Use Fuel Cards to Save Money
Posted by Temple Stark
at October 1st
This economy has been hard on small business owners, especially those with fleets to maintain. With the rising cost of gasoline, it has become harder than ever to keep company truck or car tanks filled.
Unfortunately, many business owners write this off as the cost of doing business when they could use a fuel card and enjoy significant cash savings.
The right fuel card will allow you to restrict its purchases to gasoline. The idea of handing a driver a company credit card offers them the opportunity to buy unauthorized items in the gas station store. Unlikely, but it happens often enough. With a fleet card, you can guarantee that every dime spent on the card is being put into the company vehicle either in the form of repairs, or gas in the tank.
The detailed online reporting offered by fleet cards allows you the unique ability to track purchases by specific drivers or vehicles. Looking at your truck’s itinerary will tell you approximately how many miles it should have been driven, and you can see whether the amount of money put on the fuel card is appropriate for the vehicle’s travel needs.
Many businesses require the drivers to pay for their own fuel for the day or week and then cut them reimbursement checks. If this is you, think about how many hours you spend out of each week just sorting through receipts and cutting those checks. With a fleet card, you will replace those hours with something more productive so you can continue to build your business. A fuel card is a great way to have peace of mind in knowing that your company’s money is being spent to build your company.
Now perhaps you are a small business owner and you think, “I only have a couple of vehicles, and a fleet card sounds like only bigger companies can use it.” Not true. In order for your small business to qualify for a fleet card, all you need is two company vehicles. So these opportunities are not just for large shipping companies, but for florists and bakers as well.