Accounting for PPP money – from loan to give earnings

As organizations continue steadily to make an application for and get Paycheck Protection Program funds, there continues to be a question that is lingering of to take into account it within the books. Will it be a loan or federal government grant? a contribution that is conditional?

The truth is, it may be most of the above. Contemplate it a liability on your own publications until such time you learn how much qualifies for forgiveness. (more…)