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Join nowI'm curious what QB payroll report your going to keep for PPP loan support.
I know once we apply for forgiveness we will have to provide payroll reports, I guess I was going to use the Payroll Summary report, unless someone suggest a better one.
Hey there, PJ281.
Thanks for stopping by the Community. That's an excellent question and you're correct. The payroll summary report will be the one you want to use. Once you've received the loan and are tracking it, everything is business as usual. So when you go to apply for forgiveness, you'll want to use the regular Payroll Summary report.
If you have any other questions or concerns, feel free to post them below. we're here, night and day.
Thank you and have a nice evening.
Thanks for joining this thread, @RandyBH-PPPpayback.
I'd be happy to show you what report to run in QuickBooks Desktop for the total number of hours and the pay.
You can run a Payroll Summary by Employee report. There's a predefined Payroll Summary report in the Employee Center. You can modify it per employee and here's how:
For additional information with reports in QuickBooks Desktop, you can check out this Understand Reports article.
Feel free to follow up with me if you have any more questions. Have a good rest of your day!
I'm about to receive my PPP money, on the day I receive the money should I run a unscheduled payroll, and at the end of the 8 weeks should I run another unschedules payroll to make is easy to calculate payroll cost for the 8 week period?
Thanks
Hi TTCB,
I did not do a special payroll on the front end of our PPP (keep in mind we are very small). Instead, I assumed cash basis is good for the critical cash-flow situation and used the PPP for my first payroll, including about a week of accrued payroll. I then counted how many payrolls I would need to run until the PPP timeline ran out. At the suggestion of my banker, I'm more concerned about the end of the PPP period. It is 8 weeks after you receive the funds disbursement. So you might consider running a special payroll for the end of the period to use up any unspent PPP.
I'm not saying I did this correct but I was not concerned about the accrued payroll being applied to the PPP. Somebody around here might have a different opinion. ??
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