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For those filing for the SBA Payroll Protection Program loan, what payroll reports are you using to submit with the application?
Thanks!
Sheilah
PC12

Sheilah wrote:For those filing for the SBA Payroll Protection Program loan, what payroll reports are you using to submit with the application?
Thanks!
Sheilah
PC12

What type of information are they asking for, that would determine the report used.

When I posted the question, they had not said any specifics, only supporting documentation. As of this morning, my bank has said Quarterly 941's and Payroll Summary Reports with corresponding bank statements. I used a spreadsheet from Vanderbloemen.com and included:
Wage & Hour Report, Account Activity Reports for Retirement & Medical Deposits, Payroll Item Summary for State, Federal, SS, and Medicare Taxes with the 941's. Hopefully this will be satisfactory.

I did not feel that any one report met all the requirements for the numbers needed. If there is one, please share so that it may make it less cumbersome for everyone else. Thanks!

Sheilah

Sheilah wrote:When I posted the question, they had not said any specifics, only supporting documentation. As of this morning, my bank has said Quarterly 941's and Payroll Summary Reports with corresponding bank statements. I used a spreadsheet from Vanderbloemen.com and included:
Wage & Hour Report, Account Activity Reports for Retirement & Medical Deposits, Payroll Item Summary for State, Federal, SS, and Medicare Taxes with the 941's. Hopefully this will be satisfactory.

I did not feel that any one report met all the requirements for the numbers needed. If there is one, please share so that it may make it less cumbersome for everyone else. Thanks!

Sheilah

As the bank stated they only need the 941s and the Payroll Summary Report, those are already available in the program. There isn't a single report as there was not a need for such, but the 941 and the Item Summary Report should suffice.

I applied for the PPP using similar reports: Wage and Hour, Account Activity for Retirement and Health Insurance Premiums paid by the church. I did not include (as our bank did not ask for it) 941's as they exclude housing allowance from Box 1 and so far the CARES Act does not specifically exclude HA from the payroll calculation. That's why I used the Wage and Hour to show HA included.

The reports that I listed must have been sufficient. We got approval yesterday after turning everything in with the revised application on Friday. I made a note on our copies of the 941's that they did not include housing allowance.

I've been watching a lot of informational Facebook Live videos and one of the main issues that seems to be coming up is the larger banks not accepting the applications or not processing very fast. We used our small(ish) community bank where we do all of our banking and they were great. Good luck everyone!

Sheilah