How a fuel card can help you keep on top of your small business accounts

20/04/2018

Finance

When keeping on top of your small business’ accounts, there are lots to be thinking about.

How a fuel card can help you keep on top of your small business accounts

When keeping on top of your small business’ accounts, there are lots to be thinking about. One thing that can play an important part in helping you stay on top of everything is a fuel card. There’s a whole host of fuel cards for small businesses, but why does your business need one?

Reduces Admin Time

When everything is in one easy to access place, it makes admin time a simple task. This means no time is wasted when sorting out the admin for your fleet. With a fuel card, no longer will drivers need to invoice you for the fuel they purchase, instead, you’ll just receive a single invoice from your fuel card company. This helps streamline your accounting process and reduce the amount of time spent collecting and refunding receipts.

24/7 access to accounts

Put yourself in the driver’s seat and access your accounts wherever and whenever you need to. This is extremely handy if you’re in and out of the office and need to grab information quickly. It can also help with admin time as it will streamline your process. For example, with fuelGenie you can log into your account anywhere you like and access all your account information.

Simplify the tax process

One of the reasons having fuel cards for small businesses is a good idea is because you’ll have all your VAT receipts in one place. No longer will receipts get lost getting from the driver to you. The invoice supplied by a fuel card service provider is already HMRC-approved which makes VAT reclaim much easier.

Accurate picture of fuel spend

Over time you’ll be able to build a pretty accurate picture of your fleets fuel expenditure, which will in turn, help you with budgeting. You can look into individual drivers or cards to see how much is being spent and where.

Are you using a fuel card to keep on top of your small business accounts? Let us know on Twitter or LinkedIn.

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