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Journal entry for mileage expense

  • 15-01-2014 6:28am
    #1
    JKM
    Registered Users, Registered Users 2 Posts: 171 ✭✭


    Hi,

    Wondering if someone could clarify the journal entry to be made for mileage expense? A per km amount is being used, rather than actual petrol/maintenance expenses, for use of the sole traders personal car. I am pretty sure it is Dr. Mileage Expense and Cr. Personal Drawings but just want to double check.

    Cheers


Comments

  • #2
    Legend100
    Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    ......you do know sole traders cannot claim mileage as an expense I hope!!!
    only actual costs incurred

    mileage expenses are only available to employees/company directors


  • #3
    JKM
    Registered Users, Registered Users 2 Posts: 171 ✭✭JKM


    Legend100 wrote: »
    ......you do know sole traders cannot claim mileage as an expense I hope!!!
    only actual costs incurred

    mileage expenses are only available to employees/company directors

    ......i didn't know that, hence the question!!!

    Thanks for the very pleasant and informative reply though....


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