How to Track Fuel Inventory

by Michelle Hogan

If you do a lot of deliveries, use a lot of fuel to run machines or use fuel in other capacities in your business, it's important to know just how much fuel you have on hand and where it is going. Dramatic changes in fuel use can indicate either a mechanical problem or an employee issue, where company vehicles are being used for personal travel. Extra usage also can indicate that an employee may be stealing gas. Keeping an accurate and consistent fuel inventory is essential to properly managing this expense.

1. Determine how much you fuel you currently have on hand by examining the gauges of any on-site fuel tanks and recording the results.

2. Note how much fuel you purchase every time a fuel truck makes a delivery to your company. If your company uses different types of fuels, such as oil and gas, note the different types.

3. Log how much fuel each vehicle or machine takes when an employee fills up the tank. Note the odometer reading of the vehicle and calculate the gas mileage upon the vehicle's return.

4. Compare the vehicle's fuel usage with estimated mileage to get to appointments, and make sure the vehicle is being used only for business purposes.

5. Monitor the gas mileage on all vehicles in your company's fleet. A change in gas mileage could indicate a mechanical problem or the need for a tune-up.

6. Track usage on a day-to-day basis, noting which days are more fuel intensive than others. It's important to know this so that you can maintain your fuel inventory at an appropriate level. Running out of fuel before your busiest day can be a disaster for your business.

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