countrymom 12:23 PM 02-22-2012
do you hand parents a monthly reciept or year end reciept. How do you guys do it. I don't have mmk because they don't do it in ontario. So how do you guys have it all organized.
My parents pay weekly so I give them reciepts weekly. I bought a receipt book at walmart and fill it out for them every week.
cheeseheadmama 12:42 PM 02-22-2012
I write a receipt for every payment received. Some parents pay weekly, others pay every other week but I will write out a receipt for each check. Some parents refuse to take their copy so I just shred them & keep the carbon copy for my records. Then I give them a year end receipt in January along with the tax form they need for claiming daycare costs. hope that helps!
DCMom 12:47 PM 02-22-2012
All my families pay me by check or bank draft to my account; I don't do an additional receipt.
Before MMK, I used Excel and created a Substitute W10 spreadsheet that I recorded check #s and amounts weekly. At the end of the year I just printed two copies. One for me and one for them.
Some of my parents have flex spending accounts where they need a weekly/monthly receipt, but otherwise I just give year end w-10s.
MommieNana4 05:26 PM 02-22-2012
I give a receipt weekly for payment.
Sunchimes 05:51 PM 02-22-2012
When someone gives me money, I give them a receipt--one of the receipt books from WM. I have one for each child. The edges are colored to match each child's assigned color. Ok, overkill, but I have fun with the new year tax organization stuff. ;-)
At the end of the year, I add them up and write each family a little note with what they paid and my EIN. They sign 2 copies, I keep one and they keep one.
I heard this was going to be a busy tornado season, so I think I'll start entering the payments in the computer, just as a back up.
countrymom 06:14 PM 02-22-2012
thats what I was doing, 2 sets of reciepts, one set for the weeks they were here and then one total. Now everyone wants one reciept. I'm not sure what to do.
Sunchimes 06:32 PM 02-22-2012
Are you saying that they don't want to be bothered with a receipt each week and want you to keep up with it for them until tax time?
Last year, I didn't do weekly receipts. I just listed it on a spread sheet on the computer and gave them the total in January. I'm trying to be more business like this year though.
Crazy8 06:58 PM 02-22-2012
I just give a yearly statement but always tell my families I can print it off for them at any time so if they wanted it weekly, monthly, quarterly I could do that. Up until recently everyone always paid me by check, so they had their canceled check as a "receipt" as well. Now I have 2 who pay cash and I have asked them if they wanted weekly/monthly receipts and they said no, the yearly is fine.
I have an excel spreadsheet with a worksheet for each family and every Friday I enter all payments into it - date, amount, check number, etc.
Meyou 01:37 AM 02-23-2012
I'm in Canada and I issue one yearly receipt. I track their attendance and payments in an excel spreadsheet and then just total it up at the end of the year. I also use the same spreadsheet to calculate my meal expenses per child for the year.
snbauser 03:34 AM 02-23-2012
Originally Posted by countrymom:
thats what I was doing, 2 sets of reciepts, one set for the weeks they were here and then one total. Now everyone wants one reciept. I'm not sure what to do.
Do they pay by check? If so, then the cancelled check is their receipt.
I have 11 families. I only provide receipts to 2 of them. 1 I send them electronically because she has a dependant care reimbursement account. She pays me monthly and I issue a receipt. I have 1 other family who pays me cash and never pays me an amount that matches full weeks but instead is just an even ammount so I issue a receipt so they know how much they owe when for their next payment.
countrymom 06:21 AM 02-23-2012
most pay by cash. I tell them that the reason I give the reciepts is that if I get audited I need proof (or if they do). this is why I was thinking of doing one sheet per kid with all the dates and months and just hand it to them (so they only have one sheet instead of a million reciepts) and they would get a year end reciept. Also if anyone wanted to dispute the total they can look at their sheet and see the days the kids where here too (and yes I have had parents who do this)
Blackcat31 08:59 AM 02-23-2012
I give a receipt (from a receipt book I buy at Walmart) with each and every payment.
I also print out a monthly statement of payments (using MMK) and make 2 copies, one for parent and one for me. Both the parent and I sign both copies and I file my copy in the parent/child's folder....parent does whatever they want with theirs.
I have parents that pay in 6 month increments, monthly, bi-weekly and weekly as well. ALL are pre-paid before services.
littlemissmuffet 09:02 AM 02-23-2012
I do one end of year receipt for each family. If a parent requests monthly receipts, I will do that too (nobody ever requests though). I charge $10 for replacement receipts that may have been misplaced or lost.
I keep a copy of all receipts I hand out to parents.
permanentvacation 10:21 AM 02-23-2012
I let them know on the interview that I will give them a receipt (which I keep a copy of) each time they pay me. They have to pay me at least weekly, but may pay either weekly, biweekly, monthly, whichever they perfer. They are required to keep track of their reciepts and add them up themselves for their end of the year total to put on their taxes. I do not total my parents pay seperately for myself for my taxes. I just add up my total pay from everyone for my taxes.
3myjob 12:19 PM 02-23-2012
Each of my kiddos have a designated cubby and a portfolio folder. The kind you can 3 hole punch papers and clip in the center but is smaller than a binder.
Each folder has the months calendar clipped into the center. I put all my important dates on them. The parents are welcome to write in their schedules as well. The pocket on the left is labeled "take home." Here is where i put their artwork, newsletters, reminders, supply lists. On this pocket I usually paperclip their receipt (the kind from walmart) they get every payment due date. The pocket on the right is labeled "stay at daycare." I store the alphabet and numbers book they've been making through the year as well as their sign in/sign out sheet for SRS (if applicable.)
My payments are due every other Friday so I send their folders home on Thursday evening. The parents empty them out and bring them back Friday morning with their check paper clipped on the front of the pocket where their receipt was.
The parents have raved on about how well this system works for them and I wished I would have started it years ago.