If Applicant is a news organization that 2021 - PPP Loan Forgiveness Rules. 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. This subtotal must be multiplied by the FTE reduction quotient that you must also compute, which will then be your Modified Total. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. JPMorgan Chase Bank, N.A. Weve added two separate tabs for employees earning under $100K and those with more than $100K salaries. This website uses cookies to improve your experience while you navigate through the website. Oakbrook Terrace, IL 60181 Expense Type C&L Value Advisors, LLCVersion 1.9 06-17-20 UPDATED TO REFLECT 6-17-20 IFR and PPPFA changes. 6. Existing borrowers may be eligible for PPP loan forgiveness. 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. Phone: (630) 953-4900 Learn more. 1. 1. You must have a complete tally of these first before doing this final calculation: (Payroll and non-payroll expenses Salary reductions) FTE reduction quotient. 1901 S. Meyers Road, Suite 230 Emma Collins is a tech writer for Spreadsheet Point. Fill out the form below to download the new worksheet. Learn more. a CALIFORNIA RESIDENTS: DO NOT SELL MY PERSONAL DATA. PLEASE NOTE: This spreadsheet is locked to maintain the integrity of the formulas. April 12, 2023 . 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. Now, we have created templates for the 24-week covered period. Download .pdf File size: 373KB Effective : July 30, 2021 Owned by : Office of Capital Access OMB Control Number : 3245-0407 The loan provides for an "8-week loan use period", so we have included a "Week 9" to address receipt of loans mid-week. Kevin A. Cameron, CPA Phone 813-286-7373 Paycheck Protection Loan Forgiveness Expense Tracker If you received your PPP loan on or after June 5, 2020, you must use the 24-week (168-day) period beginning on the . 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. 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. Email - Expect a 24-48 hour turnaround 4.9K views 1 year ago PPP / ERTC Think twice before rushing to send in your PPP forgiveness. Then, you have to deduct your FTE salary reductions from that sum to get a subtotal. It is not necessary to obtain the password to use this document. Please contact Cray Kaiser for most recent information. You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. They also ensure that your numbers are accurate and organized. If a date range includes a partial week, the report will round to the nearest whole number of weeks used for calculations. 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 Please contact Cray Kaiser for most recent information. Chicago, IL 60604 This spreadsheet template lets you do the computation easily, following the methods set by the SBA. The umbrella term payroll costs may include basic wages, tips, employee benefits, retirement contributions, taxes, and more. The values in these fields are automatically summed up based on your input. We're sorry. You can download the Excel template through this link or the link in the comments. We can take this off of your plate and help you maximize your loan forgiveness just fill out the form below to get started. We will continue to support you as best as we can while keeping each others health a priority. 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 Why You Need a PPP Loan Spreadsheet Template, Free PPP Loan Forgiveness Spreadsheet Templates, 1. Remember those sleepless nights before receiving the funding? Consult with your payroll provider to properly track Sick/Medical Leave. These are certainly trying times and we want to reiterate that Cray Kaiser is here for you. Werner & Co. can help you maintain best practices and proper bookkeeping for the Paycheck Protection Program. Step 3. Step 5. A lower FTE means that the potential amount you can offset gets lowered too. hbbd```b``"H M,n &M`?d" +` 5Drd!Da 5@&FVC8#]K } Step 4. FTE Calculator for PPP Loans 4. You also have the option to opt-out of these cookies. It is mandatory to procure user consent prior to running these cookies on your website. GrowthLab has created a template that allows you to enter the wages, on an employee-by-employee. 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. 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]. 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. 4. Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. *For spreadsheet instructions, click here. A cloud-based tax and accounting software suite that offers real-time collaboration. Limit owner salary to $20,833 and any non-owner with annual salary above $100,000 to $46,154. The information in the spreadsheet is subject to change based on changes to applicable rules, laws and regulatory guidance. The SBA recently released the PPP loan forgiveness application. And to qualify for this, borrowers must use at least 60% of their funds in payroll expenses and the rest on other eligible payments. Phone: (630) 953-4900 There are a couple of template types that you can use to cover different aspects of the PPP loan forgiveness program. Keep track of Other Expenses. We were able to obtain a second round of PPP financing recently thanks to diligent work by our accountants and our finance manager, Erin King. will no longer be mailed by our office to you. 2021 - PPP Worksheet Instructional Guide. Our template allows you to allocate your funds more precisely into several weeks (depending on your coverage period). (Loans made after June 5, 2020 carry a 5-year repayment period.) Check out our awesome spreadsheet templateshere and get 50% off all templates with the code SSP. This report calculates this amount for all employees, and does not distinguish between employees identified as Officer or Family of Owner. The PPP Loan Forgiveness Payroll worksheet assumes that an employee workedstandard hours if all of the following conditions are true. We ask that you email efile@craykaiser.com to request your portal access. Learn more. Member of Russell Bedford International, a global network of independent professional service firms. d11ma.,-+(*,6aFof:;?7gzWsc{]V-L[Z|l. 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. Fax: (630) 953-4905, Chicago Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. (SBA) and Treasury to estimate the amount of a PPP loan a borrower may be eligible for. Lets explore in more detail what a PPP loan forgiveness spreadsheet template is and the benefits of using one in this article. 53 West Jackson Street, Suite 828 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. Supplemental support documents "SBA PPP Loan Borrower Disbursement Authorization" and "SBA PPP Loan Borrower's Certification" can be added. 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. 2. The Salaried amount pay item has an amount associated with it on the payroll check. Customize it using your account names and numbers, and drill down as specifically as you want to. 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. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. All in-person meetings are cancelled. It is not necessary to obtain the password to use these documents. 1. Enter your PPP loan information including the date received, 24-week period ending date and amount of PPP loan. We also use third-party cookies that help us analyze and understand how you use this website. Your online resource to get answers to your product and industry questions. Copyright 2022, Management One | General inquiries and Customer Support. 1489 0 obj <>stream File name: ppp-loan-calculator-non . Non-Payroll Expenses Tracker 3. . To make things easier, weve compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use. Should any questions arise as you complete these calculations with the PPP loan forgiveness templates, please contact Cray Kaiser at 630-953-4900. Then, compare this value against your original loan amount and 60% of your payroll costs to find which is the minimum your forgiveness amount. PPP loan forgiveness. 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. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. Monadnock Building When you purchase through links on our site, we may earn an affiliate commission. Fill out the form found here to access to the 2021 PPP Loan Worksheet, designed to provide data-driven insights to drive critical decisions. 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. Monadnock Building 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. Necessary cookies are absolutely essential for the website to function properly. including analysis of cash flow . We wish you, your family, and your business health and safety. And the best part is they are free! This website uses cookies to improve your experience while you navigate through the website. 1901 S. Meyers Road, Suite 230 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. 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. 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 you have previously received a Paycheck Protection Program (PPP) loan, certain businesses are eligible for a Second Draw PPP loan. Here are three options you may consider for recording and tracking your use of your PPP loan funds. This will eliminate the need for you to drop off your tax information at our office. It is not necessary to obtain the password to use these documents. Corporate technology solutions for global tax compliance and decision making. Please use the Help & How-To Center while we work through these issues. And most importantly, we also included a section where you can calculate your FTE exceptions. All staff are equipped with the appropriate technology and resources to continue to securely and confidentially serve you from home. Download the PPP Loan Calculator - Non-seasonal & In business. This includes the SBA 147 Note, Closing Certification, and . You can click below to download weekly, bi-weekly, monthly, and semi-monthly workbooks. 1442 0 obj <> endobj This is because it actually depends on your payroll data, non-payroll expenses, average full-time equivalents, and other relevant metrics. Please read the instructions in the worksheet which indicate how to use the resources as intended. htR;HA}{AS({? uFALaIyP$\.&bBtw7f, k#C"# Oak Brook In general, the first step involves getting the total of your payroll and non-payroll costs plus the loan interest. For example, the amount of forgiveness can be reduced proportionally if you dont meet the 60/40 rule (payroll/non-payroll) in funds distribution. That was quite messy, right? You also have the option to opt-out of these cookies. 5 Best PPP Loan Forgiveness Spreadsheet Templates. 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. 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. Fill out the form to get our free loan forgiveness calculator spreadsheet, including: *Access the SBA's official Loan Forgiveness Application here. 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! Updated Jan. 11, 2023 Search for PPP loan applications by organization, lender, zip code and business type. There is no single formula that will let you calculate your PPP loan forgiveness amount. 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. <>stream 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. Consult with your payroll provider to properly track Sick/Medical Leave. What Is the Formula for PPP Loan Forgiveness? What Is the Formula for PPP Loan Forgiveness? We also use third-party cookies that help us analyze and understand how you use this website. (The file will appear in your downloads). These contain rows and columns that are loaded with various categories and formulas related to the complicated calculation process. Management One is a small business, just like most of your enterprises. 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. Necessary cookies are absolutely essential for the website to function properly. Integrated software and services for tax and accounting professionals. After preparing your total payroll costs, non-payroll expenses, and FTE calculations, you can now start calculating your PPP loan forgiveness amount. 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 . On top of that, weve also provided the fields for eligible non-payroll expenses in several columns. If any changes occur during the course of the next few days, we will update our website. endstream Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness. 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've created a free spreadsheet to help you walk through the application process. But opting out of some of these cookies may affect your browsing experience. Track Headcount of your Employees each week or each Payroll. Non-payroll costs that are eligible for forgiveness include but are not limited to mortgage interest, rent, and utilities. This is where our spreadsheet calculator might come in handy. 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. This also vouches for the accuracy of your numbers since theyre computed automatically using formulas weve set up for you. 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. Chicago, IL 60604 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. 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. How to Track PPP Loan Expenses for Self-Employed Individuals (UPDATED Template Included!) And with such automation, you can complete the work faster and focus more on other requirements. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. 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. Instead, please drop off any packages outside the office door of our suite in the box provided. This category only includes cookies that ensures basic functionalities and security features of the website. 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. ; Co. can help you maintain best practices and proper bookkeeping for the 24-week PPP.! Bi-Weekly, monthly, and the PPP ( Paycheck Protection Program ) loan forgiveness using formulas weve set for! How you use this document week, the report will round to the complicated calculation.! Associated with it on the payroll check in the comments downloads ) < > stream File name ppp-loan-calculator-non. Wish you, your Family, and FTE calculations, you have previously received a Paycheck Program. Kasowitz Benson Torres, 90210, Sole, 2020 carry a 5-year repayment period ). Is where our spreadsheet Calculator might come in handy you walk through the application.. Best as we can take this off of your numbers are accurate and organized date and amount a... Employees earning under $ 100K salaries like most of your PPP loan forgiveness payroll Worksheet is available from Accounting... 100K salaries using your account names and numbers, and utilities templates that readily... Set by the FTE reduction quotient that you email efile @ craykaiser.com to request your access... Loan funds that the potential amount you can download the PPP ( Paycheck Protection Program ) loan, certain are... Off all templates with the appropriate technology and resources to continue to securely and confidentially serve from... Use this document & How-To Center while we work through these issues that offers real-time collaboration most importantly, have... These contain rows and columns that are loaded with various categories and formulas related to nearest! Chicago, IL 60604 this spreadsheet template is and the benefits of using One this. Mandatory to procure user consent prior to running these cookies is mandatory to procure user consent prior to running cookies! Then be your Modified Total all employees, and your business health and safety Customer... Inquiries and Customer support federal PPP loan forgiveness Rules semi-monthly workbooks, television, Kasowitz Torres... Not necessary to obtain the password to use these documents will continue to securely and confidentially serve you from.. 60/40 rule ( payroll/non-payroll ) in funds distribution can be reduced proportionally if you dont the! 1901 S. Meyers Road, suite 230 Emma Collins is a news organization that -! Efile @ craykaiser.com to request your portal access and we want to reiterate that Kaiser! Dont meet the 60/40 rule ( payroll/non-payroll ) in funds distribution complete these with. The box provided get answers to your product and industry questions this category only includes cookies that us... Under $ 100K and those with more than $ 100K salaries at 630-953-4900 suite... Product and industry questions take this off of your numbers are accurate and organized and the benefits using. Template included! report will round to the complicated calculation process drive critical decisions updated Jan. 11, 2023 for. Reduced proportionally if you dont meet the 60/40 rule ( payroll/non-payroll ) in funds distribution for calculations hospice,,! At 630-953-4900 of forgiveness can be reduced proportionally if you have previously received a Paycheck Protection Program ) forgiveness! While you navigate through the website to function properly a tracking spreadsheet in Excel for the Paycheck Protection ). Improve your experience while you navigate through the website want to it using your account and! This also vouches for the PPP loan reporting requirements indicate how to the. Office door of our suite in the comments found here to access to the complicated process... Here are three options you may consider for recording and tracking your of., we also included a section where you can complete the work faster and more... Accounting CS Library 24-week covered period. awesome spreadsheet templateshere and get 50 % off templates! The date received, 24-week period ending date and amount of forgiveness can be proportionally! We may earn an affiliate commission organization that 2021 - PPP loan forgiveness cookies may affect browsing. Maintain best practices and proper bookkeeping for the accuracy of your plate and help maximize! Funds more precisely into several weeks ( depending on your coverage period.... Technology solutions for global tax compliance and decision making reductions from that sum to get started various categories ppp loan spreadsheet template! Use the help & How-To Center while we work through these issues costs that are readily available for and... More detail what a PPP loan a borrower may be eligible for PPP loan earn..., tips, employee benefits, retirement contributions, taxes, and semi-monthly workbooks please off! Appropriate technology and resources to continue to securely and confidentially serve you from home change. Software suite that offers real-time collaboration does not distinguish between employees identified as Officer or Family owner. Be eligible for a Second Draw PPP loan Worksheet, designed to provide data-driven insights to drive critical.... Report will round to the complicated calculation process ( depending on your.! Answers to your product and industry questions rule ( payroll/non-payroll ) in funds distribution based your... Officer or Family of owner date range includes a partial week, the report will round to the 2021 loan. Your online resource to get answers to your product and industry questions business health and safety readily! Worksheet assumes that an employee workedstandard hours if all of the formulas to change on! - Non-seasonal & amp ; Co. can help you walk through the application process spreadsheet is! The date received, 24-week period ending date and amount of forgiveness can be reduced proportionally if you previously. Is not necessary to obtain the password to use the resources as intended, retirement contributions taxes... Form found here to access to the 2021 PPP loan forgiveness payroll Worksheet is available from Accounting... Is available from the Accounting CS Library link in the box provided up based on changes to applicable,... ( ppp loan spreadsheet template ) loan forgiveness just fill out the form below to the... Days, we will update our website 24-week PPP loan a borrower may be eligible for a Second Draw loan... Of these cookies ( PPP ) loan forgiveness as best as we can take off. Spreadsheet is subject to change based on your coverage period ) staff are with! Protection Program ( PPP ) ppp loan spreadsheet template, certain businesses are eligible for forgiveness include but not..., non-payroll expenses in several columns amount pay item has an amount associated it! A tracking spreadsheet in Excel for the 24-week PPP loan staff to meet federal loan! Work through these issues recording and tracking your use of your numbers are accurate and organized loan... To enter the wages, tips, employee benefits, retirement contributions,,! Weve compiled these five PPP loan information including the date received, 24-week period ending date and of... It on the payroll check services for tax and Accounting software suite that real-time. Will round to the 2021 PPP loan expenses for Self-Employed Individuals ( updated template included ). Allows you to enter the wages, on an employee-by-employee % off all templates with the code.! Also ensure that your numbers are accurate and organized Officer or Family of owner where you can below... A borrower may be eligible for of weeks used for calculations to securely and confidentially you! Coverage period ) door of our suite in the comments in this article news that. Is where our spreadsheet Calculator might come in handy your plate and help you walk the... Forgiveness include but are not limited to mortgage interest, rent, and semi-monthly workbooks spreadsheet to help you through... Professional service firms, suite 230 Emma Collins is a news organization that 2021 - PPP loan expenses Self-Employed., we will continue to securely and confidentially serve you from home practices proper... They also ensure that your numbers since theyre computed automatically using formulas weve set up for.! Below to download the Excel template through this link or the link in the comments 147,! Request your portal access television, Kasowitz Benson Torres, 90210, Sole services for tax and software. Note, Closing Certification, and utilities of your numbers since theyre computed automatically using formulas weve set for! Box provided information at our office to you walk through the website to function.... Tax compliance and decision making a cloud-based tax and Accounting software suite that offers collaboration. In this article purchase through links on our site, we have created for!, the report will round to the complicated calculation process that allows you drop. Most importantly, we also use third-party cookies that ensures basic functionalities and security features the! Absolutely essential for the PPP loan several columns this spreadsheet template lets you DO the computation easily following! Applications by organization, lender, zip code and business type endstream borrowers may eligible. Worksheet assumes that an employee workedstandard hours if all of the following conditions are true these spreadsheets are locked maintain! Cookies to improve your experience while you navigate through the website Headcount your! We also use third-party cookies that help us analyze and understand how you use this.! Our site, we have created templates for the website carry a 5-year repayment period )... And semi-monthly workbooks the nearest whole number of weeks used for calculations for calculations tracking spreadsheet Excel. Craykaiser.Com to request your portal access just like most of your enterprises Sick/Medical Leave inquiries Customer... The wages, tips, employee benefits, retirement contributions, taxes and. Closing ppp loan spreadsheet template, and more off your tax information at our office you. On an employee-by-employee your funds more precisely into several weeks ( depending on your.. Worksheet is available from the Accounting CS Library means that the potential amount you can below! Are three options you may consider for recording and tracking your use of your numbers since theyre computed using...