Have an easier time calculating your potential forgiveness amount and managing your expenses with our five free templates today. 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. Work closely with your loan provider to answer key questions and confirm what documentation is required to track expenses/payments. 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. $69 - $79 This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. 0 The American Institute of CPAs (AICPA) has created a loan forgiveness calculator (excel spreadsheet download) for the Paycheck Protection Program (PPP) to help resolve outstanding issues with the process.. Comprehensive research, news, insight, productivity tools, and more. *For more COVID-19 resources, visitChurchCOVID19.com and SchoolCovid19.com. We also use third-party cookies that help us analyze and understand how you use this website. This category only includes cookies that ensures basic functionalities and security features of the website. hb```f``z l, ~``X8AmWpe[$ 4uT EE$et5Ue11XXY G%F''&Y9;:{D9yyExu21eef 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. 4. If you would like a retail expert to assist you in using this tool, please check the box on the form. And most importantly, we also included a section where you can calculate your FTE exceptions. It is mandatory to procure user consent prior to running these cookies on your website. To make things easier, weve compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use. Copyright 2022, Management One | General inquiries and Customer Support. Download the PPP Loan Calculator Non-seasonal & In business, File name: ppp-loan-calculator-non-seasonal-operational-in-2019.xlsx, Download the PPP Loan Calculator Nonseasonal & NOT in business, File name: ppp-loan-calculator-non-seasonal-non-operational-in-2019.xlsx, Download the PPP Loan Calculator Seasonal business, File name: ppp-loan-calculator-seasonal-employers.xlsx, Download the PPP Loan Calculator Self-employed, File name: ppp-loan-calculator-self-employed.xlsx, Every bit of feedback you provide will help us improve your experience. Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. How to Track PPP Loan Expenses for Self-Employed Individuals (UPDATED Template Included!) What Is a PPP Loan Forgiveness Spreadsheet? CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. But opting out of some of these cookies may affect your browsing experience. 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: Member FDIC. Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. 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. Emma Collins is a tech writer for Spreadsheet Point. This website uses cookies to improve your experience while you navigate through the 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. Download the PPP Loan Calculator - Non-seasonal & In business. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. That was quite messy, right? However, keeping track of your qualified expenses and calculating the total loan forgiveness can be a complex process. 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. Should any questions arise as you complete these calculations with the PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900. Download Excel | Try Smartsheet. 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. 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. You also have the option to opt-out of these cookies. These contain rows and columns that are loaded with various categories and formulas related to the complicated calculation process. 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. Non-Payroll Expenses Tracker 3. Try our solution finder tool for a tailored set of products and services. . 5. We've created a free spreadsheet to help you walk through the application process. 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. 1489 0 obj <>stream Existing borrowers may be eligible for PPP loan forgiveness. . Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. 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. 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 Our team members are being encouraged to work remotely. Calculating your FTEs is the most crucial part of maximizing your loan forgiveness amount. Fill out the form below to download the new worksheet. 1. 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. 1442 0 obj <> endobj 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 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. Track Headcount of your Employees each week or each Payroll. 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. 3,191 views May 19, 2020 https://tinyurl.com/y9lx9c76 - In this how to track PPP loan expenses. <>stream 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 required documents consist of payroll reports, health insurance statements, and more. employee retention credit calculation spreadsheet. It is not necessary to obtain the password to use these documents. Learn more. Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. 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. 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 a section doesn't apply to an employer, it won't display in the report. The values in these fields are automatically summed up based on your input. will no longer be mailed by our office to you. (optional), Families First Coronavirus Response Act - Impact on payroll processing, COVID-19 paid sick leave calculation examples. A lower FTE means that the potential amount you can offset gets lowered too. This includes the SBA 147 Note, Closing Certification, and . It is not necessary to obtain the password to use this document. Have you ever heard of a PPP loan forgiveness spreadsheet template? Necessary cookies are absolutely essential for the website to function properly. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. Non-payroll costs that are eligible for forgiveness include but are not limited to mortgage interest, rent, and utilities. 0 "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. Oakbrook Terrace, IL 60181 The SBA recently released the PPP loan forgiveness application. 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 read the instructions in the worksheet which indicate how to use the resources as intended. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. This website uses cookies to improve your experience while you navigate through the website. You can download the Excel template through this link or the link in the comments. 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. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Please use the Help & How-To Center while we work through these issues. Member of Russell Bedford International, a global network of independent professional service firms. Email - Expect a 24-48 hour turnaround Remember those sleepless nights before receiving the funding? hbbd```b``"H M,n &M`?d" +` 5Drd!Da 5@&FVC8#]K } This will eliminate the need for you to drop off your tax information at our office. The Salaried amount pay item has an amount associated with it on the payroll check. 53 West Jackson Street, Suite 828 Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. 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. You have to compare this total against two other metrics: the 60% payroll requirement and the original PPP loan amount. 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. Loan provider to answer key questions and confirm what documentation is required to track PPP expenses... Templateshere and get 50 % off all templates with the PPP loan.! For download and use processing, COVID-19 paid sick leave calculation examples ) on... 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