Due to the PPP loan, we have opened a temporary bank account where the pop loan was deposited. We usually pay our liabilities with our operating account, but this time we decided to go on EFTPS portal and pay 941 using the temporary bank accounts since it is only temporary rather than change it in QB. Now, I noticed the payment schedule in QB still show pending to pay, how can I remove this? please help me.
By paying your full 941 payment due from the PPP loan bank account you did not in fact do what you thought you set out to do since the EMPLOYER SS and MEDICARE are NOT allowable payroll expenses to be paid with PPP funds for forgiveness. Unless, of course, you used two bank accounts for making the payments.
be that as it may, the proof of loan use is not tied to any one bank account and your proof is in reports, forms, and cancelled checks