Thu, 26 September 2019
The burden of administration incurred through managing a business with a mobile workforce is a hefty one to bear, especially for small and medium businesses where managers often take on multiple roles at once.
The average time spent on administration is approximately 33 hours a month, which works out roughly at 4.5 days dedicated to dealing with paperwork. This is time that could be better spent out on the road, meeting clients, or creating new business relationships.
You can regain that time and save money by making one simple change to how you pay for your business fuel. Fuel cards offer a variety of benefits which can take the pressure off administration tasks, such as VAT reclaiming and dealing with fuel expenses.
Managing fuel expenses with a paper-receipt or a pay and reclaim system is time consuming for everyone involved. Drivers have to pay out of their own pocket, keep receipts, fill in and submit expense forms and then wait for reimbursement. Managers have to spend time processing and checking claims and then ensure payment is made. Then there is also the issue of lost or missing receipts to contend with.
Fuel cards replace this entire system with a more streamlined method which is also safer and more convenient for drivers. They use the cards to make fuel payments, meaning no more carrying huge amounts of cash, no receipts, and no expense forms. This also combats against false claims of business fuel. With fuel cards all transactions are immediately recorded on an online account management platform and those can be viewed on one easy-to-read invoice. The best fuel card providers also give you free and unlimited access to historical invoices.
Another paperwork nightmare and time-consuming task is the collection of VAT. With a paper based receipt system this can mean hours spent trawling over hundreds of stored receipts. Receipts get misplaced, lost, or are unreadable, and will mean not being able to reclaim the full amount due.
With fuel cards and account management, all business fuel transactions are automatically detailed on a single, easy-to-read invoice, compliant with HMRC or the EU 6th Directive for hassle-free VAT reclaiming.
When choosing a fuel card, it can be beneficial to opt for one which provides a service station locator tool. This is especially useful for efficient route planning, with details of suitable refuelling stations along the selected route, and real-time traffic updates. These tools help drivers avoid congestion, and long detours to refuel, saving time and reducing fuel usage and spend.
The best fuel cards will be provided with an online account management platform that can be accessed from any internet enabled device. This means you don’t have to be tied to a desk to manage your vehicles or fuel spend. Accessibility via tablet, or mobile phone with a downloadable app means that you can stay in control while on the move, or on site.
Read more about the benefits of fuel cards for your business.
Having fuel cards can save your business money, do your driver fuel expenses claims automatically and make it a 30-second job to reclaim your fuel VAT. As a free comparison site, iCompario can find you offers on cards from all the big oil companies or multi-brand cards, and deals with no minimum purchase or tie-in contracts.