We’re here for the Accounting Profession during COVID-19
As you know, legislation and policy initiatives designed to assist business owners in their most critical time of need are rapidly evolving. Our communications with business owners have been ongoing and one thing is clear: business owners urgently need help. We’ve developed a set of tools and resources that can help you, their trusted advisors, navigate the complexity and get them the help they need.
Helping your clients apply for Paycheck Protection Program (PPP)
- Guidance on Average Monthly Payroll calculation: Paychex has worked in conjunction with the AICPA and other members of the small-business funding coalition to provide a joint recommendation on how to calculate the Average Monthly Payroll costs for the PPP application.
- PPP reports available for your Paychex clients: This report provides the payroll information needed for the loan application process. With recent guidance released April 6 by the Small Business Administration, Paychex created a new version of its report to align the payroll costs calculations with this update. If a business is a Paychex Flex® user, Version 3 of the report will be available within the Quick Reports section of their dashboard. As a CPA/accountant, you can access these reports for your clients through AccountantHQ. If you need more information about the report, check out this Q&A.
Helping Your Clients Navigate COVID-19 Legislation
- Simple, online tools to help educate your clients about federal loans, tax credits, and 401(k) implications to share during your consultations to help them evaluate their best options.
- Co-branded summary of legislation providing a simple side-by-side comparison of alternatives to share with your clients. View the resource.
Educating the Profession
- Accountant Knowledge Center (AKC): Access to free COVID-19 tax briefings; state and federal employment law comparisons; Law, explanation, and analysis of the coronavirus stimulus legislation; a special addition of the U.S. Master Tax Guide, including COVID-19 relief acts, Taxpayer First Act and the SECURE Act, and much more.
- Access COVID-19 CPE self-study courses
- Client letter tool kit to assist with client communications
- Live Webinars – Visit our website to register for the latest offerings.
- Resources and solutions that can help businesses overcome challenges related to COVID-19 are available on our resource page.
Addressing urgent client needs
- Paychex and PayActiv incentives - Solutions are available to help businesses manage cashflow and employees gain more immediate access to earned wages. Additional pay-on-demand information is also available.
- With over 600 HR professionals serving our clients, we can provide expert HR guidance to help businesses evaluate risks, adjust workplace policies, and communicate HR and payroll changes to employees.
- Online HR tools that assist with the transition to remote work through learning and communications tools, document management, and more.
Accountants and CPAs have played an invaluable role in the success of Paychex for nearly 50 years, and for millions of businesses across America. Many of these businesses are our mutual clients, and we want to be sure that we are doing everything we can to ensure their continued success. Now, more than ever, we value the collaboration we have with the accounting profession.
During these unprecedented times for businesses and individuals, Paychex has dedicated employees working to provide updated resources to CPAs and accountants to help them in consultations with clients. If you still have questions, don’t hesitate to reach out to your Paychex representative.
President & CEO