How to budget a project how to budget a business

13Apr/1215

Budget Setting

project lifecycle Budget Setting

Do Fleet Cards Help You Save Money On Fuelc

Do you know if your company needs a fleet cardc Do you even know how a fleet card can help you reduce your overall fuel expensesc Well, finding the right fleet card or making the decision to switch to a fleet card is a difficult one. But it does not need to be. As a business owner or a fleet manager, you have a great deal on your mind. Between meeting your short term budget, setting your long term goals and getting some work done, the idea of a fleet card many not even be on your radar. But a fleet card can make all the difference – especially when it some to minimizing your fuel and maintenance costs.

Before fleet cards, businesses had to track their budget to the very last penny. Drivers would walk in, say the vehicle is low on fuel and would be handed a large sum of money to fuel the vehicle. You then had a lot of paperwork and hardly any control. This method was utilized by many but it was certainly not the most cost-efficient way of doing business. First of all, there was and still is a very high risk when handing someone large sums of cash for fuel purchases. It is true that the business may request that a receipt be returned, but if the driver is going to be on the road for a while, there is a chance that he could loose or misplace the receipts. This creates a problem for the driver because he or she cannot prove that the fuel was put into the company vehicle.

Benefits of fleet cards

A fleet card can keep both employer and employee free from the suspicion as it records all transactions; therefore companies are no longer dependent on drivers for fuel receipts. In addition, fleet cards can help protect against fraudulent activity as they have certain security features built into them. For example, certain fleet cards can only be used at certain gas stations designated by the business owner and other fleet cards require the employee to enter the mileage of the vehicle on the gas pump’s keypad or present the card to the store clerk. So, if a receipt is lost, there is a record of the purchase on the card and the mileage of the vehicle. These controls will discourage anyone from using the card for their own personal vehicle because anything that looks suspicious about the mileage can be investigated in real time since fleet managers have access to a system which allows them to pull reports as soon as the transactions are made.

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Saving money with fleet cards

There are a number of ways in which fleet cards can save you money on the rising fuel costs. First, the driver does not have to be sent out on the road with large sums of money and risk the chance of losing it or being robbed. If a fleet card is lost, the card can be immediately disabled so that no one else can use it, and therefore no money is lost. The card can then be replaced quite quickly, and business can continue without interruption.

Second, the fleet manager can place limits on the card. They can either limit how much fuel is being purchased or they can make the card valid only on certain days of the week therefore excluding weekends if no business is conducted on weekends. This will also prevent unauthorized use and will allow drivers to manage their fuel consumption better. Better fuel consumption can also be accomplished by finding shorter routes or finding routes that are more fuel-efficient.

These are just some of the ways in which fleet cards can save you money on the rising fuel costs and provide greater security than cash. Great reporting features and cost savings are just some of the reasons why a fleet card will save you money on the rising fuel costs. So just imagine, no receipt stacks, no mileage reports, no reimbursement checks. With the right fleet card, you can track your company’s fuel purchases or spending summaries online, and even block unauthorized purchases. The right fleet card puts the power in your hands, and a fleet card selector tool can put the right fleet card in your company’s wallet.

About the author: Fleet cards can save your company money by helping to reduce overall fuel expenses. This can lead to greater profitability for your organization.

Source: http://www.isnare.com/?aid=246921&ca=Automotive




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Comments (15) Trackbacks (0)
  1. Is there any useful books about budget setting when working in a matrix management structure?

    • I have never seen any books specifically on budget setting for matrix organisation.

      Normal Budgeting by Objective / Resource Budgeting principle should still apply.

  2. When setting a budget, how do i know what percentage of taxes to take out?
    I’m trying to set up my budget and it asks for with holdings. I’m paid hourly so it’s different every paycheck so what (average) percentage should i use?

    • Take two or three of your paychecks – take your net pay divide by your gross. That will give you the %’age you are taking home. It should be similar even if you are hourly. Then you will be able to see what %’age you are having deducted from your check.

  3. How do I go about setting a budget?
    I want to set up a budget for me and my boyfriend. How do I go about doing that on microsoft excel. We can hardly save money and I think, that setting a budget would work best.

  4. What is the first step in setting up a budget?
    I am 40-something and have never used a budget. How do I go about setting one up and using it. My income varies by huge amounts.

    • Alright, setting up a budget is simple, it’s sticking to one that’s hard.

      First I would look at a simple program such as Microsoft Works, there are several ways to set up a budget in there. Since your income is variable you will have to average it for the month. The same holds try for bills such as property tax/insurance (annual payments), you simply divide the annual amount by 12 for the average monthly expense.

      This whole process is very simple it’s what we refer to in banking the income statement. You can balance your budget by utilizing the method above or some of the ways the other people mentioned. Once you’ve set up your budget you can then take that and use it to project your future saving/spending capacity.

      There are many programs out there that will help with setting up a budget, I mention Microsoft Works because it is very simple to use. If you are more experienced in programs such as excel then you can easily create one yourself. Good luck, hope this helps.

  5. Guidelines for setting up a budget carrier?, what I need to set up a budget carrier?
    I wish to set up a budget carrier in my home country Nigeria given that there is a huge potential for this kind of services. I need advise on on how to go about it. what i need to do as well as how to finance the project.

    • Buy some pigeons or steal them from the town cent re and they ll fly around the world for bird seed !!! and a very good profit !!!

  6. Did congress ever propose setting a budget to fix the national debt?
    Did congress ever propose setting a budget to fix the national debt?

    • Yes, the Republicans have made two attempts to start the process this year, but Prince Harry has refused to bring it to a vote. And Bill Clinton did NOT fix the national debt, he only balanced the budget (sorta). .,.

  7. What behavioral problems are associated with setting a budget too loosely?
    1. What behavioral problems are associated with setting a budget too loosely?

    2. What behavioral problems are associated with establishing conflicting goals within the budget?

    3.Give an example of conflicting goals in a budgeting process.

    4.Outline the benefits and drawbacks of top down budgeting and participatory budgeting

  8. What does setting the house budget do in Fable 2?
    So is it better if you set the budget up way high or way low or what? Thanks for answering, if you did.

    • The house budget is how much money you give your spouse for a day, it’s like their allowance. If you go into the start menu and go to Quests/Maps and then to Family and highlight your wife/husband, you should be able to see how much they would like for their “Desired Daily Upkeep”.

      Setting the budget at how much they want will make their Upkeep status Fine, doubling it will make them Happy and tripling will make them Very Happy. How happy your spouse is affects how often they give you gifts. If you give your spouse a good amount of allowance, that will keep them happy for a long time, which is important because then they wouldn’t want to have a divorce with you if you were gone questing for a long period of time.

      Basically, setting the house budget determines how happy your spouse is, and is a means of keeping their love for you or making them leave you.


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