All businesses operate differently and may not use all the modules within Sage 300, so specific setup details may not apply to everyone. Check with your Accountant to determine the most adequate implementation procedures for your company.

If your company qualifies for a PPP loan, determine if the following setup scenario is suitable in your Sage 300 database:

  1. Setup appropriate General Ledger(GL) account(s) for the processing of this loan.
  2. Create a new Bank specifically to record transactions related to this loan.
  3. Appropriate payments (check or EFT) may be made from Accounts Payable or Payroll and the system will update the Bank and GL.
  4. Adjusting Journal entries can also be created directly in GL if desired.
  5. If further analysis is required on the loan, try printing some of the transaction reports from the related module(s).

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