Goodness gracious great balls of fire!
-Jerry Lee Lewis
Yay you’ve received your money from the Paycheck Protection Program!
Document, document, document! Save a literal paper trial of documents that you’ve received- hard copies and virtual!
Keep an excel spreadsheet to track and update weekly, at a minimum.
Put the money into separate bank and GL accounts.
There are still many questions around all this. The best we can do is to diligently track all that you do following receipt of the loan!
Jordan Ilderton, CPA