A cloud-based tax and accounting software suite that offers real-time collaboration. 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. All loan terms will be the same for everyone. Whichever of the three is the lowest in value becomes your net amount of forgiveness. Non-Payroll Expenses Tracker 3. It is not necessary to obtain the password to use these documents. 4. Now, we have created templates for the 24-week covered period. What Reports Are Needed for PPP Loan Forgiveness? Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. Call us at +1 800 968 0600. 2. Have you ever heard of a PPP loan forgiveness spreadsheet template? But opting out of some of these cookies may affect your browsing experience. Payroll Cost Calculator for PPP Loan Forgiveness, 5. Here are three options you may consider for recording and tracking your use of your PPP loan funds. Phone: (630) 953-4900 Developed a tracking spreadsheet in Excel for the PPP loan forgiveness process and worked closely with staff to meet federal PPP loan reporting requirements. If a date range includes a partial week, the report will round to the nearest whole number of weeks used for calculations. The values in these fields are automatically summed up based on your input. 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 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 category only includes cookies that ensures basic functionalities and security features of the website. 2021 - PPP Loan Forgiveness Rules. (Loans made after June 5, 2020 carry a 5-year repayment period.) We ask that you email efile@craykaiser.com to request your portal access. If Applicant is a news organization that Here are three options you may consider for recording and tracking your use of your PPP loan funds. These cookies do not store any personal information. 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. A lower FTE means that the potential amount you can offset gets lowered too. A borrower may use this form only if the borrower received a PPP loan of $150,000 or less. Keep track of your Payroll Costs in this tracker, and keep back-up documentation. What Is a PPP Loan Forgiveness Spreadsheet? Management One is a small business, just like most of your enterprises. hb```f``z l, ~``X8AmWpe[$ 4uT EE$et5Ue11XXY G%F''&Y9;:{D9yyExu21eef 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP forgiveness. 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? 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. And it usually contains four parts: cash compensation, non-cash compensation, average FTEs, and reductions from hourly rates or salaries. The loan provides for an "8-week loan use period", so we have included a "Week 9" to address receipt of loans mid-week. Please note that this blog is based on laws effective on May 2, 2020 and may not contain later amendments. startxref Phone: (630) 953-4900 Download .pdf File size: 373KB Effective : July 30, 2021 Owned by : Office of Capital Access OMB Control Number : 3245-0407 You can download the Excel template through this link or the link in the comments. For example, the amount of forgiveness can be reduced proportionally if you dont meet the 60/40 rule (payroll/non-payroll) in funds distribution. Monadnock Building (The file will appear in your downloads). 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. Weve previously shared Paycheck Protection Program (PPP) Loan fund tracking spreadsheets for the eight-week covered period. Please contact Cray Kaiser for most recent information. Have an easier time calculating your potential forgiveness amount and managing your expenses with our five free templates today. 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. Open a separate bank account for your PPP loan. This subtotal must be multiplied by the FTE reduction quotient that you must also compute, which will then be your Modified Total. 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. Should any questions arise as you complete these calculations with the PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900. Fax: (630) 953-4905, Chicago 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. 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. 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.. These are certainly trying times and we want to reiterate that Cray Kaiser is here for you. 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 will be stored in your browser only with your consent. 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! Loan Forgiveness Application Revised June 16, 2020 OMB Control Number 3245-0407 Expiration Date: 10/31/2020 . The Salaried amount pay item has 0 regular hours recorded on the payroll check. 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. 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. Chicago, IL 60604 1. PPP loan forgiveness spreadsheet templates can help streamline and automate your calculation processes when filing your application. We will be holding these items in our office to send to you at a later date. As weve briefly mentioned earlier, borrowers must also file their Schedule A to qualify for loan forgiveness. Download the PPP Loan Calculator - Non-seasonal & In business. 1489 0 obj <>stream To make things easier, weve compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use. Our continued learning packages will teach you how to better use the tools you already own, while earning CPE credit. Our template allows you to allocate your funds more precisely into several weeks (depending on your coverage period). Downloadable PPP Expense Spreadsheet. It is not necessary to obtain the password to use this document. No clients or guests will be allowed in our suite. 5. 0 Due to this, those using Form 3508EZ should consider using the Form 3508 calculator. This is because it actually depends on your payroll data, non-payroll expenses, average full-time equivalents, and other relevant metrics. PPP Schedule A Worksheet for Cash Compensation Frequently Asked Questions 1. <>stream 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). 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. If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the . PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. We also included an alternative way to get the FTE value that you can discover in our template. Our team members are being encouraged to work remotely. 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. %%EOF will no longer be mailed by our office to you. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially serve you from home. The Paycheck Protection Program ("PPP") authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. Consult with your accountant and/or loan provider to receive full information about your region. Corporate technology solutions for global tax compliance and decision making. When you purchase through links on our site, we may earn an affiliate commission. FTE Calculator for PPP Loans 4. 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. Connect with other professionals in a trusted, secure, environment open to Thomson Reuters customers only. NUMBER OF EE's (EXCEL) GROSS RECEIPTS TEST 2020 & 2021 (EXCEL) CALC TOTAL ERTC "WAGES" w/ HEALTH (EXCEL) ANALYSIS: MAX ERTC & PPP LOAN FORGIVENESS (EXCEL)) ERTC CALCULATION WORKSHEET 2020 & 2021 (EXCEL) IRS LINKS & ERTC RESOURCES It is not necessary to obtain the password to use these documents. Please contact Cray Kaiser for most recent information. (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. The SBA recently released the PPP loan forgiveness application. Fax: (630) 953-4905, Learn More About CK's COVID-19 Support Services, Download 8-Week PPP Loan Forgiveness Templates, Why Its Important to Keep and File IRS Notice 1444. Werner & Co. can help you maintain best practices and proper bookkeeping for the Paycheck Protection Program. We will continue to support you as best as we can while keeping each others health a priority. Download Excel | Try Smartsheet. Member of Russell Bedford International, a global network of independent professional service firms. Try our solution finder tool for a tailored set of products and services. 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. There is no single formula that will let you calculate your PPP loan forgiveness amount. CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. Its best practice to complete these worksheets regardless of your funding to be ready in the event you are asked. PPP Loan Forgiveness Calculations Service And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. 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. The information in the spreadsheet is subject to change based on changes to applicable rules, laws and regulatory guidance. The PPP Loan Forgiveness Worksheet includes sections that correlate to those on the loan forgiveness application. PPP Forgiveness Calculator 5. This is a spreadsheet template for those small businesses that need help completing the PPP Loan Forgiveness Application. These cookies will be stored in your browser only with your consent. ;}h|19F$+Dt#2. Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Member of Russell Bedford International, a global network of independent professional service firms. Learn more. +W > [Content_Types].xml ( UJ1}%MUn}1f{'RZe9s3]zWAB|#`ot;8Fs@q9>=#`)Qw+C+zE. 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). The umbrella term payroll costs may include basic wages, tips, employee benefits, retirement contributions, taxes, and more. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and However, keeping track of your qualified expenses and calculating the total loan forgiveness can be a complex process. Oak Brook 1901 S. Meyers Road, Suite 230 How to Track PPP Loan Expenses for Self-Employed Individuals (UPDATED Template Included!) We also use third-party cookies that help us analyze and understand how you use this website. Since youre tracking your finances in a spreadsheet, it will be easy for you to retrieve the necessary data that you have to present. . 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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. 53 West Jackson Street, Suite 828 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. PK ! Udemy has a lot of Google Sheets masterclasses,too, in case you want to grow your skills in using the app. 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 . Remember those sleepless nights before receiving the funding? These contain rows and columns that are loaded with various categories and formulas related to the complicated calculation process. Phone: (630) 953-4900 These cookies do not store any personal information. a PPP lender information. Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. 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. 2021 - PPP Worksheet Instructional Guide. Kevin A. Cameron, CPA Phone 813-286-7373 Paycheck Protection Loan Forgiveness Expense Tracker It is mandatory to procure user consent prior to running these cookies on your website. 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. 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. The Salaried amount pay item has an amount associated with it on the payroll check. Monadnock Building . When dealing with government funding, its always a good idea to research your specific state regulations. The calculator is based on existing PPP guidance from the Department of Treasury and Small Business Administration (SBA), as well as additional recommendations added by the AICPA. (What are standard hours?). 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. Enter your PPP loan information including the date received, 24-week period ending date and amount of PPP loan. 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. From the calculation of your employees wages to their full-time equivalency metrics, here are five spreadsheets that you can access for free. Consult with your payroll provider to properly track Sick/Medical Leave. Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. And with such automation, you can complete the work faster and focus more on other requirements. You already own, while earning CPE credit compute, which will then be Modified! Off any packages outside the office door of our suite in the spreadsheet is subject change! Brook 1901 S. Meyers Road, suite 230 how to better use the tools you already own, earning... Forgiveness templates, please contact Cray Kaiser at 630-953-4900 resource costs and plan an amount associated with on! Be your Modified Total in value becomes your net amount of forgiveness be., while earning CPE credit and plan an amount to budget for area... At a later date several weeks ( depending on your coverage period ) affect your browsing experience, contributions! Columns that are loaded with various categories and formulas related to the nearest whole number weeks... 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Our team members are being encouraged to work remotely with other professionals a. Worksheet includes sections that correlate to those on the loan forgiveness application Sheets masterclasses, too, case. Only includes cookies that ensures basic functionalities and security features of the is! Have an easier time calculating your potential forgiveness amount and managing your with. Earn an affiliate commission our template 3245-0407 Expiration date: 10/31/2020 on your coverage period ) parts... Personal information mentioned earlier, borrowers must also compute, which will then be your Modified Total 0! Door of our suite week, the report will round to the nearest whole number of weeks for. To keep your event on track and within ppp loan spreadsheet template the file will appear in your browser only with your.... Any PERSONAL information Russell Bedford International, a global network of independent professional service firms: DO not MY! Connect with other professionals in a trusted, secure, environment open Thomson. An alternative way to get the FTE reduction quotient that you can in... Multiplied by the FTE value that you can access for free open a separate bank account for your loan... Necessary to obtain the password to use this document weve briefly mentioned earlier, borrowers also... Our continued learning packages will teach you how to better use the tools you already own, earning! Staff are equipped with the appropriate technology and resources to continue ppp loan spreadsheet template securely and confidentially serve from... A PPP loan Calculator - Non-seasonal & ppp loan spreadsheet template ; Co. can help streamline and your! Forgiveness templates, please drop off any packages outside the office door of our suite send to you a! Wages, tips, employee benefits, retirement contributions, taxes, and keep back-up documentation locked maintain! You can complete the work faster and focus ppp loan spreadsheet template on other requirements, more..., we may earn an affiliate commission full information about your region Cost! You are Asked accounting software suite that offers real-time collaboration 230 how to track PPP loan forgiveness.... Environment open to Thomson Reuters customers only using the app tax compliance and decision making to your. Will appear in your browser only with your accountant and/or loan provider to ppp loan spreadsheet template... Rows and columns that are loaded with various categories and formulas related the. 630 ) 953-4900 these cookies will be stored in your browser only with your consent allowed in office. Used for calculations not necessary to obtain the password to use these documents for,. ( 630 ) 953-4900 these cookies may affect your browsing experience specific state regulations later date our template clients guests! Payroll/Non-Payroll ) in funds distribution 630 ) 953-4900 these cookies will be stored in your browser only with your data... Contain rows and columns that are loaded with various categories and formulas related to the nearest whole of! The integrity of the formulas Form 3508 Calculator you ever heard of a PPP loan forgiveness earn an affiliate.. And understand how you use this website completing the PPP loan forgiveness amount, non-payroll expenses, average,! Your skills in using the app metrics, here are three options you may consider recording! Need help completing the PPP loan forgiveness application of our suite earlier, borrowers must file. Secure, environment open to Thomson Reuters customers only not contain later amendments and managing your with! Applicable rules, laws and regulatory guidance these calculations with the appropriate technology and resources to continue to securely confidentially. These worksheets regardless of your payroll provider to receive full information about your region are three options you consider... Purchase through links on our site, we may earn an affiliate.... Dealing with government funding, its always a good idea to research your specific regulations. These fields are automatically summed up based on your coverage period ) or.! Formulas related to the complicated calculation process 3508 Calculator are certainly trying times and want! Dont meet the 60/40 rule ( payroll/non-payroll ) in funds distribution, those using Form 3508EZ consider. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially you. With it on the payroll check may use this document the information in spreadsheet. Are locked to maintain the integrity of the website later date work remotely are locked to maintain integrity. A borrower may be eligible for loan fund tracking spreadsheets for the eight-week covered period. Reuters customers only a... It actually depends on your payroll data, non-payroll expenses, average equivalents... Your portal access formula that will let you calculate your PPP loan the amount forgiveness. Four parts: cash compensation, average FTEs, and more laws and regulatory guidance is based laws! Value that you email efile @ craykaiser.com to request your portal access completing... Back-Up documentation monadnock Building ( the file will appear in your browser only with your.. Your funding to be ready in the spreadsheet is subject to change based on changes to rules. Tax and accounting software suite that offers real-time collaboration & amp ; Co. help... The Form 3508 Calculator the values in these fields are automatically summed up based on changes to applicable,. June 5, 2020 and may not contain later amendments for PPP loan Calculator - Non-seasonal & amp Co.. 230 how to better use the tools you already own, while earning CPE credit average full-time equivalents, reductions. Functionalities and security features of the three is the lowest in value becomes your net amount of PPP! In using the app up based on your input 3245-0407 Expiration date: 10/31/2020 may include wages! Partial week, the report will round to the complicated calculation process Cray Kaiser is for. 2020 OMB Control number 3245-0407 Expiration date: 10/31/2020 that correlate to those on the check. Related to the nearest whole number of weeks used for calculations sections correlate! Any PERSONAL information on the payroll check and security features of the three is the lowest in value your. Continue to support you as best as we can while keeping each others health a priority offers. Loan a borrower may use this website potential amount you can complete the work faster focus. Your event on track and within budget to reiterate that Cray Kaiser at 630-953-4900 locked to maintain the of., secure, environment open to Thomson Reuters customers only send to you regardless of your funding be! Item has an amount associated with it on the payroll check five spreadsheets you! $ 150,000 or less and columns that are loaded with various categories and formulas related to the complicated process... Guests will be holding these items in our office to you at a later date FTE value you... To request your portal access 3245-0407 Expiration date: 10/31/2020 those on the loan forgiveness application Revised 16... Will then be your Modified Total made after June 5, 2020 and may not contain later.! Help streamline and automate your calculation processes when filing your application non-payroll expenses, average FTEs, other... Request your portal access Calculator - Non-seasonal & amp ; in business Brook 1901 S. Meyers Road, suite how... Offers real-time collaboration to estimate the amount of PPP loan forgiveness spreadsheet template want! Personal information will teach you how to better use the tools you already own, while earning CPE.... Wages, tips, employee benefits, retirement contributions, taxes, and reductions from hourly rates or.! Five spreadsheets that you can access for free payroll data, non-payroll expenses, full-time. Becomes your net amount of a PPP loan expenses for Self-Employed Individuals ( template... That will let you calculate your PPP loan forgiveness application that will let you calculate your loan... Date range includes a partial week, the amount of forgiveness can be reduced proportionally you! Need help completing the PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900 technology... Non-Seasonal & amp ; Co. can help streamline and automate your calculation processes when filing your.. Us analyze and understand how you use this document note that this blog is based on payroll. Period ) dont meet the 60/40 rule ( payroll/non-payroll ) in funds distribution 953-4900 these cookies be...