Mm gonna try with a little help from my friends. -The Beatles
You may be in the processing of paying employees with your PPP Loan and tracking those funds. Pinnacle Bank sent out a wonderful spreadsheet to assist with tracking!
If you’re aiming for debt forgiveness be sure to spend 75% on payroll costs and the other 25% for mortgage interest, rent, and utilities.
The funds must be spent within an eight-week period starting the DAY you receive them! Please keep the spirit of the law in mind by using the funds to help your business maintain employment and pay essential obligations.
Use every documentation tool you can find and, as always, contact me if you have questions!
Jordan Ilderton, CPA[embeddoc url=”http://www.ildertonbookkeepingllc.com/wp-content/uploads/2020/05/ppp-loan-disbursement-control-sheet-1-1.xlsx” download=”all” viewer=”microsoft”]