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Post Info TOPIC: Mileage allownace and sage
Michellegray


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Mileage allownace and sage
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Help needed please.

As a sole trader doing business miles of

1st Rate Per Mile (10000) £0.45
2nd rate after (10000 £0.25
For Period 01/08/12 to 04/04/12
Total Mileage 8899.31
Total Claimed £4,004.69

Firstly is this the correct calulation and secondly how do I enter this in sage. Is it a simple Jnl to Mileage allowance in PL and to Sole traders drawings account?

Thanks to all...

Michelle



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Robert Pearce


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Yes, the calculation's right (assuming that there was no business mileage between 6 April 2002 and 31 July 2012).  Should the period covered by the mileage claim be 01/08/12 to 04/04/13?

As you suggested, it would be posted as a journal entry on Sage (although I would tend to credit capital introduced rather than the drawings account).



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Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

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