Deposits

[Maza]

When do you pay back deposits?

I always used to pay it back once the child had left my care - often two or three years after they joined. However, I am reading that some people knock it off the first months fees - but then you have nothing to protect you if the parents don't pay several months down the line. My parents have all been fine with this.

I also insist on being paid a month in advance - again, no-one has had issue with this. However, tomorrow I am seeing someone who wants a full time place (I've only ever had part timers). It seems like an awful lot of money to be asking for up front - one months worth of care plus a two week deposit. How do you all arrange it (if that's not too personal a question).

I'm not asking for a retainer as they want the care quite soon.

[loocyloo]

I just charge a £50/day ( so if booking 3 days, £150 )deposit, and that is refunded in last months fees. BUT, if they leave within 6 months of signing contract, then deposit is NOT refunded. ( there were a spate of local parents signing contracts for several settings and then expecting refund when not using a setting! )

I charge in advance and also a £15 per child registration fee to cover all paperwork etc.

I've never had anyone complain.

Good luck x

[Dragonfly]

I don’t ask for deposits so wouldn’t know how it works 🤔 I don’t charge up front either never had.Good lunch Maza for the visit.

[Mouse]

I ask for the first week's or first month's fee up front as a non-refundable deposit. That pays the first invoice.

If parents are paying weekly they pay on the last day of their week in advance for the following week. If they pay monthly the fee is due before the 1st of each month.

I have to be honest, I've never had a problem with payments and I've never had anyone leave owing me money.

[moggy]

If the care is starting very soon I wouldn't charge a deposit. I'd just charge for the month in advance as usual.
Always 'No fees = no care' that solves the problem of people not paying in the future.
I do charge a deposit if it is to reserve a place in the future (like 2-3 months away) which is deducted from the 2nd month's invoice.