If you have employees that regularly use personal vehicles for work, you probably have a system for reimbursing mileage. How well does this system work? If it involves paper logs, you can be sure that the answer is not very well. In addition to the potential for intentional misreporting, paper mileage logs come with several other drawbacks. They can be damaged or altered, and data can be incorrectly entered into your accounting system.
Even if you use a digital reporting system, if it relies on employees to self-report, you could be paying more than you should be for mileage reimbursements. The most reliable solution is a vehicle tracking system that will allow you to gather objective mileage data.
Using Vehicle Tracking Systems for Mileage Reimbursement
There are many benefits to using a GPS tracking system for more accurate mileage reporting:
- Make it easy for employees to report mileage – A small, unobtrusive GPS unit in an employee vehicle is a powerful tool that can make it much easier for employees to report mileage. In some cases, they might not need to do anything at all.
- Get accurate mileage data – Employers benefit by knowing that they are not paying more than they should. This system also has advantages for employees because they can be confident that they’ll be reimbursed for every work-related mile.
- Streamline the mileage reimbursement process – Administrative staff no longer have to wait for employees to submit mileage reports. Simply run a report on the driver’s history over a period of time and you’ll have all the information you need.
- Enjoy the other benefits of vehicle tracking systems – Mileage reimbursement is just one of the many operational tasks that can be simplified with vehicle tracking systems. You can also integrate fuel cards, dispatch drivers more efficiently, create geofences around territories, add landmarks, generate the most efficient routes, and much more.
Remember, business owners are also eligible for mileage reimbursement, so don’t forget to include your own vehicle when you consider the benefits of GPS tracking. An accurate log is also better for tax reporting purposes.
If you are interested in vehicle tracking systems for mileage reimbursement or any other reason, contact the experts at GPSTrackIt. We can help you evaluate your needs and recommend a system that has all the features you need. View the video demos today to learn more about all that our vehicle tracking systems have to offer.
How do you currently track mileage for reimbursement? Does your system work?