Last 2 Weeks Payment Works!

[AmyKidsCo]

My policy is that payment for the last 2 weeks of care is due within the first month of attendance. It covers the last 2 weeks of care (when proper notice is given) regardless of what the child's rate is at the time. I always figured that the loss of income was worth the peace of mind from having that money in the bank because I didn't stress over "late" payments or whether a family would just up and leave without notice.

Next Friday is the last day for one of my kiddos who's been with me since 2013. Out of curiosity I looked back at the 2 week payment, and it was just $4.50 less than his current rate. $9.00 for 4 years of less stress - what a bargain! happyface

[Ariana]

My policy is that payment for the last 2 weeks of care is due within the first month of attendance. It covers the last 2 weeks of care (when proper notice is given) regardless of what the child's rate is at the time. I always figured that the loss of income was worth the peace of mind from having that money in the bank because I didn't stress over "late" payments or whether a family would just up and leave without notice.

Next Friday is the last day for one of my kiddos who's been with me since 2013. Out of curiosity I looked back at the 2 week payment, and it was just $4.50 less than his current rate. $9.00 for 4 years of less stress - what a bargain! happyface

I get the parents to pay the difference and you should too . The wording in my contract is that the deposit "goes towards the last two weeks of care" because sometimes rates change.

[AmyKidsCo]

Tom Copeland says you shouldn't call it a "deposit" because parents might think they can get their money back. http://tomcopelandblog.com/does-the-...arent-a-refund

I don't mind because one of the ways I "sell" the payment is that they won't have to make double payments if they're going somewhere that requires advance payment.

[Max]

I don't mind because one of the ways I "sell" the payment is that they won't have to make double payments if they're going somewhere that requires advance payment.

Ohhh I like this! Thanks!

[Unregistered]

I only have parents make up the difference if they change their number of enrollment days. (Mine are all part time.) I do this at our annual paperwork session.

Another plus is that most parents forget they have given you those two weeks in advance. (Most of mine are here from birth to five.) So they feel as if you have given them a gift when you say they don't have to pay.

[EntropyControlSpecialist]

I get the parents to pay the difference and you should too . The wording in my contract is that the deposit "goes towards the last two weeks of care" because sometimes rates change.

That's my wording as well MINUS "deposit." It is called an Enrollment Fee here and is marked as nonrefundable in many places.

I have a student aging out who had a VERY low rate (from when I first switched to offering less days). They still owe an additional $30.00 for her final two weeks and they did pay it. No sweat.

Had they left unexpectedly and I was out that $30.00 I wouldn't have worried about it.

[Ariana]

That's my wording as well MINUS "deposit." It is called an Enrollment Fee here and is marked as nonrefundable in many places.

I have a student aging out who had a VERY low rate (from when I first switched to offering less days). They still owe an additional $30.00 for her final two weeks and they did pay it. No sweat.

Had they left unexpectedly and I was out that $30.00 I wouldn't have worried about it.

Yes I don't call it deposit either. I just state that the last two weeks are due at signing. Yeah I wouldnt sweat $30 either but my current family is leaving and they paid me a $300 deposit 2 years ago. Now their rate is $560 every 2 weeks so $260 difference which I will be getting

[Pandaluver21]

I've been in business for almost 10 years, and we're just starting this policy. We have never really had an issue with the 2 weeks notice, but it is getting worse and worse now!

I'm not sure how to word it or implement it!

[Mom2Two]

I don't require two weeks notice, but I do require advance payment for the last two weeks of care plus some extra for possible fees that might be owing with the last two week's invoice.

I require the check before care starts along with immunization records, emergency contacts etc. I don't require notice for quitting, but if it happens, at least I don't have to worry about not getting paid for care I've already given.

When a family wants to starts, they write me a check for a typical (or max) two week bill. This shows as a credit on their statement and I send them a copy. Then they get billed every two weeks for care given.

I've had one family quit with no notice who had done the prepayment, and one who I had to move on out of here with no notice who I hadn't done the prepayment with (my first family). It feels a lot better to not end up with them owing you money for care.