Successful fuel management can be summed up in two well-known phrases. “The truth is out there” and “The devil is in the detail”.
The first rule of fuel management is ‘what you don’t know definitely will hurt you’. Bad things come from incomplete management information. Insufficient information leads to excessive fuel costs and needless administrative hassle.
It’s not enough just to record your vehicles’ annual mileages. Nor can you really understand fuel costs if you only see drivers’ expenses claims or forecourt receipts.
Here’s the data you need:
•What? Business mileage for each individual journey: the start point and end points, distance driven, date and reason(s) for travel. Why? For HMRC compliance, auditing mileage claims and analysing fuel cost/mpg.
• What? Overall private mileage for each expense period. Why? Reimbursing fuel costs, evaluating BIK Fuel, if provided.
• What? Fuel transaction data: vehicle registration, date, time, location, price, VAT detail, literage and type of fuel. Why? For analysing fuel costs and vehicle/driver performance analysis, monitoring for misuse.
Find out how TMC can help you cut your fuel bills, reduce your admin and give you robust information about your fleet HERE.