When do you get paid??

[playfelt]

I get paid on Monday for the coming week. It is sort of pay in advance. There is a late fee but in all honesty if they don't make a habit of it and I like the family I do give a grace day. With part-timers this has been great (they pay on their first day for the week). It means hubby can go to the bank after work on Thurs on his way home and the money is in by the weekend. I do receipts on Friday/weekend along with my bookkeeping and they are clipped on the back of the front door for parent pick up on Monday when they bring the new payment. Many just hang their cheque and take their receipt which works well - saves me from forgetting I put it in my pocket at the door.

I do have a friend that gets paid on Friday for the coming week so they are paid up and deposited before the week comes. That way if a family leaves with no notice the money for the week is already in the bank.

[Spixie33]

I get paid on Monday for the coming week. It is sort of pay in advance. There is a late fee but in all honesty if they don't make a habit of it and I like the family I do give a grace day. With part-timers this has been great (they pay on their first day for the week). It means hubby can go to the bank after work on Thurs on his way home and the money is in by the weekend. I do receipts on Friday/weekend along with my bookkeeping and they are clipped on the back of the front door for parent pick up on Monday when they bring the new payment. Many just hang their cheque and take their receipt which works well - saves me from forgetting I put it in my pocket at the door.

I do have a friend that gets paid on Friday for the coming week so they are paid up and deposited before the week comes. That way if a family leaves with no notice the money for the week is already in the bank.

It seems a lot of you are getting paid in advance. I get paid for the current week on the Thursday of every week. I never paid ahead when I was using a home daycare and therefore that thought never even occured to me when I became a provider. It is interesting to me.

I have a question for you Playfelt....how come you do weekly receipts? That is another thing I never would have thought of or had done to me both as a provider or as a parent using a provider. I give annual receipts every february for tax purposes but that is all. Do u just do weekly receipts or also an annual receipt? Were the weekly receipts something that parents wanted from you?

[Emilys4Guppies]

As part of my bookkeeping I give reciepts for every payment. Be it weekly, biweekly or monthly, they get a reciept for every payment so that I can keep track of cheque # and amounts more accurately in my own records. It works for me.

I also require payment in advance so that I can pay for my supplies/groceries/crafts for the coming week out of that week's funds. Otherwise, I'd be a week behind in where I draw my funds from, does that make sense?