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Learn how to download your Payroll Costs for PPP Loan Forgiveness Determination report

SOLVEDby QuickBooks88Updated 1 year ago

Note: The Paycheck Protection Program reopened on January 11, 2021. The SBA may issue additional guidance and we will update our resources accordingly. Please refer to the SBA and Treasury to confirm current program rules and how they apply to your particular situation.

By being a payroll customer, you’re likely to have access to the payroll information you need to help you apply for PPP loan forgiveness through your lender.

  • Before you pull your reports for your lender, be sure to check that you’ve uploaded all of your data from your loan forgiveness Covered Period into QuickBooks.
  • If you need to see how much you’ve spent on non-payroll expenses that may be eligible for loan forgiveness, you can run a PPP Non-payroll Expenses Report.

What kind of info do I need to submit to my lender?

If you’re applying for loan forgiveness, you will need various pieces of information covering your loan forgiveness Covered Period to verify the use of your PPP loan with your lender or the lender servicing your PPP loan. You’ll need to show that at least 60% of the forgivable amount is attributed to eligible payroll costs, and that no more than 40% of the funds were used on other eligible non-payroll business costs.

The following types of eligible payroll expenses are available on the report and can help you prepare to apply for loan forgiveness:

  • Salary, wages, commissions, or similar compensation
  • Additional wages paid to tipped employees, if applicable
  • Employee benefits, such as PTO, allowance for employee separation or dismissal, insurance premiums, taxes, and retirement.

Only PPP funds spent on eligible payroll expenses and other forgivable expenses during the loan forgiveness Covered Period are eligible for forgiveness . For more detailed information about PPP loan forgiveness and loan forgiveness Covered Periods, check out our Paycheck Protection Program loan forgiveness article.

Where can I find this payroll info in QuickBooks?

Here's how to get the reports you need. Follow the steps below for your version of payroll.

Where can I find this payroll info in QuickBooks?

Here's how to get the reports you need. Follow the steps below for your version of payroll.

Note: Not sure which payroll service you have? Here's how to find your payroll service.
  1. Go to Reports menu, then select PPP Forgiveness Payroll Cost.
  2. Enter the date when your PPP loan was disbursed in the Loan disbursement date field.
  1. Go to Workers, then select the Covid-19 resources tab.
  2. Under the Paycheck Protection Program section, select the report you want to run:
      • Get Payroll Costs Report for PPP Loan Forgiveness
      • Tax Cost Report

    Note: You need to run both of these reports to determine your eligible payroll cost for PPP loan forgiveness.

  3. Select Run report.

Don’t have QuickBooks Payroll?

Many Payroll providers offer reports for Paycheck Protection Program loan forgiveness. Work with your payroll provider to find the appropriate reports for PPP loan forgiveness-eligible payroll costs.

If your payroll provider does not offer a report, then refer to the latest guidance from the SBA and Treasury to calculate your eligible payroll costs.

The use of the PPP loan proceeds listed above pertain to the forgivable amount of a PPP loan, and are not the only allowable uses of a PPP loan.

Regulations and guidance from the SBA and the U.S. Department of the Treasury on the PPP are evolving rapidly and the above information may be outdated. Please refer to the latest guidance from SBA and Treasury to confirm current program rules and how they apply to your particular situation.

The funding described is made available to businesses located in the United States of America and are not available in other locations.

This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Financing Inc. (d/b/a QuickBooks Capital). does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Financing Inc. (d/b/a QuickBooks Capital)  does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers should verify statements before relying on them.

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