d11ma.,-+(*,6aFof:;?7gzWsc{]V-L[Z|l. And ensuring that you dont exceed this amount is crucial, as it determines whether you will be able to enjoy the full benefits of the scheme. These cookies will be stored in your browser only with your consent. startxref Download the PPP Forgiveness Calculator (Form 3508), File name: ppp-forgiveness-calculator.xlsx, Download the PPP Forgiveness Calculator (Form 3508S), File name: 3508S-ppp-loan-forgiveness-calculator.xlsx, Download the PPP Forgiveness Calculator (Self-Employed Individuals without Employees), File name: se-ppp-loan-forgiveness-calculator.xlsx, Every bit of feedback you provide will help us improve your experience. Fill out the form below to download the new worksheet. This includes the SBA 147 Note, Closing Certification, and . Chat - Best option for simple questions 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. The PPP Loan Forgiveness Payroll worksheet assumes that an employee workedstandard hours if all of the following conditions are true. Our team members are being encouraged to work remotely. 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 Examples may include check register, bills, statements, leasing agreements with payment records attached. 2021 - PPP Worksheet Instructional Guide. Copyright 2022, Management One | General inquiries and Customer Support. Phone: (630) 953-4900 Step 4. PPP Forgiveness Calculator 5. The American Institute of CPAs (AICPA) has created a loan forgiveness calculator (excel spreadsheet download) for the Paycheck Protection Program (PPP) to help resolve outstanding issues with the process.. . 1. <>stream SpreadsheetPoint is supported by its audience. . PPP Schedule A Worksheet for Cash Compensation. 2. Download our specially prepared expense spreadsheet to track all the necessary PPP expense information to stay in compliance. Connect with other professionals in a trusted, secure, environment open to Thomson Reuters customers only. After preparing your total payroll costs, non-payroll expenses, and FTE calculations, you can now start calculating your PPP loan forgiveness amount. Now, we have created templates for the 24-week covered 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). What Reports Are Needed for PPP Loan Forgiveness? Download Excel | Try Smartsheet. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Phone: (630) 953-4900 Monadnock Building This category only includes cookies that ensures basic functionalities and security features of the website. Work closely with your loan provider to answer key questions and confirm what documentation is required to track expenses/payments. Here are three options you may consider for recording and tracking your use of your PPP loan funds. 5 Best PPP Loan Forgiveness Spreadsheet Templates. +W > [Content_Types].xml ( UJ1}%MUn}1f{'RZe9s3]zWAB|#`ot;8Fs@q9>=#`)Qw+C+zE. Enter the total wages paid during the PPP coverage period, after the mandated shutdown ended and through the end of the 24-week period. Keep track of Other Expenses. 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. Phone: (630) 953-4900 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. 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. Consult with your accountant and/or loan provider to receive full information about your region. 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If Applicant is a news organization that Non-payroll costs that are eligible for forgiveness include but are not limited to mortgage interest, rent, and utilities. Weve added two separate tabs for employees earning under $100K and those with more than $100K salaries. The SBA recently released the PPP loan forgiveness application. CARES Act - Paycheck Protection Program Loan Forgiveness Spreadsheet. Learn more. 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. There are a couple of template types that you can use to cover different aspects of the PPP loan forgiveness program. Track Headcount of your Employees each week or each Payroll. This will eliminate the need for you to drop off your tax information at our office. endstream All loan terms will be the same for everyone. The Salaried amount pay item has an amount associated with it on the payroll check. 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. Customize it using your account names and numbers, and drill down as specifically as you want to. Have an easier time calculating your potential forgiveness amount and managing your expenses with our five free templates today. 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. 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. Effective immediately: We want to remind our clients of our portal access and your ability to safely and securely share your information with our team. 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 You also have the option to opt-out of these cookies. These cookies do not store any personal information. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. We anticipate more guidance in the upcoming weeks and will keep you informed on our blog as we know more. Oak Brook FTE Calculator for PPP Loans 4. If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the . 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 PLEASE NOTE: This spreadsheet is locked to maintain the integrity of the formulas. Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. This subtotal must be multiplied by the FTE reduction quotient that you must also compute, which will then be your Modified Total. 6. endstream endobj startxref This category only includes cookies that ensures basic functionalities and security features of the website. Oakbrook Terrace, IL 60181 Instead, please drop off any packages outside the office door of our suite in the box provided. During times of recession, and more recently, due to the pandemic, small businesses were assisted with PPP loans to support their enterprises and employees. Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. Please contact Cray Kaiser for most recent information. PPP Loan Forgiveness Calculations Service 1164 0 obj 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. Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. 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. We also included an alternative way to get the FTE value that you can discover in our template. Its best practice to complete these worksheets regardless of your funding to be ready in the event you are asked. This website uses cookies to improve your experience while you navigate through the website. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. For current PPP Loan Requirements go to sba.gov NOTE: If the total salary for an employee is greater than $100,000, enter $100,000. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. 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. Here are three options you may consider for recording and tracking your use of your PPP loan funds. That was quite messy, right? If you want to know more about how you can use Google Sheets not only for your PPP loan forgiveness but also in other parts of your business, dont forget to browse our blogs! "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. Event Budget Template. Integrated software and services for tax and accounting professionals. Please use the Help & How-To Center while we work through these issues. Payroll documentation might include tax filings to the IRS and receipts. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. Non-Payroll Expenses Tracker 3. 1442 0 obj <> endobj Free PPP Loan Forgiveness Spreadsheet Templates 1. (optional), Families First Coronavirus Response Act - Impact on payroll processing, COVID-19 paid sick leave calculation examples. employee retention credit calculation spreadsheet. Email - Expect a 24-48 hour turnaround 5. Aside from the forgiveness form, borrowers must also submit reports like total payroll documentation, proof of payments, FTE files, non-payroll documentation, and certification of eligible expenses to apply. Please read the instructions in the worksheet which indicate how to use the resource as intended. As things continue to evolve in light of the COVID-19 pandemic, we at CK are taking additional precautions for the benefit of our team members and our clients. Fax: (630) 953-4905, Chicago The loan forgiveness calculators use available guidance from the Small Business Administration (SBA) and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. *For spreadsheet instructions, click here. But opting out of some of these cookies may affect your browsing experience. Since youre tracking your finances in a spreadsheet, it will be easy for you to retrieve the necessary data that you have to present. Emma Collins is a tech writer for Spreadsheet Point. Then, compare this value against your original loan amount and 60% of your payroll costs to find which is the minimum your forgiveness amount. And most importantly, we also included a section where you can calculate your FTE exceptions. On top of that, weve also provided the fields for eligible non-payroll expenses in several columns. Kevin A. Cameron, CPA Phone 813-286-7373 Paycheck Protection Loan Forgiveness Expense Tracker 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. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. We've previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially serve you from home. 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. Weekly, bi-weekly, monthly, and FTE calculations, you have to deduct your FTE exceptions check out awesome... Ensures basic functionalities and security features of the formulas Note, Closing Certification, and semi-monthly workbooks members being! Guidance in the box provided your region your accountant and/or loan provider to answer key questions confirm. ;? 7gzWsc { ] V-L [ Z|l information to stay in compliance hospice, television, Kasowitz Benson,. Program loan forgiveness costs, non-payroll expenses, and FTE calculations, you can now start calculating your potential amount. 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