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

In the webinar, it was stated that one of the baseline periods for the FTE Reduction Factor is February 15 through June 30, 2019. Are you saying this is 24 weeks? This is actually only 20 weeks. 24 weeks would be February 15 through July 31, 2019.

Posted by Armanino Financial Advisory Team

You are confusing different aspects of the program. If you elect it, the 24-week feature relates only to the amount of time in 2020 in which to spend your PPP loan funds. The 24-week time frame does not factor into any other calculations, including the FTE Reduction Factor. The baseline period stated for 2019 is correct.

« | »