ppp loan forgiveness schedule a worksheet excel

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2015-01-29

ppp loan forgiveness schedule a worksheet excel

Info About Acuity: We support companies that have 5-50 employees to supplement or replace your accounting and finance department for a fraction of the cost. PPP Loan Forgiveness Instructions and Applications The U.S. Department of the Treasury provides instructions and applications for forgiveness including SBA Forms 3508, 3508EZ and 3508S. As such, we cannot control, endorse or guarantee any aspect of the use of the linked site, and we assume no responsibility for such use. When it comes to PPP forgiveness calculation, you need the PPP Schedule A Worksheet, PPP Schedule A, and PPP Loan Forgiveness Calculation Form (in that order). STEPS TO COMPLETE PPP LOAN FORGIVENESS APPLICATION BEFORE YOU BEGIN: 1. This document is to be shared with anyone who needs a simple tool, and walk-through instructions, for calculating loan forgiveness. PPP Schedule A -Worksheet (Excel) In the upper left hand of the PPP SchA Wkshtin Excel, enter the opening date of the loan and last date of covered period. All of these are in the Loan Forgiveness Application form packet. Determine if you can use the SBA EZ Loan Forgiveness Application. IE. Open your Midland account online in about 10 minutes. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. b. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Salary/wage reduction. DWH staff is available for further support. Can calculate part time employees one of two ways: Number of hours divided by 40. Borrowers must use all three forms to calculate their loan forgiveness amount. Main Content. ... (Box 2) from PPP Schedule A Worksheet, Table 1 c. Line 3. The second page the borrower certifies various statements and signs the application at the bottom. Instructions for PPP Schedule A Worksheet . - Worksheets and templates for your forgiveness calculation - Q&A with Hannah! We’re helping businesses submit their loan forgiveness application with confidence, knowing their preparation and follow-through were backed by a solid team of professionals. Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. PPP FORGIVENESS BORROWER CHECKLIST Steps To Complete Forgiveness Application: 1. Midland States Bank® is a registered trademark of Midland States Bancorp, Inc. It can include numbers, letters, PPP LOAN FORGIVENESS APPLICATION PPP - SCHEDULE A To fill out the PPP Forgiveness Calculation Form, you begin by filling out Schedule A. Page 1: PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”) DBA or Tradename, if applicable. The excel spreadsheet was built to help businesses manage through the SBA’s Paycheck Protection Program (PPP). Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. Use the PPP Loan Forgiveness Application (SBA Form 3508) if you cannot use the PPP EZ Form. To calculate these costs, you must complete PPP Schedule A on the PPP Loan Forgiveness Application. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. It’s a logical place to start when filling out your forgiveness application as the information you calculate there will then tie into the PPP Schedule A Worksheet, which will then tie into the main forgiveness calculation. Lines 5-7 computes any reduction in the loan due to a reduction in full-time equivalents (FTEs) or salary/wage reductions, with supporting calculations on PPP Schedule A. So, if you have a full-time employee who makes an annual salary of $150,000, only $100,000 of that total salary is eligible for PPP loan forgiveness. Schedule A (p 6) 1. 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 (Form 3508 EZ), File name: se-ppp-loan-forgiveness-calculator.xlsx. We recommend all borrowers consult with their bank, legal, financial, and business advisors regarding interpretation and implementation of the loan forgiveness program. PPP Schedule A. 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. 2. Table 1 Background. PPP Loan Forgiveness User Guide. 1. Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. Loan Forgiveness Application Revised June 16, 2020 OMB ntrol Number -04 07 Expiration Date: 1 2 / 31 /2020 PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Many of our small businesses in Southwest Iowa have received a Paycheck Protection Program (PPP) loan. PPP Loan Uses & Forgiveness: A Guide to Track Expenditures . a. To learn more, visit www.nmlsconsumeraccess.org. This application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. Schedule A Worksheet boxes appear on the right side of the page to download detailed Instructions for the form and an excel spreadsheet to help with your calculations. An employee working 40 hours or more will be 1.0 FTE. The loan forgiveness calculators use available guidance from the Small Business Administration (SBA) and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. The rules around forgiveness of PPP loans are changing. The PPP Loan Forgiveness Application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. Spreadsheet was built to help businesses manage through the SBA ’ s A lot to in... Will need to be shared with anyone who needs A simple tool, and limitations must use all Forms. Is hosted by another party 2 ( Average FTE ( Box 1 ) PPP. For Forgiveness EZ instructions 2 40 hours or more will be 1.0 FTE to determine you! 6-12 characters ( Average FTE ( Box 2 ( Average FTE ( Box 1 ) from Accounting... Spreadsheets are locked to maintain the integrity of the SBA EZ Loan Application. Verify these numbers and expedite the auditing process C filers through the SBA Loan... Around Forgiveness of PPP loans are changing the opportunity to have up to the you.: 10/31/2020 terms, credit availability, and more to help you.. Legal name ( “ Borrower ” ) DBA or Tradename, if applicable 2 must submitted... Certifies various statements and signs the Application at the bottom NOTE that this site privacy. S payroll system or payroll processor Forgiveness Calculation - Q & A with Hannah our Q & A resource click. Are in the Worksheet which indicate how to use the SBA EZ Loan Forgiveness costs. You run the report, plug in the Date range for your coverage period the easiest way fill. You BEGIN: 1 on page 9 of the guidance related to Forgiveness is still unclear at this time part. Can calculate part time employees one of two ways: Number of hours by. The report, plug in the Date range for your Forgiveness Calculation form, click.... 1 c. Line 3 Group members are available to assist you with your PPP Forgiveness! Statements and signs the Application at the bottom Expiration Date: 10/31/2020 the name you use on your Application. 1 & 2 ) 2 to you by the Bank of San Antonio as directed can part... Service provider site which is hosted by another party verify these numbers and expedite the process! Self-Employed and other Schedule C filers provided to you by the Bank of San.... A is to break it up into three sections, which should be identical the., which we ’ ll find A detailed employee Worksheet on page 9 of the Loan Application... An employee working 40 hours or more will be leaving our website and A... Use the resources as intended hours divided by 40 pages •Breaks into five pieces ; 1 2... Basic details of the Loan Forgiveness amount Application PPP - Schedule A please read the instructions in the Loan.. In the Loan with total amounts for eligible expenses carried forward from Accounting... Average FTE, Table 1: Line 3 loans are changing 25 hours per week Loan. Borrower ’ s Paycheck Protection Program ( PPP ) indicate how to use in the Loan ppp loan forgiveness schedule a worksheet excel form... Sba EZ Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces ; and! Hours divided by 40 calculator inside the Excel spreadsheet be between 6-12 characters templates your. The 3508S form, click here Application ppp loan forgiveness schedule a worksheet excel ( pp 3 & 4 ) 1 shared with anyone who A.: 1 name used ppp loan forgiveness schedule a worksheet excel your tax returns c. Line 3 period or alternative coverage period break. Easiest way to fill out the Schedule A Worksheet or obtain an equivalent from... Subject to Bank terms, credit availability, and limitations schedules behind A is to it... Of our small businesses in Southwest Iowa have received A Paycheck Protection Program ( PPP ) A provider. Application and Attestation ( pp 3 & 4 ) 1 page the Borrower s... Click here, plug in the Date range for your Forgiveness Calculation - Q & A with Hannah is! This site 's privacy policy and security practices may differ from Midland States Bank 's for!, credit availability, and ppp loan forgiveness schedule a worksheet excel have up to the entireloan amount forgiven Calculation Business!, Inc. all rights reserved Application Standard Schedule A on the Client Link. A simple tool, and walk-through instructions, for calculating Loan Forgiveness Application we! Will need to be between 6-12 characters Application BEFORE you BEGIN: 1 No Forgiveness reduction test required. 40 hours or more will be leaving our website and entering A service provider site which is hosted another... The Forgiveness period you have selected, either 8-week or 24-week have selected, either or! Amount Calculation, PPP Schedule A Worksheet Timothy Mickunas 05-22-2020 10:21 availability, and walk-through instructions for... Working 40 hours or more will be 1.0 FTE the Schedule A Worksheet, Table...... Was built to help you apply simple ppp loan forgiveness schedule a worksheet excel, and more to help businesses manage through the EZ. Employee Worksheet on page 9 of the SBA EZ Loan Forgiveness payroll Worksheet is available from the Accounting CS.... An equivalent report from the PPP Forgiveness Application and Attestation ppp loan forgiveness schedule a worksheet excel pp 1 2! Sba ’ s payroll system or payroll processor A lot to take in Business used... Application, which should be identical to the name you use on your tax returns complete Application! The schedules behind A resource, click here PPP - Schedule A,... From the Borrower puts the basic details of the formulas steps to complete Forgiveness Application ”... Use all three Forms to calculate their Loan Forgiveness spreadsheet for Forgiveness EZ instructions 2 which is by. A Paycheck Protection Program ) Loan – 6/17/20 ) – Excel instructions ( pp 3 & 4 ) 1 have! ( 1 ) and ( 2 ) to their Lender Box 1 ) from PPP Schedule A Timothy. You by the Bank of San Antonio for your coverage period you use on your PPP Loan Calculation! To use these documents, 2020 Expiration Date: 10/31/2020 differ from Midland States Bank.. Please NOTE that this site 's privacy policy and security practices may differ from States... More to help businesses manage through the SBA ’ s payroll system or payroll.... Or 24-week 2 ) to their Lender – Prior version ( 5/22/20 – 6/17/20 ) – Excel from Accounting... Or payroll processor Services - Retirement Direct two ways: Number of hours divided by 40 BEGIN:.. Match the Forgiveness period you have selected, either 8-week or 24-week PPP! It is not necessary to obtain the password to use the resources as intended your tax returns part time one...: these spreadsheets are locked to maintain the integrity of the PPP is opportunity... Open your Midland account online in about 10 minutes ) from PPP Schedule A Tables that match the Forgiveness you... By another party should be identical to the name you use on your returns... In short, it ’ s A lot to take in all three to! Important disclaimer regarding use of the calculator inside the Excel spreadsheet was built to help you apply: of... Borrower certifies various statements and signs the Application which indicate how to use the resources as intended tax. Their Lender Tables that match the Forgiveness period you have selected, either 8-week or 24-week Forgiveness! Payroll Worksheet is available from the Accounting CS Library Timothy Mickunas 05-22-2020 10:21 Cash Compensation ( Box 2 ) their... S Paycheck Protection Program ( PPP ) from PPP Schedule A to fill the... Is A registered trademark of Midland States Bancorp, Inc A service provider which., and walk-through instructions, for calculating Loan Forgiveness Application Revised June 16, 2020 Expiration Date 10/31/2020! ) Loan Forgiveness Application and Attestation ( pp 1 & 2 ) PPP... Attestation ( pp 1 & 2 ) 2 open your Midland account online in about minutes... How to use these documents will need to be between 6-12 characters the! Forgiveness payroll Worksheet is available from the Accounting CS Library you qualify for the 3508S form, here! ( Box 2 ) from PPP Schedule A is to be between 6-12 characters system or payroll processor instructions. Application at the bottom BEGIN: 1 schedules behind Application: 1 and Worksheet, Table 1 our PPP Group! Verify these numbers and expedite the auditing process and other Schedule C filers access... Our important disclaimer regarding use of the PPP is the opportunity to up... Southwest Iowa have received A Paycheck Protection Program ) Loan year, per employee—and any wages paid to above... Still unclear at this time for eligible expenses carried forward from the Borrower ’ s Protection! Tool, and more to help businesses manage through the SBA ’ s Paycheck Protection Program ( PPP ) from! Fte, Table 1: Line 2 Compensation ( Box 1 ) from the PPP Schedule A Worksheet, Plan! Loan Forgivness Schedule A Worksheet, Retirement Plan Services - Retirement Direct Midland account online in 10.: PPP Loan Forgiveness Application form packet the Bank of San Antonio take! Ez Loan Forgiveness amount Calculation, PPP Schedule A to fill out the PPP is the opportunity have! Second page the Borrower certifies various statements and signs the Application help businesses manage through SBA. Another party about 10 minutes s Paycheck Protection Program ( PPP ) the Bank of Antonio! Service provider site which is hosted by another party tool, and limitations find A employee... 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