Childcare Monthly Billing????

[Cjones401]

We have a new parent that has requested to pay monthly. We do weekly tuition payments due on every Monday. So we suggested she pay the weekly rate x how ever many weeks are in that particular month due every first Monday of the month.(ex. **Aug** 120(wk)x5weeks= 600. Due on Monday Aug 1st) The parent feels that this is wrong. Is there anyone out there that can offer any insight??? :confused:

[kendallina]

What does she see as the alternative? I think you're doing it right, I wouldn't do it any other way. :confused:

Did she understand that she doesn't have to pay on the first day of the month, but on the first Monday. Like, for September, she doesn't have to pay until Sept 5... This probably won't make a difference for her, but it's exactly what she would be paying if she paid weekly.

[Mike]

She probably wants it spread out evenly, so monthly rates would be 52/12 x weekly, so $520/m.

[kendallina]

She probably wants it spread out evenly, so monthly rates would be 52/12 x weekly, so $520/m.

I'm sure you're right, but I would be worried that this family would leave early in the year.

That said, I charge all my families an 'annual' tuition and just bill them monthly, so it doesn't matter how many days/weeks are in each month/how many holidays there are, etc. I work in a community where the big employer pays monthly, so it's how most people want to pay here.

[LysesKids]

We have a new parent that has requested to pay monthly. We do weekly tuition payments due on every Monday. So we suggested she pay the weekly rate x how ever many weeks are in that particular month due every first Monday of the month.(ex. **Aug** 120(wk)x5weeks= 600. Due on Monday Aug 1st) The parent feels that this is wrong. Is there anyone out there that can offer any insight??? :confused:

I get paid by the month by all but one family... I take my weekly fee and times it by 48 weeks then divide by 12 which equals monthly fee - payment is due by drop off time the first of every month (I take a total of 20 unpaid days off yearly that's why 48 instead of 50 or 52 weeks); I charge 135 week... so pay is 540 month each and every month, no deductions when I am gone because it is already deducted from the annual rate. makes it easy for bookkeeping too. If the first lands on a weekend, pay is due by the Friday evening prior

[LysesKids]

What does she see as the alternative? I think you're doing it right, I wouldn't do it any other way. :confused:

Did she understand that she doesn't have to pay on the first day of the month, but on the first Monday. Like, for September, she doesn't have to pay until Sept 5... This probably won't make a difference for her, but it's exactly what she would be paying if she paid weekly.

September 5th is a Federal Holiday this year, so parent might not be working that day... I have all my monthly families pay by the first of month (Friday before if it lands on a weekend); pretty much just like paying rent by the first of the month

[Meeko]

Monthly fee = weekly fee x 52 weeks, which gives you the yearly rate....then divide by 12

For example $100 weekly fee x 52 weeks = 5200 for the year.

5200 divided by 12 months = $433 per month

There are several 5 week months in a year, so this is the easy way to get regular, even payments.

[Blackcat31]

We have a new parent that has requested to pay monthly. We do weekly tuition payments due on every Monday. So we suggested she pay the weekly rate x how ever many weeks are in that particular month due every first Monday of the month.(ex. **Aug** 120(wk)x5weeks= 600. Due on Monday Aug 1st) The parent feels that this is wrong. Is there anyone out there that can offer any insight??? :confused:

Why cant the parent put money aside and with draw just the weekly amount due and pay it each Monday like everyone else does?

I hate when parents want to mess with my payment policies/requirements.

If the parent wants to pay monthly Id let them do the math and the "budgeting" whatever way they want.

.....just so long as my weekly fee was paid in full every Monday.

[Nurse Jackie]

The monthly thing would be hard for me to figure out because I have time off I take through out the year that I do not charge parents for. I a lot myself these days but who's to say I'll take them every year. I have one parent who pays me 6 weeks at a time. So she calculates it based off of the days I have already planned to take off. It would be impossible for me to multiply then divide and carry the 2 to figure out how much she would owe me each month.

[NillaWafers]

I've been doing that for a parent, she pays bimonthly - but every two weeks I calculate her days and send her an invoice. It's annoying, she's leaving in two weeks so I'm going to strictly weekly after she's gone. It works out better for me. Minute menu charges them on Monday and I get paid Friday for the next week. It works out sooooo much better.

[bklsmum]

My DCPs who wish to pay monthly pay on the 1st Monday and we count the Mondays in the month and multiply the weekly fee by that. I throw a line in the newsletter to tell them when the next month's payment is due and how many Mondays there are in that month. I haven't had an issue.

[Cat Herder]

Can she not just postdate a few checks or set up an auto-pay account like everyone else?:confused:

[DaveA]

I have 1 family that pays monthly. . Their payment is due on the 1st and is weekly fee X 52 divided by 12. I don't do monthly billing anymore, but they were set up before the policy change and are great about paying on time. Any new DCFs pay biweekly.