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Thread: Payment

  1. #1
    jec
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    Payment

    I am wondering how many charge their fee on Friday or Monday.
    I've always charged my fee for Friday ~ at the end of the week. I've never had a problem thankfully with any daycare parents being able to pay but forgetful yes. I have one family who I love however they are always forgetting to pay me and offer to swing by on the weekend but I just tell them to bring it with them Monday. I hate to make them run back out and it's my weekend and enjoy it without any daycare families ~ love them all but it's work and like to leave it for the week.

    I am an interview tonight and thinking I might change payment due on Monday???

  2. #2
    Expansive... Play and Learn's Avatar
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    I would personally change it to Monday at drop-off for the week. I'm just updating my manual for prospective parents, and changed it to this:
    Payment is received every Monday morning at Drop-Off time for the week. Payment is by correct cash or cheque – I do NOT provide change. You will receive a receipt. If payment is late, I will require a $20 late fee per day. Each day that you do not pay, your child will NOT receive care.

  3. #3
    Euphoric !
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    I charge monthly, in advance. My handbook states No payment= no care. I have bent the rules once or twice, but in general parents have been great with paying on time. The one family that I used to have to ask again and again is gone.

  4. #4
    Euphoric !
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    My payments are Monday for the week as in I am paid before the care is given. Any extra fees such as late fees are added to the pay for the following week - no sense making the parent extra late by stopping at the ATM for cash and then needing me to make change for a $20.

    I like a Monday payment because even those that forget have a week to get it to me before going to the bank which is often done Sat morning. I do have a late fee for each day not paid.

    The other advantage of pay on Monday is that if a family doesn't pay on Friday and then leaves care you are out the money. This way they can leave on Friday without notice and while you are entitled to compensation you likely won't be able to collect at least you haven't done any care that hasn't be paid for.

  5. #5
    Euphoric !
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    I receive payment on Fridays for the following week(s) care.....as I go grocery shopping on weekends for the daycare. I accept cash or EMT no cheques. I never set foot in a bank. I can sit at my kitchen table on Fridays while the kids are napping and receive my fees. It's easy for the parents who pay by EMT as well they never have to go to the bank on the way home and they never have to worry about a bounced cheque.

  6. #6
    Expansive...
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    I think Monday payments work if you don't charge a security deposit.

    I do hold a one week security deposit for each family so I am covered if they were to leave me high and dry at the end of a week. Hopefully I have chosen great families who would never do that though.

    I actually made my payment day every Thursday. That way if a parent forgets to bring money on Thursday I still have the Friday to collect the fees rather than waiting a whole weekend. Parents seem happy with the Thursday and have hardly ever 'forgot' to bring it. It works great for me and I feel very happy going into every Friday

  7. #7
    jec
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    Thanks everyone !!

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  9. #8
    Euphoric !
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    My parents all pay in advance either bi-weekly or monthly (they choose and most have chosen monthly). They give me post-dated cheques (I have not made this a requirement, but they have all chosen to do so) and so I never have to worry about anyone forgetting. In the future I think I may even make the monthly pay in advance my general rule (with exceptions for those who really can't pay it all at once) because at least if they leave care without enough notice, you have been paid for the month.

  10. #9
    Starting to feel at home... angelina's Avatar
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    hello ladies, this made sense to me now.

    I just recently got burned by not asking deposit.

    it looks like Monday works, they have the rest of the week to pay up.

    does anyon have part timers? how's the payment schedule on this?

    I am planning to take a part timer, and thinking of asking advance payment, like punch card type. They will pay me good for 5 days, and every time they come, i just mark the punch cards. Just like gift card.

    anyone have other ideas?

    angelina
    If they whine, give them cheese. If they're not hugable, hug yourself. (me)

  11. #10
    Euphoric !
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    For part timers the pay is due on the their first day of the week so my 4 day a week child doesn't come on Monday and so pays their fee on Tuesday when they arrive.

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