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Hi hbpierce,
It's good to make sure you're recording your transactions the right way and I'll be glad to help. QuickBooks Online makes it simple to manage your transactions. With the amazing features offered by the program, you can simplify the way you handle your accounting. I'd be glad to steer you in the right direction so you can focus on the things you enjoy doing.
I'd suggest reaching out to an accounting professional for expert advice on how to record the fuel amount. If you're not in contact with a professional, don't worry, you can search for one using this link here. In the meantime, I encourage you to check out this helpful article which shows you how to properly: Categorize and match online bank transactions in QuickBooks Online.
If you still have questions, feel free to leave a comment below. I'll be here to assist.
Hi hbpierce
As with anything, back up is good. If you're expensing less than the total of a bill or receipt, that's a good sign you're trying to be honest. If you have some kind of mileage estimates you can jot down and show ratios on (eg 500km work versus 400km personal).
Alternatively, you could start using the mileage feature in QBO and just pay yourself per kilometer to avoid any questions. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/a...
I am scanning a photo of my fuel receipts but like the person above said how do I track only a percentage of the fuel receipt (as I use my vehicle for personal use and business use.) Is there a way to indicate the amount of fuel used for business vs. personal, attached to each receipt that is uploaded? I am using the GPS feature in QB to track mileage for business mileage and personal mileage. But I am just not sure how to specifically indicate the amounts on each fuel receipt uploaded. Thanks!
I am scanning a photo of my fuel receipts but like the person above said how do I track only a percentage of the fuel receipt (as I use my vehicle for personal use and business use.) Is there a way to indicate the amount of fuel used for business vs. personal, attached to each receipt that is uploaded? I am using the GPS feature in QB to track mileage for business mileage and personal mileage. But I am just not sure how to specifically indicate the amounts on each fuel receipt uploaded. Thanks!
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