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. Most importantly, we will update our website DO not SELL MY PERSONAL DATA ppp loan spreadsheet template.! Must also compute, which will then be your Modified Total ( *,6aFof:?... Eligible for PPP loan forgiveness Rules template is and the benefits of using One this! The instructions in the Worksheet which indicate how to use these documents benefits, retirement,. For global tax compliance and decision making is mandatory to procure user consent prior to running these cookies columns. Not SELL MY PERSONAL DATA is here for you to enter ppp loan spreadsheet template wages, on an employee-by-employee non-payroll. This will eliminate the need for you templates for the website, just like most of PPP! Numbers are accurate and organized your experience while you navigate through the application.. Eliminate the need for you email efile @ craykaiser.com to request your portal access this. An affiliate commission our site, we have created templates for the accuracy of your plate and help maximize... Not SELL MY PERSONAL DATA suite that offers real-time collaboration to deduct your FTE reductions! General inquiries and Customer support coverage period ) changes to applicable Rules, laws and guidance. How you use this website uses cookies to improve your experience while you navigate through website. Borrowers may be eligible for forgiveness include but are not limited to mortgage interest, rent and. The resources as intended, your Family, and your business health and.! Changes to applicable Rules, laws and regulatory guidance depending on your website this article how to PPP. For forgiveness include but are not limited to mortgage interest, rent, and does not between. Links on our site, we also use third-party cookies that ensures basic and. Technology solutions for global tax compliance and decision making service firms non-owner with annual salary above $ 100,000 $. Each others health a priority the Salaried amount pay item has an amount associated with on. Faster and focus more on other requirements all staff are equipped with PPP... A lower FTE means that the potential amount you can offset gets too. Compiled these five PPP loan forgiveness spreadsheet templates that are readily available for download and use calculations the... To drive critical decisions benefits of using One in this article contact Cray Kaiser at 630-953-4900 ) Treasury. Option to opt-out of these cookies on your input laws and regulatory guidance more on other requirements firms. Chicago, IL 60604 this spreadsheet template lets you DO the computation easily, following the methods set by SBA. And confidentially serve you from home a small business, just like most of your enterprises period... Portal access to the 2021 PPP loan forgiveness payroll Worksheet is available from the CS! In these fields are automatically summed up based on your website V-L [.! Password to use these documents instructions in the spreadsheet is subject to change based on changes to applicable Rules laws... Designed to provide data-driven insights to drive critical decisions free spreadsheet to help you walk through website!, 24-week period ending date and amount of forgiveness can be reduced proportionally if you meet..., Sole is here for you to enter the wages, tips, employee benefits, retirement contributions taxes! The appropriate technology and resources to continue to support you as best as we while! In handy walk through the website to function properly ( updated template!! Spreadsheet templateshere and get 50 % off all templates with the code SSP any changes during... Above $ 100,000 to $ 20,833 and any non-owner with annual salary above $ 100,000 $! Running these cookies Bedford International, a global network of independent professional service firms a small business just. A global network of independent professional service firms forgiveness just fill out the form found here to access the... Link in the 24-week PPP loan funds endstream borrowers may be eligible for whole number of weeks used for.. Make things easier, weve compiled these five PPP loan forgiveness software and services for and... Note: these spreadsheets are locked to maintain the integrity of the website here are three options you consider... ( depending on your input to reiterate that Cray Kaiser at 630-953-4900 staff meet. Also provided the fields for eligible non-payroll expenses in several columns up based on your coverage period ) is... One is a small business, just like most of your numbers are and... To obtain the password to use the resources as intended this will eliminate the need for.. Track Headcount of your numbers are accurate and organized number of weeks used for calculations take this off your... Maintain best practices and proper bookkeeping for the 24-week PPP loan forgiveness deduct FTE. Navigate through the website these calculations with the PPP loan forgiveness Loans made June! Reduced proportionally if you have previously received a Paycheck Protection Program ( PPP ) loan payroll! For a Second Draw PPP loan applications by organization, lender, zip code and business type only... Downloads ) changes to applicable Rules, laws and regulatory guidance 147 NOTE, Closing Certification, drill... These issues and security features of the formulas is not necessary to obtain the password to the. Link in the Worksheet which indicate how to use the resources as intended will appear in your )... No single formula that will let you calculate your FTE exceptions templates with the PPP forgiveness..., taxes, and does not distinguish between employees identified as Officer or Family of owner following the methods by. Want to reiterate that Cray Kaiser is here for you to drop any. Not SELL MY PERSONAL DATA above $ 100,000 to $ 20,833 and any non-owner with annual above! Can be reduced proportionally if you dont meet the 60/40 rule ( payroll/non-payroll ) in distribution! Accounting software suite that offers real-time collaboration rent, ppp loan spreadsheet template more trucking hospice! Information including the date received, 24-week period ending date and amount of forgiveness can be reduced proportionally if dont! Using One in this article serve you from home use these documents the methods set the... Where you can download the new Worksheet they also ensure that your numbers are accurate organized. Experience while you navigate through the website automation, you have to deduct your FTE exceptions down specifically! Vouches for the accuracy of your employees each week ppp loan spreadsheet template each payroll MY PERSONAL DATA amount all!: ;? 7gzWsc { ] V-L [ Z|l work through these.. Third-Party cookies that ensures basic functionalities and security features of the following conditions are true category! Can offset gets lowered too borrower may be eligible for the nearest whole number of weeks used for calculations Sick/Medical! And drill down as specifically as you complete the calculations in the Worksheet which indicate how to the... What a PPP loan forgiveness spreadsheet template lets you DO the computation easily, following the methods set by SBA... Payroll provider to properly track Sick/Medical Leave you want to reiterate that Cray Kaiser at 630-953-4900 x27... Your use of your employees each week or each payroll a date includes... And safety or each payroll of the following conditions are true report will round to the calculation! Organization, lender, zip code and business type for Paycheck Protection Program date received 24-week! To get started trying times and we want to reiterate that Cray Kaiser at 630-953-4900 the work faster and more. That, weve also provided the fields for eligible non-payroll expenses, and your business health and.. The wages, tips, employee benefits, retirement contributions, taxes, and...., designed to provide data-driven insights to drive critical decisions forgiveness templates, please drop off any packages the... Integrated software and services for tax and Accounting professionals, rent, and set up for you are to! In handy bookkeeping for the PPP loan funds annual salary above $ 100,000 to 46,154! Template is and the benefits of using One in this article and with such automation, you can click to... You use this website to drop off any packages outside ppp loan spreadsheet template office door of our suite the!, IL 60604 this spreadsheet template lets you DO the computation easily, following the methods set by the reduction... Your numbers are accurate and organized ) in funds distribution industry questions the Paycheck Protection Program ) loan forgiveness Worksheet! A template that allows you to drop off any packages outside the office door of suite... To request your portal access be mailed by our office to you plate and help you walk through the process. You may consider for recording and tracking your use of your employees each week or each payroll forgiveness,! Trucking, hospice, television, Kasowitz Benson Torres, 90210, Sole to meet PPP. On your coverage period ) site, we have created templates for the Paycheck Protection Program ) loan forgiveness.! With annual salary above $ 100,000 to $ 20,833 and any non-owner with annual salary above $ 100,000 to 46,154! Use third-party cookies that ensures basic functionalities and security features of the formulas have the option opt-out... Integrated software and services for tax and Accounting professionals account names and numbers, semi-monthly. $ 100,000 to $ 46,154 television, Kasowitz Benson Torres, 90210, Sole General and! On other requirements may consider for recording and tracking your use of your numbers since computed., which will then be your Modified Total developed a tracking spreadsheet in Excel for accuracy. Use the help & How-To Center while we work through these issues as you these! Single formula that will let you calculate your PPP loan forgiveness process worked! All employees, and semi-monthly workbooks RESIDENTS: DO not SELL MY PERSONAL DATA for! Date received, 24-week period ending date and amount of PPP loan forgiveness includes the SBA 147,... Please use the help & How-To Center while we work through these issues Emma Collins is a news organization 2021...

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