FREE PPP Forgiveness Calculator

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You will get a downloadable file with this product.
Skytale Group is offering a FREE PPP Forgiveness Calculator to help you calculate your dollar forgiveness amount from your PPP Funds. Below are some suggestions as you start accounting for this:

1) Set up a separate checking account for your PPP Funds. This will ease tracking.

2) When you run payroll, send accounting (or whomever is responsible for tracking) the payroll journal. That person should work with you to calculate the amount to transfer from the PPP account to the operations account. Save that documentation of the payroll journal and the calculation in a separate folder to later provide to the bank. 

3) Reimburse rent from the PPP account to the operational account. Save the lease and a copy of the transaction (some sort of proof) in your separate folder. 

4) Reimburse utilities from the PPP account to the operational account.  Save the invoices in the separate folder. 

5) As you go, maintain a spreadsheet in the separate folder that lists the amount of each transfer, the date the transfer was made, and what it was for.  Review the spreadsheet together to ensure you are in the 75% / 25% ratio on a regular basis possibly after each payroll run or before you pay rent).

6) Accounting then will likely need to track these amounts in the books.  

7) Accounting may consider classing everything PPP related for ease of separation if needed.

When you download the free PPP Forgiveness Calculator, a Skytale team member will reach out to you to further help determine what you can do to account for funds and answer any questions.
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