Fuel card invoicing: how does it work?

Simplified invoicing is one of the many benefits brought by fuel cards, and certainly not the least appealing. Indeed, these cards make it possible for users to completely get rid of the expense account system as long as fuel is concerned, and it can be a terrible burden for some companies.

Indeed, with an expense account system, company accountants have to:

• Collect all receipts,
• Check if the expense claimed is related to a professional need,
• Check which business trip it was for,
• Compute VAT...

The whole process is extremely time-consuming and gives rise to mistakes in many organisations. The fuel card system and centralised invoicing eliminates most of these tasks and risks.

The principle is a simple one: all payments for fuel are centralised on one single invoice, and that invoice is sent to companies at the agreed intervals, usually on a weekly or biweekly basis. Some card issuers may charge fees if a particular demand does conflict with the agreed conditions.

Fuel card invoices also include the amount of commissions owed to the card issuer, which are also contract-based. It represents a percentage of the total amount of payments made with the card.

All invoicing information is made available on online platforms. Data helps users evaluate fuel consumption for every specific vehicle in the fleet with great detail, make a real cost analysis and optimise fleet management, and have a clear view of VAT owed at any point in time. Toll fees, parking fees or insurance fees may also be included.

Fuel cards are not really expensive and they are tremendously useful to optimise fuel expenses. Companeo helps all interested companies finding the right partner, by giving them access to a tool which makes it easy to receive fuel card quotes from select providers.