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Join nowHi there, david.
I understand the importance of converting your mileage to expenses so that you have all the necessary information to calculate deductions when tax time comes around. I'll share some details about how this feature works.
Importing and recording mileage expenses will not be reflected in reports. It is designed to track the data in one place and tally the totals, so you have everything you need to make tax deductions.
The Profit and Loss report is a financial statement that summarizes the income, costs, and expenses incurred over a given period. You can create a reimbursement expense for you or your employee if you want the mileage expense to appear on the report. I'll show you how.
First, let's set up a vendor profile:
Next, create a mileage reimbursement expense account:
Then, add an item for mileage reimbursement:
After that, enter a bill for the mileage reimbursement:
Lastly, record the payment for the Reimbursement expense:
For more details about the process, I suggest browsing this article: Reimburse employees' mileage and vehicle expenses in QuickBooks Online.
Please don't hesitate to post again if you need additional assistance managing your mileage. I'm always available to help you.
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