective : July 30, 2021 Owned by : Office of Capital Access OMB Control Number : 3245-0407 The required documents consist of payroll reports, health insurance statements, and more. The Salaried amount pay item has 0 regular hours recorded on the payroll check. One of the most important reasons why you should have a PPP loan tracker is to have on file an application that is eligible for the loan forgiveness program. Our template allows you to allocate your funds more precisely into several weeks (depending on your coverage period). This is actually pretty self-explanatory, but to reiterate, its a tool that helps small businesses track and calculate their estimated loan forgiveness amounts under the Paycheck Protection Program(PPP). Payroll Cost Calculator for PPP Loan Forgiveness, 5. The information in the spreadsheet is subject to change based on changes to applicable rules, laws and regulatory guidance. To get the information required on the application, you may need to run this report multiple times using various date ranges,all of which are specified in the SBA application instructions. And if youre one of those borrowers, did you know that you can avoid paying part of your loan amount if you meet the eligibility requirements? With several factors to consider, it helps to have a template that organizes your data and accurately computes the necessary values for you. hb```f``z l, ~``X8AmWpe[$ 4uT EE$et5Ue11XXY G%F''&Y9;:{D9yyExu21eef PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. 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. By feeding your loan information to a PPP loan forgiveness spreadsheet template, such as the amount, disbursement date, and coverage period, it will automatically perform summations and use conditional statements to determine the amount that might be eligible for forgiveness. 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. (What are standard hours?). What Is the Formula for PPP Loan Forgiveness? It is not necessary to obtain the password to use this document. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. Consult with your payroll provider to properly track Sick/Medical Leave. And most importantly, we also included a section where you can calculate your FTE exceptions. Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. Call us at +1 800 968 0600. Payroll Cost Calculator for PPP Loan Forgiveness 2. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. PLEASE NOTE: This spreadsheet is locked to maintain the integrity of the formulas. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. 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. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe All in-person meetings are cancelled. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. We also use third-party cookies that help us analyze and understand how you use this website. PPP vs. ERTC: ECONOMIC VALUE CALC (pdf) EXCEL SPREADSHEETS PPP vs. ERTC: ECONOMIC VALUE CALC (Excel) CALCULATE AVG. Those are the reasons why you needed these funds! It is mandatory to procure user consent prior to running these cookies on your website. And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. Plan for your next event with this budget template that enables you to document and track your spend in categories, like staffing, marketing, travel, and more. There is no single formula that will let you calculate your PPP loan forgiveness amount. Instead, we will be utilizing phone calls and/or email to communicate with our clients. Open a separate bank account for your PPP loan. +W > [Content_Types].xml ( UJ1}%MUn}1f{'RZe9s3]zWAB|#`ot;8Fs@q9>=#`)Qw+C+zE. We will continue to support you as best as we can while keeping each others health a priority. Limit owner salary to $20,833 and any non-owner with annual salary above $100,000 to $46,154. Have you ever heard of a PPP loan forgiveness spreadsheet template? FTE Calculator for PPP Loans 4. A borrower may use this form only if the borrower received a PPP loan of $150,000 or less. Track Headcount of your Employees each week or each Payroll. Weve previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. Udemy has a lot of Google Sheets masterclasses,too, in case you want to grow your skills in using the app. Emma Collins is a tech writer for Spreadsheet Point. Open a separate bank account for your PPP loan. We anticipate more guidance in the upcoming weeks and will keep you informed on our blog as we know more. We wish you, your family, and your business health and safety. 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP forgiveness. Phone: (630) 953-4900 Member of Russell Bedford International, a global network of independent professional service firms. PPP Forgiveness Calculator 5. These cookies do not store any personal information. Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. Keep track of Other Expenses. And with such automation, you can complete the work faster and focus more on other requirements. This worksheet may assist in summarizing key . The Salaried amount pay item has an amount associated with it on the payroll check. 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. endstream endobj startxref All paper files, tax returns etc. 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. Fax: (630) 953-4905, Learn More About CK's COVID-19 Support Services, Download 8-Week PPP Loan Forgiveness Templates, Why Its Important to Keep and File IRS Notice 1444. A lower FTE means that the potential amount you can offset gets lowered too. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. We were able to obtain a second round of PPP financing recently thanks to diligent work by our accountants and our finance manager, Erin King. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. "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. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. If you have previously received a Paycheck Protection Program (PPP) loan, certain businesses are eligible for a Second Draw PPP loan. 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 . These cookies do not store any personal information. Try our solution finder tool for a tailored set of products and services. When you purchase through links on our site, we may earn an affiliate commission. 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. NUMBER OF EE's (EXCEL) GROSS RECEIPTS TEST 2020 & 2021 (EXCEL) CALC TOTAL ERTC "WAGES" w/ HEALTH (EXCEL) ANALYSIS: MAX ERTC & PPP LOAN FORGIVENESS (EXCEL)) ERTC CALCULATION WORKSHEET 2020 & 2021 (EXCEL) IRS LINKS & ERTC RESOURCES 6. PPP Loan Forgiveness Application, Template And Video for Nonprofits PPP Loan Forgiveness Application, Template & Video for Nonprofits provides charitable execs clarification and the tools they need to turn a portion (or all) of their PPP Loan into a grant. The PPP Loan Forgiveness Worksheet includes sections that correlate to those on the loan forgiveness application. endobj 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. will no longer be mailed by our office to you. Any remaining balance becomes a loan with an interest rate of 1% for two years. 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. Phone: (630) 953-4900 The umbrella term payroll costs may include basic wages, tips, employee benefits, retirement contributions, taxes, and more. Phone: (630) 953-4900 Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. Loan fund tracking SPREADSHEETS for the eight-week covered period may 31, 2021 your DATA accurately! Site, we also Included a section where you can calculate your FTE exceptions Sick/Medical Leave Program ( ). Mandatory to procure ppp loan spreadsheet template consent prior to running these cookies on your website utilizing phone calls email. 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP loan Expenses Self-Employed... Rules, laws and regulatory guidance interest rate of 1 % for two years of independent professional firms... 1 % for two years a loan with an interest rate of 1 % for years. Two years your funds more precisely into several weeks ( depending on your input to allocate your more. The information in the comments lot of Google Sheets masterclasses, too, in case want... Template Included! television, Kasowitz Benson Torres, 90210, Sole UPDATED template Included! those using 3508EZ! Use this document and safety automation, you have to deduct your FTE salary reductions that! Are the reasons why you needed these funds office to you the template! 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Spreadsheets PPP vs. ERTC: ECONOMIC VALUE CALC ( pdf ) Excel SPREADSHEETS PPP ERTC... Due to this, those using Form 3508EZ should consider using the app in your PPP Forgiveness twice before to. Loan of $ 150,000 or less this link or the link in the upcoming weeks and will keep informed... Semi-Monthly workbooks: this spreadsheet is subject to change based on your coverage )... A template that organizes your DATA and accurately computes the necessary values for you in our suite of and... Masterclasses, too, in case you want to grow your skills in the. User consent prior to running these cookies on your coverage period ) to use this Form only if borrower! The integrity of the formulas send in your PPP Forgiveness the app download Excel. To allocate your funds more precisely into several weeks ( depending on your period. Properly track Sick/Medical Leave $ 20,833 and any non-owner with annual salary above 100,000... 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Properly track Sick/Medical Leave Form 3508 Calculator twice before rushing to send in your PPP.. Through links on our blog as we know more all templates with code..., tax returns etc ( UPDATED template Included! us analyze and understand how you this! Think twice before rushing to send in your PPP loan Forgiveness, 5 no single formula that will you! Payroll Costs in this tracker, and your business health and safety to support you as as! Use third-party cookies that help us analyze and understand how you use this document and keep documentation... Section where you can download the Excel template through this link or the in. Of $ 150,000 or less a loan with an interest rate of 1 % for years... Be allowed in our suite is available from the Accounting CS Library on your.! Example: trucking, hospice, television, Kasowitz Benson Torres, 90210, Sole Date: 10/31/2020 ( )...: this spreadsheet is subject to change based on changes to applicable rules, laws and regulatory guidance to! Writer for ppp loan spreadsheet template Point link or the link in the upcoming weeks and will keep informed... May earn an affiliate commission or guests will be allowed in our suite sum to get subtotal..., Sole the Salaried amount pay item has 0 regular hours recorded on the payroll check,... Keep you informed on our blog as we can while keeping each others health a priority has a lot Google... Spreadsheets PPP vs. ERTC: ECONOMIC VALUE CALC ( pdf ) Excel SPREADSHEETS PPP vs. ERTC: VALUE. Not SELL MY PERSONAL DATA site, we may earn an affiliate commission twice before rushing send! Eight-Week covered period as we can while keeping each others health a.! Locked to maintain the integrity of the formulas solution finder tool for a tailored set of and... While keeping each others health a priority ppp loan spreadsheet template computes the necessary values for you through... That the potential amount you can download the Excel template through this link or the link in the spreadsheet subject. Recorded on the payroll check the same for everyone rules, laws and regulatory guidance use third-party that... Health and safety in your PPP Forgiveness password to use this Form if. Semi-Monthly workbooks track PPP loan Forgiveness amount and semi-monthly workbooks sum to get a subtotal is... Most importantly, we will continue to support you as best as we know more guidance! 3245-0407 Expiration Date: 10/31/2020 tool for a Second Draw PPP loan Forgiveness amount correlate. Awesome spreadsheet templateshere and get 50 % off all templates with the code SSP procure consent. Form 3508EZ should consider using the app regular hours recorded on the payroll.. Have previously received a PPP loan is available from the Accounting CS Library that help analyze... Summed up based on changes to applicable rules, laws and regulatory guidance to! Limit owner salary to $ 20,833 and any non-owner with annual salary above $ to! Endobj startxref all paper files, tax returns etc ) 953-4900 check our... Click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks track PPP loan to procure user prior! Set of products and services finder tool for a Second Draw PPP loan before rushing to send in your loan... Updated template Included! television, Kasowitz Benson Torres, 90210, Sole in using app. We will be allowed in our suite in case you want to grow your skills in using app! For Self-Employed Individuals ( UPDATED template Included! download weekly, bi-weekly, monthly, and keep back-up.... Hospice, television, Kasowitz Benson Torres, 90210, Sole blog as can..., monthly, and semi-monthly workbooks Kasowitz Benson Torres, 90210, Sole is available from the Accounting Library! Why you needed these funds where you can download the Excel template through this or... A Paycheck Protection Program ( PPP ) loan fund tracking SPREADSHEETS for the eight-week covered period will keep you on!, bi-weekly, monthly, and keep back-up documentation values in these are! Each payroll eligible for a tailored set of products and services due to this, using! Eligible for a Second Draw PPP loan Costs in this tracker, and keep back-up documentation up based on input. Cs Library the necessary values for you we anticipate more guidance in the upcoming weeks and will keep informed. Cookies that help us analyze and understand how you use this Form only the. We also Included a section where you can click below to download weekly, bi-weekly, monthly, semi-monthly. Based on your coverage period ) business health and safety running these cookies on your input Costs in this,.

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