ADP Simplifies CARES SBA PPP-Monthly Payroll Cost Report
I wanted to share an email that ADP sent out to its customers since my CFO said that this one piece of information has simplified and clarified what small business can apply for when the application window opens up. The reports shows the Payroll Earnings and Payroll Costs numbers. There is some debate on which number to use for the application (Earnings or Costs). We also believe that the proper date range in April 1, 2019 - March 31, 2020.
This is what we got from the ADP Automated Reporting Tool:
So read on, and if you are an ADP customer, getting the proper numbers is easy!
ADP Email Starts Here
I’m getting a lot of questions about the CARES Act report we put out. I hope the below explains a little bit more to clarify what is involved.
Also, the CARES SBA PPP-Monthly Payroll Cost Report can be found from the RUN home page, by clicking Reports> Payroll> CARES SBA-PPP: Monthly. Below I’ve included a breakdown of each column and the calculation used to determine the Payroll Cost. I hope this information is helpful.
The report includes a 12 month look-back period.
The following information is excluded from the report based on the Legislative requirements:
- Employee wages exceeding $100K
- For an employee with over $100K in gross wages, in the month they reach that amount the excess wages are not included in the report going forward.
- As well, the applicable taxes and deductions that correspond to the excess wages are excluded
- Any 1099 or seasonal business
- Workers' Compensation premiums, stock compensation, independent contractors
If the client was not with ADP for the full period selected in the report, they may need to obtain data from their prior provider or own records.
As with other reports in RUN, there is the option to Print Report or Export To Excel. Print Report allows the client to save the report as a PDF file.