late payments

[Nurse Jackie]

This is my first time having to charge late fees and I need some help. I accept payments Friday before the following week of care and have not received payment from one of my parents. As per my contract my late fees are $10 per day that payment is not received so do I include do I include friday? if they drop off payment Monday would it be a $20 fee or a $30 fee. I hate to charge the fees all together but this is my pay check and I want to be paid on time.

[daycare]

This is my first time having to charge late fees and I need some help. I accept payments Friday before the following week of care and have not received payment from one of my parents. As per my contract my late fees are $10 per day that payment is not received so do I include do I include friday? if they drop off payment Monday would it be a $20 fee or a $30 fee. I hate to charge the fees all together but this is my pay check and I want to be paid on time.

For me personally I charge a flat rate if it is not paid by 5:00pm, my closing time.
I stopped doing it per day because parents tried to drop off on weekends and that was a disaster.
So no mine is like this

Your late fee is due Monday morning at drop off if your child attends or not.
We will enforce no pay no stay policy.

Late fees are as follows:
1st late $50
2nd late $100
3rd late terminate.

99.9 of my clients have paid late once and never again. Sorry I don't have time to chase adults to take care of their responsibility.

If I have to take care of parents those are my handling fees.

I've ever only termed one time over lack of payment on 12 years.

[Nurse Jackie]

Thanks Daycare never thought to do that

[childcaremom]

My payments are due by 9 am on Fridays. Late fees start at 9:01.

So $15 after 9 am on Friday. $30 on Saturday. $45 on Sunday. $60 on Monday morning. It is due by EMT so I don't have to worry about clients trying to drop off.

I do like the idea of just it being late and it comes on by Monday morning with a $50 late fee. No pay, no stay. Simple and easy to figure out.

[Blackcat31]

This is my first time having to charge late fees and I need some help. I accept payments Friday before the following week of care and have not received payment from one of my parents. As per my contract my late fees are $10 per day that payment is not received so do I include do I include friday? if they drop off payment Monday would it be a $20 fee or a $30 fee. I hate to charge the fees all together but this is my pay check and I want to be paid on time.

This is exactly how my payments are set up. I also charge a $10 per calendar day late fee. I do not accept payments on the weekends.

A payment missed on Friday would have a $30 late fee attached if paid on Monday. $10 for Saturday, Sunday and Monday. I charge for Monday even though that is the day they make the payment because it is the third late day.

I hope that makes sense.

[Nurse Jackie]

Thank you ladies. Just wanted to make sure I had it right before/if she shows up Monday. I also have a no pay no stay policy

[Meeko]

I must receive payment by 6PM on Friday. At 6:01 PM, a $30 late payment fee is added and must be paid Monday morning along with that week's tuition fee. I don't want anyone showing up after I close for the weekend.

I used to explain it to clients as a "$10 per day late fee". But I had a few over the years who would then try to come by later Friday night/early Saturday etc thinking it was going to save them a day or two of late fees.

Now I just tell them that at 6PM I am closed and do no business until Monday morning. Payment will have to wait until Monday morning and it's a $30 fee. There is no "per day" fee.