I have been recording them as a current liability.  Except I do have an accrual basis client who had satisfied all requirements for forgiveness and submitted their application for forgiveness before 12/31/2020 and was granted forgiveness mid-January of 2021.  I will report this as non-taxable income for 2020.  

In Lacerte there are fields on the Gross Income screen 13 for PPP loan forgiveness and EIDL grants.  These entries will then flow through to Sch K, Sch K-1, Sch M-1 & M-2 and increases the shareholders' basis.