The SBA has released their PPP Loan Forgiveness Calculation Form, PPP Schedule A, and PPP Schedule A worksheet. Your bank may have their own loan forgiveness application, but it will likely be similar to the SBA forms. Our newly updated (v5) spreadsheet will assist you with the preparation of your payroll and expense information. The instructions are on the first tab. If you used an earlier version, you should be able to copy and paste the information from the yellow cells in the earlier version to the yellow cells in v5.
Keep in mind that you may have to adjust formulas for your particular situation, and you should make sure you understand what you are including and how the figures are calculated. A video walk-through of the spreadsheet will be posted this week.
As with all of our advice, we always include our disclaimer: we seek to provide current and accurate information about the topics presented. However, it is offered with the understanding that if you need accounting advice, you should contact an accountant who can review your situation personally and offer her or his professional advice.
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