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Joshbush89
Level 1

Self-employed simplified expenses fuel category

I am using the self-employed version of QuickBooks and use the simplified expenses to track my mileage, with my regular fuel costs should they be just marked as personal? as they won't be set against my tax as I'm using the simplified expenses method? Thanks.

3 REPLIES 3
emmam6
Moderator

Self-employed simplified expenses fuel category

Hello Joshbush89, Welcome to the Community. If you're using simplified expenses to track your mileage it should mark those expenses as disallowable if you use the car/van expenses category.

Joshbush89
Level 1

Self-employed simplified expenses fuel category

Ok thank you, should they not be marked as personal seeing as it won't be set against my business as I'm using the simplified expenses? I thought Anything in the Car/ van expenses would be for all fuel costs if I were not using simplified expenses..? I hope that makes sense! Thanks.

Rea_M
Moderator

Self-employed simplified expenses fuel category

Hello there, @Joshbush89.

 

Let me route you to the best support who can verify the appropriate category for tracking mileage with regular fuel cost using the simplified expenses method so you can calculate your business expenses accurately in QuickBooks Self-Employed (QBSE).

 

I agree with my colleague @emmam6 that your mileage expenses should be marked as disallowable using the simplified expenses method if you applied them in the car/van expenses category. However, I would still encourage you to consult with your accountant. They can provide expert advice and direction tailored to your business needs.

 

Also, you may want to check out these resources as your reference to learn more about simplified expenses and the difference between allowable and disallowable expenses in QBSE: 

 

 

Please feel free to leave a comment below if you have other mileage concerns or questions about managing self-employed transactions in QBSE. I'm always ready to help. Take care, @Joshbush89.

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