Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

July 23, 2020

For “Employees at Time of Loan Application” or “Employees at Time of Forgiveness Application,” are we supposed to include furloughed employees in this figure? What about people hired or laid off after the last day of the Covered Period?

Posted by Armanino Financial Advisory Team

You should not include furloughed employees in either cell. That said, the SBA is asking for this data only as an indicator of your eligibility to apply for a PPP loan originally; they did not ask either of these when you applied. The data you enter for these two items does not factor into any calculation for forgiveness, so it’s okay if it’s not 100% accurate.

« | »