How do I pay my employees with SBA PPP FUNDS?

[Aledelafuente]

I received the SBA money yesterday, I want to start paying my employees in this coming week. ( I pay weekly). I am not sure how to run the payroll. 

Since I don't have a clock in and out sheet should I based their hours with previous weeks? Should I manually type the hours to pay them? Is this money for the next 8 weeks or the past 5 weeks too??? I have to many questions and can't find answers. Please if you have any information and how can I pay my employees starting ASAP. I appreciate it!!!

thanks!

[isabelle · Accepted solution]

Hey @Aledelafuente -

Thanks for posting in the Seller Community.

The purpose of the PPP is to help you retain your employees, at their current base pay, and cover other essential business costs. You must use at least 75% of PPP funds to cover qualifying payroll costs and the remainder may be used for qualifying non-payroll costs over the eight-week period following the date of the loan. If you do not use PPP for these purposes, your PPP loan will not be forgiven and you will be required to pay back the loan. 

When it comes to how much or what hours you should pay your employees for, that is entirely up to you and how you want to run your payroll and/or business.

If you have any additional questions, I would encourage you to take a look at our PPP FAQ page, or please contact us.

[Aledelafuente]

Thank you. I do have that information. 
My question is, since I pay hourly, I go and do time card for each employee manually?

[isabelle]

If their hours have not been entered yet, then you could enter them manually, or ask them to fill out their own time cards @Aledelafuente.