11-28-2008, 03:29 PM
What type of accounting form is best suited for a daycare that receives child care assistance from the gov't (cash basis accounting or accrual basis accounting)? I know that many small businesses (service-based businesses) use cash basis accounting (cash is accounted for as it is received). But with the parents receiving child care assistance, that is money automatically guaranteed to the daycare, how that can be accounted for if the daycare haven't actually received the money yet? I am trying to figure this one out. Maybe I am thinking about this one too hard. I wanted to know what type of bookkeeping software (i.e Quick Books, Peachtree, etc) is best suited for a daycare. I am planning to take over the bookkeepers' job for a daycare. I wanted to make sure that I am not going into this blind. This is my first time doing bookkeeping for a daycare. I want to provide the best service to the daycare and I want to make sure that I can handle the account for I accept it. Please help me out!!!!