1. A system for electronically recording and accounting for mileage of a motor vehicle comprising: a first input means for receiving input data from a user of the system; a display means connected to said first input means for displaying output data to the user; a processing means directly connected to said first input means and said display means for manipulating said input data received from the user and mileage data received from an odometer connected to the motor vehicle; a generation means for generating an electrical pulse to said processing means for each revolution of a cable, wherein said cable is connected to said odometer; a second input means connected directly to said processing means for receiving model number data and transmission data for the motor vehicle wherein said second input means comprises a series of dipswitches, said dipswitches having at least two positions; an output means connected to said processing means for storing said output data; a power means for providing electrical power to the system.