invoices/payments

Hi was just wondering how people keep record of the fees etc that come in.

I have some that pay weekly, some monthly in advance, some monthly in arrears and some that pay four weekly.

Should i put the amounts paid in the relevant months that i have earned that money or under the acual month/week that i receive it because the ones that pay in arrears pay me at the beginning of the following month so not sure which month to put it under. Also i now get NEF funding payments and am not sure how to document these, should i just put them down on the date i receive or do i work it out per month etc. Thanks for any help

I have always put the fees down on the date that they are given, with the monthly ones I put it as i say on the day it is given and put
the month that it relates to, as like you I have weekly monthly in advance and montly in arrears. Not really sure if this is correct but
this is the way I have always done it.

I have parents who pay weekly in advance , monthly in advance and monthly in arrears , so some pay me once a month , some pay me 4 or 5 times a month

On my income form I have monthly amounts for all parents , it keeps it simple

eg
February
Child a....£400
Child b ...£320
Child c....£600 ....etc

otherwise it would get too complicated

All parents pay straight into my bank account , so if ever I needed to show all the payments , they are on my statements

I have an old fashioned invoice book (with the carbon slip) which I fill in with childs details,amount of hours,period that covers and amount owed and give parents the top copy-I then have the bottom copy left in the book if I need it...oh and I use a new book each tax year.

All of mine pay monthly in advance luckily so that makes it easier-I normally give them out about the 25th of each month.

Some pay cash and some pay bank transfer,one is paid by college funding in arrears but they send me a bacs receipt which I file too.

does anyone have NEF funding coming in, not sure how to put this down either

For my NEF I just put it in the month it comes in. So tomorrow I'm due to get about £650 so that's documented in Feb :)

Is nef like feet funding?? Funding for free childcare for 2 yr olds from council

Quote:

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Originally Posted by JCrakers

For my NEF I just put it in the month it comes in. So tomorrow I'm due to get about £650 so that's documented in Feb :)

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i have several funded children so do i have to split the amount between them to mark it down per child or is it ok just to put a total and mark down which children it is for

Quote:

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Originally Posted by KatieFS

Is nef like feet funding?? Funding for free childcare for 2 yr olds from council

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hi it is the funding for free twos and the free three and four year olds

One parent pays me in arrears and one person pays me in advance. I have NCMA accounts book so I just put it in there for the month I earned the money not ness received it as they don't lay until 1st of the month
And I issue an invoice on 25th of each month to each parent that states the payment I receive the previous month and how much is due for this month coming

I have a diary which is only used for fees. I write down what the weekly fee is for each child on the monday and tick when it has been paid writing the actual day it was paid next to it. I also have a reciept book with the carbon paper underneath, so parent gets a copy and I keep a copy for records. New diary and new reciept book for each new tax year.