Every business that operates vehicles for use on company activity incurs fuel costs. The process of paying for fuel or reimbursing employees that pay on behalf of the company if time consuming for even the smallest of fleets.
Matching receipts, checking mileage rates, differentiating between business and private use are just some of the headaches fuel purchases create. If this is something you can relate to then a Fuel Card may well be the answer.
At Agility Fleet we have a range of Fuel Card solutions available to meet your individual needs.
How Does a Fuel Card Work?
Fuel cards can be either driver or vehicle specific or both. The card is used at the filling station, in the same way that a credit or debit card would be used to pay for fuel. The main difference would be that the driver would be asked for the vehicle mileage reading. Capturing mileage has a number of benefits detailed below.
The company receives a single consolidated invoice for all fuel purchases in the previous month with detailed reporting and analysis available.
Where private fuel is not paid by the company these reports can streamline expense claims and make deductions for private use simple and straightforward.
Benefits of Capturing Mileage Data
- Accurate recording of private/business use of vehicle
- Up to date current mileages enable Agility Fleet to pro-actively manage your vehicle contracts
- To avoid end of contract excess mileage charges or to reduce the monthly lease cost in the event of vehicles being under utilised
- To ensure vehicles are serviced on time
Other Benefits of Fuel Cards
- HMRC compliant
- Avoids the needs for driver/employee cash advances
- No more fuel receipts or petty cash to manage
- Claim 100% VAT back on business use fuel
- Improved control with advanced reporting
- Can tie in with vehicle telematics solutions
- Helps with Duty of Care and Driver Training as MPG data can be assessed with other driver behaviour data
- Increased fraud prevention as fuel cards are less prevalent to cloning that debit and credit cards.
- Some Fuel Cards can also be used to pay for servicing, lubricants or other consumables