monthly or 4 weekly?

[SJ35]

Hi,
just trying to get my head round whether to charge monthly or 4 weekly?

Would it be easier to just ask for payment on the 1st of each month rather than try to keep on top of 4 weekly?
Then it would be easier for accounts if i can keep each calendar month separately?

what do you do?
Thanks
Stacey

[BlondeMoment]

I personally do a bit of both depending on what works for the parents. For some I charge for the month ahead. I sit with my calender and write on an invoice all their contracted days for the month and then a total which I give out the last week of the month to be paid the first 'minded' day of the next month. It works well with the schoolies as they are with me more in months where there are school holidays. But I do also have others on 'set rates' which are worked out by multiplying the weekly rate by 53 weeks in the year, then dividing by 12 months and paying that amount on the first of each month through bank transfer.
You could do it like that for schoolies too by working out an average rate to cover the extra hours in the hols too x

[LittleLegsCM]

My charging times are based on what's best for the parent to reduce the risk of late/non payment.

I currently have 1 that pays every 2 weeks (in advance) as that's how she gets paid, 1 4 weekly (again in advance) as thats apparently how her tax credits payment is made and the rest are monthly (also in advance)

It takes a little bit more working out when doing accounts at the end of the month but tbh, not much more at all :)

[sarah707]

I use monthly, giving out bills in the last week of the month for payment the first week of the new month.

I always mention to parents verbally if it's a 5 week month coming up so they aren't so surprised! :D

[PixiePetal]

I use monthly, giving out bills in the last week of the month for payment the first week of the new month.

I always mention to parents verbally if it's a 5 week month coming up so they aren't so surprised! :D

same for me :thumbsup: Current family paying in arrears so have a big invoice to pay this week. Normally in advance but an exception made for these and never had a problem :)

[cathtee]

Hi Stacey, I do both I have a mindee who pays on voucher so I have calculated yearly total and devided by 12 months then I get the same each month and the diff from any extras are payed at the same time by chq, then I get the same wage each month, another parent prefers to do it monthly by how many weeks either 4 or 5 and I also do weekly. I think its whatever suit you :)

[miffy]

I am paid monthly in advance on the first of each month - I give out invoices roughly 10 days before payment is due so parents have time to organise themselves :D

I don't average payments over a year because if the child leaves part way through I might end up owing parent money which I wouldn't want.

Miffy xx

[Angy Luffman]

I invoice monthly and in advance because I have had a couple of bad experiences when parents paid in arrears. 99.9% pay on time but there are the minority that don't and take advantage.

[SJ35]

Thanks all :)
I have spoken to parents and they all want to pay cash weekly :) makes it simple for the time being anyway.
And another one is only a 6 week contract and they are going to pay all up front when they come to sign contracts tomorrow :)
At last things are looking up!!
I'll have a 9 month old three days and a 22 month old 5 mornings. And also a potential 2year old on sat and sunday daytimes too!
Stacey x

[LittleLegsCM]

Well done Hun :thumbsup:

One thing though, if you are using a business bank account (which should be the case) be careful with cash when depositing into your account. Most banks charge a % as a sort of fee (bit like how PayPal do) so if you haven't got free banking you could lose out. Direct transfers are normally free either way (as the bank aren't paying someone to deal with the transaction) so you might want to think about changing to that in the future x

[Hayley102]

I charge monthly and in advance.

[miffy]

Thanks all :)
I have spoken to parents and they all want to pay cash weekly :) makes it simple for the time being anyway.
And another one is only a 6 week contract and they are going to pay all up front when they come to sign contracts tomorrow :)
At last things are looking up!!
I'll have a 9 month old three days and a 22 month old 5 mornings. And also a potential 2year old on sat and sunday daytimes too!
Stacey x

Pleased to hear things are looking up for you - well done! :thumbsup:

Miffy xx