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PPP loan forgiveness and third-party providers

PPP loan forgiveness - the banks require either Bank Statements, or Payroll reports from a "Third-Party Provider". My question is, QB's Desktop payroll that I use considered a "third-Party" provider.

providing bank statements doesn't seem correct, in that the bank only shows net amounts of checks. So Can I use my QB's desktop payroll reports as verification of payroll paid?

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Best answer August 06, 2020

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QuickBooks Team

PPP loan forgiveness and third-party providers

Good day to you, @maidbcap.


QuickBooks Desktop (QBDT) payroll is an add-on service of your software. And yes, you can use your payroll report for the verification of your PPP loan forgiveness. Let me show you how to run the report in your QBDT software.

 

Here’s how:

  1. Go to the Report menu.
  2. Select Employees and Payroll.
  3. Click Payroll Summary.
  4. Adjust the date range if appropriately.
  5. Then select Create New Worksheet from the Excel drop-down menu to export the report to Excel. 1.JPG

You can also check these articles for more details about running your payroll reports and exporting it to excel:

Once done, you can submit the report for PPP loan verification. To learn more about the workflow in applying for PPP loan forgiveness, check out these links for reference:

You can always leave a reply if you have follow-up questions about your loan. I’ll be more than happy to assist you.

View solution in original post

3 Comments
Highlighted
QuickBooks Team

PPP loan forgiveness and third-party providers

Good day to you, @maidbcap.


QuickBooks Desktop (QBDT) payroll is an add-on service of your software. And yes, you can use your payroll report for the verification of your PPP loan forgiveness. Let me show you how to run the report in your QBDT software.

 

Here’s how:

  1. Go to the Report menu.
  2. Select Employees and Payroll.
  3. Click Payroll Summary.
  4. Adjust the date range if appropriately.
  5. Then select Create New Worksheet from the Excel drop-down menu to export the report to Excel. 1.JPG

You can also check these articles for more details about running your payroll reports and exporting it to excel:

Once done, you can submit the report for PPP loan verification. To learn more about the workflow in applying for PPP loan forgiveness, check out these links for reference:

You can always leave a reply if you have follow-up questions about your loan. I’ll be more than happy to assist you.

View solution in original post

Highlighted
Level 1

PPP loan forgiveness and third-party providers

I have a question - I have the forgiveness application filled out I have my payroll report for QB - now how or who do i submit the inform too?

 

 

Highlighted
QuickBooks Team
QuickBooks Team

PPP loan forgiveness and third-party providers

Let me guide you on how to submit your Paycheck Protection Program (PPP) loan forgiveness, ctrconcretecontractor.

 

You can submit the PPP Loan Forgiveness Application to your lender or the lender servicing your PPP loan. If you received a PPP loan within QuickBooks Capital, visit the PPP Center.

 

As long as you used all of the loan proceeds for which you are requesting forgiveness, you may submit your forgiveness application before the end of your Loan Forgiveness Covered Period. 

 

 

Here's how:

 

  1. Go to this site: Paycheck Protection Program.
  2. Click the Sign In drop-down to visit the PPP Center.
  3. Choose the QuickBooks program you're using.
  4. Sign using your login credentials.

Once you're able to sign in, you can get a loan forgiveness estimate, and access your loan agreement, payroll, and non-payroll reports. 

 

Then, make sure to use all the loan proceeds for which you are requesting forgiveness. Once you submit your application for forgiveness, the lender will have 60 days to accept or deny your application.

 

For more details about this one, check out the Paycheck Protection Program loan forgiveness article. 

 

I have articles here for more insights about PPP loan:

 

 

Assistance is just a post away if you need anything else in running your business in QuickBooks. I'm always here to help. 

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