While fuel cards can be utilised in a variety of sectors and businesses, taxi drivers and vehicle services are particularly fond of them. All types of drivers may use fuel card services to streamline their administration and expenses without building a new system or interrupting their operations, from sole traders to major vehicle companies.
Fuel cards: all you need to know
At its most basic level, a fuel card is a credit card solely used to pay for gasoline and diesel fuel. However, there are also fuel cards that may be used with hybrid and electric cars. Because fuel is an unavoidable business expenditure, having a system in place to simplify fuel bills can help you save time and money.
Instead of paying for business fuel using a personal card or cash, drivers receive their own fuel card, fill it up as usual, and the company account is invoiced immediately. If you have several drivers, the fuel payments all go into one account and appear on a single HMRC-compliant invoice, making it considerably easier to clear your fuel expenditures than reimbursing each driver individually.
You can view your card usage and see where each motorist refuelled, when they replenished and how much it cost them on your fuel card statement. With this information, you can better control your fuel expenditures and guarantee that your business remains productive every minute your drivers are on the road. This minimises the time required on administration when reimbursing various cost accounts, and your drivers no longer need to keep track of fuel receipts.
Fuel cards can be used at any fuel station in the card’s network, including supermarkets, premium branded fuel stations, highway stops, and smaller local branded stations.
Being able to refuel using your fuel card without having to deviate off route, wasting time, fuel, and money, is extremely valuable for taxis and car services, as it allows you to spend more time on the road making billable journeys for customers rather than wasting precious minutes looking for a fuel site. FuelCards.com is constantly expanding its network and improving its service for all its clients, including taxis and driver services.
Taxi Drivers’ Benefits from Fuel Cards
Because their job includes travelling about and carrying people from one point to another, taxi drivers naturally spend a lot of money on petrol or diesel for their vehicles. So because the great majority of cab drivers are self-employed sole traders, keeping costs low and productivity high is vital to increase revenues and profits. Fuel cards may be an effective tool for this aspect of your business since they allow you to spend more time working and less time thinking about business fuel costs. Fuel cards for taxi drivers are an excellent method to keep track of all personal and company fuel costs.
If you have recently invested in a company car, why not enquire about fuel cards to help your operations run more smoothly? Fuelcards.com are a leading fuel card supplier in the UK and Ireland and help many business fleets. Get in touch today to see what we can do for your business.