Every business owner, no matter how small, must keep good records. But whether it’s keeping track of mileage, documenting expenses, or separating personal from business use, keeping up with paperwork is a seemingly never ending job.
No matter how good your intentions are in January, the chances are good that by summer that mileage log is looking a bit empty. Even worse, you could be avoiding tracking your mileage altogether–and missing out on tax deductions and credits that could save your business money at tax time.
The good news is that there are a number of phone applications (apps) that could help you track those pesky business miles. Most of these apps are useful for tracking and reporting expenses, mileage and billable time. They use GPS to track mileage, allow you to track receipts, choose the mileage type (Business, Charitable, Medical, Moving, Personal), and produce formatted reports (IRS compliant HTML and CSV tax return reports) that are easy to generate and share with your CPA, EA, or tax advisor.
Here are three popular apps that help you track your business mileage:
TripLog – Mileage Log Tracker
Works with: Android and iPhone
What it does: Tracks vehicle mileage and locations using GPS
Useful Features:
Automatic start when plugged into power or connected to a Bluetooth device and driving more than five mph
Reads your vehicle’s odometer from OBD-II scan tools
Syncs data between the web service and multiple mobile devices
Supports commercial trucks including per diem allowance, state-by-state mileage for IFTA fuel tax reports, and DEF fuel purchases and gas mileage
Track My Mileage
Works with: Android and iPhone
What it does: Keeps track of mileage for business or personal use
Useful Features:
Provides mileage rates used to calculate the deductible costs of operating your automobile
Allows you to group your trips by client
Tracks multiple drivers and vehicles tracking
Localized and translated into more than 20 languages
BizXpenseTracker
Works with: iPhone and iPad
What it does: Tracks mileage, as well as expenses and billable time
Useful Features:
Allows you to choose which way you want to track your mileage
Remembers Frequent trips
Creates reports in PDF format or CSV for importing into Excel
Ability to email your reports and photo receipts
Call the office today if you have any questions about using apps that track business mileage or need help choosing the right one for your business needs.