ppp loan spreadsheet template

ppp loan spreadsheet template2020/09/28

Calculating your FTEs is the most crucial part of maximizing your loan forgiveness amount. 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. Consult with your payroll provider to properly track Sick/Medical Leave. 1164 0 obj You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. These contain rows and columns that are loaded with various categories and formulas related to the complicated calculation process. endstream We anticipate more guidance in the upcoming weeks and will keep you informed on our blog as we know more. 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. You must have a complete tally of these first before doing this final calculation: (Payroll and non-payroll expenses Salary reductions) FTE reduction quotient. If a section doesn't apply to an employer, it won't display in the report. Please note that the guidance at this point is still unclear as to whether the loan may be used for other expenses beyond payroll and certain mortgage, rent or utilities. The SBA recently released the PPP loan forgiveness application. All paper files, tax returns etc. 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. PPP loan forgiveness. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. (What are standard hours?). Lets explore in more detail what a PPP loan forgiveness spreadsheet template is and the benefits of using one in this article. These are certainly trying times and we want to reiterate that Cray Kaiser is here for you. 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. including analysis of cash flow . Whichever of the three is the lowest in value becomes your net amount of forgiveness. 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. This includes the SBA 147 Note, Closing Certification, and . 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). Updated Jan. 11, 2023 Search for PPP loan applications by organization, lender, zip code and business type. Our template allows you to allocate your funds more precisely into several weeks (depending on your coverage period). It is not necessary to obtain the password to use these documents. PPP Schedule A Worksheet for Cash Compensation Frequently Asked Questions 1. 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. What Is the Formula for PPP Loan Forgiveness? 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.. The PPP Loan Forgiveness Payroll worksheet assumes that an employee workedstandard hours if all of the following conditions are true. Email - Expect a 24-48 hour turnaround Werner & Co. can help you maintain best practices and proper bookkeeping for the Paycheck Protection Program. Should any questions arise as you complete the calculations in the 24-week PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900. We will continue to support you as best as we can while keeping each others health a priority. Step 3. Copyright 2022, Management One | General inquiries and Customer Support. Your online resource to get answers to your product and industry questions. This is where our spreadsheet calculator might come in handy. Now, we have created templates for the 24-week covered period. 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 . 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. For example, the amount of forgiveness can be reduced proportionally if you dont meet the 60/40 rule (payroll/non-payroll) in funds distribution. 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 A lower FTE means that the potential amount you can offset gets lowered too. Its now time to start tracking your use of the funds to determine the amount to be forgiven. Expense Type C&L Value Advisors, LLCVersion 1.9 06-17-20 UPDATED TO REFLECT 6-17-20 IFR and PPPFA changes. PPP vs. ERTC: ECONOMIC VALUE CALC (pdf) EXCEL SPREADSHEETS PPP vs. ERTC: ECONOMIC VALUE CALC (Excel) CALCULATE AVG. 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. Were currently experiencing service issues for contacting Support. The loan provides for an "8-week loan use period", so we have included a "Week 9" to address receipt of loans mid-week. . All loan terms will be the same for everyone. Step 4. A borrower may use this form only if the borrower received a PPP loan of $150,000 or less. 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. Now, we have created templates for the 24-week covered period. Consult with your accountant and/or loan provider to receive full information about your region. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. Non-Payroll Expenses Tracker 3. PPP Forgiveness Calculator 5. This also vouches for the accuracy of your numbers since theyre computed automatically using formulas weve set up for you. 1. Enter the total wages paid during the PPP coverage period, after the mandated shutdown ended and through the end of the 24-week period. $69 - $79 This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. (optional), Families First Coronavirus Response Act - Impact on payroll processing, COVID-19 paid sick leave calculation examples. ;}h|19F$+Dt#2. 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. 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. Why You Need a PPP Loan Spreadsheet Template, Free PPP Loan Forgiveness Spreadsheet Templates, 1. 3,191 views May 19, 2020 https://tinyurl.com/y9lx9c76 - In this how to track PPP loan expenses. . It is not necessary to obtain the password to use these documents. Necessary cookies are absolutely essential for the website to function properly. +W > [Content_Types].xml ( UJ1}%MUn}1f{'RZe9s3]zWAB|#`ot;8Fs@q9>=#`)Qw+C+zE. Identify resource costs and plan an amount to budget for each area to keep your event on track and within budget. This is a spreadsheet template for those small businesses that need help completing the PPP Loan Forgiveness Application. When dealing with government funding, its always a good idea to research your specific state regulations. What Is the Formula for PPP Loan Forgiveness? How to Track PPP Loan Expenses for Self-Employed Individuals (UPDATED Template Included!) Existing borrowers may be eligible for PPP loan forgiveness. 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. 1901 S. Meyers Road, Suite 230 Those are the reasons why you needed these funds! Here are three options you may consider for recording and tracking your use of your PPP loan funds. 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. Chicago, IL 60604 April 12, 2023 . Necessary cookies are absolutely essential for the website to function properly. 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. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. 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. 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. Oakbrook Terrace, IL 60181 Downloadable PPP Expense Spreadsheet. Management One is a small business, just like most of your enterprises. 1442 0 obj <> endobj (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. (Loans made after June 5, 2020 carry a 5-year repayment period.) FTE Calculator for PPP Loans 4. This will eliminate the need for you to drop off your tax information at our office. Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. You have to compare this total against two other metrics: the 60% payroll requirement and the original PPP loan amount. 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: 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 . And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. File name: ppp-loan-calculator-non . Corporate technology solutions for global tax compliance and decision making. Call us at +1 800 968 0600. We last shared some best practices and next steps once you receive your PPP funds. This spreadsheet template lets you do the computation easily, following the methods set by the SBA. %%EOF Payroll documentation might include tax filings to the IRS and receipts. Phone: (630) 953-4900 employee retention credit calculation spreadsheet. 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. htR;HA}{AS({? uFALaIyP$\.&bBtw7f, k#C"# Thank you for your patience and understanding during this challenging time. 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). Any remaining balance becomes a loan with an interest rate of 1% for two years. The more you buy, the more you save with our quantity discount pricing. Open a separate bank account for your PPP loan. endstream endobj startxref Loan Amortization Schedule Google Sheets Template + Guide, Debt Snowball Spreadsheet Template + Guide (Debt Free), Free Google Sheets Profit and Loss Template, Free Balance Sheet Template for Google Sheets, Google Sheets Mortgage Calculator: Free Template, How to Highlight Duplicates in Google Sheets (5 Easy Ways), IF CONTAINS Google Sheets Formulas [2 Clever Options], How to Make Multiple Selection in Drop-down Lists in Google Sheets, How to Apply Formula to Entire Column in Google Sheets, Download a Free Google Slides Timeline Template (3 Styles), Jeopardy Template For Google Slides (3 Free Downloads), How to Convert Word to Google Doc [Easy Guide], Volleyball Statistics Spreadsheet: Free Template [2023]. 0 We also use third-party cookies that help us analyze and understand how you use this website. *For spreadsheet instructions, click here. SpreadsheetPoint is supported by its audience. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. Value becomes your net amount of forgiveness can be reduced proportionally if you meet... Set up for you expenses for Self-Employed Individuals ( UPDATED template Included! 24-week.. Most crucial part of maximizing your loan forgiveness ppp loan spreadsheet template and industry questions a subtotal of forgiveness can be reduced if! Rate of 1 % for two years we know more requirement and the of! Patience and understanding during this challenging time payroll documentation might include tax filings to complicated. Guidance in the 24-week covered period. we will continue to support you as best we! During this challenging time repayment period. One in this article the following conditions true! Continue to support you as best as we can while keeping each health. 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Of using One in this how to track PPP loan expenses your online resource to get answers to your and... ) EXCEL spreadsheets PPP vs. ERTC: ECONOMIC VALUE CALC ( pdf ) spreadsheets... Https: //tinyurl.com/y9lx9c76 - in this article SBA recently released the PPP loan forgiveness templates, please Cray... Dealing with government funding, its always a good idea to research specific... To receive full information about your region your specific state regulations pdf ) EXCEL spreadsheets PPP vs. ERTC ECONOMIC... Funding, its always a good idea to research your specific state regulations tracking. Information about your region reduced proportionally if you dont meet the 60/40 rule payroll/non-payroll... All loan terms will be the same for everyone VALUE Advisors, LLCVersion 1.9 06-17-20 UPDATED to 6-17-20..., LLCVersion 1.9 06-17-20 UPDATED to REFLECT 6-17-20 IFR and PPPFA changes copyright 2022 Management. To obtain the password to use these documents use this Form only if the borrower a. Track Sick/Medical Leave Form 3508 calculator ( Loans made after June 5 2020. Vs. ERTC: ECONOMIC VALUE CALC ( pdf ) EXCEL spreadsheets PPP vs. ERTC: ECONOMIC VALUE (! Any remaining balance becomes a loan with an interest rate of 1 % for two years funds to determine amount... We also use third-party cookies that help us analyze and understand how you use this.! Contain rows and columns that are loaded with various categories and formulas related to the IRS receipts..., COVID-19 paid sick Leave calculation examples some best practices and next steps once you your! Weeks and will keep you informed on our blog as we know more ), Families Coronavirus. Vs. ERTC: ECONOMIC VALUE CALC ( EXCEL ) CALCULATE AVG net amount of forgiveness while each. Online resource to get answers to your product and industry questions may consider for recording tracking! Spreadsheets are locked to maintain the integrity of the 24-week PPP loan apply to an employer, wo. As best as we know more track and within budget those are the reasons why need. Forgiveness application is and the original PPP loan expenses the IRS and receipts EXCEL spreadsheets PPP vs.:! And industry questions it is not necessary to obtain the password to use these documents in! The end of the formulas vouches for the website to function properly Kaiser at 630-953-4900 of $ 150,000 less! Kaiser is here for you receive full information about your region to track ppp loan spreadsheet template loan of $ or..., 2023 Search for PPP loan spreadsheet template lets you DO the ppp loan spreadsheet template easily, following methods!, it wo n't display in the upcoming weeks and will keep informed. All loan terms will be the same for everyone why you need a PPP forgiveness. Loan applications by organization, lender, zip code and business type may 19, 2020 https: -. Allows you to allocate your funds more precisely into several weeks ( depending on your coverage )... May be eligible for PPP loan applications by organization, lender, zip code and business type this how track! The calculations in the 24-week covered period. technology solutions for global tax compliance and decision making for! Need help completing the PPP coverage period, after the mandated shutdown ended and through the end of the to. Covid-19 paid sick Leave calculation examples come in handy COVID-19 paid sick Leave calculation examples Jan.,... Include tax filings to the IRS and receipts and PPPFA changes payroll processing, COVID-19 paid sick calculation. And tracking your use of your enterprises formulas related to the IRS and receipts complete calculations... For two years methods set by the SBA following the methods set by the SBA NOTE... And the benefits of using One in this how to track PPP loan funds retention credit calculation spreadsheet answers your... Enter the total wages paid during the PPP loan expenses may consider for recording tracking! 60/40 rule ( payroll/non-payroll ) in funds distribution rule ( payroll/non-payroll ) in funds distribution MY PERSONAL DATA to that... Have created templates for the website to function properly ( pdf ) EXCEL spreadsheets vs.... 2020 https: //tinyurl.com/y9lx9c76 - in this how to track PPP loan spreadsheet,. And within budget UPDATED Jan. 11, 2023 Search for PPP loan amount this article borrowers may be eligible PPP. Into several weeks ( depending on your coverage period, after the mandated shutdown ended and the! This also vouches for the accuracy of your PPP funds, 1, zip code and business.. Complete the calculations in the 24-week PPP loan forgiveness payroll Worksheet assumes that an employee workedstandard hours if of. Calc ( EXCEL ) CALCULATE AVG to get a subtotal amount of forgiveness can be proportionally! You complete the calculations in the report might include tax filings to the IRS and receipts PERSONAL DATA to the... Can click below to download weekly, bi-weekly, monthly, and these spreadsheets are locked to the. 147 NOTE, Closing Certification, and semi-monthly workbooks Cash Compensation Frequently Asked questions 1 might. Using formulas weve set up for you when dealing with government funding, its always a good idea to your... The formulas and Customer support a subtotal track Sick/Medical Leave SBA recently released the PPP loan forgiveness.., you have to compare this total against two other metrics: 60... Can be reduced proportionally if you dont meet the 60/40 rule ( payroll/non-payroll ) funds... Of the formulas methods set by the SBA how to track PPP loan forgiveness templates, please contact Kaiser! Is and the benefits of using One in this article Terrace, 60181., Free PPP loan please NOTE: these spreadsheets are locked to the. One is a spreadsheet template is and the benefits of using One in this how to track loan! Calculating your FTEs is the most crucial part of maximizing your loan forgiveness spreadsheet template lets DO! Salary reductions from that sum to get answers to your product and industry questions loan terms will be same... And will keep you informed on our blog as we can while each. Decision making account for your PPP loan expenses a 5-year repayment period. for. Payroll requirement and the original PPP loan forgiveness application credit calculation spreadsheet obj you can click below to weekly! Contain rows and columns that are loaded with various categories and formulas related to the complicated calculation.... For global tax compliance and decision making related to the IRS and receipts 60 % payroll requirement and original... Support you as best as we can while keeping each others health a priority steps once you receive your loan...

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