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
Centralize Knowledge. Transform Learning.
All-in-one knowledge management and training platform for your employees and customers.
New to Zoho Recruit?
Zoho Developer Community
New to Zoho LandingPage?
Zoho LandingPage Resources
New to Zoho Survey?
New to Zoho CRM Plus?
Deliver unforgettable customer experiences
New to Zoho CRM Plus?
Deliver unforgettable customer experiences
New to Zoho Marketing Plus?
Everything you need to run your marketing
New to Zoho Marketing Plus?
Everything you need to run your marketing
New to Bigin?
Topic Participants
Aashika
Sticky Posts
[Webinar] Understanding the New Invoice Management Systems
Join industry expert CA Pritam Mahure as he discusses the importance of the new Invoice Management System (IMS) and its impact on taxpayers. Topics Covered: - Concept of IMS and pre-requisites - Applicability and Restrictions on Invoices/Records for IMSZoho Books Roadshows are back in the UAE!
Hello there, Business owners and accounting professionals of the UAE, we’re coming to your cities! FTA accredited Zoho Books is now officially one of the Digital Tax Integrators in the UAE. With the newly launched direct VAT filing capabilities, we'reZoho Books will discontinue support for older browser versions soon
Hello users, Starting from May 15, 2024, Zoho Books will no longer support the following browser versions: Browsers Version Restrictions Firefox Browser Versions older than 100 Google Chrome Versions older than 100 Microsoft Edge Versions older than 100Latest Updates of the 53rd GST Council Meeting & Its Business Implications
Join industry expert CA Venugopal Gella as he discusses the importance of 53rd GST Council Meeting, the latest notifications and changes introduced by the Finance Act 2024. Register Now: https://zoho.to/GST_WebinarBest practices for financial year-end closing with Zoho Books | Free Webinar
Ready to close your year-end finances like a pro? Join our free webinar and learn how Zoho Books helps you maintain clean accounts, carry forward balances, and get geared up for the new financial year. Register now - https://zoho.to/9f1
New to Zoho TeamInbox?
Zoho TeamInbox 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
Design. Discuss. Deliver.
Zoho Show Resources
Get Started. Write Away!
Writer is a powerful online word processor, designed for collaborative work.
Zoho CRM コンテンツ
-
オンラインヘルプ
-
Webセミナー
-
機能活用動画
-
よくある質問
-
Ebook
-
-
Zoho Campaigns
- Zoho サービスのWebセミナー
その他のサービス コンテンツ
Nederlandse Hulpbronnen
ご検討中の方
Recent Topics
Ability to Disable System Banner Messages in Chat Flow Control
Dear Zoho SalesIQ Team, Greetings, We would like to request an enhancement related to the system banner messages in Zoho SalesIQ chat flow control. Current Behavior: SalesIQ allows configuring various automatic banner/system messages such as: WaitingIdle Chat Reminders for Agent-Handled Conversations
Dear Zoho SalesIQ Team, Greetings, We would like to request an enhancement to the Idle Chat Handling functionality in Zoho SalesIQ—specifically for chats that are handled by human agents after a bot-to-agent transfer. Current Behavior: In Zobot settings,Snapchat
Are there any plans to add Snapchat to Zoho Social or is there any API that we can use to integrate into Zoho.Zoho Sign "An unexpected error occured" when clients trying to sign documents
We are unable to have clients sign our documents. When attempting to complete the process an error appears saying "an unexpected error occured" and in the document history just shows "signing failure." We are at a complete standstill with no response¡Vuelven los Workshops Certificados de Zoho a España!
¡Hola usuarios de Español Zoho Community! Hace ya unos días que hemos dado la bienvenida al 2026, y promete ser un año de lo más emocionante. Y es que nos gustaría haceros nuestro particular regalo de Reyes, aunque lleguemos un poco tarde. 🎁 ¡Nos gustaríaHow to list services on quote instead of products
I need to create a customer facing estimate that displays our services. The default quote layout only allows products to be listed. Is there a way to correct this?Syncing calendar with Google Calendar doesn't work when events are sent to auto repeat
Hi... The ZOHO CRM -- GOOGLE CALENDAR sync is broken. If I create a single event on either side, sync works, but if I create an event with auto repeat on either side it doesn't work. Furthermore, events created before the sync don't show up in the calendar.Invoice status on write-off is "Paid" - how do I change this to "Written off"
HI guys, I want to write off a couple of outstanding invoices, but when I do this, the status of the invoices shows as "Paid". Clearly this is not the case and I need to be able to see that they are written off in the customer's history. Is there a wayZoho Books - France
L’équipe de Zoho France reçoit régulièrement des questions sur la conformité de ses applications de finances (Zoho Books/ Zoho Invoice) pour le marché français. Voici quelques points pour clarifier la question : Zoho Books est un logiciel de comptabilitéCreating meetings from an email
Hi. Similar to Outlook, it would be helpful if a meeting can be scheduled from an email so that the attendees need not be manually entered every time it's created.Please, make writer into a content creation tool
I'm tired of relying on Google Docs. I'm actually considering moving to ClickUp, but if Writer were a good content creation tool instead of just a word processor, I would finally be able to move all my development within the Zoho ecosystem, rather thanZohoSalesIQ.Chat cannot send messages
Chat cannot send messages. Our app implements the customer service chat window functionality by integrating the Mobilisten SDK. Recently, we encountered an issue: after successful SDK initialization and visitor registration, when the `startWithQuestion`Missed chats on WhatsApp closing after one minute
Hi, we have added WhatsApp as a channel. However, if a chat is not picked up within 2mins, the chat is marked as missed and is closed within a minute. Why are they not staying in our "missed" queue for 24 hours as per our WhatsApp preference settings?Feature Request: Add Tax ID Display on Event Tickets
Hello Backstage Team, I’ve had several clients bring up an issue regarding tax compliance when creating events. For tax purposes, they are required to show their Tax ID on the event tickets. Currently, this isn’t an option, so they have to manually generateRelease Notes | January 2026
We have rolled out a set of powerful new enhancements across Zoho Vertical Studio that bring several long-awaited capabilities to your applications. These updates focus on deeper customization, smarter automation, better reporting, and improved usabilityEmail Alias: To keep emails flowing without disruption
Email Alias acts like a nickname for a user’s primary email address, allowing multiple email addresses to deliver messages into the same mailbox. Consider the scenario where an employee manages multiple responsibilities, such as responding to sales inquiries,Zoho Sites - General Feedback
Hi Everyone-- Quick question for discussion: is it me or is working with Zoho Sites like entering the Twilight Zone? I've built many sites over the years, but this platform seems impossible. I've spent an entire day and a half trying to get a simple one-colorArchive Option in Conversation View
Hello, I have a suggestion\request to add an "Archive Thread" button in conversation view of Zoho Mail. The best suggestion I have is to put an "Archive Thread" button next to the "Label Entire Thread" button in conversation view. Most users don't justCollapsing and expanding of lists and paragraphs
hello Would you ever implement Collapsing and expanding of lists and paragraphs in zoho writer ? Best regardsInventory "Bulk Actions" button - add more fields to "Bulk Update > Select a field"
Can we not get a lot more actions that are commonly used by customers into the "More Actions" button on the Inventory list? More fields listed in the Bulk Update > Select A Field? Possible Bulk update Fields Preferred Supplier ( to quickly move itemsBulk upload image option in Zoho Commerce
I dont know if I am not looking into it properly but is there no option to bulk upload images along with the products? Like after you upload the products, I will have to upload images one by one again? Can someone help me out here? And what should I enterFunction #11: Apply unused credits automatically to invoices
Today, we bring you a custom function that automatically applies unused credits from excess payments, credit notes, and retainer payments to an invoice when it is created. Prerequisites: Create a Connection named "zbooks" to successfully execute the function.Tip #60- Exploring Technician Console: Screen Resolution- 'Insider Insights'
Hello Zoho Assist Community! Have you ever started a remote session and felt the screen quality wasn’t sharp enough for detailed work? A new user recently explored Zoho Assist after installing the trial version and running a few initial tests. While theRight Moment, Right Message, Right Operator: Never Miss a High-Intent Lead
Ever been on a website or app, thinking “Should I buy this or not?” and suddenly a friendly message “Hi! How can I help you?” pops up at the perfect moment? That’s not luck. That’s timing done right. Engaging right visitors at the right moment, with theCRM x WorkDrive: We're rolling out the WorkDrive-powered file storage experience for existing users
Release plan: Gradual rollout to customers without file storage add-ons, in this order: 1. Standalone CRM 2. CRM Plus and Zoho One DCs: All | Editions: All Available now for: - Standalone CRM accounts in Free and Standard editions without file storageZoho CRM Workflow Automation: Activate & Deactivate Workflows Using API
Zoho has now enabled: ✅ Activate / Deactivate workflows using API ✅ Schedule workflow activation & deactivation This is extremely useful for real-world automation use cases 💡 🧩 My Use Case I created a scheduled automation that: ☀️ Activates workflows{Action Required} Re-authenticate your Google Accounts to Continue Data Sync
Hello Users! To align with Google’s latest updates on how apps access files in Google Drive, we’ve enhanced our integration to comply with the updated security and privacy standards, ensuring safer and more reliable access to your data. With this update,Function #53: Transaction Level Profitability for Invoices
Hello everyone, and welcome back to our series! We have previously provided custom functions for calculating the profitability of a quote and a sales order. There may be instances where the invoice may differ from its corresponding quote or sales order.Project-Based Inventory Consumption and Proforma Invoice in Zoho ERP
While working with customers across different industries, we have identified a few functional questions and gaps that commonly arise—especially for project-based and service-oriented businesses. Many organizations, such as those in shipping, construction,[Free Webinar] Zoho RPA - OCR, PDF Automation, & More
Hello Everyone! Greetings from the Zoho RPA Training Team! We’re excited to invite you to our upcoming webinar on the latest release updates for Zoho RPA, where we’ll unveil powerful new capabilities designed to make your automation journey smarter, faster,Zobot Execution Logs & Run History (Similar to Zoho Flow)
Dear Zoho SalesIQ Team, We would like to request an enhancement for Zoho SalesIQ Zobot: adding an execution log / run history, similar to what already exists in Zoho Flow. Reference: Zoho Flow In Zoho Flow, every execution is recorded in the History tab,Global Search Settings
I'd love a way to remove some modules from being included in the global search. This would allow use to provide a better user experience, limiting the global search to only those modules that are regularly used removing any models used for backgroundCard Location in Zobot
Hello, when using the “Location” card in a codeless builder Zobot, the behavior in WhatsApp is inconsistent. When asking the user to share their location, they can type a message, which will return the message “Sorry, the entered location is invalid.Automation Series: Auto-create Dependent Task on Status Change
In Zoho Projects, you can automatically create and assign a dependent task when a task’s status is updated. This helps teams stay aligned, ensures reviews happen on time, and reduces manual effort. In this post, we’ll walk through an easy setup usingLanguages in Zobot
Hello, I have found a list of supported languages for the Zobot. The information specifies the languages are supported in the following 3 features: SalesIQ supports 34 different languages in the following features. Resources (Articles, FAQs, Small Talks)Composite items inside of composite items; bill of materials needed
Hi Zoho and Everyone, I am evaluating whether Zoho Inventory will work for my small business. I grow and harvest herbs and spices but also get from wholesalers. I use all these items to make herbal teas, but also sell them as individual items on my Shopify store and Etsy. I discovered the composite item bundling and am wondering if I could get some assistance since there is no bill of materials: Our herbal company's best selling tea is a sleepytime tea. Sleepytime Tea can be purchased in three weightsAction required: Reauthorizing your Google account in Zoho Sign for automatic cloud backup to Google Drive
This is applicable to users who have already configured automatic cloud backup to Google Drive. Hi there! Google has mandated reauthorization of all preconfigured third-party integrations to ensure only the necessary scopes are shared as an improved securityZoho CRM Layouts
I have customised all our modules, Leads, Contacts and deals, and within them, I have created lots of different layouts depending on the type of Lead or contact, for example. Since the new Zoho UI came out, they have all disappeared. I have gone intoStreamlining E-commerce Photography with AI Background Tools
Hey Zoho Community, I’ve been messing around with ways to make product images less of a headache for fashion brands on Zoho Commerce. You know how boring generic backdrops can get, and how much time traditional photoshoots eat up, right? I tried out thisWhatsApp IM in Zoho Desk always routes to Admin instead of assigned agent
Hello Zoho Experts, I connected WhatsApp IM to my Zoho Desk account. I only assigned my Customer Service (CS) agent to the WhatsApp channel, and I did NOT include Admin in this channel. However, every new WhatsApp conversation automatically gets assignedNext Page