Mileage is a key expense for many sellers. It is tracked separately from the main other expenses screen for ease of accounting.
On the mileage page, you can add, import, edit and delete mileage expenses.
This page contains the following sortable columns:
• Round Trip Miles
• Mileage Expense
Adding Mileage Expenses Manually
Clicking ADD brings up the window below where you can choose the date the mileage expense occurred, the description and the number of miles driven. The number of miles is then multiplied by the current IRS mileage rate and converted to a dollar amount for the expense to be recorded.
*Example, the 2018 mileage rate is $0.545 per mile. If you change to a past year, that year's mileage rate will reflect.
This information will be added to the Reports>Profit and Loss in the Other section at the bottom. These amounts are not used in the net profit or loss calculations, and are only displayed for your information.
Importing Mileage Expenses
! Unlike importing into Inventory or Accounting, importing into Mileage is an ADD ONLY capability. It will not update data already in your Mileage. I.E.: If you export your Mileage, make changes, and reimport it back in, you will end up with duplicate entries for everything.
When you import into Mileage, your CSV file should contain 3 columns which will correspond to:
- Round Trip Miles
The mileage expense will be automatically calculated based on the year's mileage rate upon import.
Click on the Import button:
Select the .csv file from your computer that contains the mileage data you would like to import and click Next. On the next screen, match the fields in InventoryLab to the columns in your .csv file and click Next.
That’s it! You should now receive an Import Success message. It can take up to 20 minutes for the import items to appear.