Sync’s Prompt Payment Policy
Sync is committed to supporting the small and medium-sized businesses (SMBs) we work with by ensuring prompt payment for all products and
services received. We understand the importance of timely payments to the sustainability of businesses and strictly adhere to the
UK Small Business Commissioner’s Prompt Payment Code (PPC).
To ensure continuous improvement, Sync completes a self-audit every six months to monitor our payment practices and compliance.
Our Commitment to Timely Payments
- Payment Terms: Sync aims to pay all valid invoices within the contractually agreed timeframe. Where no specific terms are provided, we commit to paying SMBs within 30 days of the invoice date and larger organisations within 60 days.
- Payment Efficiency: We work diligently to process payments quickly, avoiding unnecessary delays or withholding of funds, ensuring strong cash flow for our partners.
- Self-Audit Compliance: Every six months, Sync conducts a self-audit to ensure ongoing compliance with PPC guidelines and prompt payment practices.
How to Submit Invoices to Sync
To help us process your invoices as quickly and accurately as possible, please adhere to the following guidelines:
- Invoice Submission: Submit your invoice or credit note by email to invoices@wearesync.co.uk in electronically typed PDF format. Each invoice or credit note must be submitted as a separate file, including any supporting documentation.
- Purchase Orders: All suppliers must request and receive a formal Purchase Order before providing goods or services to Sync. The PO number is provided at the time of order and must be referenced on your invoice
- Purchase Order Reference: Clearly reference a valid Sync Purchase Order (PO) number on the invoice. The PO number can be found at the top-left of the PO document in the format Purchase Order No. ######.
- Invoice Addressing: Ensure that your invoice or credit note is addressed correctly, as per the entity details on the provided Purchase Order.
- VAT Information: Include complete VAT details on your invoice. This includes:
- VAT number (if applicable)
- Net price
- VAT rate
- VAT amount
- Total amount for each line on the invoice
- Product/Service Details: Ensure that all descriptions, quantities, and pricing units on your invoice match the corresponding lines on the Purchase Order.
- Bank Details & Currency: Provide your bank details on the invoice, including the currency in which you expect payment to be made.
- Delivery/Service Information: Include the address or recipient to whom the goods were dispatched or services were provided, as well as the date on which the goods were dispatched or services were performed.
- Timely Submission: Submit invoices as soon as possible after the goods have been dispatched or services have been provided. Please attach the Purchase Order document to the invoice when sending.
- Proof of Delivery: Retain proof of delivery to avoid disputes or delays in payment processing.
- Remittances: Please send all remittance advice to remittances@wearesync.co.uk.
Address for Physical Documents
If you need to send documents via post, please address them to:
FAO Accounts
16-18 Midland Street,
Ardwick,
Manchester,
M12 6LB
Phone Inquiries
For any questions or issues related to invoices or payments, please contact us at 0161 605 3838 and select the ‘Finance and accounts’ option.
Supplier Best Practices to Maximise Payment Speed
- Accurate Invoicing: Ensure that all invoices are accurate, include the required Purchase Order reference, and follow the specified format for both the filename (INV) and invoice number.
- Prompt Submission: Submit your invoices as soon as possible after delivering the goods or services.
- Communication: Address any discrepancies or issues early to prevent delays.
Summary
Sync highly values our suppliers and the partnerships we’ve built. Our commitment to prompt, efficient payments underpins these relationships, and we strive to ensure clarity and fairness in all transactions. Should you have any questions, please do not hesitate to contact us.
By working together and following these guidelines, we can ensure efficient payment processing and foster a mutually beneficial relationship.
Speak to a specialist today...
Get in touch with our business team about the right solution for your institution.
0161 605 3838 | business@wearesync.co.uk
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