Any FTE reductions in these cases do not reduce the Borrower’s loan forgiveness. The PPP Schedule A Worksheet The (optional) PPP Borrower Demographic Information Form It also explains that all Borrowers must submit (1) and (2) to their Lender. PPP Schedule A Worksheet, Table 2 Totals Line 4. Owners will go on a separate table – they can not be included in either of these tables. 3. www.postschell.com Hypothetical Situation • For the purposes of this presentation, the following was … PPP Schedule A Worksheet: At the time you apply for loan forgiveness, you will need to complete this worksheet, or have documentation from your payroll software or payroll provider that will contain this information. 12. Calculate payroll cost as instructed in Form 3508 (PPP Schedule A Worskheet – 1 and 2); For a list of eligible expenses reference pg. For more specific guidance, please consult with your lender. This will place the identified employee(s) in table 2 of the SBA forgiveness application and exempts the employee(s) from the salary reduction calculations.Note: The SBA is not asking for which employees actually made $100,000 or more. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million: Check if applicable. Any terminated employees who during the Covered Period or the Alternative Payroll Covered Period (a) were fired for cause, (b) voluntarily resigned, or (c) voluntarily requested and received a reduction of their hours. PPP Customer Forgiveness Guide . PPP Schedule A Worksheet, Table 2 Totals Line 4. What if I want to use my PPP loan for other expenses? When you run the report, plug in the date range for your coverage period or alternative coverage period. As a result, you may see some simplified calculation FTE values of other than 1.0 or 0.5. PPP Forgiveness Application and Attestation (pp 3 & 4) 1. An employee working 40 hours or more will be 1.0 FTE. www.postschell.com Introduction • Post & Schell, PC’s Loan Forgiveness Tool is comprised of eight excel tabs: Forgiveness PPP Schedule A PPP Worksheet Table 1 PPP Worksheet Table 2 PPP Salary Reduction Step 1 PPP Salary Reduction Step 2 PPP Salary Reduction Step 3 Employee Worksheet • Highlighted cells on worksheets are to be completed by Calculate Salary Reduction. Line 2. If you have any orange-highlighted employees in this area, you will need to click on them to validate your selection before you can proceed. The calculation is based on each individual employee who is employed during the Covered Period (or the Alternative Covered Period) and who received compensation in 2019. PPP Schedule A Worksheet or its equivalent and the following: a. The information in these materials should not be considered legal, accounting, investment or fiduciary advice. FTE Reduction Exceptions. Specific instructions for Schedule C, Schedule F and Schedule K-1 tax filers: If you filed (or will file) a 2019 IRS Form 1040 Schedule C or Schedule F, you must upload it with your supporting documents. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. If you have received a Paycheck Protection Program loan, you must complete PPP Loan Forgiveness Application if you want your PPP Loan to be forgiven. column. Please note that this site's privacy policy … Each lender has some discretion in how they will administer forgiveness. PPP Schedule A Worksheet or its equivalent and the following: a. How to Complete the PPP Loan Forgiveness Application. In the next step, all employees set as "Full Time" will be counted as 1 FTE while "Part-Time" employees will be calculated using your specified method (regular or simplified). All Rights Reserved. completing PPP Schedule A, line 11. If you paid all of your employees at least 75% of their average salary or hourly wage, check … The borrower should refer to the “Salary/Hourly Wage Reduction” section under the “Instructions for PPP Schedule A Worksheet” in the PPP Loan Forgiveness Application Instructions. Learn more in our COVID-19, Any terminated employees who you made a good-faith, written offer to rehire during the Covered Period or the Alternative Payroll Covered Period which was rejected by the employee; and. PPP Schedule A PPP Worksheet Table 1 PPP Worksheet Table 2 PPP Salary Reduction Step 1 PPP Salary Reduction Step 2 PPP Salary Reduction Step 3 Employee Worksheet • Highlighted cells on worksheets are to be completed by you. Instructions for PPP Schedule A Worksheet Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. If you are applying for forgiveness just based on owner’s compensation replacement (and not including other nonpayroll expenses) the SBA states that the 2019 or 2020 Form 1040 Schedule C that the borrower provided at the time of the PPP loan application must be used to determine the amount of net profit allocated to the owner for the covered period. Scan and save your supporting documentation and worksheets as PDFs. The instructions for PPP Schedule A Worksheet provide detailed steps to calculate any wage-based reduction to forgiveness. b. Enter your state and local general sales taxes paid on specified items, if any. Check One: Check “Self-Employed Individual” if you are not incorporated. Get familiar with the spreadsheet. Instructions for PPP Schedule A Worksheet . Employee’s Name: Separately list each employee. Instructions for PPP Schedule A Lines 1 through 5: Enter the amounts from PPP Schedule A Worksheet Tables as directed. PPP loan: calculate average monthly payroll with the Worksheet 1. The PPP Loan Forgiveness Calculation Form; PPP Schedule A; The PPP Schedule A Worksheet The (optional) PPP Borrower Demographic Information Form It also explains that all Borrowers must submit (1) and (2) to their Lender. All employers should evaluate if their company meets the safe harbor exemption requirements prior to completing their loan forgiveness application. 15. 2. Instructions for PPP Schedule A Worksheet Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. To first complete your $100,000 validation, click 1. Table Instructions . 2 “Summary of Costs Eligible for Forgiveness”, section outlined in Loan Forgiveness Application Instructions for Borrowers Calculate full-time equivalency (FTE) for loan forgiveness by referencing pg. If you are established as a different entity, check the appropriate box. PPP Schedule A Worksheet ... • Pages 7 through 9: Schedule A Worksheet and Instructions (this is what you complete first if you have employees). If needed, you can override any of the inputted data using the Override fields. The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing this guidance to assist businesses in calculating their payroll costs for purposes of Completing PPP Schedule A (continued) (Instructions Page 3) • Line 10 – Math • In Between Line 10 and Line 11 – 3 FTE Safe Harbors – including a new one • Line 11 – FTEs from either 2/15/19 to 6/30/19 or 1/1/20 – 2/29/20 • Line 12 – Math • Line 13 – Math OR 1.0 if Safe Harbor is met. PPP Schedule A Worksheet Instructions This template contains formulas that will automatically calculate any potential reductions to your loan forgiveness amount based on changes in your payroll and/or the SA’s maximum allowable amounts paid to employees in excess of … column. Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary. Line 1: Enter the amount in Box 1 (Cash Compensation, Table 1) from the PPP Schedule A Worksheet. Launch the PPP Forgiveness module. If all the employees cannot fit on these tables, please utilize the PPP Schedule Credit subject to Bank terms, credit availability, and limitations. HOW TO CALCULATE MAXIMUM LOAN AMOUNTS – BY BUSINESS TYPE . Instructions for PPP Schedule A Worksheet . Line 4. Also DO NOT include anyone who received an annualized pay rate of more than $1000,000 in 2019. If all your employees were paid at least 75% of their original pay (between January 1 and March 31), check the box and enter 0. Instructions for PPP Schedule A . 7. After this, review your list of employees to ensure all employees who worked 40 hours or more are identified as "Full Time". Navigate to the Schedule A Worksheet at the top of the page. ... PPP Schedule A Worksheet or its equivalent and the following: Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary. Once completed, click Add Calculations to Schedule A to return to the main menu. 1. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: Line 5. (For example, to enter employer-paid health insurance premiums that were not recorded in payroll. Page 3: Schedule A. Self-employed individuals without payroll can skip lines 1 through 8. 11. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: Non-Cash Compensation Payroll Costs During the Covered Period Line 6. How to Complete Your Schedule A Worksheet. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1 c. Line 3. To validate, check the box for each highlighted employee to verify your selection of any employees with an annualized rate of $100,000 or more. Then, click Add Calculations to Schedule A. Schedule A worksheet instructions (pp 7-8) 4. Do not include any independent contractors, owner-employees, self-employed individuals, or partners. PPP Schedule A Worksheet: To fill out the PPP Forgiveness Calculation Form, begin by filling out the Schedule A Worksheet. Can calculate part time employees one of two ways: (screen shot on next page) • To make edits on this worksheet, export to XLSX or CSV and you can modify it with your spreadsheet program. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: Line 5. Documentation supporting certifications that the business was unable to operate to full capacity because of guidance or regulations issued by HHS, CDC or OSHA from March 1, 2020 to December 31, 2020 related to Covid safety. The instructions for PPP Schedule A Worksheet provide detailed steps to calculate any wage-based reduction to forgiveness. Line 3: Enter the total from Box 3 (Salary/Hourly Wage Reduction) from the PPP Schedule A Worksheet. Midland States Bank® is a registered trademark of Midland States Bancorp, Inc. Below your list of employees is a list of all of your check dates in each of the look-back periods the SBA has specified. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. Do not include any independent contractors, owner-employees, self-employed individuals, or partners. Table Instructions . Alternatively, you may manually complete the SA’s Schedule A Worksheet or provide a comparable report from your PA or third party payroll provider. This instruction page will walk you through the steps required for the forgiveness process: ... PPP Schedule A Worksheet or its equivalent and the following: Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary. Employee’s Name: Separately list each employee. PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Complete all information on Employee Worksheet. You may want to rush through filling out the worksheet since SBA lenders are accepting applications on a first-come, first-serve basis. After adding your FTE calculation to Schedule A, click on 5. From the worksheet, Box 4. You can change this by clicking the employee's status to reveal a drop-down menu. Schedule A Worksheet Instructions for Excel Template Banner Bank created this Excel template to help you complete your application for Paycheck Protection Program (PPP) loan forgiveness. b. The PPP Loan Forgiveness Calculation Form and Schedule A are two of them. Add lines 1, 6, and 7. . From the worksheet, Box 1. Schedule A worksheet (p 9) 1. From here, select if you would like to use a Regular or Simplified FTE calculation method to identify full-time equivalent employees (FTEs).Note: The SBA has defined Full Time as employees who work 40+ hours per week or 8+ hours per day for the purposes of your forgiveness application (even if your organization defines this differently). Documents Required with Submission and Documents to Retain (p 10) 5. Schedule A instructions (p 5) 3. Schedule A worksheet instructions (pp 7-8) 4. Navigate to the Schedule A Worksheet at the top of the page. Line 2: Enter the total from Box 2 (Average FTE, Table 1) from the PPP Schedule A Worksheet. INSTRUCTIONS . 1. SBA. Typically, employers do not need to make any changes here. Instructions for PPP Schedule A Worksheet Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. Do not include any independent contractors, owner-employees, self-employed individuals, or partners. The borrower should refer to the “Salary/Hourly Wage Reduction” section under the “Instructions for PPP Schedule A Worksheet” in the PPP Loan Forgiveness Application Instructions. PPP loan: calculate average monthly payroll with the Worksheet 1. Lines 1 through 5: Enter the amounts from PPP Schedule A Worksheet Tables as directed. Page 4: PPP Schedule A Worksheet. SBA PPP Forgiveness Portal Instructions. Total of 5 months. Use of this template is optional. ... PPP Loan Forgivness Schedule A Worksheet. application ) and the PPP Schedule A Worksheet pages (Pages 4 of the application ). Please read through this carefully so you understand the documentation required. Because the Schedule A worksheet doesn’t apply to you, Lines 1 – 8 on the PPP Schedule A won’t apply to you either. Check if applicable to you. Do not include any independent contractors, owner-employees, self-employed individuals, or partners. Line 1. PPP Schedule A -Worksheet Those making less than or equal to $100,000 for all pay periods in 2019 will go in Table 1. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1 • Each Box is at the bottom of Table 1, referenced by a key. 2. 3. Next, click on 3. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: Non-Cash Compensation Payroll Costs During the Covered Period or … $ 8. DO NOT include anyone who does not live in the United States, any independent contractors, yourself, or your partners. Note: The PPP program exempts Borrowers from such reductions if any of three FTE Reduction Safe Harbors apply. They are only requesting that you identify the employees who were paid at a rate that, if annualized, would total $100,000 or more at any time during 2019. SBA Instructions. Application instructions (pp 1 & 2) 2. Line 2. 1. Documentation supporting PPP Schedule A Worksheet “FTE Reduction Safe Harbor". Please note that this site's privacy policy … 2019 $100,000 Validation. a single manual check), and this should not be a reason for concern. – Submit PPP Schedule A and Substantiation – Lender has 60 days to review and make a decision; SBA has another 90 days after that. 2 “Summary of Costs Eligible for Forgiveness”, section outlined in Loan Forgiveness Application Instructions for Borrowers Calculate full-time equivalency (FTE) for loan forgiveness by referencing pg. Worse, it tends to jump around. Filling out the Worksheet: 7 its equivalent and the Schedule A Worksheet or its equivalent and PPP! An equivalent report from the PPP Schedule A Worksheet “ FTE Reduction Harbors... Not include any independent contractors, owner-employees, self-employed individuals, or.. A lines 1 through 5: enter the amounts from PPP Schedule A, and in... 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It includes instructions on how to fill out their Calculation Form, Schedule A lines 1 through 5: the! On your payroll during the Covered period ( or alternative period ) checked off in the Worksheet indicate! By clicking the employee 's status to reveal A drop-down menu: Optional Borrower Demographic Information.. 4 ) from the PPP Schedule A Worksheet “ FTE Reduction ppp schedule a worksheet instructions Harbor '' as. ( together with affiliates, if ppp schedule a worksheet instructions ) received PPP loans in excess $! Worksheet, Table 1: line 3 system has defaulted several codes in each of the Page alternative coverage.! The number of payrolls worked out of all payrolls considered has specified and warnings that need. Retain ( p 10 ) 5 verify that all salaried employees are off! Validation, click 1 Forgiveness amount Calculation: you can complete your $ 100,000 in 2019 will go A!
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