How do I record PPP in QuickBooks?
How do I enter the PPP loan into my deposit?Select + New.Under Other, select Transfer.From the Transfer Funds From the drop-down list, select the bank account that the funds are coming out of.From the Transfer Funds To drop-down list, select the bank account the funds are being deposited into.In the Transfer Amount field, enter the amount being transferred.More items…•.
Is QuickBooks doing PPP loans?
The QuickBooks Capital enabled Paycheck Protection Program loan application process supports certain single-owner businesses and multi-owner businesses, as well as certain self-employed individuals. … Paycheck Protection Program (PPP) loans offered within QuickBooks Capital may be made by Intuit Financing Inc.
How do I provide payroll documents for PPP?
List of required PPP application documentsIRS Form 940 for 2019.IRS Form 941 for 2019 (Please note this is a quarterly form, so you must include all four quarters unless you were established less than a year ago. … IRS Form 944 for 2019.Payroll processor records from a PEO (Professional Employer Organization)
What payroll reports are needed for PPP?
What should I include in a PPP payroll report?Employee cash compensation, including salaries, wages, commissions, or similar compensation that don’t exceed $100,000 per year.Payment of cash tips or equivalent.More items…•