Payroll Protection Loan Report

Thank You!!!

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 

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

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:

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.

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??

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.

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

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.

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.

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.