The Paycheck Protection Program (PPP) authorizes up to $659 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis.
The loan is intended to cover payroll costs, mortgage interest, rent and utility costs over the eight-week period after the loan is made.
But, and this is extremely important, loans will not be forgiven unless every expense is tracked.
If your business is struggling to stay afloat, and relying on the PPP loan to make it through the pandemic, something as simple as missing documents can jeopardize the future of your business.
Without an actual copy, digital or on-paper, of an expense, it can't be tracked as part of your PPP expenses.
That means, if you're working with a property manager or utility company who typically sends bills to your workplace and you aren't currently able to access your workplace due to the pandemic, you increase your chances of losing track of those essential documents.
The answer? Stop relying on paper.
With Roger, we eliminate the need to handle paper expense documents. That means reducing the chances of losing documents or, entering the wrong information when manually entering data from bills and receipts.
Your suppliers or vendors, like your mobility company, can send your monthly bill directly to your unique Roger Address, rather than sending it to a physical location. You can also add everything to Roger yourself in a fraction of the time it typically takes to scan bills and receipts.
Roger's Mobile App and easy-to-use online dashboard make it easy to keep track of every document. Plus, everything in Roger syncs to your accounting system through our library of reliable, rigorously maintained system integrations.
It's not who, but what. Roger is a global payments and accounting automation platform.
Roger was founded in 2016 with the goal of taking tedious, manual finance tasks (you know, the ones that slow you down) and automating them. We're loved by over 10,000 business customers who put their trust in Roger to automate their bookkeeping tasks; optimize internal processes, like expense management, reimbursements and cash flow and pay vendors - hands-free!
If your workplace is shut down due to COVID-19, Roger is a necessary tool for making remote work run smoothly.
We help you run every accounts payable, bookkeeping, approval and expense data entry process remotely - and faster.
At the end of the day, we want to help you worry less. Pandemic or not, that's something everyone needs.
In order to be eligible for PPP loan forgiveness, every expense needs to be tracked separately 25% of the loan has to be used on rent, mortgage interest and utilities. The remaining 75% is to be used for payroll.
With Roger, you can do this easily and instantly. Here are the expenses you need to track:
First and foremost, you need to track every expense. Follow the procedure we outlined above.
If you're not already using Roger, we're offering a COVID-19 relief discount to help business owners on board and start tracking their expenses. You get your first month of Roger - free!
Just sign up for Roger and follow the instructions via the chat bubble to enter code ROGERMAY (Please note: Offer expires on May 31).
In addition, here are the rules and regulations you need to follow:
It's a stressful time. You have bigger things to focus on than worrying about manually tracking every expense and keeping track of piles of paper.
Roger is here to help you automate the process and track everything you need to ensure your loan is forgiven.
Ready to get started? Sign up and enter code ROGERMAY after you log in today!
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