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Highlighted
Level 2

Payroll Protection Loan Report

Can someone line me out in detail how to put that report needed for the payroll protection loan together?

An average monthly payroll for 2019 to current on an annualized basis for each employee.

And why cant I figure out something as easy as payroll costs per month...

All this stuff, everything, has just got me overwhelmed.

Ugh

 

Solved
Best answer April 06, 2020

Best Answers
Highlighted
QuickBooks Team

Payroll Protection Loan Report

Hi vthunder. 

 

I understand how overwhelming times like this can be for all of us. However, I'm here to help. Here's a link I'd like to give you that will help you gain some insightful information regarding the Paycheck Protection Program. Check it out:

 

- What you need to know about the Paycheck Protection Program

 

More specifically I'd like to give you some info on the application process. While the application allowing you to apply inside of QuickBooks is still being fine-tuned, the following instructions will help you apply outside the product: 

 

1. Download the application from the SBA

2. Gather the correct documentation

3. Get your information you need from payroll

 

For details and links on these steps above, be sure to visit, How to apply to the Paycheck Protection Program

View solution in original post

11 Comments
Highlighted
QuickBooks Team

Payroll Protection Loan Report

Hi vthunder. 

 

I understand how overwhelming times like this can be for all of us. However, I'm here to help. Here's a link I'd like to give you that will help you gain some insightful information regarding the Paycheck Protection Program. Check it out:

 

- What you need to know about the Paycheck Protection Program

 

More specifically I'd like to give you some info on the application process. While the application allowing you to apply inside of QuickBooks is still being fine-tuned, the following instructions will help you apply outside the product: 

 

1. Download the application from the SBA

2. Gather the correct documentation

3. Get your information you need from payroll

 

For details and links on these steps above, be sure to visit, How to apply to the Paycheck Protection Program

View solution in original post

Highlighted
Level 2

Payroll Protection Loan Report

Thank You!!!

Highlighted
Level 2

Payroll Protection Loan Report

Make sure you factor the new fees that intuit just hit us with for Covid?... not sure why... seems counterintuitive when we are guaranteeing our employees salaries.  Oh...intuit can tack on a small % to all our payroll siphoned right from our relief to Intuit.... congratulations 

Highlighted
Level 2

Payroll Protection Loan Report

Nick,

Has Intuit or QB put together required report templates similar to what ADP and others have done for their customers? if not, when can we expect it...after all money is gone and deadlines have passed? what is taking you guys so long?

 

Thanks

Highlighted
QuickBooks Team

Payroll Protection Loan Report

Thank you for jumping into this thread, shivllc.

 

We have a report where you can get the information needed for the Paycheck Protection Program loan. Let me walk you through the steps.

 

QuickBooks Desktop:

  1. Select Reports, then Employees and Payroll.
  2. Select Payroll Summary.
  3. Adjust the date range to reflect at least the last 12 months.

QuickBooks Online:

  1. Go to Reports and select the Payroll Details report.
  2. Change the report date to at least the last 12 months.
  3. In the Employee drop list, choose Summary by Employee.
  4. In the Work Location drop list, select All Work Locations.
  5. Select Run Report.
  6. In the Share ▼ dropdown menu on the top right of the screen, select Printer Friendly.

Please refer to this article for more details: Get the correct payroll report to help you apply for a loan under the Paycheck Protection Program.

 

If you have more questions about the program, feel free to go back to this thread.

Highlighted
Level 2

Payroll Protection Loan Report

What in the case where we've hired new employees for 2020, this report will not include them and not give an accurate representation of our avg monthly payroll.

Is there no way to look at Q1 2020??

Highlighted
QuickBooks Team

Payroll Protection Loan Report

Hi, BRP.

The steps to view your new employees report would follow the same steps just a small differentiation.

QuickBooks Desktop:

  1. Select Reports, then Employees and Payroll.
  2. Select Payroll Summary.
  3. Adjust the date range to reflect Q1 or January, February, and March

QuickBooks Online:

  1. Go to Reports and select the Payroll Details report.
  2. Change the report date to reflect Q1 or January, February, and March.
  3. In the Employee drop list, choose Summary by Employee.
  4. In the Work Location drop list, select All Work Locations.
  5. Select Run Report.
  6. In the Share ▼ dropdown menu on the top right of the screen, select Printer Friendly.

If there's any questions please let me know by replying below.

Highlighted
Level 1

Payroll Protection Loan Report

YOU GUYS STILL DONT GET IT   GO TO SBA  TOWN HALL THAT COMBINES WITH  INC.  TODAY'S SESSION HAD ONE OF THE  GUESTS TO MENTION A TEMPLATE THAT CAN BE USED TO DOCUMENT YOUR USE OF THE LOAN AS PAYMENT FOR PAYROLL FORGIVENESS.   YOUR ANSWER ABOVE IS ON THE APPLICATION FOR THE LOAN.   THAT IS NOT WHAT IS NEEDED  GIVE US A TEMPLATE THAT CAN USED TO DOCUMENT INDIVIDUAL ITEMS THAT HAVE TO DO WITH PAYROLL LIMITED TO THE 8 WEEK TIME FRAME

THANKS

NOLEN

Highlighted
Level 1

Payroll Protection Loan Report

Under Report Center, Employees & Payroll, Contributed Reports Use the Gross Pay Summary by Month, and run the totals from Jan 2019 to Dec 2019.

Also run, your chart of accounts detail if you offer health benefits or employer 401k contributions, but just for those accounts.

I've attached a screenshot of the calculation spreadsheet we used to apply for the loan. 

I also have a spreadsheet we use to document how the funds are being used I'd be happy to send if you'd like.

 

 

Highlighted
Level 1

Payroll Protection Loan Report

Under Report Center, Employees & Payroll, Contributed Reports Use the Gross Pay Summary by Month, and run the totals from Jan 2019 to Dec 2019.

Also run, your chart of accounts detail if you offer health benefits or employer 401k contributions, but just for those accounts.

I've attached a spreadsheet we used for the calculations to apply for the loan. 

I also have a spreadsheet we use to document how the funds are being used I'd be happy to send if you'd like.

 

 

Highlighted
Level 1

Payroll Protection Loan Report

Under Report Center, Employees & Payroll, Contributed Reports Use the Gross Pay Summary by Month, and run the totals from Jan 2019 to Dec 2019.

Also run, your chart of accounts detail if you offer health benefits or employer 401k contributions, but just for those accounts.

I've attached a screenshot of the calculation spreadsheet we used to apply for the loan. 

I also have a spreadsheet we use to document how the funds are being used I'd be happy to send if you'd like.

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