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You've applied for the Paycheck Protection Program (PPP,) and you've been told that you are getting the money. Awesome! But now you need to use those funds wisely in order to have your loan forgiven. Hannah Smolinski, CPA and Founder of Clara CFO Group, talks about how to budget the PPP funds well, and walks you through an Excel worksheet that can help you keep track of your PPP money in order to ensure maximum forgiveness. This will help you plan, prepare and be ready to apply for forgiveness of your PPP loan. Download the PPP Budget worksheet here: http://learn.claracfo.com Make sure you check with your bank on any forgiveness requirements. This tool is meant to help you PLAN for forgiveness, but it does not guarantee forgiveness. Do your best to plan your spending so that you can hit the spending thresholds in order to qualify for forgiveness. The Paycheck Protection Plan does allow for forgiveness of certain qualified costs, so be sure to track and plan your spending! Remember to document and save evidence of any spending you make. Save the bill and proof of payment for any utility bills. Have your lease agreement or mortgage statements available to show proof of your rent or mortgage interest. Make sure you get reports from your payroll provider to prove your payroll amounts. For more small business financial resources go to: https://claracfo.podia.com/ To learn more about Clara CFO Group go to: https://claracfo.com/ 💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! https://claracfo.com/QBO 🙋♀Got Employees? Need a payroll company that knows what small businesses need? We recommend Gusto as the best small business payroll provider. Sign up for $100 gift card after you run your first payroll: https://claracfo.com/gusto 💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! https://claracfo.com/melio (As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases) Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.