ppp loan spreadsheet template

Non-Payroll Expenses Tracker 3. But opting out of some of these cookies may affect your browsing experience. Here are three options you may consider for recording and tracking your use of your PPP loan funds. The information in the spreadsheet is subject to change based on changes to applicable rules, laws and regulatory guidance. <>stream PPP Loan Forgiveness Calculations Service Were currently experiencing service issues for contacting Support. 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. 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. Learn more. Chicago, IL 60604 1164 0 obj 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. A lower FTE means that the potential amount you can offset gets lowered too. *For spreadsheet instructions, click here. Comprehensive research, news, insight, productivity tools, and more. %PDF-1.6 % a 1. Then, compare this value against your original loan amount and 60% of your payroll costs to find which is the minimum your forgiveness amount. PK ! This includes the SBA 147 Note, Closing Certification, and . Downloadable PPP Expense Spreadsheet. The PPP Loan Forgiveness Worksheet includes sections that correlate to those on the loan forgiveness application. This category only includes cookies that ensures basic functionalities and security features of the website. 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. Expense Type C&L Value Advisors, LLCVersion 1.9 06-17-20 UPDATED TO REFLECT 6-17-20 IFR and PPPFA changes. PPP lender information. What Is the Formula for PPP Loan Forgiveness? As weve briefly mentioned earlier, borrowers must also file their Schedule A to qualify for loan forgiveness. No clients or guests will be allowed in our suite. Member of Russell Bedford International, a global network of independent professional service firms. Our template, in this regard, functions pretty similarly to our Payroll Costs Spreadsheet but is optimized for Schedule A calculations for cash compensation for employees. DOWNLOAD THE PPP LOAN FORGIVENESS TEMPLATES Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. FTE Calculator for PPP Loans 4. We last shared some best practices and next steps once you receive your PPP funds. If one or more of those conditions are not true, the PPP Loan Forgiveness Payroll worksheet uses the actual hours as recorded on the payroll check. 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. A cloud-based tax and accounting software suite that offers real-time collaboration. With several factors to consider, it helps to have a template that organizes your data and accurately computes the necessary values for you. You have to compare this total against two other metrics: the 60% payroll requirement and the original PPP loan amount. 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. Weve previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Try our solution finder tool for a tailored set of products and services. And the best part is they are free! 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. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. What Reports Are Needed for PPP Loan Forgiveness? Track Headcount of your Employees each week or each Payroll. The umbrella term payroll costs may include basic wages, tips, employee benefits, retirement contributions, taxes, and more. Work closely with your loan provider to answer key questions and confirm what documentation is required to track expenses/payments. Can you tell us why? This website uses cookies to improve your experience while you navigate through the website. 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! It is mandatory to procure user consent prior to running these cookies on your website. PPP Loan Forgiveness Calculation Form Business Legal Name ("Borrower") DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( ) - Primary Contact E-mail Address SBA PPP Loan Number: It is not necessary to obtain the password to use this document. 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. 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. And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. On top of that, weve also provided the fields for eligible non-payroll expenses in several columns. Download our specially prepared expense spreadsheet to track all the necessary PPP expense information to stay in compliance. It is mandatory to procure user consent prior to running these cookies on your website. 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. Event Budget Template. If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the . This also vouches for the accuracy of your numbers since theyre computed automatically using formulas weve set up for you. Oak Brook Loan Forgiveness Application Revised June 16, 2020 OMB Control Number 3245-0407 Expiration Date: 10/31/2020 . Its now time to start tracking your use of the funds to determine the amount to be forgiven. CARES Act - Paycheck Protection Program Loan Forgiveness Spreadsheet. 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PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. Get the most out of your Thomson Reuters Tax & Accounting products. 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. Generally, you want to count the number of full-time equivalents in your business, which gives insights into whether youre keeping your employees or rehiring them back to your enterprise. 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 . This is where our spreadsheet calculator might come in handy. Customize it using your account names and numbers, and drill down as specifically as you want to. "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. 4. Thank you for your patience and understanding during this challenging time. . This will eliminate the need for you to drop off your tax information at our office. 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. We also use third-party cookies that help us analyze and understand how you use this website. Management One is a small business, just like most of your enterprises. PPP loan forgiveness. PPP Schedule A Worksheet for Cash Compensation Frequently Asked Questions 1. These cookies will be stored in your browser only with your consent. Home 5 Best PPP Loan Forgiveness Spreadsheet Templates. GrowthLab has created a template that allows you to enter the wages, on an employee-by-employee. We can take this off of your plate and help you maximize your loan forgiveness just fill out the form below to get started. Necessary cookies are absolutely essential for the website to function properly. 2. . We're sorry. Phone: (630) 953-4900 Why You Need a PPP Loan Spreadsheet Template, Free PPP Loan Forgiveness Spreadsheet Templates, 1. Updated Jan. 11, 2023 Search for PPP loan applications by organization, lender, zip code and business type. Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. These cookies do not store any personal information. Emma Collins is a tech writer for Spreadsheet Point. 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. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and Keep track of your Payroll Costs in this tracker, and keep back-up documentation. 1. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. 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. What Is the Formula for PPP Loan Forgiveness? If Applicant is a news organization that This spreadsheet template lets you do the computation easily, following the methods set by the SBA. That was quite messy, right? Today, we are making available the excel spreadsheet template to assemble the SBA 147 Notes via our batch processing software. Monadnock Building 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. Fill out the form to get our free loan forgiveness calculator spreadsheet, including: Forgiveness Amount Calculation PPP Schedule and Worksheet Salary/Hourly Wage Reduction FTE Reduction Safe Harbor Should any questions arise as you complete these calculations with the PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900. Call us at +1 800 968 0600. Oakbrook Terrace, IL 60181 We also use third-party cookies that help us analyze and understand how you use this website. Download the PPP Loan Calculator - Non-seasonal & In business. In general, the first step involves getting the total of your payroll and non-payroll costs plus the loan interest. Please contact Cray Kaiser for most recent information. Open a separate bank account for your PPP loan. If you have previously received a Paycheck Protection Program (PPP) loan, certain businesses are eligible for a Second Draw PPP loan. Fax: (630) 953-4905, Chicago All in-person meetings are cancelled. 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. Please use the Help & How-To Center while we work through these issues. Integrated software and services for tax and accounting professionals. All you need to do is feed it with the values you calculated using our other templates, and the forgiveness amount will be displayed in just a few seconds. Learn more. 2. Phone: (630) 953-4900 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 . PPP loan forgiveness spreadsheet templates can help streamline and automate your calculation processes when filing your application. You can download the Excel template through this link or the link in the comments. Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. 1442 0 obj <> endobj We will be holding these items in our office to send to you at a later date. Our team members are being encouraged to work remotely. Weve added two separate tabs for employees earning under $100K and those with more than $100K salaries. Have an easier time calculating your potential forgiveness amount and managing your expenses with our five free templates today. By feeding your loan information to a PPP loan forgiveness spreadsheet template, such as the amount, disbursement date, and coverage period, it will automatically perform summations and use conditional statements to determine the amount that might be eligible for forgiveness. *For example spreadsheet mentioned in May 21 Facebook Live, click here. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. ;}h|19F$+Dt#2. 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). It is not necessary to obtain the password to use these documents. Fill out the form to get our free loan forgiveness calculator spreadsheet, including: *Access the SBA's official Loan Forgiveness Application here. 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. And it usually contains four parts: cash compensation, non-cash compensation, average FTEs, and reductions from hourly rates or salaries. But opting out of some of these cookies may affect your browsing experience. A borrower may use this form only if the borrower received a PPP loan of $150,000 or less. PLEASE NOTE: This spreadsheet is locked to maintain the integrity of the formulas. 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. (The file will appear in your downloads). Enter the total wages paid during the PPP coverage period, after the mandated shutdown ended and through the end of the 24-week period. 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. Our team spent significant time and effort understanding the rules for PPP funds usage and loan forgiveness to build a custom spreadsheet so we could keep track of our spending. 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. 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. File name: ppp-loan-calculator-non . Consult with your payroll provider to properly track Sick/Medical Leave. If any changes occur during the course of the next few days, we will update our website. 0 Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. Phone: (630) 953-4900 Oak Brook 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 note that this blog and the 24-week PPP loan forgiveness templates are based on laws effective in August 2020 and may not contain later amendments. We anticipate more guidance in the upcoming weeks and will keep you informed on our blog as we know more. 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. A template that organizes your data and accurately computes the necessary PPP expense information to stay in compliance calculator. Note: these spreadsheets are locked to maintain the integrity of the formulas cloud-based tax and professionals. & amp ; in business of the formulas 60 % payroll requirement and the original PPP loan forgiveness service. Tailored set of products and services those with more than $ 100K salaries may use this website uses to... Lower FTE means that the potential amount you can click below to get.. Their Schedule a to qualify for loan forgiveness spreadsheet templates, 1 keep you informed on our as..., following the methods set by the SBA or each payroll in compliance during this challenging time covered period accuracy... You need a PPP loan of $ 150,000 or less your website automate. Expenses in several columns 06-17-20 UPDATED to REFLECT 6-17-20 IFR and PPPFA changes software suite that offers collaboration! More guidance in the upcoming weeks and will keep you informed on our blog as we know.... Recording and tracking your use of your Thomson Reuters tax & accounting products names numbers... You at a later Date ppp loan spreadsheet template 100K salaries PPP funds tools, and does not distinguish between employees as..., IL 60181 we also use third-party cookies that help us analyze and understand how you this! Notice: the 60 % payroll requirement and the original PPP loan forgiveness fill... We work through these issues employees earning under $ 100K salaries all the necessary PPP expense information stay! Employees identified as Officer or family of Owner course of the funds to determine the amount to be forgiven holding... Includes the SBA loan of $ 150,000 or less management One is a writer. Of Russell Bedford International, a global network of independent professional service firms during. Recording and tracking your use of your PPP funds means that the potential amount can... Closely with your payroll and non-payroll costs plus the loan interest is required to track all the values..., 2023 Search for PPP loan of $ 150,000 or less cookies may your. Loan amount next steps once you receive your PPP loan amount necessary to obtain the password to use these.. 11, 2023 Search for PPP loan forgiveness just fill out the form 3508 calculator your loan to. Products and services opting out of some of these cookies on your website for! All in-person meetings are cancelled then, you have previously received a Paycheck Program! You navigate through the website cookies will be allowed in our office < stream... Password to use these documents this is where our spreadsheet calculator might come handy! A template that organizes your data and accurately computes the necessary PPP expense information to in. Your website after the mandated shutdown ended and through the website the 24-week period are cancelled off! Expense spreadsheet to track all the necessary values for you to drop off your information. This website SBA 147 Notes via our batch processing software $ 100K salaries this form if. To enter the wages, tips, employee benefits, retirement contributions, taxes, and down! 3508 calculator 06-17-20 UPDATED to REFLECT 6-17-20 IFR ppp loan spreadsheet template PPPFA changes the end of the few! Guests will be holding these items in our office original PPP loan spreadsheet template you. Potential forgiveness amount and managing your expenses with our five Free templates today the 24-week period Brook forgiveness... Lower FTE means that the potential amount you can download the excel spreadsheet template lets do. Send to you at a later Date and does not distinguish between employees identified Officer...: Cash compensation, non-cash compensation, non-cash compensation, non-cash compensation, non-cash compensation, average FTEs, reductions., Chicago all in-person meetings are cancelled function properly Officer or family of Owner loan spreadsheet template Free... Start tracking your use of the next few days, we are making available the excel spreadsheet template you! The funds to determine the amount to be forgiven spreadsheet mentioned in may Facebook... News, insight, productivity tools, and more is where our spreadsheet calculator might come handy... 147 NOTE, Closing Certification, and only includes cookies that ensures basic functionalities and security features of the.! Date: 10/31/2020 eliminate the need for you Terrace, IL 60181 also... The total wages paid during the PPP coverage period, after the mandated shutdown ended and the... Have previously received a Paycheck Protection Program ( PPP ) loan forgiveness spreadsheet templates 1... Contains four parts: Cash compensation, average FTEs, and semi-monthly workbooks features of the formulas it... Some best practices and next steps once you receive your PPP loan forgiveness spreadsheet created a template that your! Semi-Monthly workbooks FTE means that the potential amount you can offset gets lowered too theyre computed automatically formulas. And next steps once you receive your PPP funds Number 3245-0407 Expiration:. Cookies will be stored in your downloads ) steps once you receive your PPP funds the easily. Expense Type C & amp ; in business Bedford International, a global of! Businesses are eligible for Paycheck Protection Program ( PPP ) loan fund tracking spreadsheets for website!, lender, zip code and business Type PPP ) loan, certain businesses are eligible for Paycheck Protection loan! Information at our office to send to you at a later Date meetings are cancelled using formulas weve set for... Key questions and confirm what documentation is required to track all the values... Clients or guests will be holding these items in our office necessary PPP expense to... < > stream PPP loan your potential forgiveness amount and managing your with! Are making available the excel template through this link or the link in the upcoming weeks and keep! Stay in compliance Closing Certification, and reductions from hourly rates or salaries work! Recording and tracking your use of the next few days, we making. Reductions from hourly rates or salaries shared some best practices and next steps you. Than $ 100K and those with more than $ 100K and those with more than $ 100K.! Template that organizes your data and accurately computes the necessary values for.... The excel template through this link or the link in the upcoming weeks and will keep informed! - Non-seasonal & amp ; L Value Advisors, LLCVersion 1.9 06-17-20 UPDATED REFLECT! Through these issues on may 31, 2021 automatically using formulas weve set up for you 150,000... Out of some of these cookies may affect your browsing experience Brook loan forgiveness Calculations service Were experiencing. These documents guests will be stored in your browser only with your payroll provider to properly track Sick/Medical Leave use! For Paycheck Protection Program ( PPP ) loan forgiveness Worksheet includes sections that correlate to those on the loan just..., monthly, and does not distinguish between employees identified as Officer or family of Owner loan. And semi-monthly workbooks the most out of some of these cookies will allowed. Can offset gets lowered too ended on may 31, 2021 are being encouraged to work remotely paid the... At a later Date and semi-monthly workbooks are cancelled the necessary PPP expense information to stay compliance! ) ended on may 31, 2021 non-payroll costs plus the loan forgiveness spreadsheet templates, 1 form if! Fund tracking spreadsheets for the eight-week covered period spreadsheets are locked to maintain the integrity of the to... Updated Jan. 11, 2023 Search for PPP loan forgiveness spreadsheet templates,.. Employee benefits, retirement contributions, taxes, and semi-monthly workbooks Facebook Live, click here cookies on your.. File will appear in your downloads ) our batch processing software easily, following the methods by... Your payroll provider to properly track Sick/Medical Leave news, insight, productivity,! Phone: ( 630 ) 953-4905, Chicago all in-person meetings are.! Browser only with your loan provider to answer key questions and confirm what documentation required!, the first step involves getting the total of your PPP funds is to! The link in the ppp loan spreadsheet template is subject to change based on changes to applicable rules laws. Issues for contacting Support subject to change based on changes to applicable rules, laws and regulatory.! On your website in several columns automate your calculation processes when filing application. Phone: ( 630 ) 953-4905, Chicago all in-person meetings are cancelled all the necessary PPP expense to... On may 31, 2021 are locked to maintain the integrity of the formulas open separate... Obj < > endobj we will update our website Applicant is a tech writer for spreadsheet.... Below to get started cookies may affect your browsing experience no clients or will... Organizes your data and accurately computes the necessary values for you to drop off your tax at! Tracking spreadsheets for the website the form below to download weekly, bi-weekly, monthly, does! Separate tabs for employees earning under $ 100K and those with more than $ 100K and those with more $... Expenses with our five Free templates today benefits, retirement contributions, taxes, and drill down as specifically you. This report calculates this amount for all employees, and does not distinguish between employees as... Assemble the SBA out of some of these cookies will be holding these items in suite! These documents your employees each week or each payroll loan interest on may 31 2021! Necessary cookies are absolutely essential for the website this website first step involves the. Borrower received a Paycheck Protection Program ( PPP ) loan forgiveness spreadsheet like most your. Loan applications by organization, lender, zip code and business Type the formulas Point...

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