Business Mileage in Quickbooks
The online versions of Quickbooks now include a business mileage calculator built in. Simply navigate to the Mileage option on the left hand side of the page click on the green button
Add Trip to the right.
Select the date and time from the drop down options
Enter the distance in miles
Enter the starting point
Enter the destination
If this is the first time you are using the mileage function you will need to click to add your vehicle, Make and model and how many miles recorded so far this year ( note this should be for the tax year 6th April to 5th April , The reason for this is that the HMRC Approved mileage rates are 45p for the first 10,000 business miles in the tax year and then subsequent mileage can be claimed at 25p per mile.
Click either Business or Personal and save.
Quickbooks will keep a record of the business mileage and the potential amount you can reclaim from the business free of tax.
If you use the Quickbooks app it can record the mileage for you automatically for you based on your gps settings.
Add Trip to the right.
Select the date and time from the drop down options
Enter the distance in miles
Enter the starting point
Enter the destination
If this is the first time you are using the mileage function you will need to click to add your vehicle, Make and model and how many miles recorded so far this year ( note this should be for the tax year 6th April to 5th April , The reason for this is that the HMRC Approved mileage rates are 45p for the first 10,000 business miles in the tax year and then subsequent mileage can be claimed at 25p per mile.
Click either Business or Personal and save.
Quickbooks will keep a record of the business mileage and the potential amount you can reclaim from the business free of tax.
If you use the Quickbooks app it can record the mileage for you automatically for you based on your gps settings.
