How to Retrieve Payroll Information for SBA Loans
April 9, 2020
Step-by-step Guide for Retrieving Payroll Information for SBA Loans
We have been inundated with requests for payroll information for those clients looking to apply for the Payroll Protection Loans available through the SBA. The applications for these loans will be available from your bank beginning April 3rd.
Based on the most recent information we have received from a number of sources, payroll costs are defined as all wages (with the exception of wages exceeding $100,000), payments required for the provision of group health insurance and payment of any retirement benefits, and state and local taxes assessed on compensation. Please be aware that information about this program has been extremely fluid and we encourage everyone to consult their CPA and/or Banker when competing the SBA application. BizChecks Payroll makes no represenation that this definition is final.
Please see our directions below to access a report containing payroll cost information for 2019. This report will be available to you beginning Thursday morning at 10am. if you need help accessing your online portal, please contact your BizChecks customer service representative.
Accessing YTD Register with Employer Taxes for SBA Loan
- Log into your payroll account
- On the bottom left side of the screen select the “Reporting” tab
- Select “Client Reports”
- In the search option type “YTD” then select “filter”
- Select the YTD Register with Employer Taxes – by payroll run report
- In the “Payroll” option drop down found to the right of the screen navigate to the last payroll dated in 2019
- On the blue action bar found at the top of the screen select “generate report”
- Next select “Go to my reports Queue”
- Select “view report”
The figures provided in this report will include wages for employees making over 100k. For these employees, the wages must be backed out from the totals. Once this is complete, the total figures can be divided by 12 to generate a monthly average to report to your bank.
***Applications will be completed and funds issued through your bank and are not yet available. Please consult with your bank for details.