Standard mileage rate
In accounting, standard mileage rate means the cents-per-mile figure the IRS publishes for business use of a car, which an employer may use to reimburse mileage. It is dated: the trip date picks the rate, not the day the claim is entered.
Also called Mileage rate.
Authority: IRS — Standard mileage rates (opens in a new tab). Sources
The lesson that teaches this
From the free founder back-office course, taught on one company's books, with exercises to work it yourself.
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
What it is not called
Each of these means something else. Use one here and an accountant reading the product notices.
- per diem
- actual vehicle cost
Nearby in the catalog
No component names this concept outright. These sit in the same part of the system.
Also in Payables
Defined in Lexicon. This page is generated from that document, so the two can't disagree.