Okay, you downloaded the app.
Get set up—it won’t take long. Personalize your settings to meet your business and tax reporting needs.
Then start using the app!
Come back here to see how features work and best practice to make the most of them.
Different countries and different drivers have different accounting and tax reporting needs. Check with a tax professional* to decide how you can customize and best use iDrive for your business situation.
Check out each topic area—click each + to see topic details.
why do you need the iDrive app?
what to do to set up iDrive
how to use iDrive while driving a shift
how to use iDrive to manage your business
iDrive tips for success
Why do you NEED the FREE iDrive app?
You want to Make MORE Money!
Claim Tax Deductible Expenses
What do you do to set up iDrive?
Select a few settings on your phone and within the app!
There are slight differences between Android and iPhone setup.
1. Check Your Phone Settings
Are Phone permissions ON?
2. Set Up Your iDrive App
STEP 1. Add Your Name
STEP 2. Your Accounting Settings
STEP 3. Your Personal Settings
STEP 4. Your Car’s Name
Head to Vehicle Details under Settings. Two cars are displayed by default, tap to activate and edit that vehicle.
1. Tap a car icon to select (and edit) that vehicle
2. Add a Vehicle name
That’s the minimum needed for iDrive to capture your shift records.
3. Add vehicle details (if you want to)
4. Add more vehicles (if you need to)
5. Delete any vehicle (if you want to)
6. Add a picture of your car (especially helpful if you have more than one)
Ride share driving with more than one car? Set up each car. Swipe to select the car you’re currently driving from the main screen when you start a shift.
STEP 5. Odometer Reading
iDrive tracks your shift mileage as you drive—a tax record MUST have.
The app uses FY Starting and FY Ending odometer readings to calculate the Business Use % of your car.
Take pictures of your odometer readings and save them with your tax records, on the last day of the quarter if you file taxes quarterly. TIP: Include the reading in the name of the image for quick reference.
3 Ways to Use the iDrive App
Some drivers want to keep the business of ride share driving as easy as possible. At tax time, they claim deductible car expenses using the government’s standard mileage rate.
But most drivers want to make as much money as possible. They track every business expense to get the biggest tax break… and to better understand how to run their business more efficiently.
Whichever approach you use, it’s all pretty easy once you get yourself into a routine. iDrive makes the recordkeeping process as painless and automatic as possible!
How do you use iDrive while driving a shift?
How you intend to claim business expenses at tax time determines how you’ll want to use iDrive.
Easiest—Use Standard Mileage Tax Rate
Simple—Track & Claim Deductible Expenses
Pro—Analyze Tracked Mileage, Expense, & Fare Info
1. EASIEST—Use Standard Mileage Tax Rate
At tax time, taking any business expense deduction—even the standard government rate—is better than taking none at all. If all you do is turn the app on when you start driving a shift and turn it off when you’re finished, iDrive records key information for every shift—including your Total Shift Mileage.
To calculate deductible expense for tax purposes, simply multiply your business mileage (Total Shift Mileage plus any other business-related trip mileage you’ve recorded) times the tax authority’s standard mileage rate (varies by country).
In the US, IRS allows you to claim $.535/mile for 2017 and $.54/mile for 2018, for as many business miles as you drove. NOTE: Some countries limit mileage amounts that can use this approach—know your country’s rules. (For example, in Australia, the logbook method must be used when mileage is greater than 5000 kms.)
2. SIMPLE—Track & Claim % of ALL Deductible Expenses
In addition to using the EASIEST iDrive steps to record your Total Shift Mileage (app ON, drive, app OFF), you’ll do 2 more things:
iDrive uses your Total Shift Mileage and the odometer readings to calculate how much of your driving was for the business and how much was personal—the Business Use % of vehicle use.
The Business Use % times your actual expense is the amount you can deduct from your income to reduce the amount of tax you owe—tax deductible expense. This record keeping approach usually results in a greater tax deduction than if you use the standard tax rate calculation. Track all expenses throughout the year and at tax time, decide whether the standard rate or expense approach gives you the biggest deduction. Pay less tax, make more money!
It’s important to record every expense. Each time you buy fuel, whether you’re currently driving a shift or not, add the purchase and take a picture of the receipt. Added app feature: if you consistently update the odometer when you buy fuel, iDrive calculates your car’s fuel efficiency.
Add other purchases (maintenance, insurance, etc.) at any time from the Records screen. Add as much or as little detail as you want.
Oops. Need to edit a record? The All Expense Log includes the fuel expense entries, edit them from there.
Swipe the header to select a month. View the monthly expense total at the top of the list or in graph format.
Want to know more? Go Pro—it’s still FREE!
3. PRO—Analyze Tracked Mileage, Expense & Fare Info
So how is your shift going? If you really want to know, use the PRO routine every time you drive. iDrive’s tracking your mileage and you’re already adding your expenses and receipts.
Now set a goal when you turn on iDrive and start a shift—add targets for $$$ and time.
Add fare information (at least $$ and distance) during the shift.
See how you’re doing! The main screen tells you:
- Total earnings entered
- Shift time
- Total distance
- Cost based on standard tax rate
- Progress toward Target$ goal
- $/hour (gross earnings)
- Target shift time remaining (or overtime)
- Driving efficiency
The app records shift details: date, time, locations, total shift mileage, and all expenses entered. Add odometer readings and iDrive calculates the business use of your car.
How to use iDrive to manage your business…
It’s all about maximizing profit. Review your results and ask yourself:
- What can I do to increase earnings (get more or bigger fares?)
- How can I spend less?
- Have I captured and claimed every tax deductible expense?
BACKUP the iDrive App
BACKUP the iDrive app as often as it feels right to you. Once a month? Once a year?
It takes just a few minutes for iDrive to create a backup file in your cloud account. This special file includes all records on your phone as well as a copy of the app itself with your custom settings.
Why bother? If you need to replace your phone, simply download your backup to your new phone—your app is up and running exactly where you left off.
TAX RECORDS: Save Driving Records Off Your Phone
TAX RECORDS: Save Receipt Images Off Your Phone
In Excel: Total Shift Mileage
In Excel: Expense Totals
More Accounting Options
More iDrive tips for business success…
Run Your Business Like a Business
Join Local Facebook Groups!
Open 2 Bank Accounts: Separate Earnings from Tax Owed
Use 1 Debit/Credit Card for Business Expenses
Take a Pic of Odometer Readings
Check Out Fuel Discount Options
*We’ve created a great tool to help with your bookkeeping but we’re in the software business, we can’t give you tax advice. Every country’s tax laws are different. Every driver’s tax situation is different. See your accountant to discuss your specific business needs. If you use iDrive diligently, your reports should provide the bookkeeping records required for most business accounting and tax reporting situations.