As welcome as the Paycheck Protection Program (PPP), the CARES (Coronavirus Aid, Relief, and Economic Security) Act, and other federal programs have been to companies seeking a financial lifeline during the global health crisis, by accepting government COVID-19 relief, architecture and engineering firms in most cases also must accept the additional tracking and reporting requirements that come with that aid.
An article written by Unanet Senior Vice President of Product Matthew Pantana and published in Construction Executive provides architecture and engineering firms with timely guidance to help them meet the unfamiliar and sometimes nebulous compliance requirements of PPP, the CARES Act and other of Uncle Sam’s relief programs. Pantana, a veteran of the A&E business, offers an in-depth look at the accounting, audit, and reporting capabilities that firms need to meet the compliance requirements associated with these new programs. In the article, he provides guidance on the following:
- The data that firms must track to support claims for CARES Act workforce retention credits
- The documentation required to support PPP loans
- The data firms must provide to comply with paid leave requirements and to claim any credits for the paid leave they provide to employees.
To read the full article in Construction Executive, click here.
by Lucas Hayden
May 13, 2020