Forum Message

Fuel card use

Hi,
We use a fuelcard for the business, how do I put in the discount we are given by the company, as the diesel receipts are a different amount to the money paid out by direct debit.


Posted by Carol Creek on Sep 5, 2009 6:30 PM BST

Hi Carol,

The simplest solution is just to record the fuel expense when paying the direct debit for the fuel card.

If you prefer to record the fueld expense when the fuel card is used, here's what you do:
1. Create a new liability called 'Fuel Card'
2. When you purchase fuel, record a Money Paid Out transaction from the Fuel Card to the Motor Expenses account.
3. When you receive a discount, record a Money Received transaction from the Motor Expenses account tothe Fuel Card account.
4. When you pay off the fuel card, record a bank transfer, similar to paying off a Mastercard:
http://www.solaraccounts.co.uk/help/how-to-record-a-bank-transfer.php

Cheers,


Posted by Mark McLaren (Solar Accounts) on Sep 6, 2009 11:37 AM BST