Including your mileage and working from home allowances in QuickBooks Online (QBO) is my priority, and I'm here to share further details about this, @DaveDos.
In QBO, you can use the mileage tracker mobile app to efficiently record simplified expenses. It has a mileage calculator to track each journey and automate your deductions. To learn the best way to track business mileage, you can refer to this article: Claiming business mileage the easy way.
Then, to include your mileage and working from home allowance into our accounts, you'll need to create new ones from your Chart of Accounts (COA). I would encourage you to consult your tax advisor for advice to appropriately set up the accounts.
Whenever you're ready, follow these steps:
- Go to Accounting on the left menu.
- In the Chart of Accounts tab, click New in the upper-right corner.
- You can then select the correct type of account, the detail type, and any description as required ( as recommended by your accountant).
- Enter the name of your account (i.e., Mileage Allowance and Working from Home Allowance).
- Click Save and Close.
Also, to further guide you ways in calculating your mileage expenses and working from home allowances, I'd recommend checking out this page: Simplified Expenses Checker.
Please let me know in the comments if you have other tax allowances concerns in QBO. I'm always ready to help. Take care, and I wish you continued success, @DaveDos.
