Paid Time Off for the PPP
How to set up data in Easy Time Clock for the Payroll Protection Plan requirements
We have made some adjustments to our system to make easy tracking for the Payroll Protection Plan. We know many of our clients are depending on the PPP and we want to make sure we help in anyway we can. If you were able to get approval before the program closed on August 8, you will be responsible to provide information to qualify for loan forgivness. The information below talks about how to set up a Paid Time Off category called “PPP.”
For those of you more familiar to the system, we will simply be setting up a non-accruing PTO category. For those of you unfamiliar, read on, an you’ll have one set up in a jiffy!
Under the “Features” tab, click on “PTO Categories.” Here, we will create a category and call it “PPP”:
Next, we will head over to “PTO Assignment and Accrual,” again, under the “Features” tab! Here, you will put a check in “PPP” next to each employees name:
When you do this, simply save changes! You’re done!
For more information on loan forgiveness and the paperwork required, please reach out to your financial institution who gave you the loan or check out the SBA website- https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
Our payroll platform, ETC Payroll, also has documentation ready to use to account for the payroll expenses to be provided for loan forgiveness for clients using the ETC Payroll Platform. You can learn more about ETC Payroll here: https://easytimeclock.com/payroll/
Should you need any further assistance, don’t hesitate to reach out and let us know! We are happy to assist!