“I don’t know what lies around the bend, but I’m going to believe that the best does.”
– Anne of Green Gables, L.M. Montgomery
Submitting mileage expenses can get a little complicated. When it comes to motor vehicle expenses, CRA has strict guidelines. Trying to keep everything in order can drive you around the bend! Here is an overview of CRA’s Motor Vehicle Expenses along with Motor Vehicle Records that CRA will expect to see if you plan to submit vehicle expenses.
We’ve been doing a little research here at The Art of Accounting, and listening to what some of our industry colleagues are saying about mileage tracking apps and we have found an interesting little gem to share with you! It may be time for you to turn the corner and discover an easier way of doing things.
We’ve done some test driving ourselves and this little beauty can track mileage (and other expenses that you have paid for with your personal funds) all in one place. To top it off, you can create detailed reports for remittance or add your accountant/bookkeeper to your account so that they access the data themselves and do the heavy lifting for you. Here are some of the convenient mileage tracking highlights that we have discovered:
- Everlance can be accessed via browser or app
- Easy to set up and user-friendly dashboard
- Option to use a no-frills free version or upgrade to premium at minimal cost. View Everlance Plans and Features.
- Manually log your trips or turn on the GPS and let the app do it for you. (Premium option: when your vehicle moves, mileage is tracked)
- Ability to identify trips as business, personal or other with just a swipe
- Android and iOS capabilities (but iOS has more features available)
- Pre-set settings for mileage rates, favourite places, and other details
- Online Help centre with user information and tips
Also of value and convenience is the expense tracking option:
- Manually add expenses with the option to attach photos of receipts
- Correctly class expenses directly from entry or re-class later
- Premium feature: connect bank and credit card accounts and simply identify imported transactions as personal or business for your reports
- Ability to pre-set conditions and accounts
Last, but certainly not least are the reporting capabilities (and this is where Premium is worth every penny):
- Produce reports with the touch of a button
- PDF option (Hubdoc friendly)
- Mileage reports are sent in a separate document from personal expense reports
- Pics of receipts automatically pull in to the reports
- You can enter the data and let your bookkeeper/accountant do all the reporting.
See…we told you it was a gem! Definitely worth taking a look at! Learn more about Everlance.
Need a little help getting started? Already a client of The Art of Accounting and want to add this to your current services? Whatever your needs, we can help you! Contact us today and let us know how we can be of service to you.