MMK Question Recording Income?

[Stepping]

I started using MMk pro software to record my income and expenses in June and think I may be recording income incorrectly.

If I generate an income report does that include all parents who have been invoiced and paid? Or only those who pay through automatic payments? I had been putting the fees from one family who pay by check in the 'other income' section manually but it occurred to me that they are still invoiced and recorded as paid on MMK and I don't want to record them twice.

Does this make sense? Anybody else use MMk for recording income?

[Cat Herder]

Are you creating invoices for each payment (non-electronic)?

If so, the "other income" will be added to those, effectively making you appear to be earning double.

[Stepping]

Are you creating invoices for each payment (non-electronic)?

Cat herder you are my personal advice coach today, thanks for responding :hug:

I am creating invoices for all parents electronically through MMk. Most of my families pay through child care pay so the invoice automatically shows up as paid. I have one family (ironically, the ones who pushed for automatic payments in the first place!) who still pay by check so when I receive the check I log in and record the invoice as paid.

However, at the end of the month when I do my accounts I have been putting this families fees in the other income section. This is where I think I may be recording their fee twice?

[Cat Herder]

Cat herder you are my personal advice coach today, thanks for responding :hug:

I am creating invoices for all parents electronically through MMk. Most of my families pay through child care pay so the invoice automatically shows up as paid. I have one family (ironically, the ones who pushed for automatic payments in the first place!) who still pay by check so when I receive the check I log in and record the invoice as paid.

However, at the end of the month when I do my accounts I have been putting this families fees in the other income section. This is where I think I may be recording their fee twice?

Yes, I bet you are. When you mark them paid, you can add the check number (or "cash", in my case) in the bottom line on that tab.

The other section is what I use to record my part time income to make my tax printouts easy to read for my accountant. It is more "personal use" than "daycare".

Agh...just noticed the section. I usually don't answer in this section since Tom does. I just LOVE my MMK, it has made life so much easier.

You can print out your statement of payments and other income now to be sure... Then edit. You can edit until January-ish, I think.

[Stepping]

Yes, I bet you are. When you mark them paid, you can add the check number (or "cash", in my case) in the bottom line on that tab.

The other section is what I use to record my part time income to make my tax printouts easy to read for my accountant. It is more "personal use" than "daycare".

Agh... I usually don't answer in this section since Tom does. I just LOVE my MMK, it has made life so much easier.

You can print out your statement of payments and other income now to be sure... Then edit. You can edit until January-ish, I think.

I hadn't seen the bit about recording check numbers so will look out for that next time I sit down to do my accounts.

Thank you so much happyface

[Cat Herder]

I hadn't seen the bit about recording check numbers so will look out for that next time I sit down to do my accounts.

Thank you so much happyface

Absolutely!! lovethis