KEG123 12:52 PM 01-02-2012
I have a free subscription to minute menu pro right now so was trying to get things entered in. So far I have entered in most of my receipts, aside from groceries. I know for a fact I do not have *all* my grocery receipts, probably most? 75-95% I'm sure... Should I just put in the ones I have? And how do I know what my "actual food expenses" are if I buy daycare and family groceries together? Would I use my time space %? Or should I take my sign in sheet and go back and calculate how many breakfasts/lunches/snacks I provided for the year and calculate expenses that way?
TomCopeland 02:37 PM 01-02-2012
You don't have to save food receipts, or enter them into MM if you use the standard meal allowance rate to claim food expenses. If you want to estimate your actual business food expenses, enter all of your food expenses into MM (business and personal). Then choose a method to estimate the business portion: calculate your own average cost per meal, buy food separately, calculate a business percent of your total food expenses. All of these methods require work - I'm described them in detail in my book Family Child Care Record Keeping Guide.
Don't use your time-space% to determine your food expenses.
KEG123 07:52 AM 01-03-2012
Where do I find what the standard meal allowance is?
TomCopeland 09:12 AM 01-03-2012
The rate is $1.19 breakfast, $2.22 lunch/supper and $.66 snack - for 2011.
KEG123 09:31 AM 01-03-2012
Thanks! I should have known that since that's what the food program reimburses me.
TomCopeland 01:13 PM 01-03-2012
The standard meal allowance rate is based on what is the higher (Tier I) reimbursement rate in effect on January 1st of that year. The rate a Tier I provider is getting today, and the meal allowance rate it will be for everyone for 2012 is $1.24 breakfast; $2.32 lunch/supper and $.69 snack. Alaska and Hawaii rates are higher.