Introduction
Tracking and entering mileage in QuickBooks is essential for accurate expense reporting and tax deductions. Whether you are using QuickBooks Desktop or QuickBooks Online, this guide provides a step-by-step process to record mileage effectively.
Entering Mileage in QuickBooks Desktop
Step 1: Set Up Vehicle Information
- Open QuickBooks Desktop: Launch QuickBooks and log in with your credentials.
- Go to Vehicle List: Navigate to
Company > Enter Vehicle Mileage
. - Add Vehicle: Click
Vehicle List
, thenVehicle > New
to add a new vehicle. - Enter Details: Fill in the vehicle name and details, then click
OK
.
Step 2: Record Mileage
- Enter Mileage: Go to
Company > Enter Vehicle Mileage
. - Select Vehicle: Choose the vehicle for which you are recording mileage.
- Enter Trip Details: Fill in the starting and ending odometer readings, trip date, and other relevant details.
- Choose Purpose: Select the business purpose for the trip from the dropdown menu.
- Save Mileage: Click
Save & Close
to record the mileage.
Step 3: Generate Mileage Reports
- Open Reports: Go to
Reports > Employees & Payroll > Mileage by Vehicle Summary
. - Customize Report: Adjust the date range and other settings as needed.
- View Report: Click
Display Report
to view the mileage details.
Entering Mileage in QuickBooks Online
Step 1: Access the Mileage Feature
- Open QuickBooks Online: Log in to QuickBooks Online with your credentials.
- Navigate to Mileage: Go to
Mileage
from the left-hand menu.
Step 2: Add a Vehicle
- Add Vehicle: Click on
Add vehicle
. - Enter Vehicle Details: Fill in the vehicle name, type, and other relevant details.
- Save Vehicle: Click
Save
to add the vehicle to your list.
Step 3: Record Mileage
- Log a Trip: Click on
Add trip
. - Enter Trip Details: Fill in the trip date, starting and ending locations, and the purpose of the trip.
- Select Vehicle: Choose the vehicle used for the trip.
- Save Mileage: Click
Save
to record the trip mileage.
Step 4: Review and Edit Mileage
- View Mileage Log: Go to
Mileage
to see all recorded trips. - Edit Entries: Click on any trip to edit the details if necessary.
- Generate Reports: Use the
Reports
section to generate mileage reports for your records.
Best Practices for Tracking Mileage
- Regular Updates: Enter mileage regularly to ensure accuracy and up-to-date records.
- Detailed Entries: Provide detailed descriptions and purposes for each trip to maintain clear records.
- Review Reports: Regularly review mileage reports to ensure all entries are accurate and complete.
- Use Mobile Apps: Consider using QuickBooks mobile apps for real-time mileage tracking.
Conclusion
Entering and tracking mileage in QuickBooks is straightforward when following the correct steps. By setting up vehicles, recording trip details, and regularly reviewing reports, you can ensure accurate mileage tracking for expense reporting and tax deductions. Implementing best practices will help maintain clear and organized mileage records.