July 23, 2020
If we paid non-payroll costs from our general account, can we just transfer amounts from our PPP loan account at a later date to show that PPP money ultimately paid for the expense?
Posted by Armanino Financial Advisory Team
Yes. Just remember you’ll need to show copies of the invoices paid, and evidence the cash was actually disbursed and received by a payee. Provide an audit trail from invoice to payment.