A vehicle mileage log is a spreadsheet document used to track a vehicle’s mileage. There are many reasons for keeping a vehicle mileage log. Usually, a mileage log is used by businesses that want to keep track of the mileage of their business vehicles.
In business, recording mileage is helpful for calculating the amount of tax to be paid, claiming reimbursement, and much more. It is the easiest way to calculate the mileage of both personal and business vehicles.
A good mileage log can be made easily by adding the details needed to calculate the mileage effectively. A good mileage log should include the purpose of the trip as well as the total distance covered. It should also include the places the vehicle traveled to. Making a good mileage log requires serious effort.
The user should keep an eye on the odometer and note down the date on which each odometer reading is recorded. This way, the number of days covered by the mileage log can be seen.
Create a sample mileage log using the tool below:
Vehicle Mileage Log
Record each trip with its odometer readings and purpose. The log works out distance, business-use percentage and your mileage claim as you type.
Vehicle & Driver
Units & Odometer
Both readings are optional. With them, the business-use percentage is measured against all driving, including trips you did not log.
Claim Rates
Enter the rates published by your tax authority for the right year. Commute and Personal trips are never claimed.
Trips are sorted by date and odometer. Distance is the end reading minus the start reading. New trips start at the end reading of your latest trip.
Report Notes
Mileage Log for Personal Records
It should be noted that a mileage log does not always have to be used for business purposes. It can also be used to record personal mileage data. Many people want to keep track of their vehicle’s mileage to know how efficiently it runs over long distances.
Some people also use a personal mileage log to know when their vehicle needs servicing. Anyone interested in keeping track of mileage should keep a receipt or a notebook where the mileage can be noted before the odometer is reset.
Mileage Log for Office Employees
A mileage log is also used by office employees when preparing expense reports. Employees use this log to let the company know the total expenses incurred during their travel so that they can apply for reimbursement.
Some employees use the mileage log as part of their expense report, while others prepare a separate log when mileage is the main item they need to explain when asking for reimbursement. Employees should fill out this log carefully because the company may conduct inquiries to check whether the mileage has been calculated correctly.
Mileage Log for Reimbursement
One of the main purposes of preparing a mileage log is reimbursement. Reimbursement is very important in any organization, and it requires documents and proof of expenses to be presented to the employer.
Employees are required to record their mileage whenever they use a vehicle for business work. The starting and ending mileage, details of the places visited, and the purpose of using the vehicle should be recorded in the mileage log so that all expenses can be reimbursed.
The reimbursement of all expenses depends on the figures recorded in the mileage log, so all calculations in the log should be completely accurate. It should be kept in mind that the employee does not have the right to deduct travel expenses. The employee is only required to track the mileage, and the rest will be handled by the company.
Mileage Log for Taxes
A mileage log is widely used for calculating tax. This has become one of its most important and beneficial uses. People who use their vehicles for business purposes can get tax relief by deducting certain vehicle-related expenses from their taxable income.
However, these deductions can only be claimed for business travel, such as driving from your workplace to a client’s office or another business location. They do not cover the miles driven while commuting from your home to your office. By deducting eligible vehicle costs from their income, vehicle owners can reduce the amount of tax they have to pay. This is why an accurate mileage log is essential at tax time.
Blank Mileage Logs
Many blank mileage logs are available on the internet for anyone to use. These logs come empty, and the user fills in the required information so that the calculations can be done. A blank mileage log is very useful because users can add or remove details according to their needs.
Mileage Log as a Mileage Calculator
A mileage log is not only a sheet for recording mileage. It can also include a built-in calculator that performs calculations based on the information provided. A mileage calculator is one of the most effective tools for getting accurate results without having to work out every mileage figure by hand.
The calculator allows anyone to use the log, whether they have any expertise or not. It performs calculations quickly and accurately, so there is very little chance of errors. It also saves time for users who want all their mileage calculations done in no time.
Mileage Log Template for MS Excel
A mileage log template is the best tool for speeding up the process of recording mileage. A mileage tracker is usually prepared as an MS Excel file. You can start entering values at the beginning of the month and easily print the template at the end of the month. By then, the template will automatically have calculated everything, including the total mileage.
The Excel spreadsheet contains many columns where you can record the different details needed to track vehicle mileage.
Using a template is beneficial in many ways. A customizable mileage log template has built-in formulas that calculate every detail related to mileage. Complex calculations for tax deductions and reimbursement can be done easily with a template. Moreover, the template is easy to customize, so users can add or remove details according to their needs.
