Monthly Statements for Your Accountant: Chauffeur Records

Most chauffeurs didn't get into the business to do paperwork. But at the end of the year, someone has to answer simple questions: how much did you earn, from whom, and what did it cost you? If your farm-out work came through text messages, bank transfers with vague references and the odd cash payment, those questions take a weekend to answer, and the answers are guesses.

LimoFarmOut produces a statement every month that answers them for you. This guide explains what's in it, how to get it and how to hand it to your accountant or bookkeeper in a form they'll thank you for.

Where to find your statements

In the app, go to My account → Earnings → Statements. From there you can:

• Download any month as a spreadsheet file.
• Have a month emailed to you.

On top of that, a statement is emailed to you automatically on the 1st of every month, so last month's records arrive without you asking.

The file is a standard spreadsheet format that opens in Excel, Google Sheets or Numbers, and that most accounting packages can import.

What a statement contains

A statement lists everything you did on the platform in that period, in up to three sections, depending on how you use LimoFarmOut.

Trips you drove.

For each trip you drove:

• the trip date and job number
• the city and type of service
• who posted it
• the currency
• the payout, and the amount paid to you
• the status, and the date it was paid

Totals at the bottom show the number of trips and the amounts, per currency.

Instant cash-outs.

If you used instant cash-out, each one is listed with the date, the currency, the amount sent to your card and the $2 fee. That makes the fee easy to record as a cost, and it explains why your bank deposits don't always match your payouts one to one.

Jobs you posted.

If you farm out work, each job you posted is listed with:

• the trip date, job number, city, service and driver
• the currency
• the driver payout
• the platform fee, before tax
• any tax charged on the fee, and its label (for example HST or VAT)
• the total charged, any amount refunded, and the net amount you paid
• the status

Totals per currency are included here too. If you chose "I drive and farm out", you'll see both your driving income and your farm-out costs on one statement, in separate sections.

Why these records are useful

A statement doesn't do your taxes, but it gives your accountant clean source records. A few examples of how they help:

• Income matches deposits. Each payout has a job number and a paid date, so it can be matched to a deposit from Stripe in your bank account.
• Fees are separated. Platform fees on jobs you posted are shown net of tax, with the tax on the fee on its own line. Instant cash-out fees are listed separately.
• Refunds are visible. Cancelled or partly refunded jobs show what was charged and what came back, so your costs aren't overstated.
• Currencies stay separate. If you work across countries, totals are kept per currency instead of being blended into one confusing number.

The terms are clear that drivers are responsible for their own taxes, including any sales or value-added tax on their services. LimoFarmOut charges tax only on its own platform fee where that applies, and never on your payout. How your income is taxed depends on your country and your business structure, so ask a qualified accountant.

A simple monthly routine

Ten minutes on the first working day of the month keeps the year painless:

1. Open the statement email that arrives on the 1st and save the file in a folder for that year.
2. Match the payouts to the Stripe deposits in your bank account.
3. Add your own costs for the month: fuel, parking and toll receipts, car washes, phone. Extras such as parking and tolls you added through the platform appear in your payouts; keep the receipts with the month's statement.
4. Send the file to your bookkeeper, or upload it to your accounting software.
5. Note anything odd, such as a job under dispute, and check it next month.

Tax authorities expect you to keep records that support your income and expenses. The US IRS has a guide to recordkeeping for small businesses, and the UK government explains what records self-employed people must keep. Your local rules may differ.

How long records are kept

If you delete your account, your profile is erased, but payment records are kept as the law requires. Even so, download your statements regularly and keep your own copies. Your accountant will want them for years after a trip was driven.

Paperwork is easier when payments are on-platform

Statements only show jobs paid through LimoFarmOut. That is one more reason the terms require all payment for platform jobs to go through the platform: a side payment for a platform job is prohibited, and it also leaves a hole in your records. For more on how the money moves before it reaches a statement, read prepaid farm-out explained and Stripe payouts for chauffeurs.

Need a car for a client outside your area?

If a client of yours needs a chauffeur in a city you don't cover, you can book one here.

Chauffeur booker

Book a chauffeur in any city

Airport transfers, hourly cars and point-to-point trips with LimousineWorldwide.Directory member operators. Choose the vehicle, see the price and book in a few steps.

Further reading

The help centre answers questions about statements, payouts and documents. On this blog: tips and gratuity for farm-out chauffeurs, which also appear in your payouts, and the true cost of farming out a limo trip.

Frequently asked questions

Where do I find my LimoFarmOut statements?

Go to My account → Earnings → Statements. You can download any month as a spreadsheet or have it emailed, and a statement is also emailed on the 1st of every month.

What format is the statement in?

It's a spreadsheet file that opens in common spreadsheet programs and can be imported into most accounting packages.

Does the statement show platform fees and tax?

For jobs you posted, it shows the driver payout, the platform fee before tax, any tax on the fee with its label, the total charged, refunds and the net amount paid.

Are instant cash-out fees listed?

Yes. Each instant cash-out is listed with the amount sent to your card and the $2 fee.

Does LimoFarmOut handle my taxes?

No. Drivers are responsible for their own taxes. The statement gives you and your accountant clear records to work from.

Keep your books clean from the first trip

Sign up free as a driver and every prepaid job you drive lands on a monthly statement, ready for your accountant.