What is the benefit of a fuel card?
Fuel cards saves time and improves efficiencies by reducing the paperwork around tracking fuel costs. Instead of keeping receipts for reimbursement, or finding all fuel-related expenses on a company card by year end for tax, it’s all done for you by the fuel card provider in an ATO ready report.
Benefits common to most fuel card providers include:
- Track vehicle usage
- Fraud protection
- Purchase food & drinks (at fuel stations)
- Charging vehicle servicing & repair costs
Depending on the provider, some allow long interest-free periods which can improve cashflow as it acts like a credit card, however failure to pay on time also incurs the same financial penalties as a credit card.