How To Ensure Your Fuel Receipts Meet IFTA Standards
Reporting fuel receipts may seem simple, but many carriers don't realize they need specific data on the receipt for IFTA compliance until they’re faced with an audit.
What Makes A Fuel Receipt IFTA Compliant?
To meet IFTA standards, fuel receipts must include five essential pieces of information: the address of where you refueled, total amount paid for fuel, price per gallon, total gallons purchased, and date of purchase.
Below, we provide guidance on how to ensure the necessary information for a fuel receipt is provided:
- The address of where you refueled.
Many fuel stations omit the address on receipts. If this information is missing, look up the station's address online and note it on your receipt.
- Requirements For Section One
The main required information for section one is the total amount you paid for fuel, price per gallon, total gallons purchased, and the date purchased. Some receipts omit price per gallon and gallons purchased, even with prepayment. Address this by asking for the price per gallon and recording the gallon total directly on the pump.
- Purchasing Bulk Fuel
Some people hate it; some people love it! If you deal with bulk fuel, record every gallon added to your tank, specifying the unit, gallons added, and transaction date. Merely summing up bulk fuel at the month's end won't suffice. Keep receipts for bulk fuel refueling, as they must be retained.
Ensure Accurate Fuel Receipt For IFTA Reporting
We understand that it's easy to overlook the requirements when reporting fuel taxes. That's why our team is here to assist you. We'll collaborate with you to ensure your fuel receipts contain the necessary information for accurate IFTA reporting.