This video shares some ideas for you to consider on how you can keep track of the expenses you incur relating to your Paycheck Protection Plan (PPP) loan proceeds. It also shares some ideas on how to record the actual loan itself and any forgiveness of the loan down the line.
While the video is done using QuickBooks Online (QBO), the same concepts could work in other accounting software as well.
For more information on my QuickBooks and Part-Time CFO consulting practice, please visit - www.BetterBottomLine.com
DISCLAIMER: These are ideas only. Please get guidance on your specific situation from your outside accountant and/or tax advisor.
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