PPP Loan Forgiveness for the Second draw

Thanks for reaching out to the Community space, Danj25. 

Let's try checking if QuickBooks is up-to-date with our latest payroll release to run the PPP Forgiveness Payroll report for the second draw loans. Here's how:

1. In the top menu bar, go to Employees.
2. Choose Get Payroll Updates.
3. Tick your Download Entire Update checkbox.
4. Select Download Latest Update.

You'll also want to make sure you're using our latest release. Then, a notification window will be displayed once it's complete. Then, access the PPP Forginess report again by going to the Reports menu at the top. Then, at the bottom, select the PPP report you want to open. To know more about the reports available, see the below links:

• Learn how to download your Payroll Costs for the PPP Loan Forgiveness Determination report
• Understanding your QuickBooks Desktop Cash compensation report for PPP Loan Forgiveness

If the same thing happens, I recommend contacting our representatives by connecting with us to the PPP Center area of your QuickBooks Desktop. Then, select Live Chat, and our chat support will help you with your concern. I also encourage our Microsite to stay current with our latest news and updates about PPP.

If you need other helpful articles in the future, you can always visit our site: Help articles for QuickBooks Desktop.

Feel free to drop a comment below if you have any other questions when running the PPP report. or any QuickBooks related. I'll be here to ensure your success. Have a good day.

End does not let you change the end date to get the data needed for the 2nd draw report.  It says end date cannot be later than the distribution date.  My distribution date was March 11, 2021.  Please help as I need to get my information turned in for the forgiveness.  

I have already downloaded the most up to date Full payroll update.

Hello chichi25,

Thank you for chiming in on the thread. For this situation, I recommend reaching out to our Customer Support Agents to investigate further if it is possible to receive the necessary information seeing that the distribution date is passed. 

1. Go to the Help menu and select QuickBooks Desktop Help. 
2. Click the Contact us link.
3. Enter a brief description of your concern. 
4. Click Continue.
5. Select a way on how to connect us. It can either be through call or chat. 

You can always post your questions here if you need more help. Please keep me updated on how the conversation goes. I hope you have an awesome day! 

The distribution date is current - your window only allows data of the previous year not current.  You need current for the 2nd distribution.

quickbooks NEEDS to get their act together on the 2nd PPP forgiveness reports!!!!!!!!

Come on QB this is ridiculous, you KNOW there's a problem FIX IT

Absolutely!  The reports are due for many of us and QB's is not allowing us to update for our needs.

Had anyone received information on when QB is going to fix the reports so that you can generate the second draw forgiveness loan report?

We haven't received any update about the latest report to use for the second draw of loan forgiveness, LindaU.

Right now, you can run the Cash compensation report to see if amounts are eligible for forgiveness. To learn which payroll costs are eligible, you can review this article: Paycheck Protection Program (PPP) loan forgiveness.

Also, you need to know what includes in a PPP payroll report. Please visit this link for additional guidance: How to create a payroll report for PPP loan forgiveness.

To identify what includes in the Cash compensation report for PPP Loan Forgiveness, you can consider checking out this link: Understanding your QuickBooks Desktop Cash compensation report for PPP Loan Forgiveness.

Let me know if there's anything else you need aside from getting the information about the forgiveness loan report. I'll be right here whenever you have follow-up questions about this.

nothing that i've seen and i have spent an hour looking - same BS from CS

Any update on when we can expect QB to have the second draw PPP forgiveness process ready? I need to submit but I'm not sure how to do it. The first PPP forgiveness process was simple and worked perfectly. Why is there a delay on the second PPP forgiveness process through QB?

Thanks for chiming in on this thread, serpej.

I'll share some information about your concern.

If you’re eligible for our program, you can apply for a Second Draw Paycheck Protection Program loan within the QuickBooks Capital.

Before doing so, please make sure you have the correct info for the following:

• Bank routing and account number. This is to transfer the loan amount to your bank account if you're approved and receive the Second Draw PPP loan.
• Social Security Number of the person(s) applying and all owners who own 20% or more of the applicant. You will need to be the Master admin for your company's QuickBooks account.

To apply for the loan within QuickBooks Capital, please ensure you have the latest update for QuickBooks Desktop. Note: The Payroll Protection Program application may be available for users who have QuickBooks 2019, 2018, and, 2020 editions. Check back soon for updates.

Here's how:

1. Go to Help > Update QuickBooks Desktop.
2. Go to the Update Now tab, select the Reset Update checkbox, and select Get Updates to start the download.
3. On the Update QuickBooks Desktop popup, select OK.
4. Wait about 5 minutes for updates to download to your computer.
5. When the download finishes, restart QuickBooks.
6. When prompted, accept the option to install the new release.

Then, start your application by following these steps:

1. Go to Employees > Payroll Center.
2. Select the Update application button found on the Your PPP Loan modal.
3. If prompted, sign in to your account using the Intuit Account you use for your company.
4. Click the Tell me more button, and select Continue.
5. Follow the instructions on each page to fill out, review, and complete the application.

To learn more about the process, you can read this article: Start your application for a Second Draw Paycheck Protection Program loan within QuickBooks Capital.

Please don't hesitate to leave a reply below if you have additional questions or other concerns. I'm always around to help you out. Take care and stay safe.