set fee/ 52 weeks
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  1. #1
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    Default set fee/ 52 weeks

    do any minders on here have a set fee a regular wage as such ,ive a mum whos worried about holiday cost my other minder freind said years hours added together divided by 52 ect so some weeks most probably ill be over paid then underpaid hope im explaining right
    how would you contract this and what happens if they leave do i have to pay back if its in my favour any advice appreciated x

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    I have recently taken a family on who requested this.
    I did a range of excel calculations to see when I would owe and when they would owe....I wasn't happy with either as at some point I am sure they will suggest one of the children goes more days at nursery - so I ended up charging an advanced charge to secure place - not a deposit as I actually want this money in my bank account. They paid this by July 31st and then the regular monthly charge starting at end of Sept until July next year was the remainder of the yearly cost divided by 11.

  3. #3
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    I do this for a few clients and it works well for me. I do quite in depth invoices each month so both myself and the parent knows what the exact amounts owing are verses how much they've paid. I used to work in a bank though so figures come quite naturally to me in these situations :-)

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    any very basic ways to invoice for this my brain seems to be in mush mode im so used to set after school hours thanks xx

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    Its fairly straightforward , this is my way of doing it -

    daily fee x number of days per week

    x 47 ( I take 5 weeks holiday per year)

    gives annual total ( you may need to also take off fee for bank holidays that fall outside your holiday time , depending on what days child comes , and whether you charge for BHs)

    Annual total / 12 gives monthly fee due.


    On the invoice you would put actual fee accrued monthly fee debit / credit

    This would be brought forward each monthly invoice , so if the child leaves or changes hours it is easy to see where everyone stands.

  6. #6
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    I've never been asked to do it - doesn't it work out difficult if they give notice mid-year? and you have had holiday or had holiday booked etc....?

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    It is certainly an area that cms need to consider very carefully.

    It is hard to invoice parents knowing one month they 'owe' you ...while the next they have 'overpaid' slightly due to the invoices being divided in such a way.
    For those parents who get funded hours these are still spread over 38 weeks

    How do cms calculate EYPP and funded hours?
    what if parents suddenly give notice?
    there would have to be a very good deposit in place to cover the cm's business sustainability in such circumstances.

    It may be interesting to read how many nurseries are actually chasing 'non payments' ...the article was out yesterday and it made sobering news.

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    Quote Originally Posted by TinyTinker View Post
    I've never been asked to do it - doesn't it work out difficult if they give notice mid-year? and you have had holiday or had holiday booked etc....?
    Hence the wacking great payment in advance.
    I am term time only and take my holidays in school holidays so at least that was easier to sort.

    I am not surprised about the non payments in nurseries too.
    I think the country would be very surprised at the amount of money at any one time in the year that schools are owed for school dinners too! Parents know that you are not going to let a child go without a meal.
    We will always be the last to be paid on a tight budget because human emotions are involved, we are not going to send the bailiffs in or cut off a vital energy.

  10. #9
    Simona Guest

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    Quote Originally Posted by FloraDora View Post
    Hence the wacking great payment in advance.
    I am term time only and take my holidays in school holidays so at least that was easier to sort.

    I am not surprised about the non payments in nurseries too.
    I think the country would be very surprised at the amount of money at any one time in the year that schools are owed for school dinners too! Parents know that you are not going to let a child go without a meal.
    We will always be the last to be paid on a tight budget because human emotions are involved, we are not going to send the bailiffs in or cut off a vital energy.
    I am sure that happens in schools as well

    The only difference I noticed was that parents were very keen to settle the money owed to school for either school lunch or any other activity but happy to let their childcare fees unpaid or paid late.

    It is certainly an area providers, schools and parents can work to improve on.

    In that article about the non payment to nurseries the ones who had the lowest issues were those who had a simple policy 'no fee...no play!'

  11. #10
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    Hi

    39 weeks at normal rate =

    13 weeks at school hols =

    ad the 2 together then divide by 52

    X

 

 

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