How to Make an Accurate Mileage Log for All Purposes
When working with business trips or any other job that requires tracking mileage, recording all mileage logs and deducting them from personal trips can be complicated. The mileage log is the perfect solution, so you don’t need to constantly check and remember all the values.
There are numerous types of templates, and each one reflects a different business necessity. From logs for yearly business miles to single-trip logs, they all fit different purposes, and choosing the right one is vital.
In this article, we will show you the main types of car mileage log documents and how you can create your own template, whether for business mileage or personal use. Follow all the steps carefully to ensure a precise document that is optimized and reflects your needs.
How to Make an Accurate Mileage Log for All Purposes
What Is a Mileage Log Template
The mileage log is a document specifically designed to keep track of your total mileage and other important details, such as the breakdown of personal and business use. It is a crucial tool for companies and drivers who frequently engage in trips and personal rides. By using a mileage log book, you can efficiently record and manage this information.
Whether for small business owners or big trip companies, mileage tracking is essential, and having a document for this task serves several business purposes.
Why Having Mileage Log Templates is Important
There are numerous reasons why business owners and people in general like to create a mileage tracker form for their jobs and personal trips. The first one is directly related to tax deductions.
Keeping a log of your traveled miles, along with other relevant information, is indispensable if you plan on asking for mileage reimbursement. Also, keeping a mileage log is excellent for planning on periodical mechanical maintenance of the vehicle used.
It is vital that you keep your car in good condition when using it as your primary work tool, and the best way to do it is through regular maintenance. With a printable mileage log or a mileage tracker app, you can precisely plan when these periodic actions are needed.
What Is Mileage Deduction
If you already work in the trip and private ride business, you know what mileage deductions are. But if you don’t, here is a simple explanation:
The IRS stipulates that those who use their cars for business are entitled to a tax deduction with a value reflecting their business expenses. Of course, the IRS requires that you track miles and some extra information to ensure you’ll receive a fair discount in tax time.
In 2023, the IRS stipulated that you could deduct mileage equivalent to 65 cents per mile traveled on business-related driving. To be entitled to the discount, it is crucial that you present an IRS mileage log with precise odometer readings and all the required information about your business expense on each trip.
How to Create a Mileage Log Document
Now that you know what a mileage log is and why it is important to have one, it is time to see how you can create your own spreadsheet for this task. Follow all the steps below carefully, and you’ll end up with a precise document that can be used not only for tax deductions but also to keep a register of all important information for your business.
Here are the main categories that should be listed in a business mileage log:
List of Business Trips
The first item of your mileage log template will be a complete list of all trips done for business purposes. The document doesn’t require a specific order for the items, so you can list them how you prefer.
Although it’s not strictly necessary, we recommend doing this listing chronologically. This makes it easier to find a specific item and makes the template look more organized.
Trip Date
Highlighting the date each trip occurred is also essential if you want to use the document for legal purposes, like mileage deduction. Another reason for listing the dates is to precisely evaluate the number of trips in a specific period.
Having this organization will help you calculate your total miles and increase the chances of being eligible for tax returns on the trips.
Purpose of the Trip
Depending on your business type, you should also register the purpose of each trip. This serves as identification and also as proof when filling out the IRS mileage log.
The trip purpose identification is important because not all trips are eligible for a discount. If you list the reason for each one, you’ll have a more accurate discount when applying for the business mileage deduction. In businesses like Uber driving, this information is not necessary.
Starting and Ending Points
Along with the trip dates, you must also highlight each trip’s starting and ending point. This information will be paired with the other ones, like total miles and cost for discount evaluation.
It also makes it easier to identify which trip it regards since you can have multiple rides on the same date, for example. Make sure to include this data when building your mileage tracker form properly.
You should also separate them into two fields for a more organized result. The first field will be where the trip started, and the second will be the destination or where it actually ended, depending on what happened.
Starting and Ending Mileage
The core of a mileage tracker will obviously be the mileage values registered by the odometer. It is crucial that you list the precise mileage recorded by the vehicle right before the trip starts.
This will make it easier for you to calculate the total mileage traveled at the end of the trip. You’ll also register the exact value appearing on the odometer when the trip ends. With this, you just need to apply the formula, and you’ll have the total mileage of each trip you did.
The formula is: Ending Mileage - Starting Mileage = Total Mileage
Total Costs
Each trip will generate a different cost for the business and vehicle owner. This field is dedicated to listing all these costs. Everything should be listed along with the price of each item, from gas fill to any minor value directly related to the job in question. It will help when calculating data like net profit and future expenses, for example.
Where to Create a Mileage Log Document
There are numerous options if you’re looking for a tool to create your own mileage logs. From known software to specialized programs, each one has its features to help with this task.
Among all the options available, we highly recommend using Microsoft Excel for this kind of document. MS Excel not only has the best tools and automation features but is also an industry standard. This means you won’t need extra software to complete this and other tasks on your business.
If you don’t have a Microsoft Office activation key, you can find one at RoyalCDKeys for a considerably lower price. This way, you will not only have access to all package programs but also save money.
Free Mileage Log Template
If you don’t want to create your business mileage log from scratch, there is no problem. Here are some free templates you can download and edit using Excel to better fit your needs.
Make sure to choose a base template that reflects your objectives. This way, you can get the best results out of them.
Here are some examples you can download:
Template #1
Simple business mileage template featuring all main categories. The document also features space for the company logo at the top.
Template #2
Uber mileage log template. Document dedicated to registering information regarding the mileage of Uber rides.
Template #3
Minimalistic mileage log document. A spreadsheet featuring all the necessary categories can be used for any kind of business travel.
Time to Start Your Mileage Tracking
Mileage tracking is essential, whether for business purposes or just to track personal expenses. If done correctly, the document can grant significant savings during tax time and other activities.
Since the mileage log can have multiple objectives and purposes, it is vital that you choose a template that reflects your goals. This way, you’ll have the proper categories and information to help you achieve them.
Now that you know everything you need, it is time to start building a template to track your mileage. Following all the steps above correctly, your template will generate a positive impact when filing taxes or simply tracking your expenses.