In order to apply for the Paycheck Protection Program (PPP), an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis, you will need to calculate your payroll costs correctly. Paycheck Manager can help with that.
If you are new to Paycheck Manager, sign up for an account today. Once you have a pay period in the system, you can download the following reports to obtain the payroll information you need to complete the proper calculation.
- Payroll summary (PDF) – summary of gross wage and taxes for the period selected
- Payroll Journal (PDF) – List of all paychecks with gross wages and taxes details
To do download the above reports, do the following:
- Once logged in, at the top navigation, go to Paychecks > Search/View/Edit Checks
- Click the Export button
- On the Export Report page, enter a date range, then click the Generate button to generate the PDF reports of the Payroll Journal and the Payroll Summary Report.
This will provide you the necessary information to calculate your payroll costs. In additional to wages paid to employees, you may add payments for benefits, including health insurance premium, etc.
You should still discuss with your bank/loan processor to calculate payroll costs correctly for the Paycheck Protection Program loan.
About PCM
Paycheck Manager is a complete self-service payroll management tool for any business manager who wants to prepare, view, and print paychecks, payment vouchers, and payroll reports. All information is saved in our secure environment for easy payroll management. Try Paycheck Manager payroll software for free for up to three months at www.paycheckmanager.com.
About C&S Technologies
C&S Technologies, Inc. has been providing small businesses throughout the nation Free payroll calculator, IRS authorized payroll eFiles (941, 940, e.g.) and business payroll and tax services since 2000. The Silicon Valley-based company offers six business payroll management solutions that allow business owners and managers to choose which specialty services suit their individual needs, including eSmartPaycheck.com, PaycheckManager.com, SimplePayroll.com, w2manager.com, 1099manager.com, and eSmartPayroll.com.