The old saying, "where there is smoke, there is fire" usually has some semblance of truth to it, that's why when you hear a rumor floating around at a conference like "mileage tracker will soon be available in ALL versions of QBO," it's probably best to not simply write it off as 'just another rumor,' but rather research it a bit.
Intuit first released mileage tracking in QuickBooks Self-Employed, significantly reducing the tedious chore of dealing with manual mileage logs when it comes to part of the year-end chores for preparing tax returns. There's just one problem with that... "why didn't they include it with every other versions of QuickBooks Online?" Both QBO users and accountants would like to know why 'we couldn't have it too' (in our other versions)? But now the answer is, "we can!"
Mileage Tracker
While in London, Intuit UK announced that they were incorporating 'Mileage tracker' into their version of QBO. So, I couldn't help but ask, "when is it rolling out in U.S. versions?" Well, the answer is simple, Intuit is announcing that Mileage Tracker will start rolling-out very soon across the entire U.S. QBO product line-up.
While Mileage Tracker has already tracked over 1.4 billion miles in business travel around the world already, finding customers more than 560 million (in multiple currencies) in savings in the form of tax deductions; it is on its way to your QBO to also help you and your clients with the exact same mileage tracking and savings, using automatic GPS tracking.
If you have not used the mileage tracking feature in QBSE or MileIQ directly, you will be pleasantly surprised at how easy it is to use. Setup is very simple. Because the App sits on your phone and tracks mileage based on GPS, each time you drive, a trip is recorded. Later, the trip can be marked as either work or personal. If the trip is work, then the expense is computed, created and recorded in your QuickBooks Online.
Additional Features of QuickBooks Mileage Tracker:
- Does not drain your battery through use of a patented technology
- On average, 45% more deductions are logged
- Accuracy is automatic by use of GPS
- Mileage summary can be printed out as a PDF
- Manual trips can be added if and when necessary
- Mileage expenses can be added to any job invoice for reimbursement
What a relief - by automating this time-consuming task, small business owners get to save money as well as their sanity. If you don’t have mileage tracking available yet, don’t worry - it is being rolled out in waves and you will see it seen in your QuickBooks Online.
Thanks Intuit, for giving us all a feature that we desperately wanted and needed.