Anyone who has to drive for work knows that keeping a detailed record of mileage is a necessary, yet somewhat irritating aspect of their responsibilities. If employees driving company cars get reimbursed for fuel, will they always be honest with their mileage claim? In a recent audit of a UK SME we were able to prove overestimation In the Region of 71% with one journey overestimated by 1661%. Now this is extreme but still a real example.
For some employers and employees driving a personal car for business (grey fleet) can lead to questionable practices and cheating on your claim. More and more companies are looking to rein in costs, and mileage expenses are on the chopping block.
Business miles are defined simply as any miles accrued during any trip made for business purposes. This includes traveling to a client, going to a temporary work location, and making a trip to the bank or post office for official business. You are normally not allowed to count miles to and from work from you home.
So how can we get a fair and accurate record of mileage? How about using GPS? Fleet Innovations first offering its unique and ground-breaking product for tracking miles in a product called PEAK more than 3 years ago and since then has gone on to gain more than 800 customers and over 36,000 users.
When a customer signs up to join PEAK, they receive a Trip Stick, which is a small GPS device that is plugged into either a cigarette lighter or a 12 volt adapter in the car. Just plug it in, wait for the green light to start flashing and you are now recording miles. Simple. At the end of the month, plug the GPS stick into your computer, and load all of your trips into the www.Peakmiles.com system. Just select which trips are personal and which are business, and you are done. Super Simple. No questions asked, no notebooks to carry around, no looking for a pen or post it notes.
If you use your personal car for business, the PEAK GPS mileage tracking system allows you to accurately and easily record your business mileage for reporting on tax and expenses. PEAK will eliminate time and ambiguity related to accurate mileage expenses.
Some companies pay for the fuel and ask the employees to reimburse the company for any personal driving miles. For these employees, the PEAK system is perfect for recording their personal mileage and being able to accurately distinguish between business and personal miles.
With more than 800 customers with over 36,000 users PEAK is proven to work for any size of business with our smallest having just one car and our largest with more than 3000. No matter what size of the company, you can open an account and use this system, even if you are the only employee. Companies that use the Trip Stick are seeing savings of about 20% on their mileage reports.
As companies search for ways to save money, they are looking for innovative ways to monitor unnecessary expenses. For many companies, getting an accurate mileage claim is an effective way to reduce fuel and related fleet expenses. For individual proprietors, it is an accurate way to record expenses for tax purposes. By using GPS mileage tracking, everyone can save a little time and hassle.