Data capture & sharing costs with drivers vital to managing fuel expenditure, reports ACFO conference
The advice came from Paul Jackson, managing director of The Miles Consultancy, who told seminar delegates that data gathered from numerous sources – odometers, telematics, fuel cards, drivers’ expenses, fuel receipts, shared trips and other vehicle information – was critical in building up a “proper picture” of fuel expenditure.
But Jackson, who founded the fuel card and mileage expense management specialist, said: “In our experience that is not happening. It is rare that drivers get to see their fuel spend. Hundreds and may be thousands of companies don’t show their drivers what they spend.”
He urged: “Make sure drivers see how much they spend on fuel because that will stop a lot of fuel fraud that is happening. Drivers will recognise if their fuel card has been cloned.”
Viewing a comprehensive picture of fuel expenditure and sharing it with drivers would, said Jackson, ensure that any errors became apparent delivering potentially tens of thousands of pounds worth of savings to companies depending on the size of their fleet.
Suggesting that giving drivers visibility of fuel spend created a process of “self-auditing”, Jackson explained that HM Revenue and Customs (HMRC) was becoming increasingly active in ensuring compliance with journey management and fuel reimbursement rules.
He warned: “Businesses must ensure that data is available to HMRC inspectors immediately. If employers spend two months trying to find and compile the data HMRC will know that it has not been checked. Regular capture and audit of mileage and fuel receipts is essential.”