Kilometric Excel template - a simple way to keep records

Kilometric Excel template - a simple way to keep records

Introduction

Mileage log template XLS is an indispensable tool for entrepreneurs who want to correctly account for the costs of using a car in business and deduct VAT. In this article, you'll find a ready-made download and practical advice on how to keep your mileage in compliance.

A mileage record is a document that allows you to account for the use of a private or company car for business purposes. Mileage records are a key element for companies that account for the costs associated with the use of company vehicles.

Facilitates accounting and management of the vehicle fleet. Allows you to justify to the IRS the expenses associated with the operation of the vehicles, and requires the use of appropriate forms and forms to be submitted to the IRS.

It is an essential element for companies that account for costs related to the use of company vehicles. The obligation to keep records of vehicle mileage results from the provisions set forth in the VAT Act.

Vehicle mileage records

The mileage records should include information about the vehicle registration number, the start and end date of the records, the mileage status of the vehicle. Each trip should be accurately documented, with the purpose, route and number of kilometers driven.

Is a documentation to show how the car is used. By keeping records, we are able to deduct or reimburse expenses incurred by the entrepreneur for a car used exclusively in the company and for business purposes.

It serves primarily as documentation to show how the car is used. Each entry in the records should contain the required data, such as the entry number, date, purpose of the trip, route and driver's data, and be confirmed by the person driving the vehicle. The details of each entry are crucial for a correct tax return.

It allows us to effectively track mileage and calculate expenses related to the operation of the vehicle, including the amount of expenses that can be deducted. Such expenses we are entitled to include: business trips, fuel consumption, costs incurred as a result of servicing, as well as costs related to leasing. It is important to remember the difference between records for Vat purposes and records mileage private cars.

It allows you to monitor mileage and optimize travel costs. Both Excel spreadsheets and dedicated programs can be used to keep records, making it easy to automate the process.

Benefits of using mileage

The mileage meter allows for the deduction of VAT on vehicle operating expenses. It makes it easier to control operating expenses and VAT.

It makes it much easier to reduce the tax burden. It allows you to justify to the tax authorities the expenses associated with the operation of vehicles.

It enables efficient management of the vehicle fleet and optimization of transportation costs.

How to keep mileage records

Mileage records should be kept continuously and systematically. The records for vat purposes, kept by the entrepreneur, should include, among other things: the odometer reading, the date on which the statement was started, the entry number of the next trip, data on the trip including: data on the purpose of the trip, data on the route traveled by the vehicle, data on the person driving the vehicle, and data on the vehicle itself such as: make, model, registration number, current odometer reading.

Each distance driven should be recorded in the Mileage Statement Sheet so that it can be included in the monthly statement. The total value from the kilometers traveled is accounted for at annual rates.

The standard varies depending on the year and the type of vehicle and engine capacity, which is regulated by the relevant law.

Private vehicles used for business activities have different rates for each engine displacement. The established rates also include fuel consumption, during a one-kilometer driving route.

Records should be kept in accordance with tax requirements. An entrepreneur can keep mileage records in an excel spreadsheet, use software tailored for this accounting, and has the right to complete the printout in paper form.

It is worth remembering that there are exceptions to the obligation to keep mileage records. The regulations provide for situations in which certain types of vehicles or certain cases are exempt from this obligation. Thanks to these exceptions, it is possible, for example, to deduct 100% of VAT without having to keep mileage records, if the conditions specified in the regulations are met.

Excel record keeping template

Using a ready-made template for vehicle mileage records in Excel is a convenient solution for any entrepreneur who wants to efficiently manage accounts related to the use of a car. The template, available in XLSX or Google Sheets format, allows you to record all the necessary data on an ongoing basis, such as the vehicle registration number, the date when you started keeping records, the odometer and the number of kilometers driven. This makes it easy to control expenses related to the operation of the vehicle, including fuel, service or insurance costs, as well as to correctly account for VAT. The Excel formula allows you to quickly summarize monthly and annual costs, which significantly facilitates keeping records of vehicle mileage and preparing documentation for tax purposes.

If you are looking for a simple solution, our XLS template of vehicle mileage records is ideal. You can download the ready-made excel prepared by us by clicking on the image or use the ready-made solution which is mileage.net.

How to prepare a sheet for record keeping

To ensure that the Excel mileage log sheet meets all the requirements, it is worth taking care of its structure. First of all, you should include the entry number, the start and end date of the record, and the purpose of each business trip. The sheet should also include details of the route, the number of kilometers driven and the driver's data, such as name. A carefully prepared sheet makes it easy to track the mileage of a vehicle and ensures that VAT is deductible for operating expenses. Thanks to the clear structure of the vehicle mileage records in Excel, record-keeping becomes simpler and more efficient, and tax settlements comply with current regulations.

Best practices in record keeping

Systematicity and accuracy are the cornerstones of effective mileage records. It is a good idea to regularly update the odometer reading, record the start and end dates of record-keeping and the number of kilometers driven. Transparency of records facilitates subsequent accounting and avoids misunderstandings during a tax audit. Entrepreneurs should keep in mind exceptions, such as using the vehicle exclusively for business purposes, which allows full VAT deduction. It is also good practice to archive mileage records and regularly check that all data is in line with reality and current regulations. In this way, keeping mileage records becomes not only an obligation, but also a tool to support effective management of company costs.

Tips for users

To make keeping mileage records in Excel even simpler, it's a good idea to use ready-made templates, such as Kilometric Pattern Excel. They allow you to quickly start your records and customize them according to the individual needs of your business and the type of vehicle.

Before you start keeping records, it's a good idea to familiarize yourself with current regulations on VAT deductibility in order to take full advantage of the potential of mileage. It is also important to regularly update the data and ensure its completeness, which will facilitate later settlements. Awareness of the rights and obligations associated with the mileage record allows you to avoid mistakes and ensures that costs are properly accounted for in business activities.

Summary

A mileage log kept in Excel is an extremely important tool for entrepreneurs who want to properly account for costs associated with the use of vehicles in business and take advantage of VAT deductibility.

Systematic and accurate maintenance of mileage records allows not only to meet formal requirements, but also to optimize company expenses. Thanks to ready-made templates in Excel, each entrepreneur can easily adapt the records to his needs and type of vehicles, which translates into more efficient fleet management and minimization of operating costs. Regular maintenance of mileage records is the key to effective cost accounting and full utilization of tax benefits.