You can categorise your mileage against the category: Mileage Expense [Travel / Meals / Entertainment] - 15300 Vehicles. You should assign the correct VAT so it will appear on your VAT return, and then you can claim it back.
If you used the Mileage Expense category, it will have been assigned to the 15300 Vehicles account. Expenses related to vehicles might not show up directly as mileage expenses but rather as depreciation or amortization on the vehicles themselves. This is common if you own the vehicles and are accounting for their decrease in value over time.
If you want your 'Mileage' to appear as an expense on your Profit and Loss Report, follow the steps below to create a new category:
- Enable 'Show accountancy information' from 'Your Profile' > 'Preferences'
- From the 'Chart of Accounts' page, press 'New account'
- Name the new account 'MILEAGE ACCOUNT'
- Select 'Account Type': Expenses:
- Allow Business Finance Assistant to auto-populate the other fields
- Go back to your Bank Transactions page and overwrite the words in the 'Category' field with MILEAGE
- Select the 'New Category for 57001 MILEAGE ACCOUNT':
- Assign the new category to the appropriate Parent-Account:
- Categorise and confirm the bank transaction with the new category
- Your Mileage expense will now appear on your Profit and Loss as an expense to the company:
To avoid confusion, please disable the old 'Mileage Expense' category by selecting 'Customise Categories' from the drop-down menu of categories on the bank transactions page.
- Press 'Disable' to disable the category:
