Tracking Fuel Inventory

Tracking Fuel Inventory

Using the RTA Fleet Management Software to track the Fuel Inventory for your pumps and tanks can help you get a handle on fuel leakage, theft, or reporting problems. To track Fuel Inventory, add Fuel Types, Tanks, and Pumps as needed. Then follow the eight steps to fueling.

Eight Steps to Tracking Fuel Inventory

  1. Record Fuel Purchases.
  2. Record Fuel Transactions (up to the time of the Stick and Meter Readings). Refer to “Fuel Entry” for instructions.
  3. Review Open Fuel Transactions.
  4. Make corrections as needed.
  5. Process Open Fuel Transactions (i.e. post to Pumps and Tanks).
  6. Record Pump Meter Readings.
  7. Record Tank Stick Readings.
  8. Review Variance Reports.

Tips for Tracking Fuel Inventory

  • Set a specific cutoff point and perform steps 6 and 7 at the same time. For example, set a schedule to gather meter and stick readings at 10:00 a.m. daily or weekly every Monday. Keeping a consistent schedule simplifies the process.
  • Make sure the entries for fuel purchases and fuel transactions do not extend beyond the cutoff point.
  • Follow the eight steps in order.
  • Repeat steps 1 – 3 as many times as needed to record entries up to the cutoff point. For example, if you are not able to input all fuel transactions before the end of the day, you can come back to step 2 the next day to enter the remaining fuel transactions.
  • Process steps 4 – 6 one time only prior to checking for fuel variances.