cancel
Showing results for 
Search instead for 
Did you mean: 
knomies
Level 2

PPP Question - Payroll Date vs Funds Withdrawal Date

Finally received PPP funds on May 1.  Yay!  Payroll date is also May 1 but funds were deducted from my bank account on 4/30 via QB payroll.  Does anyone know which date I use for tracking?   If it's considered the day funds left my account (4/30) then I lose an entire pay period from my PPP expenses.  

1 Comment
Kendra H
QuickBooks Team

PPP Question - Payroll Date vs Funds Withdrawal Date

Hi there, @knomies

 

Thanks for posting your question here. 

 

You can use the payroll expenses from that date given by the IRS, but moving forward, I recommend reaching out to an accountant if you're concerned about the dates you want to apply the loan to for your payroll. They'll be able to help you determine what's best for your books. 

 

For additional information on the PPP loan application, here are several helpful articles: 

 

Feel free to follow up with me if you have any more questions or concerns. Have a good rest of your day!

 

 

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up