Receipts or Invoices or Both?

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  • spud912
    Trix are for kids
    • Jan 2011
    • 2398

    Receipts or Invoices or Both?

    I am legally unlicensed so have free will with how I keep track of payments. I decided that I pull myself together and get more organized and professional. I think invoices are especially important the day before the due date so parents know how much they need to pay. Receipts are the aftermath so I know how much they did pay.

    What do you all do? Invoices? Receipts? Both? TIA!
    26
    Invoices (Before the Due Date)
    0%
    1
    Receipts (After the Due Date)
    0%
    12
    Both
    0%
    3
    Neither
    0%
    10
  • LysesKids
    Daycare.com Member
    • May 2014
    • 2836

    #2
    Originally posted by spud912
    I am legally unlicensed so have free will with how I keep track of payments. I decided that I pull myself together and get more organized and professional. I think invoices are especially important the day before the due date so parents know how much they need to pay. Receipts are the aftermath so I know how much they did pay.

    What do you all do? Invoices? Receipts? Both? TIA!
    I do receipts, but then some of my families have rotating schedules (3 days one week, 4 the next 2 weeks then back to 3 days type of thing) and some have set schedules. Their contracts stipulate how much they pay (daily/weekly/monthly) & when it's due - not my job to remind them which I believe invoicing does. Now every now & then I have to say to one parent, guess I have to wait until "Hubby" gets home because it's a week she isn't paid and she doesn't have the cash on her, but they still get me the $$ by 6pm on Fridays (she picks up at 4pm); I know her schedule a month at a time so I know what she owes weekly ( she pays minimum of 3 days week regardless of schedule)

    Comment

    • KiddieCahoots
      FCC Educator
      • Mar 2014
      • 1349

      #3
      Receipts. Don't have any particular reason, as long as I have the carbon copy for records, it's all good

      Comment

      • Thriftylady
        Daycare.com Member
        • Aug 2014
        • 5884

        #4
        Carbon copy receipts. Invoices would be extra work for me and probably just tossed out.

        Comment

        • Baby Beluga
          Daycare.com Member
          • Aug 2014
          • 3891

          #5
          I email receipts after the payment is made and I keep a spreadsheet of what is paid/who paid it/date it was paid/week is was paid for. That information is also in the emailed receipt.

          All of my families have set schedules and set tuition due each week (week before care) unless I close for some reason. If I close for some reason then I send them an invoice on Wednesday with the adjusted amount and a receipt after tuition is paid.

          Comment

          • jenboo
            Daycare.com Member
            • Aug 2013
            • 3180

            #6
            Parents know how much to pay each week. They give me cash, check or a bank transfer. I log it on a sheet (each family has their own). Then I total up the sheet at the end of the year and give them a copy for taxes.

            Comment

            • Annalee
              Daycare.com Member
              • Jul 2012
              • 5864

              #7
              My clients pay every Monday morning for upcoming week or they do NOT stay that day! I keep tabs on paper and then transfer to my computer (microsoft excel)

              Comment

              • Blackcat31
                • Oct 2010
                • 36124

                #8
                Originally posted by Annalee
                My clients pay every Monday morning for upcoming week or they do NOT stay that day! I keep tabs on paper and then transfer to my computer (microsoft excel)
                I do it in a similar way..

                Everyone pays Friday by 5pm (or they dont get put on next weeks schedule)

                I issue a written receipt (carbon copy) and then transfer info to Minute Menu software.

                I used to e-mail invoices but it got to be too time consumung.. Everyone pays their same weekly rate so it really just became unneccesary.

                Comment

                • childcaremom
                  Advanced Daycare.com Member
                  • May 2013
                  • 2955

                  #9
                  I marked neither but I do both invoice and give receipts but use a separate system to keep track.

                  I invoice parents on Tuesday (payment due Friday).
                  I do receipts at the end of each month.
                  I keep a checklist for each family with space to mark when payment is due, if it was rec'd, what period it covers, and if I've written the receipt.

                  Sounds like a lot but it works for me.

                  Comment

                  • Luvnmykidz
                    Daycare.com Member
                    • Feb 2013
                    • 336

                    #10
                    I use Minute Menu. I create invoices and they are emailed to the parents and expected to be paid by Friday of the prior week of care. Families can log onto the childcarepay website and see all invoices and payments. I log info in on Fridays after closing.

                    Comment

                    • Patches
                      Daycare.com Member
                      • Dec 2012
                      • 1154

                      #11
                      I do receipts since everyone pays the same rate every week. The only reason I send an invoice is if something changes. For example, if I close for a personal day they do not have to pay for that day so I will send them an invoice with that day deducted.

                      Comment

                      • Indoorvoice
                        Daycare.com Member
                        • Apr 2014
                        • 1109

                        #12
                        Originally posted by Luvnmykidz
                        I use Minute Menu. I create invoices and they are emailed to the parents and expected to be paid by Friday of the prior week of care. Families can log onto the childcarepay website and see all invoices and payments. I log info in on Fridays after closing.
                        I do the same exact thing. Takes all of 5 minutes to log everything.

                        Comment

                        • NoMoreJuice!
                          Daycare.com Member
                          • Jan 2014
                          • 715

                          #13
                          Originally posted by jenboo
                          Parents know how much to pay each week. They give me cash, check or a bank transfer. I log it on a sheet (each family has their own). Then I total up the sheet at the end of the year and give them a copy for taxes.
                          Same. Except I use an Excel spreadsheet so I can import it to my profit/loss worksheet, income balance, and balance sheet. All that paper seems totally unnecessary unless the payment would be different every week.

                          Comment

                          • earlystart
                            Home Daycare Provider
                            • Sep 2012
                            • 161

                            #14
                            I don't do invoices, the parents have set schedules and payments, unless they take a vacation day, which they usually are able to calculate themselves, or email me to confirm the amount. I only do individual receipts for families that need it for reimbursement programs they are a part of. I keep track of each payment on my own excel spreadsheet though, and give each family a copy of that at the end of the year that shows all their payments.

                            Comment

                            • originalkat
                              Daycare.com Member
                              • Dec 2009
                              • 1392

                              #15
                              I bill monthly and it is the same amount each month so there really is no need to send out invoices. I do not regularly give out receipts unless someone requests it. I do create invoices on my minute menu program for my own records and then record payments. At the end of the year I give parents a printout of all payments made for the year for taxes.

                              Comment

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