Payment Schedule

[daycaremom9]

I do think that I'm being shorted but at the time I was a little concerned for my business with the new group daycare opening. This daycare provider also has another group daycare in the area. But as it turns out it didn't seem to affect my business in a negative way. As a matter of fact I seem to get more calls & interest in my daycare.
I'm just wondering for the providers that charge for stats if you've had many complaints, especially if the parents have to pay for other care for those days?

[playfelt]

I am paid each Monday for that week of care. I don't care if a family pays me for one week or two or four or whatever as long as it is for weeks coming up ie in the future. This is one of the reasons that I give a receipt with each pay period so there is no discrepancy in how much was paid and when more money is due since some of my parents pay in cash - ie hit the ATM for $20's since I am at $200 a week it is easy for them to do.

[mop]

I receive a cheque dated for the 1st of the month, and it covers that entire month.

[Momof4]

My fees are due in full for 49 weeks of the year, except for the 3 weeks I'm closed for vacation. That way all stats and any missed days are always paid and I can always budget, so the families never have any questions or math to do.

I have families who pay monthly, biweekly and weekly and I agree with the others, it's best to be aid at the beginning of the pay period, not at the end.

[zoomama]

I take monthly payment and base my fee on 22 days per month. Some months are 21, some are 23, but I think 20 is really short changing yourself. My rate is flat fee regardless and I take stats off with pay. I reimburse parents the following month in case of having to close due to illness or whatever. I have also started requiring that parents pay a full month deposit which is applied to the last month of care if 1 month notice is given. It's too easy to get totally shafted without that month of deposit with monthly payment. I know from experience!

[sunnydays]

Some of my parents pay monthly and other biweekly..I leave that up to them, but it is always in advance. For monthly, I give them a list of the months in the entire year and the fees due in each month based on the number of days of care in the month. Most people are paid for stat holidays (though of course I know some people work stats) so I have never had anyone complain about paying for them.

[venusrockstar]

My clients pay me weekly and I ask for payment on Monday's.

[blackcomb]

Good to know, I am going to do this based on 22 days a month too and set a flat fee, what do yours work out at per day on that rate? I'll put in my contract that ill days and holidays still have to be paid for your space to be kept too, but if I take a holiday or am ill they won't have to pay

[Busy ECE mommy]

I do up a fee schedule twice a year, outlining the fees in 6 month increments. I do not do flat monthly rates. Each month is tallied by the number of days scheduled, multiplied by my daily rate, and due whether they attend or not. All my stats are paid, as well as 2 weeks of holidays are paid. I also take a 2 week non-refundable deposit to be applied to the last 2 weeks of care.
Post dated cheques are due all on the 1st of the month, or divided btwn the 1st and 15th. I take 6 months of post-dated cheques at a time, so I'm not hunting down parents for payment.

[5 Little Monkeys]

I write in the monthly newsletter when payment is due and than mark down individually what they owe for the 2 weeks in advance.