Mileage Allowance - Jounal or Supplier?

Support
1

Hello,

I am a Sole Trader.
I use a van for work, which i own personally and claim a 45p per mile allowance on my tax return.

When logging this in QuickFile i have seen 2 different methods advised:

  1. Set up a supplier and make payments to them.
  2. Make Journal entries to move the money.

Is there a "correct’ method, or does one way have any advantages over the other?

Thanks,
Mark.

2

I don’t do a lot of mileage and find it simpler to do a journal and fits better with my sense of logic (doing mileage doesn’t feel like supplier). As long as you put the details in and keep proper records I don’t think it matters which way if you’re happy with it. I guess if you had a staff member or more, then it would make sense to do supplier there, and therefore it might keep it all together to do yours there too.

3

Thanks for your reply.
Unless i get advice to the contrary i will continue to do as you suggest.

Thanks,

4

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