-KISS- your PPP Bookkeeping

A helpful video from Michelle Edwards, CPA of Trailhead Accounting for all those nonprofits and business owners doing their own books! KISS your PPP bookkeeping. Use the simplest path to successful bookkeeping of your PPP :loan!.

BUT.... REMEMBER... as of the date of this blog post, the expenses paid by your PPP loan are not tax deductible expenses. The powers that be are still debating if that will hold true come tax time. But if you set up a separate bank account for these funds, like most lenders are requiring, you won't have any trouble pulling that account's reports out of QuickBooks® for your tax professional at the end of the year.