HDS Fuel Cards
Manage and track fuel expenses automatically with the HDS Fuel Card, the perfect solution for large companies.
How HDS Fuel Card works:
- When employees buy fuel from the designated chain of gasoline stations they pay with their company fuel card.
- Each employee declares his/her mileage online.
- The gas station chain sends a monthly invoice containing fuel card number, type of fuel, volume and cost.
- The monthly invoice is uploaded into the system.
- The data from the employees’ mileage declarations are matched to the electronic invoice sent by the gas company.
- An administrator verifies the employee declarations, which are then reconciled with the invoice amounts. The system provides a detailed breakdown for approval to the appropriate managers.
- The system then consolidates this information.
- Automatic accounting transactions including cost allocation are prepared and sent to the ERP system.
Benefits of using HDS Fuel Card
Verify mileage and ensure appropriate employee use of company car combing through the information from the monthly invoice and the declared mileage.
Control fuel consumption
Analysis shows mileage and number of liters accrued per employee and calculates actual consumption compared to standard consumption for the car.
Accelerates analysis and approval of fuel invoice
Without a system the analysis and approval of a invoice that includes hundreds of fuels cards can rtake many weeks. The system ensures quick analysis , approval and accounting of the expenses. Thus it ensures on time payment to the fuel company as well as timely accounting of the expenditure in company’s accounts.
Simplify accounting process
The system prepares accounting data and sends it to the ERP system.
In order to fulfill statutory requirements and claim VAT as an expense, Merck needs to have detailed, reliable reporting of fuel expenditures for their fleet of 500 company cars, which is a large expense for the company. The system goes away with manual approval, allowing managers to review and approve the mileage reports online.