Taxes/Record Keeping

[Unregistered]

How many years do we keep the children's files after they have left and our tax files?

[gbcc]

Tax files you are supposed to keep for 7-10 years in case you are ever audited. As far as parents, as long as they are paid up and there are no issues I throw them out at the end of the year.

[Childminder]

Tax files are 7-10. But child/daycare records are to be kept for 4 years if you are licensed in the state of MI. Your state or province rule book/web site will tell you for sure.

[terrivh]

record keeping

What type of software does everyone use to to do bookeeping and billing?

[mac60]

What type of software does everyone use to to do bookeeping and billing?

I do my stuff by hand. I think it is easier since I have to go thru each individual receipt anyways, then log each months expenses, etc. Just turn in the itemized sheets to tax lady and go from there.

[gbcc]

What type of software does everyone use to to do bookeeping and billing?

I use minute menu kids. It's $64 or something like that the first year and then every other year it is half price. You just fill in your expense and print off the forms and your taxes are pretty much ready. Your parents can even pay you online as well. I love it. It's very similar to Tom Copelands books just computerized and completed for you.

[Former Teacher]

How many years do we keep the children's files after they have left and our tax files?

I don't know about taxes etc..but in TX you are required to keep ALL paperwork (medicine forms, permission slips etc) on each child for 3 years AFTER the child leaves the center.