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1. • CommentAuthorgreg777
   • CommentTimeMar 25th 2008

    
   A company that owns a company car allows its employees and also the owner to use it.
   
   I was asked about an employee mileage reimbursable expense and also a reimbursable mileage expense for the owner.
   
   How do you record them ? Which accounts do you use ?
2. • CommentAuthorCountingGuru
   • CommentTimeMar 29th 2008

    
   Mileage is reimbursable at $0.485 per mile.
   
   http://www.gsa.gov/Portal/gsa/ep/contentView.do?contentId=9646&contentType=GSA_BASIC
   
   Reimbursement would cover normal tear/wear and gas. Therefore, as a standard practice, an employee cannot charge for these items additionally.
   
   Typically, 'Mileage reimbursements' would be tracked under 'Travel, meals and entertainment' category in the SGA section of the P&L.
   
   Part of proper internal controls, an employee expense report should be filled out by employee and approved by department manager noting trip, business purpose or project name, date, and mileage to calculate total.
3. • CommentAuthorchrysilizi
   • CommentTimeApr 8th 2008

    
   Ususally you have a G/L# set up it goes to (if they pay by credit card- check your chart of accounts)(i.e. van expense/mileage expense- or look at a previous G/L posting that shows a "mileage transaction") You could use petty cash or create a check requisition to pay it back, but you need to see a previous - similar - transaction (credit card statement G/L breakdown) , However, the site to figure the mileage rate is IRS.gov and it was increased this year to .505/mile (please check with IRS to make sure)