I can help you with that, Wolermon.

The forgiveness of PPP loan proceeds are be recorded as other income in QuickBooks. You can follow the steps below in setting up the account to track the funds.

In QuickBooks Desktop:

1. Go to the Lists menu.
2. Choose Chart of Accounts.
3. Select New from the Account drop-down menu.
4. Choose Other income from the Other Account Types drop-down menu.
5. Click Continue, then enter the account name and other necessary information.
6. Hit Save & Close.

In QuickBooks Online:

1. Go to the Accounting menu.
2. Choose Chart of Accounts, then, click New.
3. Pick Other Income as the Account Type.
4. For the Detail Type, select Other Miscellaneous Income.
5. Enter the account name.
6. Hit Save and Close.

In addition, here are some references that you can read to learn more about the Paycheck Protection Program loan forgiveness works in the program:

• Paycheck Protection Program loan forgiveness

• How do I prepare for Paycheck Protection Program loan forgiveness?

If you have further questions about PPP, please don't hesitate to tag me in your comments and posts. Looking forward to assisting you again.