Bookkeeping Suggestions for EIDL Progress and you will PPP Money
Congratulations! You simply featured your money and you will pointed out that one another the EIDL progress (grant) getting $ten,one hundred thousand and you can PPP loan to own $100,one hundred thousand was basically funded today. The hard part is over! Or is it? Today is additionally the conclusion the fresh day, so you must get together again your money and you may article the fresh new records because of it interest. Exactly what certainly are the record entries so you’re able to number this type of transactions? Listed here are all of our required actions and you may log entries so that the proper reporting cure for these types of fund, according to research by the issuance of one’s financing, forgiveness of financing, and you can tape off expenditures about the borrowed funds.