Managing Transactions under the Paycheck Protection Program in Zoho Books

Managing Transactions under the Paycheck Protection Program in Zoho Books

As you might know, the Paycheck Protection Program (PPP) is an incentive provided by the Small Business Administration (SBA) for businesses affected by COVID-19 in the US. The PPP aims to provide funds for at least eight weeks in order to help businesses pay off all basic operating charges such as employee wages, rent, interest or other utilities and retain their workforce. Read more about the Paycheck Protection Program from our blog.


In case you have applied and qualified for this program, you will have to account for all the cash flowing in and out of your business. If you're using Zoho Books, the best way to manage it would be to record the fund received as a liability account, track transactions with reporting tags and generate reports. Here's a step by step account on how to do this:

1. Create a reporting tag


To start off, you will have to create a reporting tag with which you can associate all transactions concerning PPP. To create a new tag:
  • Go to Settings > Reporting Tags and create a new tag.
  • Enter a Name for the tag (say, PPP) and the Option Name (say, PPP Funds).
  • Save and proceed.



2. Record the fund received


As the fund received from the government is a liability unless it's forgiven, you will have to record the amount deposited under a liability account. You can create a new liability account from Chart of Accounts to keep a track of the amount received or spent. Let's call it the Paycheck Protection Program Loan account.



Once that's done, you can record the fund received:
  • Go to the Banking module and select the account in which you receive the fund.
  • Click the +Add Transaction drop-down and under Money In and select Deposit from Other Accounts.
  • Enter the details of the deposit and, in the From Account, choose the liability account (Paycheck Protection Program Loan) you had created.
  • Associate the tag PPP Funds and Save.


3. Manage operating expenses


Because it's necessary to submit detailed reports at the end of the eight weeks on what the fund was spent on, you will have to keep a track of all incurred expenses (particularly, if they are covered under the PPP). Remember, it is important to account for your expenses in order to qualify for forgiveness. To record them:

  • Go to Purchases > Expenses and create a new expense.
  • Enter the details of the expense and in the Paid Through account choose the bank account through which you received the fund.
  • Associate the tag PPP Funds and Save.


4. Generate reports


To get an overview of all the funds spent on expenses, you can run the Account Transactions report that's filtered by the PPP Funds tag. Here's how:

  • Go to Reports > Account Transactions report.
  • Select Customize Report and click + Add Filter under Advanced Filters.
  • Select Reporting Tags as the field, select a comparator and choose PPP Funds.


  • Add another filter by clicking +Add More. Then, select Account as the field, select a comparator and choose your bank account.
  • Click Run Report to view them.

Repayments and forgiveness


In case your business qualifies for forgiveness (completely or partially), you can transfer the fund amount from the Liability account to an Income account using a manual journal to reduce the liability.

If you have to repay the loan amount, the payments can be recorded as Expenses. Enter the details of the expense, choose the Expense Account as the liability account you created (Paycheck Protection Program Loan) and your Paid Through account will be your bank account.


Note: The Paycheck Protection Program is currently closed. However, the government is considering adding more funds to the program and might reopen the program if the bill is passed.

We understand that this is a stressful period for everyone and we are committed to serving you in these times. Should you have any questions, please reach out to us at support@zohobooks.com for any further assistance.

    Access your files securely from anywhere





            Zoho Campaigns Resources

                  Zoho Developer Community

                      Bootcamp
                      Community
                      Pricing
                      Webinars
                      What's New
                      Integrations
                      Contact Support
                      Contact Sales

                        Zoho Survey Resources
                          Features
                          Survey Templates
                          Integrations
                          Community
                          iOS Mobile Surveys
                          Pricing
                          Android Mobile Surveys
                          Insurvey Blogs
                          Insight Blogs
                          Tips & Tricks






                                        Latest Feature Updates

                                          • Desk Community Learning Series


                                          • Digest


                                          • Functions


                                          • Meetups


                                          • Kbase


                                          • Resources


                                          • Glossary


                                          • Desk Marketplace


                                          • MVP Corner


                                          • Word of the Day


                                          • Ask the Experts




                                              Zoho SalesIQ Resources


                                                    Manage your brands on social media
                                                    Access Zoho Social

                                                      Zoho Pagesense Resources


                                                          Zoho TeamInbox Resources

                                                            Zoho DataPrep Resources


                                                              Zoho CRM Plus Resources

                                                                Zoho Books Resources


                                                                  Zoho Subscriptions Resources

                                                                    Zoho Projects Resources


                                                                      Zoho Sprints Resources


                                                                        Qntrl Resources


                                                                          Zoho Creator Resources



                                                                              Zoho CRM Resources

                                                                              • CRM Community Learning Series

                                                                                CRM Community Learning Series


                                                                              • Kaizen

                                                                                Kaizen

                                                                              • Functions

                                                                                Functions

                                                                              • Meetups

                                                                                Meetups

                                                                              • Kbase

                                                                                Kbase

                                                                              • Resources

                                                                                Resources

                                                                              • Digest

                                                                                Digest

                                                                              • CRM Marketplace

                                                                                CRM Marketplace

                                                                              • MVP Corner

                                                                                MVP Corner





                                                                                  Design. Discuss. Deliver.

                                                                                  Create visually engaging stories with Zoho Show.

                                                                                  Get Started Now


                                                                                    Zoho Show Resources


                                                                                      Zoho Writer Writer

                                                                                      Get Started. Write Away!

                                                                                      Writer is a powerful online word processor, designed for collaborative work.

                                                                                        Zoho CRM コンテンツ








                                                                                          Nederlandse Hulpbronnen


                                                                                              ご検討中の方




                                                                                                    • Recent Topics

                                                                                                    • Add Label or Name parameter to URL Zoho CRM fields

                                                                                                      I have come across this multiple times now where a URL in the URL field is very long and it increases the length of the page. This might be ok if you have just 1 or 2 URL fields but some of my clients have many. It makes the CRM more difficult to read

                                                                                                    • Merge Fields in Zoho CRM Update Field Action

                                                                                                      My idea/feature request is to add the merge field feature to the Update Field Action. I have a use case where I want to update a URL field in CRM with multiple variables from a Deal record. I'm aware that I can do this through a custom function but this

                                                                                                    • Google Ads Data is Publicly available in Zoho CRM

                                                                                                      We recently discovered that ALL of the following Google Ads fields are visible to all users in our CRM that have access to either Leads or Contacts modules. Not only is this troubling and inconvenient, it should be unacceptable. It also creates a mess

                                                                                                    • How to Integrate Zoho CRM with Car Parking Multiplayer Mod APK Unlimited Money?

                                                                                                      I am currently working on integrating Zoho CRM with an android gaming website https://carparkingmulti.com/, and I would like to know the best practices for seamless data synchronization. Specifically, I am looking for: The best API methods for real-time

                                                                                                    • Workflows for Timesheet

                                                                                                      Good day, Any way to have timesheet as triggers? I looked into Zoho Flow and into Zoho Project automation but no where can I have timesheet as a trigger. Basically, I would like to trigger something upon timesheet approval. Right now, the only way to

                                                                                                    • Zoho Creator delete validation seems like does not support <br> html code

                                                                                                      Validation Workflow in Create or Edit, We can use this styling code eg: <br>, <b>, <u> Those very simple code in those validation (in Create or Edit) But, for Validation (In Delete) Zoho Creator seems like does not support it. The alert task just shown

                                                                                                    • No one is answering my Request

                                                                                                      Hello Zeptomail Support, It has been 7 days since our account is blocked due to some issue in our app which was solved later by adding captcha, now no one is answering our ticket to resolve the issue.

                                                                                                    • Merge field support in Field Update

                                                                                                      Hi,  We have a use case that requires values of certain custom fields in Deals to be copied back to corresponding custom fields in Contacts module whenever those fields are changed in Deals. The field update action on Workflow rules doesn't allow specifying

                                                                                                    • I can't found API for Sales Receipts

                                                                                                      Hello May you please help me to find an API document for Sales Receipts to get data and retrive a custom fields like Invoice and credit notes Regards

                                                                                                    • How to find (total) profits per item in Zoho inventory or Zoho Books

                                                                                                      Hi, I would like to find out how to generate a report that has Item/ Cost Price/Sales Price (total)/Profit (total)/Margin The current sales reports has the total qty sold and the sales price but does not show the profits. Can i check how to do it? Similar

                                                                                                    • Zoho Books API Limit Is RIDICULOUS!!!!!!!!!!!!!

                                                                                                      The 2,500 API call limit in Zoho Books is about as useful as AOL dialup.  Seriously Zoho, not only can I use up 2,500 API calls in no time with my own app but YOUR OWN STUPID IPAD APP blows through them super fast too, so if any one of my clients wants

                                                                                                    • Archiving, deleting messages or marking as spam

                                                                                                      Hi, is there any way I can delete or mark a message as spam under the Message tab? I've been trying to find it but can't find this option. I've already deleted the message directly from Instagram but it's still showing on the Messages tab in Zoho So

                                                                                                    • Zoho DataPrep: Data Type Does Not Match Column in the Target - Dates

                                                                                                      We are attempting to add a last order date to our customers in Zoho CRM that is pulled from a google spreadsheet. This is the test data fields we are using. When we import into Zoho Dataprep, we get this error. After checking the formatting, it appears

                                                                                                    • Zoho Books | Product updates | March 2025

                                                                                                      Hello users, We have rolled out new updates in Zoho Books to enhance your accounting experience. These include the ability to create workflow rules for manual journals and Multi-Factor Authentication (MFA) for customer and vendor portals. Explore these

                                                                                                    • Zoho Sheet view has two way sync or one way? Sheet view to CRM and what about CRM to Sheet view?

                                                                                                      I created a zoho sheet view. I can make changes and these changes are saved back to CRM. I have copied the link of this zoho sheet view for future easy access. Now I go to CRM, and update a single record in CRM. Now if I use the zoho sheet view link that

                                                                                                    • Adding number of days to an estimate.

                                                                                                      I need both QTY of item and "number of days hire" in my estimates at the line item level. Any clues as to how this is done would be greatly appreciated. It needs to calculate. Thanks J

                                                                                                    • Weekly Tips: Zoho Mail's Email Signatures for a Professional Touch

                                                                                                      We all may have noticed how much more polished an email looks when it is properly signed off, with title, contact info, or even a link to a website. Without it, the email can come across as incomplete or lacking professionalism. Whether you are sending

                                                                                                    • Multiple Admin accounts

                                                                                                      We recently moved Admin access to our original recruiter (who left) and owner ship of the admin account is set to our CEO. I've asked to also be given admin access so he is not a limiting resource but he/we can't seem to find that out. He recently upgraded

                                                                                                    • Automating CRM backup storage?

                                                                                                      Hi there, We've recently set up automatic backups for our Zoho CRM account. We were hoping that the backup functionality would not require any manual work on our end, but it seems that we are always required to download the backups ourselves, store them,

                                                                                                    • Global Search Custom Field

                                                                                                      I need to be able to search a custom field within a lookup field (see attached screenshot). The custom field will not glean any results

                                                                                                    • How to control the # of version of files to keep?

                                                                                                      Currently most of the WorkDrive Storage comprise of the many versions of files saved. How do I save some space and reduce the number of version of date or files saved in WorkDrive? Thanks

                                                                                                    • Announcing the all-new Offers Module and Offer Approvals in Zoho Recruit

                                                                                                      We're happy to introduce - Offers as a module. As we all know, Zoho Recruit is a powerful Applicant Tracking System that can help us. One of its key features is the ability to generate and approve offer letters. When a candidate is the right fit for a

                                                                                                    • Add "Repeating" functionality to Calls

                                                                                                      Tasks supports repeating tasks.... so why not calls.  Phone calls need to be scheduled on a repeating basis for many salespeople.  Then when they filter or report on PHONE CALL activity, they see calls, not tasks. It is not acceptable to have to schedule

                                                                                                    • Inserted Records not showing in Kanban view

                                                                                                      When insert a new record into a report from a workflow, it doesnt show in KANBAN view. When i view the report in a regular list view, the records are there. If i edit the record (while in list view) and then update it at all (even if i dont change anything,

                                                                                                    • Page - Gauge - Target Values

                                                                                                      Is there a way to make the Target and Maximum values say a formula or query?  For example, total sales for the month = 109 and I want to make my gauge today's percentage.

                                                                                                    • Zoho Books Product Road Map

                                                                                                      I am planning to look into Zoho Books to maintain my Company's Account Books. Is the roadmap of Zoho Books Development available online? What happens if you product dies, without an export feature to other popular Accounting softwares like Tally or Quickbook. Are we going to be left in lurch? Do you have a product road map? Regards, Vishal.

                                                                                                    • Elevate email communications with Zia's Writing Assistant in Zoho CRM

                                                                                                      Hello all, Zoho CRM now brings a comprehensive Writing Assistant powered by Zia, designed to help users write clear, concise, and polished texts, for sending emails in CRM. Why you need writing assistant Communicating effectively is critical in sales

                                                                                                    • how to have incline alert on subrow's column or subform or other workaround that at least can let the user know this subform currently has some validation checking.

                                                                                                      I have a subform and each row that are some columns that are compulsory to fill up. If user did not fill up, how to show incline alert on those columns or incline alert on the subform. Or any workaround that at least can bring the user to that fields

                                                                                                    • Need to show discount before total after subtotal

                                                                                                      Need to show discount before total after subtotal on my estimate template (see attachment)

                                                                                                    • NOW Zoho Creator still cannot bulk download Image or File Upload Field

                                                                                                      The filedownloader has been deprecated for 5 years. Until now, we still cannot have a replacement tool. How can we bulk download the file that we uploaded to Zoho Creator. Previously, it was so simple to bulk download all those files. But now failed to

                                                                                                    • Forwarding email into Desk - DMARC errors

                                                                                                      Hi, Our email domain is hosted through Exchange Online (Office 365). Customers email support@ourdomain.xyz which is delivered to Exchange. Exchange rewrites the TO email header to the email address associated with our Zoho Desk (support@ourdomain.zoho.xyz).

                                                                                                    • Zoho Creator Upcoming Updates - March 2025

                                                                                                      Hello everyone, We hope you’ve had the chance to explore Release Projection 1 for 2025! This month, we’re keeping up the momentum by bringing even more powerful features and enhancements to Zoho Creator. Here's what you can expect in March: App menu builder

                                                                                                    • Getting Started All Zoho Desk APIs require these two mandatory fields in the header.

                                                                                                      Hey, according to API Dokumentation, All Zoho Desk APIs require these two mandatory fields in the header. Authorization - Authentication request token orgId -ID of the organization to access. All API endpoints except /organizations mandatorily require

                                                                                                    • Records not showing immediately.

                                                                                                      Hi, I keep coming across a problem when records are inserted, updated or deleted via deluge, the changes / new records or deletions aren't visible in the form's report. (Even after refreshing and clearing browser cache). I am experiencing this issue in both Google Chrome and Firefox. The records will eventually show up, but the delay can vary wildly. Below screenshot shows the report still showing a record which has been deleted via deluge.  When clicking "edit" on the record, Zoho displays a single

                                                                                                    • Create a draft in reply to an email via Emails API

                                                                                                      Hi, I’d like to use the outgoing webhook to automatically create a draft reply to incoming mail. How can I use the Emails API to create a draft reply that is linked to an existing email thread? I couldn’t find the relevant method in the documentation.

                                                                                                    • Download PDF from File Field with the name in another single line field

                                                                                                      Hi I am storing a PDF file in a File Field of a Form using Zapier automatically. now i need to download that file and set its file name as per the value stored in a single line field in that form. ANy turnout for that Thanks

                                                                                                    • DKIM cannot be enabled for the domain as no verified default selector present

                                                                                                      Can't get the DKIM working. May you please check my account (nksy.us) to see what's wrong?

                                                                                                    • Posibility to add Emoticons on the Email Subject of Templates

                                                                                                      Hi I´ve tried to add Emoticons on the Subject line of Email templates, the emoticon image does show up before saving the template or if I add the Emoticon while sending an Individual email and placing it manually on the subject line. Emoticons also show

                                                                                                    • Circuite fail because www.zohoapis.com:443 refuse conection

                                                                                                      Is anyone else experiencing this issue? A few weeks ago, I started having issues with circuits failing due to www.zohoapis.com:443 refusing the connection. The error message is quite clear and points to a problem on Zoho's API server, rather than with

                                                                                                    • Export PDF File Name

                                                                                                      Is it possible to change the default Zoho .pdf naming scheme for inventory items like quotations? Would like to use the the Subject as the default quote name. Is this possible?

                                                                                                    • Next Page