How to: Edit the Business Rate and Distance Unit (CAN)

The reimbursement rate that is used to calculate the value of business drives can be changed from the Settings page of the MileIQ dashboard. The distance unit that drives are reported in can be changed from the same Rates & Units section. You can log into your dashboard (same email and password as the app) at the MileIQ web dashboard (dashboard.mileiq.com). 

Once logged in to the dashboard, click on the Settings button next to your username to go to the Settings page. There you can set a custom business rate or set how distances are reported (kilometres or miles).

canadian_settings.png 

Edit the business rate:

From the Rates & Units section of the Settings page, a custom rate can be set for calculating the value of business classified mileage. The default (for 2017) is $0.54 per kilometre for the first 5,000 kilometres driven; for every kilometre after that, it's $0.48; but by clicking and typing in the text box, any amount can be entered. (Note: rate must be greater than $0.00). Clicking 'Update Rate' will set the new rate throughout MileIQ. Any reports that are submitted will also reflect the updated rate.  

canadian_rates.png

Notes: 

  • The business rate can also be edited anytime a report is run. From the drive dashboard, select any number of classified drives and then choose the green button "Report # drives" from the bottom right. Doing so will give you report options, including where to export and some fields to enter report details, such as business rate. 
  • Adjusting the business rate when reporting drives will only be applied to the drives in current report. Use the Settings page to set a new default rate.
  • For Canada users, the default automobile allowance rates in MileIQ are set to match the rates set by the CRA. The rate for 2016 and 2017 business drives is $0.54 per kilometer for the first 5,000 kilometres driven; for every kilometre after that, it's $0.48. In the Northwest Territories, Yukon, and Nunavut, there is an additional 4¢ per kilometre allowed for travel. For more information on CRA automobile allowance rates, please see: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/tmbl/llwnc/rts-eng.html.
  • Check out more on the IQ Blog: How Self-Employed Can Deduct Mileage in Canada

The unit MileIQ uses to calculate distance are set to kilometres by default. However, the distance unit can be changed from Kilometres (KM) to Miles by changing the 'Use Metric Units (km) for Distance' option to "No". To switch back from miles to kilometres, simply set the option to "Yes".

canadian_kilometers.png

Selecting a new distance unit will be cause MileIQ to re-calculate the distance (and therefore the value) of all drives in MileIQ. Any reports that are submitted will also reflect the new distance unit.

Was this article helpful?
0 out of 0 found this helpful