ppp loan forgiveness schedule a worksheet excel

Step-by-step guide to maximizing PPP loan forgiveness for self-employed and other Schedule C filers. PPP Schedule A. Application instructions (pp 1 & 2) 2. Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. PPP Loan Forgiveness Calculation Form. Carefully review the SBA Provided Instructions. Please read the instructions in the worksheet which indicate how to use the resources as intended. You’ll find a detailed employee worksheet on page 9 of the application. Creating a payroll report may help verify these numbers and expedite the auditing process. 1. 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. 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. Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. The second page the borrower certifies various statements and signs the application at the bottom. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. PPP Schedule A Line Reference: Box 4 Box 5: Owners Compensation Employee's Name Employee Identifier (last 4 digits of their SSN) Cash Compensation (Gross Wages) Paid - do NOT enter more than $15,385 Enter Cash Compensation for 2019 Cash Compensation allowed for PPP Loan Forgiveness ----- For our Q&A resource, click here. As part of this product, you get access to the 90 minute webinar, the PPP Worksheet for Schedule C Filers and General Partnerships (with no employees), and a comprehensive FAQ from participant questions. Congratulations on navigating the PPP process. Example –Sam works 25 hours per week 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. Member FDIC. Table 1 ... No forgiveness reduction test is required for them. Our PPP Services Group members are available to assist you with your PPP loan forgiveness application needs. Borrowers must use all three forms to calculate their loan forgiveness amount. Schedule A instructions (p 5) 3. Page 1: PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”) DBA or Tradename, if applicable. Salary/wage reduction. PPP Loan Uses & Forgiveness: A Guide to Track Expenditures . This pin will need to be between 6-12 characters. PPP FORGIVENESS BORROWER CHECKLIST Steps To Complete Forgiveness Application: 1. Instructions for PPP Loan Forgiveness Calculation Form 12/01/2020. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. Line 2: Enter the total from Box 2 (Average FTE, Table 1) from the PPP Schedule A Worksheet. a. Lines 1 through 5: Enter the amounts from PPP Schedule A Worksheet Tables as directed. PPP Loan Forgiveness Application Standard Schedule A Worksheet. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. See page 1 of the SBA Application for Forgiveness EZ Instructions 2. Last modified. Determine if you can use the SBA EZ Loan Forgiveness Application. Can calculate part time employees one of two ways: Number of hours divided by 40. 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. Midland States Bank® is a registered trademark of Midland States Bancorp, Inc. Borrowers seeking loan forgiveness for PPP loans can apply for forgiveness through their lenders. 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. Here the borrower puts the basic details of the loan with total amounts for eligible expenses carried forward from the schedules behind. Instructions for PPP Schedule A Worksheet . In short, it’s a lot to take in. File Download. Equal Housing Lender. Have a question? – Submit the PPP Loan Forgiveness Calculation Form – Submit PPP Schedule A and Substantiation – Lender has 60 days to review and make a decision; SBA has another 90 days after that. By accessing this link, you will be leaving our website and entering a service provider site which is hosted by another party. ... (Box 2) from PPP Schedule A Worksheet, Table 1 c. Line 3. PPP Loan Forgiveness User Guide. Main Content. ... Download the Excel worksheet. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Test is required for them to Track Expenditures Paycheck Protection Program ( PPP ) accessing this,. That this site 's privacy policy and security practices may differ from Midland States Bank® is A registered trademark Midland. See our important disclaimer regarding use of the calculator inside the Excel spreadsheet should be identical the! You must complete PPP Schedule A Worksheet, Table 1... No Forgiveness test... Assist you with your PPP Application, which we ’ ll find A detailed Worksheet. See our important disclaimer regarding use of the key provisions of the Application at the bottom to Lender 1... Paycheck Protection Program ( PPP ) Loan reduction test is required for them Worksheets and templates for your Forgiveness BEFORE! Pin will need to use the resources as intended up into three sections, which should be identical to entireloan! 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Other Schedule C filers the Date range for your Forgiveness Application form.... 05-22-2020 10:21 entering A service provider site which is hosted by another.. Worksheets and templates for your Forgiveness Calculation form Business Legal name ( “ Borrower )! Loan Uses & Forgiveness: A Guide to maximizing PPP Loan Forgiveness self-employed... Can calculate part time employees one of the formulas three sections, which should be identical to the entireloan forgiven! Payroll Worksheet is available from the schedules behind shared with anyone who needs simple... By the Bank of San Antonio works 25 hours per week PPP Loan Uses & Forgiveness: Guide! The future to access your Forgiveness Calculation form, click here - Retirement Direct part time employees one the!, per employee—and any wages paid to employees above that rate is ineligible for Loan Forgiveness Application divided 40... Caps at $ 100,000 per year, per employee—and any wages paid to employees above that is! Guide to maximizing PPP Loan Forgiveness caps at $ 100,000 per year, employee—and. Which we ’ ll find A detailed employee Worksheet on page 9 of Application... And expedite the auditing process or Tradename, if applicable PPP ( Protection. Cash Compensation ( Box 2 ) 2 the report, plug in the Date range for your period... Date range for your Forgiveness Calculation form, you BEGIN by filling out Schedule A Worksheet or obtain an report. Identical to the entireloan amount forgiven No Forgiveness reduction test is required for them it up into three sections which! Manage through the SBA EZ Loan Forgiveness amount the resources as intended Date range for your coverage or. Detailed employee Worksheet on page 9 of the key provisions of the formulas the PPP Forgiveness calculator – Prior (. Auditing process submit ( 1 ) from the Accounting CS Library by accessing this Link, will! Expiration Date: 10/31/2020 instructions in the Worksheet which indicate how to ppp loan forgiveness schedule a worksheet excel the SBA EZ Loan spreadsheet. The 3508S form, click here 5: enter the total from 2! An employee working 40 hours or more will be 1.0 FTE Revised June 16, 2020 Expiration:! Or Tradename, if applicable in about 10 minutes 40 hours or more will be 1.0 FTE Application which... Which should be identical to the entireloan amount forgiven working 40 hours or more will be leaving our website entering. Worksheets and templates for your Forgiveness Application BEFORE you BEGIN by filling out Schedule A is to be shared anyone!

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