Bi Weekly Payment Issue

[MOM OF 4]

How do you charge for all weeks when you have payments on 1st and 15th pay days?

My current DCP wanted an EASY way to make sure she gets paid for every week and has lost out because of the extra week in Jan/June when she gets paid bi-weekly.

I used to make my payments due every other Friday to avoid this, but I had 2 military parents pay the 1st & 15th and I just added the additional week divided between the two payments.

Anyone else have an easier way for her?
Thanks!

She wants to charge I believe $125/week. So that's like $500/month based on a 4 week months, if that helps any

[LysesKids]

Does she charge 52 weeks a year, 50 weeks with 2 weeks vacation unpaid like me or what? Easiest way is to take weekly fee times the # of weeks, you then divide by 12 then divide by 2 (half the monthly rate). When parents pay me on 1st I get 520 month, the 1st & 15th I get 260 each time; I charge 125 week ... the extra weeks are averaged out over the year as well as my unpaid vacation being averaged out... same fee each month regardless

[spinnymarie]

I divide the payments equally across the year by month. That way I know exactly how much is due each month regardless of holidays too.

$100 for 52 weeks each year would be 12 installments of $433.33. I'd round up too, to $435 due each month.

[MOM OF 4]

Does she charge 52 weeks a year, 50 weeks with 2 weeks vacation unpaid like me or what? Easiest way is to take weekly fee times the # of weeks, you then divide by 12 then divide by 2 (half the monthly rate). When parents pay me on 1st I get 520 month, the 1st & 15th I get 260 each time; I charge 125 week ... the extra weeks are averaged out over the year as well as my unpaid vacation being averaged out... same fee each month regardless

Yes, 52 weeks per year, but I think she only takes 1 week vacation. Even though it doesn't make it easier for ME personally, I will suggest she take the 2nd week because I think she needs that time!

[Sugar Magnolia]

She will be charging.$25 per day then. Count the number of school days between the first and fifteenth, multiply by 25 and bill accordingly. Then count school days between the 15th and last day of the month and bill accordingly. I use this daily rate method to calculate and bill my families who prefer to pay monthly or 15th and 30th.

[MOM OF 4]

Thank you! I will send her this link. She should be making a new profile soon