Managing Fuel expense

Accounting
1

Hi.

I started my own business as a sole trader 2 weeks ago and today I made my first proper expense (exciting times?!). It was for fuel for my car. I paid £25 via my Business Debt Card. However I use my car for both personal and business use and I was therefore advised to track my mileage using a “mileage tracker log” differentiating miles for business and personal.

My Business is a Cleaning Company. So I already deposit my money in bulk each week and then assign to a holding account before paying off invoice individually.

How do I then embed my fuel into Quickfile? Which is the best way to manage fuel for me?

Thanks,
Paul

2

Hi @PaulD

Exciting times indeed! :slight_smile:

I should start by saying, I’m not an accountant so I recommend checking anything you’re unsure about that’s accounting related with them

However, in regards to recording the expenses you can create a ‘Fuel’ supplier and logging invoices for them. We have a guide on this here which looks at this in more detail, so I recommend taking a look over this.

But of course, if you need any further help, please don’t hesitate to ask

3

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