ppp loan forgiveness schedule a worksheet excel

Can calculate part time employees one of two ways: Number of hours divided by 40. To determine if you qualify for the 3508S form, click here. Copyright © 2017 Midland States Bancorp, Inc. All rights reserved. Table … PPP Loan Forgiveness Application Standard Schedule A Worksheet. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. Congratulations on navigating the PPP process. PPP Schedule A. To learn more, visit www.nmlsconsumeraccess.org. Have a question? They’ll need to verify the number of employees on the payroll and their pay rates during the loan forgiveness covered period after their loan was disbursed. Schedule A (p 6) 1. Midland States Bank® is a registered trademark of Midland States Bancorp, Inc. 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 ----- DWH staff is available for further support. For our Q&A resource, click here. An employee working 40 hours or more will be 1.0 FTE. 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. Please read the instructions in the worksheet which indicate how to use the resources as intended. Schedule A instructions (p 5) 3. 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. One of the key provisions of the PPP is the opportunity to have up to the entireloan amount forgiven. This schedule is baffling to me. 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. 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. Credit subject to Bank terms, credit availability, and limitations. 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. Borrowers must use all three forms to calculate their loan forgiveness amount. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Our PPP Services Group members are available to assist you with your PPP loan forgiveness application needs. Member FDIC Equal Housing Lender. Line 1: Enter the amount in Box 1 (Cash Compensation, Table 1) from the PPP Schedule A Worksheet. PPP Loan Forgiveness Application Standard Schedule A Worksheet, Retirement Plan Services - Retirement Direct. a. Salary/wage reduction. Download PDF. 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. It is not necessary to obtain the password to use these documents. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. ... (Box 2) from PPP Schedule A Worksheet, Table 1 c. Line 3. Table 1 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. All of these are in the Loan Forgiveness Application form packet. PPP LOAN FORGIVENESS APPLICATION PPP - SCHEDULE A To fill out the PPP Forgiveness Calculation Form, you begin by filling out Schedule A. Lines 8-10 compute the potential forgiveness amounts with the actual forgiveness amount being the smallest of lines 8-10, which is entered on line 11. 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. Lines 1 through 5: Enter the amounts from PPP Schedule A Worksheet Tables as directed. PPP FORGIVENESS BORROWER CHECKLIST Steps To Complete Forgiveness Application: 1. This document is to be shared with anyone who needs a simple tool, and walk-through instructions, for calculating loan forgiveness. Here the borrower puts the basic details of the loan with total amounts for eligible expenses carried forward from the schedules behind. The rules around forgiveness of PPP loans are changing. Instructions for PPP Loan Forgiveness Calculation Form Main Content. PPP Loan Forgiveness Calculation Form. By accessing this link, you will be leaving our website and entering a service provider site which is hosted by another party. Many of our small businesses in Southwest Iowa have received a Paycheck Protection Program (PPP) loan. 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. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. PPP Loan Forgivness Schedule A Worksheet Timothy Mickunas 05-22-2020 10:21. Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. Page 1: PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”) DBA or Tradename, if applicable. b. 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. Instructions for PPP Schedule A . The amount of loan forgiveness the Borrower applies for may be subject to reductions as explained in PPP Schedule A. PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Amounts Line 1. Applying for PPP Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces; 1 and 2 must be submitted to Lender: 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: Line 2. 12/01/2020. PPP Loan Forgiveness Application Standard Schedule A Worksheet. 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. Member FDIC. Example –Sam works 25 hours per week Schedule A worksheet (p 9) 1. Enter the amount from line 3 of PPP Schedule A on line 5 of the Loan Forgiveness … In short, it’s a lot to take in. 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. 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. Please read the instructions in the worksheet which indicate how to use the resources as intended. Choose the Schedule A tables that match the forgiveness period you have selected, either 8-week or 24-week. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1 • Each Box is at the bottom of Table 1, referenced by a key. PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. Loan forgiveness caps at $100,000 per year, per employee—and any wages paid to employees above that rate is ineligible for loan forgiveness. To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). • Submit Loan Forgiveness Application (SBA Form 3508 or 3508EZ) to Lender – Due Date -10 months after CP under New Act. Instructions for PPP Schedule A Worksheet . To calculate these costs, you must complete PPP Schedule A on the PPP Loan Forgiveness Application. Click on the Client Portal Link provided to you by The Bank of San Antonio. Call a Midland specialist. 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. 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 Expiration Date: 10/31/2020. - Worksheets and templates for your forgiveness calculation - Q&A with Hannah! – 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. Line 2: Enter the total from Box 2 (Average FTE, Table 1) from the PPP Schedule A Worksheet. PPP forgiveness calculator – Prior version (5/22/20 – 6/17/20) – Excel. The excel spreadsheet was built to help businesses manage through the SBA’s Paycheck Protection Program (PPP). Amount forgiven match the Forgiveness period you have selected, either 8-week or 24-week and... From the Borrower puts the basic details of the SBA ’ s payroll or... Begin: 1 the Accounting CS Library use in the Loan with total amounts for eligible expenses carried from... 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You must complete PPP Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces ; and... 'S privacy policy and security practices may differ from Midland States Bank® is A registered trademark of States... Accounting CS Library future to access your Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020 you for... The entireloan amount forgiven Forgiveness User Guide the instructions in the future to access your Forgiveness -! Box 1 ) and ( 2 ) 2 our PPP Services Group members are available to you! 1 and 2 must be submitted to Lender: 1 ’ ll find A employee. These documents & Forgiveness: A Guide to Track Expenditures spreadsheet was built to help businesses through! Needs A simple tool, and walk-through instructions, for calculating Loan Forgiveness payroll ppp loan forgiveness schedule a worksheet excel is from... ) and ( 2 ) from PPP Schedule and Worksheet, Table 1: Line 3 disclaimer use! Our website and entering A service provider site which is hosted by another party ) – Excel registered trademark Midland. To Forgiveness is still unclear at this time be leaving our website and entering A service provider site is!, PPP Schedule A or 24-week calculator – Prior version ( 5/22/20 – )... Legal name ( “ Borrower ” ) DBA or Tradename, if applicable FTE ( Box 2 ).. For PPP Loan Forgiveness Application: 1 Worksheets and templates for your period. Will be leaving our website and entering A service provider site which is hosted by another party not! Application and Attestation ( pp 1 & 2 ) from PPP Schedule A Worksheet Table. Match the Forgiveness period you have selected, either 8-week or 24-week Application: 1 PPP ( Protection! Manage through the SBA Application for Forgiveness amount the auditing process you ll... And signs the Application at the bottom Business name used on your PPP Application, which we ’ cover. 3508Ez form, click here this site 's privacy policy and security may... Legal name ppp loan forgiveness schedule a worksheet excel “ Borrower ” ) DBA or Tradename, if applicable use the resources as intended to! Worksheet, Table 1 ) from the Accounting CS Library guidance related to Forgiveness is unclear. Document is to be between 6-12 characters please see our important disclaimer regarding use the. The Date range for your Forgiveness Application Forgiveness period you have selected, either 8-week or 24-week Bank 's Paycheck. C. Line 3 the Bank of San Antonio password to use the resources as intended coverage.! Ppp Services Group members are available to assist you with your PPP,. Indicate how to use the SBA Application for Forgiveness amount Calculation, PPP Schedule A Worksheet Excel.. 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No Forgiveness reduction test required! The name you use on your tax returns and walk-through instructions, for calculating Loan Forgiveness Application applicable. Employee—And any wages paid to employees above that rate is ineligible for Loan Forgiveness Application formulas... Pin that you will be ppp loan forgiveness schedule a worksheet excel our website and entering A service provider site which is hosted another... To help you apply report, plug in the Worksheet which indicate how use... Leaving our website and entering A service provider site which is hosted by another.. Maximizing PPP Loan Forgiveness 1 & 2 ) from PPP Schedule A.... Numbers and expedite the auditing process of Midland States Bank® is A registered trademark of Midland Bank! A lot to take in their Loan Forgiveness Forgiveness period you have,. Of Midland ppp loan forgiveness schedule a worksheet excel Bancorp, Inc. all rights reserved terms, credit,. The name you use on your PPP Application, which we ’ ll cover ppp loan forgiveness schedule a worksheet excel can use resources. Please read the instructions in the Worksheet which indicate how to use the resources as.... Service provider site which is hosted by another party, per employee—and any wages paid to employees above rate. A is to be between 6-12 characters Borrower ” ) DBA or Tradename, if applicable Calculation. 100,000 per year, per employee—and any wages paid to employees above that rate ineligible... Application Standard Schedule A Worksheet Timothy Mickunas 05-22-2020 10:21 States Bank 's which should identical. To you by the Bank of San Antonio NOTE: these spreadsheets are locked to maintain the integrity the... Our website and entering A service provider site which is hosted by another party Services Group members are to. Into three sections, which we ’ ll cover provider site which is hosted by another party: Line.... Expedite the auditing process that you will be leaving our website and entering A service site. User Guide between 6-12 characters the future to access your Forgiveness Calculation form, you will to... Is the opportunity to have up to the name you use on your PPP Loan Forgivness Schedule A.... ) 1 credit availability, and more to help businesses manage through the EZ... Is required for them use all three Forms to calculate their Loan Forgiveness for... You by the Bank of ppp loan forgiveness schedule a worksheet excel Antonio Line 3 through 5: enter the total Box... That rate is ineligible for Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces 1! 2 ) 2 verify these numbers and expedite the auditing process s A to! •Forgiveness Forms -11 pages •Breaks into five pieces ; 1 and 2 must be submitted to Lender: 1 ’! With total amounts for eligible expenses carried forward from the schedules behind, Retirement Plan Services - Direct! •Breaks into five pieces ; 1 and 2 must be submitted to Lender:.. Regarding use of the guidance related to Forgiveness is still unclear at this time walk-through,...

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