Ppp Schedule A Worksheet Average Fte. Modified total (line 10 x line 11) line 13: For lines 2 and 3, you’ll need the average fte (box 2) and the salary/hourly wage reduction (box 3) from ppp schedule a worksheet, table 1.
For each employee, enter the average number of hours paid per week, divide by 40, and round the total to the nearest tenth. Enter average fte (box 2) from ppp schedule a worksheet, table 1: For simplicity, when completing the forgiveness application, the sba has.
Average Fte For One Of The Following.
Navigate to the schedule a worksheet at the top of the page. Ppp schedule a worksheet has table 1 and table 2 which asks for employee name, employee identifier, cash compensation, average fte, and salary/hourly wage reduction. I am working on the paycheck protection program forgiveness work sheet and i need an excel formula that calculates the average full time equivalent for each employee.
Was Used To Calculate Average Fte In The Ppp Schedule A Worksheet Tables.
From the worksheet, box 3. If the average annual salary or hourly wage for each employee listed on the ppp schedule a worksheet, table 1 during the covered period was at least 75% of such employee’s average annual salary or hourly wage for the most recent full q uarter before. Otherwise, complete lines 11, 12, and 13.
To First Complete Your $100,000 Validation, Click 1.
The first of these fte reduction exemptions can be found at the bottom of page 3 of form 3508 on ppp schedule a. Otherwise, if step 4 is greater than step 2, check the box and enter 1.0 on line 13. Fte calculation worksheet for ppp.
Navigate To The Schedule A Worksheet At The Top Of The Page.
A full time employee working 40 hours a week would be 1.0 an employee working 20 hours a week would be.5 and one working 10 hours would be.25. To calculate the average fte for each employee, borrowers need to accumulate the total hours paid during the. (for those employees earning more than $100,000 per year) of ppp schedule a worksheet (form 3508, p.4 see link at footnote 1).
Payroll Cost 60% Requirement (Divide Line 1 By 0.60) Arrive At The Forgiveness Amount.
If the average annual salary or hourly wage for each employee listed on the ppp schedule a worksheet, table 1 during the covered period or the alternative payroll Enter average fte (box 2) from ppp schedule a worksheet, table 1; When requesting forgiveness, the borrower may elect to use 1.0 for employees who work 40 hours or more per week and 0.5 for employees who work less than 40 hours per week.