When dealing with government funding, its always a good idea to research your specific state regulations. 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP forgiveness. 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. A borrower may use this form only if the borrower received a PPP loan of $150,000 or less. 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. 2021 - PPP Worksheet Instructional Guide. However, keeping track of your qualified expenses and calculating the total loan forgiveness can be a complex process. 5. Were currently experiencing service issues for contacting Support. 0 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. This is where our spreadsheet calculator might come in handy. 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? We ask that you email efile@craykaiser.com to request your portal access. Chat - Best option for simple questions In general, the first step involves getting the total of your payroll and non-payroll costs plus the loan interest. 53 West Jackson Street, Suite 828 4. Please contact Cray Kaiser for most recent information. 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. And most importantly, we also included a section where you can calculate your FTE exceptions. <>stream (Loans made after June 5, 2020 carry a 5-year repayment period.) 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. 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Payroll documentation might include tax filings to the IRS and receipts. 1. Track Headcount of your Employees each week or each Payroll. *For more COVID-19 resources, visitChurchCOVID19.com and SchoolCovid19.com. Oakbrook Terrace, IL 60181 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. Phone: (630) 953-4900 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. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially serve you from home. But opting out of some of these cookies may affect your browsing experience. And it usually contains four parts: cash compensation, non-cash compensation, average FTEs, and reductions from hourly rates or salaries. Oakbrook Terrace, IL 60181 *For example spreadsheet mentioned in May 21 Facebook Live, click here. . Member of Russell Bedford International, a global network of independent professional service firms. All loan terms will be the same for everyone. Calculating your FTEs is the most crucial part of maximizing your loan forgiveness amount. Step 3. Downloadable PPP Expense Spreadsheet. Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. If any changes occur during the course of the next few days, we will update our website. 1442 0 obj <> endobj 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. 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. It is mandatory to procure user consent prior to running these cookies on your website. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. Fax: (630) 953-4905, Chicago Non-payroll costs that are eligible for forgiveness include but are not limited to mortgage interest, rent, and utilities. Integrated software and services for tax and accounting professionals. 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.. 6. A cloud-based tax and accounting software suite that offers real-time collaboration. Have you ever heard of a PPP loan forgiveness spreadsheet template? Phone: (630) 953-4900 Thank you for your patience and understanding during this challenging time. 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. 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. We also included an alternative way to get the FTE value that you can discover in our template. 1489 0 obj <>stream Udemy has a lot of Google Sheets masterclasses,too, in case you want to grow your skills in using the app. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. Kevin A. Cameron, CPA Phone 813-286-7373 Paycheck Protection Loan Forgiveness Expense Tracker If Applicant is a news organization that . This website uses cookies to improve your experience while you navigate through the website. They also ensure that your numbers are accurate and organized. Fill out the form found here to access to the 2021 PPP Loan Worksheet, designed to provide data-driven insights to drive critical decisions. Have an easier time calculating your potential forgiveness amount and managing your expenses with our five free templates today. What Reports Are Needed for PPP Loan Forgiveness? Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. This category only includes cookies that ensures basic functionalities and security features of the website. Member of Russell Bedford International, a global network of independent professional service firms. The SBA recently released the PPP loan forgiveness application. $69 - $79 This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. You have to compare this total against two other metrics: the 60% payroll requirement and the original PPP loan amount. Please use the Help & How-To Center while we work through these issues. It is not necessary to obtain the password to use this document. (See 5-18-20 for updated post.) We will no longer have in-person drop offs of accounting/tax data. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. PPP lender information. Please read the instructions in the worksheet which indicate how to use the resources as intended.These calculators are based on interpretations of available guidance from the Small Business Administration (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. April 20 2020. The Salaried amount pay item has an amount associated with it on the payroll check. To make things easier, weve compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use. htR;HA}{AS({? uFALaIyP$\.&bBtw7f, k#C"# 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. Since youre tracking your finances in a spreadsheet, it will be easy for you to retrieve the necessary data that you have to present. All in-person meetings are cancelled. Weve added two separate tabs for employees earning under $100K and those with more than $100K salaries. Now, we have created templates for the 24-week covered period. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. Necessary cookies are absolutely essential for the website to function properly. The umbrella term payroll costs may include basic wages, tips, employee benefits, retirement contributions, taxes, and more. 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. These cookies do not store any personal information. 1901 S. Meyers Road, Suite 230 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 For example, the amount of forgiveness can be reduced proportionally if you dont meet the 60/40 rule (payroll/non-payroll) in funds distribution. endobj The Salaried amount pay item has 0 regular hours recorded on the payroll check. hbbd```b``"H M,n &M`?d" +` 5Drd!Da 5@&FVC8#]K } Customize it using your account names and numbers, and drill down as specifically as you want to. These cookies do not store any personal information. 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. We've previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. 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. We can take this off of your plate and help you maximize your loan forgiveness just fill out the form below to get started. With several factors to consider, it helps to have a template that organizes your data and accurately computes the necessary values for you. Enter the borrower's total FTE (a) for a PPP loan made before December 27, 2020, as of December 31, 2020 or (b) for a PPP loan made after December 27, 2020, the last day of the covered period: . PLEASE NOTE: This spreadsheet is locked to maintain the integrity of the formulas. 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. 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! All paper files, tax returns etc. Another eligibility requirement for loan forgiveness is that the borrower should use only up to 40% of the total loan amount on non-payroll costs. 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. During times of recession, and more recently, due to the pandemic, small businesses were assisted with PPP loans to support their enterprises and employees. The PPP Loan Forgiveness Worksheet includes sections that correlate to those on the loan forgiveness application. This website uses cookies to improve your experience while you navigate through the website. (What are standard hours?). Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. Keep track of Other Expenses. Payroll Cost Calculator for PPP Loan Forgiveness, 5. Comprehensive research, news, insight, productivity tools, and more. Download the PPP Loan Calculator - Non-seasonal & In business. PPP loan forgiveness. As weve briefly mentioned earlier, borrowers must also file their Schedule A to qualify for loan forgiveness. 2. When you purchase through links on our site, we may earn an affiliate commission. You can download the Excel template through this link or the link in the comments. You can provide this report to your clients to help them fill out the Form 3508 and Form 3508EZSmall Business Administration (SBA) loan forgiveness applications. We will continue to support you as best as we can while keeping each others health a priority. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. JPMorgan Chase Bank, N.A. Loan Forgiveness Application Revised June 16, 2020 OMB Control Number 3245-0407 Expiration Date: 10/31/2020 . 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. Step 4. 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 PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Free PPP Loan Forgiveness Spreadsheet Templates 1. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. *For spreadsheet instructions, click here. Non-Payroll Expenses Tracker 3. Consult with your payroll provider to properly track Sick/Medical Leave. PPP Schedule A Worksheet for Cash Compensation Frequently Asked Questions 1. GrowthLab has created a template that allows you to enter the wages, on an employee-by-employee. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. PPP Loan Forgiveness Calculations Service 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! 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. 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. 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 To aid you in this process, weve prepared a few Excel workbooks which you can download by clicking the link below. "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. Our template allows you to allocate your funds more precisely into several weeks (depending on your coverage period). Werner & Co. can help you maintain best practices and proper bookkeeping for the Paycheck Protection Program. Those are the reasons why you needed these funds! %%EOF 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. Please note that this blog is based on laws effective on May 2, 2020 and may not contain later amendments. This category only includes cookies that ensures basic functionalities and security features of the website. d11ma.,-+(*,6aFof:;?7gzWsc{]V-L[Z|l. We anticipate more guidance in the upcoming weeks and will keep you informed on our blog as we know more. These contain rows and columns that are loaded with various categories and formulas related to the complicated calculation process. You also have the option to opt-out of these cookies. 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. PPP Schedule A Worksheet for Cash Compensation. 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. Connect with other professionals in a trusted, secure, environment open to Thomson Reuters customers only. 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. 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. Learn more. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. Expense Type C&L Value Advisors, LLCVersion 1.9 06-17-20 UPDATED TO REFLECT 6-17-20 IFR and PPPFA changes. Why You Need a PPP Loan Spreadsheet Template, Free PPP Loan Forgiveness Spreadsheet Templates, 1. We've created a free spreadsheet to help you walk through the application process. What Is a PPP Loan Forgiveness Spreadsheet? Corporate technology solutions for global tax compliance and decision making. Then, compare this value against your original loan amount and 60% of your payroll costs to find which is the minimum your forgiveness amount. 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. Updated Jan. 11, 2023 Search for PPP loan applications by organization, lender, zip code and business type. Learn more. 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. PK ! employee retention credit calculation spreadsheet. And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. The loan provides for an "8-week loan use period", so we have included a "Week 9" to address receipt of loans mid-week. We wish you, your family, and your business health and safety. That was quite messy, right? 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. From the calculation of your employees wages to their full-time equivalency metrics, here are five spreadsheets that you can access for free. . Download Excel | Try Smartsheet. 1. For entities with loan funds in excess of $2,000,000, it may be necessary to substantiate this documentation with projections and financial amounts in the event of an audit. If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the . 1. For more details about the Paycheck Protection Program, as specified in the CARES Act, see the PPP Borrower Information Fact Sheet(from home.treasury.gov). After preparing your total payroll costs, non-payroll expenses, and FTE calculations, you can now start calculating your PPP loan forgiveness amount. including analysis of cash flow . To get the information required on the application, you may need to run this report multiple times using various date ranges,all of which are specified in the SBA application instructions. Instead, please drop off any packages outside the office door of our suite in the box provided. Identify resource costs and plan an amount to budget for each area to keep your event on track and within budget. hb```f``z l, ~``X8AmWpe[$ 4uT EE$et5Ue11XXY G%F''&Y9;:{D9yyExu21eef These cookies will be stored in your browser only with your consent. 53 West Jackson Street, Suite 828 To put it simply, it divides the average weekly hours of your employee by 40, rounds it to the nearest tenth, and ensures that it doesnt exceed one. 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 Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. Work closely with your loan provider to answer key questions and confirm what documentation is required to track expenses/payments. Event Budget Template. Today, we are making available the excel spreadsheet template to assemble the SBA 147 Notes via our batch processing software. Monadnock Building

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