Murph's 'soap box':
Do I dare.. you bet... we told you about it here, first, six months ago (April 8, 2019). Yes, Liz told you that Mileage Tracker was on the way for QuickBooks Online, not just 'Self-employed'. Since then we have had a lot of people say that Intuit has said, "no way, those people at Insightful Accountant don't know what they are talking about...", but the proof is in the puddin' and the puddin' is here folks (which do you want, Chocolate, or Butterscotch)?.
Mileage Tracker has in fact arrived for all versions of QuickBooks Online, it just took a little longer than expected.
Now for Liz's feature:
As Murph just said, Mileage Tracker has now arrived for all versions of QuickBooks Online (in the USA).
Did someone say deductions?
Tax deductions are the biggest reason we put ourselves through the torment of tracking mileage! And my belief is most small business owners miss out on mileage deductions because they resist keeping a mileage log.
But now all versions of QuickBooks Online has Mileage Tracking built-in at no additional cost making the job of tracking your mileage a breeze.
Keep More of Your Money!
The new mileage tracking app is designed to be easy to use and built directly into QuickBooks Online! What this means for small business owners is they will be able to keep more of their hard-earned cash. What the new QuickBooks Online Mileage Tracker means for accountants, is we do not need to worry about tracking down notebooks with handwritten mileage memos (if there is one). QuickBooks Online mileage tracker is valid for tax purposes even in cases of an audit.
How to Track you Mileage
Mileage Tracker uses GPS tracking, which makes it simple to track on your mobile device. The app allows you to sort the trips you take to categorize them as personal or business. It's easy to use:
(1) Turn on Auto-Track your Mileage to use your GPS to track your trips.
Turning-on your Mileage Tracker in the QBO App is easy just select 'Auto-tracking'.
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Mileage tracker begins tracking your trips with your phone's GPS, you will need to:
(2) Categorize each trip (with a swipe) as business or personal. (You can also add other key information easily.)
Easily categorize each trip as business or personal, then add any other information or details you feel help describe the trip.
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(3) Mileage tracker uses GPS information to compute distances and then applies the current IRS mileage rates to calculate trip costs.
Mileage Tracker is always accurate because it is based upon GPS mileage data and IRS mileage allowance values.
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Small business owners just want to simplify their lives, and accountants want to report accurately to the IRS. It's a great day when everybody can do both, it's like a great big present... thanks QuickBooks for giving us 'all' Mileage Tracker.
Disclosure: This article is not intended to be a detailed 'how to' on the use of the new Mileage Tracker feature for QuickBooks Online and the QuickBooks Online mobile app. Consult official Intuit reference materials for specific details regarding the feature.