Recruitment Agencies + PPP & EIDL Documentation: The Challenge
As recruitment agency owner, preparing bank statements for ppp & eidl documentation is a common but time-consuming task. PPP and EIDL loan recipients need bank statements to document eligible expenses, payroll costs, and fund usage for SBA forgiveness applications and ongoing compliance.
How BankScan AI Helps Recruitment Agencies with PPP & EIDL Documentation
Convert your agency bank statements to Excel to reconcile placement fees, match temporary worker payments, and track client account balances. For ppp & eidl documentation specifically, BankScan AI extracts Payroll costs (must be at least 60% of PPP funds), rent, utilities, mortgage int automatically.
How Recruitment Agencies Handle PPP & EIDL Documentation
When preparing bank statements for ppp & eidl documentation, recruitment agencies need to Recruitment agencies invoice clients for permanent placement fees or weekly/monthly temporary worker charges, pay temporary workers via payroll or umb. BankScan AI automates the data extraction step.
Key terms you'll encounter: placement fee, temp margin, rebate period, umbrella company.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 8-24 week covered period for PPP forgiveness; EIDL loan term (up to 30 years) with ongoing compliance documentation of fund usage of statements for ppp & eidl documentation.
AI extracts what you need
Our AI extracts Payroll costs (must be at least 60% of PPP funds), rent, uti — formatted for recruitment agencies workflows.
Complete your ppp & eidl documentation work
Download Excel files ready for ppp & eidl documentation. Expenses categorized by PPP-eligible category (payroll, rent, utilities, etc.) with dates proving they fall within the covered period; FTE headcount evidence from payroll transactions
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Recruitment Agencies — PPP & EIDL Documentation
- Built for Recruitment Agencies — Saves 3-4 hours per week on placement fee reconciliation and temporary worker payment matching for an agency processing 50+ placements per month
- Software compatible — Output works directly with Xero, Sage, Bullhorn
- Built for PPP & EIDL Documentation — Convert bank statements to structured spreadsheets to document PPP-eligible expenses, track EIDL fund usage, and prepare forgiveness application supporting documents.
- Key data extracted — Payroll costs (must be at least 60% of PPP funds), rent, utilities, mortgage interest, covered operations expenditures, PPP fund receipt and disbursement dates
Compliance: Recruitment Agencies + PPP & EIDL Documentation
When recruitment agencies prepare bank statements for ppp & eidl documentation, specific compliance requirements apply.
- Employment Agencies Act 1973 and Conduct of Employment Agencies Regulations 2003 govern agency operations. REC (Recruitment and Employment Confederation) members face additional compliance standards. AWR (Agency Workers Regulations) affect temporary worker pay calculations. HMRC employment status rules apply to contractor placements.
- Legal basis: CARES Act section 1106 (PPP forgiveness); Economic Aid Act (PPP Second Draw); SBA Interim Final Rules on PPP forgiveness (85 FR 33004)
PPP & EIDL Documentation — Built for Recruitment Agencies
PPP forgiveness applications should be submitted within 10 months of the covered period end to avoid loan repayment starting; SBA OIG audits can occur years after forgiveness
Try Free — Recruitment Agencies + PPP & EIDL Documentation