Do you recieve vouchers from computershare?

[Minstrel]

CAn you tell me if it is possible to set up automatic payment dates with this company?

I have a parent who is late every month and tbh I'm sick of it. It's very few hours so I know she thinks it doesn't really matter and always has an excuse. This month she told me they were way until the 30th I said that's ok as long as the tau ate the vouchers that very same day. Well I've still heard nothing. Have emailed a polite reminder saying they must pay ASAP to avoid a late charge but still nothing. And so I'm cross.

I'd like to suggest they set up automatic payment but not sure if it's possible to do that when the invoice is different each month.

[amanda1309]

I get payment from computershare straight into my bank but I average my payments out over 12 months so the amount each month is the same. I don't know if you can do it when payments change each month.

Ring computershare yourself and ask the question.

[Dragonfly]

Same as above.But I think parents can put the date the payment is due.Like a standing order?

[bunyip]

The CM's bank is definitely the CM's agent. The CV company is a kind of mutual agent for both the CM and the client, cos both have their respective accounts with the CV company.

And it's the banks' processes which are responsible for the delay between the CV company authorising the transfer and it being credited to the CM's bank account. For instance, in this day and age there is still no satisfactory reason as to why all the banks refuse to switch to a system which allows their computers to run transfer data over weekends and bank holidays. (I'm reliably informed they run these transactions using huge spools of tapes which are moved around the City by motorcycle courier around close of business on Monday-Fridays. )

As long as the money eventually reaches our bank account, then we're rather obliged to accept the date of settlement (ie. accept we've "been paid") as being the date on which the CV's arrived in our CV account. It's not that dissimilar from accepting a cheque. So long as the cheque doesn't 'bounce' then the recipient has to accept they've been paid from the moment they accept the cheque, not wait for it to clear.

[Simona]

CAn you tell me if it is possible to set up automatic payment dates with this company?

I have a parent who is late every month and tbh I'm sick of it. It's very few hours so I know she thinks it doesn't really matter and always has an excuse. This month she told me they were way until the 30th I said that's ok as long as the tau ate the vouchers that very same day. Well I've still heard nothing. Have emailed a polite reminder saying they must pay ASAP to avoid a late charge but still nothing. And so I'm cross.

I'd like to suggest they set up automatic payment but not sure if it's possible to do that when the invoice is different each month.

Yes it is possible but it is the parents who have to set it up
Work out the date you wish to be paid by...say 1st of the month...and the parents can set up an automatic transfer every 27th of the month before to get into your account as it saves them the time to log in each month and avoids them forgetting.
Good luck

[starschildmind]

I had a problem with computer share.

The vouchers get issued to the parents when they are paid from what I gather. Then they have to submit the voucher so it comes into our computer share account.

I had mine set up for the 28th. However 1 month 1 mum forgot to send her voucher. She didnt do it till the 1st. By the 7th I asked.. she said she had sent it so I rang them. As I had set the payment date up to be the 28th, it wouldn't have been sent to my account till the 28th of that month. I had to change it to daily so as soon as she sent the voucher it would hit my account 3 days later.

Does that make sence. Not sure if it answers your question. I would ask her to pay you cash and not use the vouchers if shes being a pain or ask for it on time xx

[Chatterbox Childcare]

My parents don't have vouchers, money straight into their account by wages and on the 28th each month computershare pay me.

Could it be that the parent pays more than the voucher of £243 and therefore she has to manually release it because it is different each time?

[Minstrel]

Thanks all. Their employer actually uses a different company now ( edenred) but because the bill is so small, they are still using the old computershare ones to pay me. The bill is actually only between £100 & £150 but they have a stockpile of vouchers to get through so we have no waiting of wages to be docked. The just don't do it! And I'm cross! I have late fees but that's not the point, I want to be paid on time.

[Simona]

Thanks all. Their employer actually uses a different company now ( edenred) but because the bill is so small, they are still using the old computershare ones to pay me. The bill is actually only between £100 & £150 but they have a stockpile of vouchers to get through so we have no waiting of wages to be docked. The just don't do it! And I'm cross! I have late fees but that's not the point, I want to be paid on time.

Minstrel...that explains why the parents are late because they have to 'manually' send the money to you each month which as you say can vary
They are using up the money in CS that has accumulated so the parent is forgetting to log on and send you the money

A standing order can only be set up if parents pay you the same amount each month either £243 or £124 (for those on higher income)

CVs are an employer scheme and each month the employer sends the right amount to the CV company they deal with before the parents get their wages
When the money is authorised to get to you the Cv company usually send an email the following day then release the money to you the following day which should get to you within 3 to 5 working days...not counting weekends or Bank Holidays

Yes they sit on the money longer than we would like but they also take a charge from the parents...that is how they make a profit
get the parent to pay you ASAP

God only knows how the new childcare tax scheme will work in 2015!

[bunyip]

Thanks all. Their employer actually uses a different company now ( edenred) but because the bill is so small, they are still using the old computershare ones to pay me. The bill is actually only between £100 & £150 but they have a stockpile of vouchers to get through so we have no waiting of wages to be docked. The just don't do it! And I'm cross! I have late fees but that's not the point, I want to be paid on time.

To answer your original question, yes Computershare can handle automatic payments each month, so long as the parent sets it up for the same monthly amount. This isn't necessarily desirable: eg. if you do some addition hours/charges which tend to vary the total month on month.

If your client is switching to Edenred, then I'd avoid suggesting automatic payments until she's fully used up her remaining balance from Computershare. Otherwise she'll reach a point where she may be trying to pay more than she has funds for IYSWIM.

You have every reason to be cross. The voucher system is so easy for clients to use, there's no excuse for late payments. I often get paid early by one voucher-using client, as she receive the vouchers in her account before she gets the rest of her salary in her bank account. We really shouldn't have to suggest auto-payments to clients just cos they can't be 4rsed to pay us. I don't mind wiping children's bums but do we really have to do it for grown-ups? If they were paid late, they'd be straight on the blower to their HR dept. I really don't understand the mentality of someone who, already tapping away at their PC/laptop/smartphone/whatever, can't spare 5 minutes away from FB to send the vouchers to the CM who has spent 100+ hours keeping their little darling alive for the past month.

I have a very similar policy to Rickysmiths. Paying by voucher is a money-saving priviledge, not a goD-given human right. Parents understand that I'm serious about withdrawing that priviledge and therefore choose not to pi55 me off over payments.

[k1rstie]

For the three voucher companies that my parents use, all their money arrives in my account on the 5th or 6th. RG can be even later.

Is this how the voucher companies make their money by sitting on the account (and my money) for a few day?

[starschildmind]

Could you ask for an amount upfront as the moneys sitting there. I.e .. £300 then you can just deduct so then you can just gibe back any left over?

[Simona]

Could you ask for an amount upfront as the moneys sitting there. I.e .. £300 then you can just deduct so then you can just gibe back any left over?

You can ask the parents to settle your outstanding fees ASAP by other means such as BAC/cheque/cash for this month from her own account and then she can use the CVs next month
Because she has money accumulated there she can pay what she likes...many parents have CVs but use them only during the holidays for childcare...they pay most of the fees out of the accumulated funds
Cvs do not pay any interest so parents are just not gaining anything by paying you late...ask 'nicely' but tell her you need your fees settled...NOW!!

Good luck! and let us know how you get on

[rickysmiths]

I have a simple system. Pay me late once and you get a warning, twice and you pay a late fee, three times and you pay me weekly in cash, no vouchers cash.

[Simona]

I have a simple system. Pay me late once and you get a warning, twice and you pay a late fee, three times and you pay me weekly in cash, no vouchers cash.

I do sometimes make allowances for late payments...just to show willing.... but I cannot understand why CVs cannot be paid on time? it really bugs me!!

[Minstrel]

Thanks Simona.

I'm aware of how they work. I receive vouchers from many parents over the years from almost all the companies including computershare. I'm just ****** off and sounding off.

I wondering what the problem is and why they can't pay on time. If they are all built up ready to use then they could have paid it before they went away. Mum is making it sound like they can only activate on the first of each month and this isn't true! Argh!!

[SJ35]

I receive computer share vouchers off one family. The parent got paid on the last Thursday of each month and only did the vouchers then, but then they didn't clear til 3rd or 4th of the month. (Should be the 1st)
I spoke to them in the end and they paid me cash for one month so they had extra vouchers in the account. Now they release the vouchers on 25th each month so it will clear by 1st of the month.
X

[bunyip]

I receive computer share vouchers off one family. The parent got paid on the last Thursday of each month and only did the vouchers then, but then they didn't clear til 3rd or 4th of the month. (Should be the 1st)
I spoke to them in the end and they paid me cash for one month so they had extra vouchers in the account. Now they release the vouchers on 25th each month so it will clear by 1st of the month.
X

Whilst I sympathise with this, do please take care.

If we agree to accept vouchers as payment, the client is only responsible for ensuring their vouchers reach our voucher account by the agreed payment date. How long it takes our bank (which is acting as our "agent" - not the client's) to process the payment from the voucher company is not the client's problem.

[Simona]

Whilst I sympathise with this, do please take care.

If we agree to accept vouchers as payment, the client is only responsible for ensuring their vouchers reach our voucher account by the agreed payment date. How long it takes our bank (which is acting as our "agent" - not the client's) to process the payment from the voucher company is not the client's problem.

I am not sure about this Bunyip...
if parents have for some reason not paid the CVs on time one month and want to pay us via another method then that is perfectly acceptable....all it means is that they have an extra lot of vouchers in their account to be used in future?...funnily enough that situation happened to me recently and the parent paid me 2 lots of CVs the following time

Does this require extra care??

You say that the bank is the 'agent'...in the employer, CVs company and bank triangle I believe the 'agent' is the CVs company due to the fact they are the ones getting paid to act on behalf of the parents... hold the money, transfer it at parents request to us and getting a fee for doing so too!

at least this is how I know it has worked for years... if it has changed I stand corrected!
BAC transfers used to take a long time, however, this transaction can also show in our accounts within minutes of being authorized as the system has improved dramatically!

again it is the CVs company that holds the money for at least a couple of days before releasing to the bank....that is why I said before it will be fun to find out how the new free childcare tax scheme will woprk out when it comes out in 2015.

[charlottenash]

The parent I get them from has just left and the vouchers were forever late, she showed me she had authorised it but it just was soooo slow