4 Benefits of a Business Fuel Card Account
Posted on: 25 September 2017
If you operate a business which has a large fleet of vehicles, you may find that managing and paying for the fuel they need on a daily basis consumes quite a large chunk of your administrators' time and energy. However, it does not need to be this way. Business fuel card accounts offer many benefits. Check out the guide below which details everything a fuel card can do for your business.
Save Money
Many fuel card suppliers will offer their customers a discount on the fuel buy. This is because the fuel you buy using a business card will be priced at a fixed wholesale price, rather than the fluctuating price which is displayed on the pump. The wholesale price is typically much cheaper than the lowest price found at a gas pump.
Save Time
Keeping track of the many individual receipts for each transaction carried out when your employees fill up their tanks at gas stations can be difficult. Your employees may lose their receipts. Even if you manage to compile a complete set of receipts, it can still take many hours to check and calculate the total amount spent. With a business fuel card, you do not need to worry about any of this. Instead, you will receive one monthly statement which details all of the fuel your employees have purchased using the card in the proceeding month. This statement can be submitted as part of your tax returns, which makes things nice and easy.
Increased Monitoring
The statement you receive from the business fuel card supplier will also contain a breakdown of the fuel used by each vehicle. This will allow you to easily spot vehicles which are using more fuel than they should be, driving up your cost. If you spot that this is happening, you can have the vehicle inspected so it can be repaired so that it is fuel efficient again.
Increased Safety
A business fuel card will remove the need for your drivers to carry large amounts of cash with them, as they will be able to pay for their fuel by inserting the card and entering a PIN number. This reduces the chance that your drivers will be targeted by thieves while they are filling up their cars or trucks.
If you would like to find out more about the benefits of a business fuel card, you should contact a fuel card supplier today.
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