Payments calculated over 12 months

[boxtree7]

I have a parent who pays the same amount every week this amount (£144.00) is based on 12 months minus holidays etc (tax credits) - I am due to finish childminding on 24 August 2012 - The tax credits started from April 2012 and my last payment will be Friday 24 August. Do I need to recalculate my weekly amount as I am finishing and I have 1 child extra hours over the holidays.
I really can't work this out my mind is all over the place at the moment. How do I work out what I am owed. Thanks.

[rickysmiths]

If you add up annual fees taking into account holidays etc and divide by the number of weeks you work or by 52 you need to keep an account week by week from the date the arrangement starts which records what is actually paid and what is actually due so you know each week so when the parents leave you can see if they ow you anything or if you need to pay them anything back.

If you haven't done this then you will need to go right back and work it out I'm afraid. So back to April if that is when she started paying this way.

How has she paid the extra child's fee? Surely she has paid extra for this if it is just for the holiday?

[Chatterbox Childcare]

Have you written in your contract that if the child finishes before 31.03.13 then you need to recalculate? If not it is just a monthly fee and nothing needs to be done.

[boxtree7]

i never taught of putting this into the contract. Yes it all calculated over 12 months the additional child's costs are included when I calculated it charges over 12 months.

[rickysmiths]

Then you are going to have to break down all the different costs and work out the actual cost compared to what they have paid to see if there is a difference.