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Crazy8 01:13 PM 06-18-2013
my contract states that their deposit will be "credited" towards their last week of care. If when they started their deposit was $150 and by the time they leave they are paying more per week they just pay the difference for that last week. No problem.

Well.... what if they are paying LESS per week when they are leaving?? Like they go part time for their last few weeks/months with you? Do you credit their deposit over their last few weeks of care or would it still only be for their very last week?? Like if they left a $150 deposit and are now only paying $50 a week - would it be used for their last 3 weeks??
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Heidi 01:27 PM 06-18-2013
yes....
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daycare 01:36 PM 06-18-2013
I require a 30 day notice. When the notice is given, I then will apply their deposit at that time. They are required to pay in full when they give their 30 day notice. THis is why I require the deposit. THis way it is not an overwhelming fee to pay.

so in this case, yes you should use their deposit to cover their additional weeks of care
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MarinaVanessa 02:38 PM 06-18-2013
Originally Posted by Crazy8:
my contract states that their deposit will be "credited" towards their last week of care. If when they started their deposit was $150 and by the time they leave they are paying more per week they just pay the difference for that last week. No problem.

Well.... what if they are paying LESS per week when they are leaving?? Like they go part time for their last few weeks/months with you? Do you credit their deposit over their last few weeks of care or would it still only be for their very last week?? Like if they left a $150 deposit and are now only paying $50 a week - would it be used for their last 3 weeks??
I require a 2 weeks notice to terminate and a non-refundable 2 week deposit which, like you, I credit towards their final 2 weeks of care. If they give me notice and they pay less at termination than they did when they initially signed up and they terminate with more advance notice than I require then I just credit it towards child care for those extra weeks also. If they still have a balance then I just issue them a check later even if I say it's non-refundable.

So for example let's say that a client starts at FT and they pay $150 per week and give a deposit of $300 then they later go down to PT and they then only pay $100 per week ... if they give me their 2 week notice 4 weeks in advance then I will credit their 2 week deposit to the final 3 weeks of care and they only have to pay for one of week in their final 4 weeks.

Same scenario except that I get a 2 week notice of termination ... I will credit their deposit towards their final 2 weeks of care and mail them a check for the remaining balance.

That is also considering whether they don't owe any otehr fees too, otherwise the deposit pays the fees first and the remaining balance is used to pay towards their final weeks of care.
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Crazy8 04:46 PM 06-18-2013
I require a 2 week notice but only collect 1 week as a deposit. Honestly, its more for me than them, cause I feel like I'm working for "free" at the end (even though I know they paid, that could have been 3-4 years earlier).

So I guess if people give more than 2 weeks notice I will apply it to how ever many weeks they give or they can utilize more days of care if I have the space but I do not feel I need to refund it.
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Tags:applying deposits, deposits, handling deposits
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