Retailer without PayCycle
Retailer with PayCycle
Pay-Cycle Features for Retailers
- PayCycle reduces the time you have to spend checking and paying invoices
- PayCycle is free to use for all Independent Bike Dealers, you can join today with no commitment.
- Your money is 100% secure at all times (all Payments are covered by your own banks Direct Debit Guarantee).
- Using the PayCycle system is like having your own purchase ledger clerk, your outstanding balances and invoice due dates are pre-loaded by your chosen suppliers.
- You can also get better payment terms or higher margins from certain suppliers. Create a login to see details on the Suppliers page.
- You'll save a lot of time and trouble using the PayCycle automated system, giving you more time on the shop-floor, or maybe even riding your bike! Start taking better control of your cash flow today with PayCycle.
The Pay-Cycle Process
- Retailers order goods with suppliers and receive goods and invoices from suppliers.
- Retailers decide which suppliers they want to pay using PayCycle.
- Suppliers provide electronic invoice details to PayCycle.
- PayCycle provides retailers with a statement 10 days in advance of the Tuesday payment run
- Retailers can Hold any or all of their invoices if they wish.
- Retailers can also use the Hold feature to notify suppliers of any errors
- PayCycle collects all the agreed amounts in one Direct Debit payment.
- PayCycle passes the money to suppliers within 3-5 working days.
NB - We recommend retailers try out Direct Debit payments with one supplier for a period of 1-3 months to make sure they are comfortable before using the portal to pay for multiple suppliers. Sort of like a Prologue.