How to book SBA payments made on behalf of borrower under the CARES act.

[csblev]

Under the CARES act, the SBA is making our SBA loan payments of principal and interest (not differing) for 6 months. What is the correct way to book these payments in our accounting system? Thanks!

 

[kirby]

Heads Up — Highlights of the CARES Act (April 9, 2020; Last Updated September 18, 2020) | DART – Deloitte Accounting Research Tool

This issue discusses key aspects of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides $2.2 trillion of economy-wide financial stimulus in the form of financial aid to individuals, businesses, nonprofits, states, and municipalities. The issue focuses on...

dart.deloitte.com

Look under the "1112" section. I'm biting my tongue cause no single method is given.

 

[csblev]

That is helpful. Thank you!