Effective management of fuel expenses is crucial for businesses that rely on vehicle fleets. The ExxonMobil BusinessPro™ fleet card offers a comprehensive solution, providing detailed tracking, customizable controls, and streamlined administrative processes. A key component of leveraging these benefits is understanding the card's billing and payment cycles. This knowledge ensures timely payments, maximizes rebate potential, and maintains smooth financial operations.
Billing Cycle Overview
The ExxonMobil BusinessPro card operates on a structured billing cycle, typically spanning 30 days. During this period, all transactions made with the fleet card are recorded and compiled into a consolidated statement. It's important to note that billing cycles may not align perfectly with calendar months, so businesses should monitor their specific cycle dates.
Invoice Generation and Components
At the end of each billing cycle, an invoice is generated, detailing all transactions made during that period. This invoice includes essential information such as:
Transaction Details: A comprehensive list of all fuel purchases, including dates, locations, amounts, and the specific vehicles or drivers associated with each transaction.
Total Amount Due: The aggregate sum of all transactions, representing the total payment required for that billing cycle.
Payment Due Date: The deadline by which the payment must be received to avoid late fees or penalties.
Businesses can access these invoices through the ExxonMobil BusinessPro online portal, facilitating easy review and record-keeping.
Payment Process and Methods
To maintain a good standing and ensure uninterrupted use of the fleet card, timely payment of the invoice is essential. ExxonMobil offers several payment methods to accommodate different business preferences:
Online Payments: Through the ExxonMobil BusinessPro online portal, businesses can make secure electronic payments, ensuring quick processing and convenience.
Automated Clearing House (ACH) Transfers: Direct bank transfers can be arranged, allowing for seamless and automated payments directly from a business bank account.
Traditional Mail: For those who prefer, payments can be sent via check through traditional mail, though this method requires additional processing time.
It's advisable to schedule payments in advance of the due date to account for any processing delays, especially when using mail services.
Rebate Calculation and Application
One of the attractive features of the ExxonMobil BusinessPro card is the fuel rebate program. Rebates are calculated based on the volume of fuel purchased at Exxon and Mobil stations during the billing cycle:
• 1–500 gallons: 1¢ per gallon
• 500–3,999 gallons: 3¢ per gallon
• 4,000–6,999 gallons: 4¢ per gallon
• 7,000–9,999 gallons: 5¢ per gallon
• 10,000+ gallons: 6¢ per gallon
These rebates are applied as credits on the subsequent billing statement, effectively reducing the total amount due. It's important to note that rebates are contingent upon timely payment of the invoice; late payments may result in forfeiture of earned rebates.
Late Payments and Consequences
Failure to pay the invoice by the specified due date can lead to several consequences:
Late Fees: Additional charges may be applied to the outstanding balance, increasing the total amount owed.
Suspension of Card Privileges: Persistent late payments can result in temporary suspension or permanent cancellation of fleet card privileges, disrupting business operations.
Impact on Credit Standing: Late or missed payments can negatively affect the business's credit rating, potentially hindering future financing opportunities.
To avoid these issues, it's crucial to adhere to the payment schedule and ensure funds are available for timely payment.
Monitoring and Managing Account Activity
The ExxonMobil BusinessPro online portal offers robust tools for monitoring and managing account activity:
Real-Time Transaction Tracking: View transactions as they occur, providing immediate insight into spending patterns.
Customizable Alerts: Set up notifications for specific events, such as approaching credit limits or unusual spending activity.
Detailed Reporting: Generate reports that analyze fuel usage, spending trends, and driver behavior, aiding in informed decision-making.
Regularly reviewing account activity helps in identifying discrepancies, managing budgets, and optimizing fuel expenditure.
Integration with Accounting Systems
To streamline financial management, the ExxonMobil BusinessPro card's data can be integrated with various accounting software systems. This integration allows for automatic synchronization of transaction data, reducing manual entry errors and saving administrative time. By eliminating the need for paper receipts and manual reconciliations, businesses can achieve greater efficiency and accuracy in their financial reporting.
Security Measures in Payment Processing
Ensuring the security of financial transactions is a priority for ExxonMobil. The BusinessPro card incorporates several security features:
Driver Identification Numbers (Driver IDs): Each driver is assigned a unique ID, required at the point of sale to authorize transactions.
Odometer Readings: Drivers must input vehicle odometer readings during each transaction, aiding in monitoring vehicle usage and detecting anomalies.
Mobile Payment Options: The DriverDash mobile app allows for secure, contactless payments, reducing the risk of card skimming and fraud.