Mileage expenses represent the costs associated with business-related travel using personal vehicles. Exporting these expenses from Fyle to QuickBooks Desktop is crucial for accurate financial record-keeping, tax reporting, and efficient expense management. It ensures that every mile traveled for business purposes is accounted for, enhancing financial transparency and compliance.
Mileage expenses are recorded using the mileage module in Fyle. Unlike reimbursable and corporate credit card expenses, employees typically do not categorize mileage expenses since it's a separate module.
The Fyle-QuickBooks Desktop integration relies on specific category names since it is an IIF file based integration. Currently, mileage expenses are auto-categorized as 'Mileage,' a system category and not a user-defined one, which poses a challenge to export mileage expenses to the required account in QuickBooks Desktop.
To export mileage expenses to the respective account in QuickBooks Desktop, the admins can now configure the account to which all mileage expenses should be exported. Here are the steps:
Log in to Fyle with your admin credentials and Open Fyle-QuickBooks Desktop Integration (found in Admin Settings -> Integration -> Native Apps -> QuickBooks Desktop).
Go to Configuration -> Export Settings -> Export Reimbursable Expenses.
In the field labeled 'To which account should the Mileage expenses be posted to?' enter the desired QuickBooks Desktop account name. (Ensure the account name matches your QuickBooks Desktop setup exactly)
Save the configuration.
All future mileage expenses exported as IIF from Fyle will be associated with the configured account in QuickBooks Desktop. This streamlined process simplifies mileage expense export, maintaining data accuracy and compliance.
If you need any assistance setting this up, please reach out to us at [email protected].