VAT and mileage

DebatEntify · ‎March 01, 2019

Hello,

This is half a quickbooks question and half a VAT question.

I use two vehicles for my business and complete between 500 and 1000 miles per month - approx £200 of fuel. Up until now I have just ignored VAT for vehicles as it was too complicated (and this may still be the best approach). Now that I have registered on quickbooks I wondered if there is a tool that makes it easier? My car is 235g/km CO2.

So the questions are:

How do you record mileage in quickbooks to include in VAT return?

How do I deal with the fuel purchases in my bank account not wanting to add up with the quickbooks balance?

Is it even worth the hassle of claiming the VAT for the amounts I am using?

If you havn't guessed already I do not have an accountant.

Thank you for any advice.

MirriamM · ‎May 10, 2019

Hi there, Domalos,

Thanks for visiting the Community and joining the thread.

For a more detailed information, here's a great resource that you can check: How to track mileage.

If there's anything else you need help with in managing your account, please feel free to reach back out.

View solution in original post

TaliaI · ‎March 01, 2019

Hello DebatEntify,

Welcome to the Community, thank you for your question!

Please find attached a link on how to record mileage within QuickBooks here.

You could create a separate bank account for your fuel purchases so that the amount does not reduce your QuickBooks bank balance. All you will then do is select the correct VAT code when entering these expenses and QuickBooks will include this amount within Box 4.

Please let us know if you have any further questions, we'd be happy to help you through reclaiming the VAT on this.

Thanks,

Talia

DebatEntify · ‎March 01, 2019

Thank you for your reply.

Is it best not to pay for fuel with my business account debit card then? Should I use a personal card?

EdwardR · ‎March 01, 2019

The spends on fuel - is this being done on the bank account that we have in your QuickBooks?

Domalos · ‎May 10, 2019

@TaliaI your link quoted above (and below) does not work. It stalls. Please provide alternative?

https://https//quickbooks.intuit.com/community/Help-Articles/How-to-track-mileage/m-p/238809?advanced=false&collapse_discussion=true&filter=location&location=category:community-uk&q=mileage&search_type=thread

MirriamM · ‎May 10, 2019

Hi there, Domalos,

Thanks for visiting the Community and joining the thread.

For a more detailed information, here's a great resource that you can check: How to track mileage.

If there's anything else you need help with in managing your account, please feel free to reach back out.

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