Although your limited company accountant can help fill out and submit manyof your financial reports, you still need to keep detailed records of business mileage you are claiming against.
This is obviously something only you can keep track of as it’s your own business miles to record and can help to keep costs down when doing your limited company accounts.
This may be fine if you are doing very few miles, but in the event you are travelling far and wide, or simply travelling frequently, you may want to have a more robust system in place, rather than recalling miles from paper receipts and your memory. This is where modern technology can help you out, likely saving you time and money!
Want to know more? If you want to ditch the spreadsheets and want some ideas on where to go next, see our list of some highly rated mileage trackers that could help you and your limited company keep accurate records and save you time.
MileIQ
Most of the trackers on this page are app based as these provide simplicity of use and they are relative cost efficient as there is no need for additional hardware beyond a smartphone.
This app based tracker is hugely popular on the Apple and Google Play app stores and for good reason. It is downloadable onto a smartphone, it has an easy to use interface and it’s highly customisable. It also compiles your journeys and produces detailed reports allowing you to accurately track every mile travelled whilst driving. This reduces the need for you to ‘guestimate’ your exact mileage and ensures you can fully claim for your allowances depending on your personal or business circumstances.
Driversnote
Another notable app that uses your phones GPS for tracking is Driversnote. This app logs when you get in and out of your car, automatically registering your trip. You can also produce pdf and excel reports on your mobile or on your computer for easy submission for your limited company accounts.
Concur drive
SAP Concur produces a number of software programs for accountancy purposes so they have extensive expertise in this area. Concur moves more into the corporate business sector, with specific costings based on a variety of factors. Concur drive has extensive functionality and is capable of tracking your miles automatically and you can convert your mileage into submit-ready documents at the click of a button with Concur drive saving you time and money.
Autotrip
Although apps are convenient and cost-effective, there are still reasons why you might opt for a separate device to track your mileage. You may find mileage apps drain your battery, add business programs to a mobile you want to keep for personal use only, and you may travel in remote areas with low GPS detection. So, there are plenty of reasons to look at alternative tracking methods. This is where Autotrip comes in.
Autotrip is a GPS mileage tracker that can be fitted to any car and plugs directly into the OnBoard Diagnostics section of your car. This fitting doesn’t even require a specialist to complete. This reduces the need to have a continuously full mobile battery and allows you to relax knowing your miles are being tracked accurately.
Despite the additional device, Autotrip doesn’t cost considerably more than the app based trackers although you do need to pay for a year in advance. The device does come with a lifetime warranty so they really have made this as worry-free as possible.
There are a variety of options out there to help track your miles beyond the traditional spreadsheet recording. The app-based methods have high convenience and offer cheap monthly tracking at your fingertips. Alternatively, for those looking to rely less on their mobiles, fitted devices may be a more suitable alternative that are worth the small premium.
Whatever you decide, we hope that investigating these options helps save you time and money when doing your limited company accounts, so you can enjoy the better things in life.
