Though the workbook is no longer available, the team at ARB is here to help with PPP forgiveness and other pandemic related business needs. Contact our PPP Services Group for more information.
Note: This post is no longer being updated. Please contact the PPP Services Group or your ARB team member for the most up-to-date information and guidance.
Albin, Randall & Bennett and Boyer & Ritter LLC are CPA firms who enjoy a collaborative relationship. We are happy to have worked together to create our comprehensive tool for PPP Loan Forgiveness. Since our original release, the workbook has been downloaded more than 46,000 times. The latest edition has been streamlined to simplify the calculation process, consolidated into a single workbook that’s customizable for all small business types, and modified to incorporate the latest legislative changes to the Paycheck Protection Program (PPP).
We have consolidated this tool into a single workbook containing drop down options for weekly, biweekly, monthly, and semi-monthly payroll calculations. The workbook has been modified to simplify the calculation of FTEs. Based on the data entered for the simplified or average method, the workbook chooses the best option to minimize forgiveness reductions. Additionally, the workbook includes the new FTE safe harbors.
A Summary Analysis has been included, allowing for review of the data by employee.
The data entry for payroll and non-payroll costs is set up for weeks 8 through 24 with the option to choose the week you would like to use for the forgiveness calculations, allowing you to determine the best week to maximize forgiveness.
Please note, the Tool is not a “Precision Tool.” It has been prepared using the CARES Act, the SBAs Paycheck Protection Program Loan Forgiveness Application, the PPP Flexibility Act of 2020, as well as any other relevant guidance available as of July 7, 2020. Additional guidance issued by the SBA and Treasury Department after that time may materially impact the loan forgiveness calculations. Please see the tab labeled “Significant Assumptions” for assumptions that may change as official guidance continues to be released. For actual loan forgiveness, please verify the information provided in these calculations to ensure its accuracy.
ARB’s PPP Services Group Can Help
Today’s atmosphere for small businesses is a challenging one. And we want to ease some of the burden, stress, and uncertainty. Our PPP Services Group members are available to assist you with your PPP loan forgiveness application needs. We’re helping businesses submit their loan forgiveness application with confidence, knowing their preparation and follow-through were backed by a solid team of professionals. Learn more about our services by contacting our PPP Services Group.
by Holly Ferguson, CPA and Barton Haag, CPA