We know everyone is anxious, however this is just another reason this has to be put to a halt right now. In doing the application for a client who uses Paychex, we discovered that the PPP report that was supposed to be so easy to use is wrong. We have always known ADP's was wrong, hence the reason we are using the accurate payroll figures.
Anyone see the problem here? Anyone simply taking this report to the bank or doing this themselves, has the wrong information. From the 2 largest payroll companies IN THE WORLD!!!
The banks don't know to properly calculate payroll and if they use one of these companies the calculation is inaccurate. Paychex your loan is overfunded and ADP it's underfunded if you solely go on the PPP reports. But this is supposed to be "easy" according to the banks and so they don't want to allow you to use us an "agent" because they don't want to share their fees, that's a fact!!
But if SBA doesn't step in and allow the real accountants to do our job, this will get far more messed up than it already is.
We will continue to push on, but please be patient with us. And DEMAND your bank allow us as Agents for the very reason above.
The two Largest payroll companies on the planet don't have it right. If they can't get it right, then banks can't get it right.
Let us do our jobs and help you. That's all we have ever asked for!!
If the money runs out, there's always that Administrator person to fill it back up!!