How to Add Vehicles in Quickbooks

QuickBooks provides a business vehicle mileage tracker that you can use to track information regarding the vehicles, maintaining costs, and tally business mileage records. It maintains records of total miles and business miles that help you in deducts your vehicle expenses on your tax return. It makes your depreciation records and your vehicle mileage rates.

How to Add Vehicles in Quickbooks Pro

1: First, choose the “company” menu of QB’S and select “vehicle mileage”.
2: Select a vehicle list from the vehicle list window.
3: Select the “vehicle menu” and “New”.
4: Enter the name of the vehicle, including its model number, year, license number and company-specific number, and VIN number.
5: Click “ok” and save the vehicle description.

Advantages

1: It maintains up to date records of every mileage transactions, provides mileage readings, and calculate the total mileage from start to end date.
2: Quickbooks provides 4 different mileage reports such as vehicle details, vehicle summary, job details, and job summary.
3: It lists users with IRS mileage rates and updates it.
4: It enhanced Double-entry bookkeeping so that, you can calculate account balance from any account.
5: It provides you the option to “add employee information” in order to reimburse the traveling expenses.
6: Users also may track office equipment from the “Fixed Asset Item List”

CONCLUSION

It doesn’t maintain regular reports of vehicles, but also tracks transactions related to the serial number and purchase order number, etc. It also provides you depreciation records, which helps you most during paying taxes.