As we countdown to a new year, don’t forget to update your mileage rate according to the new IRS standard! Beginning January 1, 2019, the business standard mileage rate in the US will be 58 cents per mile, up from 54.5 cents per mile in 2018. Check out IRS.gov for more details.
How to Update Mileage Rates in Expensify
For Policy Admins
Update the rates for your Company Policy by going to Settings > Policies > Group > [Policy Name] > Expenses. Scroll down to the Distance section to enter a new mileage reimbursement rate.
For Employees and Individuals
If you’re on an individual policy, click on your profile icon on the upper left corner and select Settings > Policies > Individual > [Policy Name] > Expenses. Scroll down to the Distance section to enter a new mileage reimbursement rate.
This new rate will be applied to all expenses and policies created after the rate has been changed, but won’t apply retroactively to unsubmitted expense reports.
Cheers to the road ahead! 🥂
P.S. New to tracking business mileage? Learn how here!
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