August 4, 2020
I read in the FAQ that I should enter 80 hours for my salaried employees since we pay biweekly and not leave the field blank. However, my payroll company reports only include hours worked for hourly employees, so I end up with a Checksum error because of all the extra hours for the salaried people. What should I do?
Posted by Armanino Financial Advisory Team
To eliminate the Checksum error, simply add the total hours of the salaried employees that were not listed on your payroll report to the sum on that report and enter that number in the Forgiveness Calculation Model. For example, if your report shows you paid hourly employees 500 hours in a given pay period, but you also had 5 salaried employees for whom you’ve entered 80 hours each, add these 400 salaried hours (5 times 80) to the 500 hourly employees’ hours and enter the result (900 hours) in the Excel model. The bank reviewer will be able to quickly see what you have done and understand the logic.