Working out Payments x 12 months

[Mamma4Ya]

For those of you who work out your payements as weekly fee x weeks you work / by 12 months so that you receive payment every month, how does this work out if they leave early?

Sorry if its a simple answer I have never been good with maths I would rather invoice this way so that I know I have money coming in every month even when on holidays.

[green puppy]

You would have to work out the actual fee for the time they have been with you compared to what has been paid. You may be owed some or may need to refund some, make sure this is clear from the start so parents know they may need to top up owed fees.

[MAWI]

Ive only done this once and never again.
It obviously is a good option for some.
I found that when they decided to leave early it was a bit all a bit of a head ache because mine were school children, 3 from same family but all doing slightly different hours term time and holidays ( I know thats not normally the case), then the parent would dispute what theyve used from six months ago ...so as Green Puppy said, I had to go back and compare all hours used on attendance register to everything that had been paid.
I dont want to put you off because it is good to get the monthly payment, I have 12 parents to invoice and so I just couldnt actually be bothered with it, lol.

[murrayspud]

I would work this out based upon hours of care eg 8-6pm = 10 hours x no of days per week care is provided x weeks per year worked then divide by 12 = your monthly fee.

You will need to factor in holidays if you are going to get paid for them at half fees, and any late payments you may need to apply seperately each month if there are any and if you are going to charge for them, and anything else you ay charge for (eg meals etc etc).

If children leave early then so be it. You won't be out of pocket and constanlty figuring out if you have been over paid.

Hope that helps

Kathryn x

[handeme]

I do this and I put and additional charges on there invoices in arrears, such as trips out, late fees and additional hours. So much simpler.

C x

[madmamma]

I would work this out based upon hours of care eg 8-6pm = 10 hours x no of days per week care is provided x weeks per year worked then divide by 12 = your monthly fee.

You will need to factor in holidays if you are going to get paid for them at half fees, and any late payments you may need to apply seperately each month if there are any and if you are going to charge for them, and anything else you ay charge for (eg meals etc etc).

This is what I do.... Work out contracted hours, holiday fees, etc over the 52 weeks, then divide the total figure by 12 to get monthly amount.

In addition, so both I and the parent know where we are financially, I note it on a receipt duplicate book which I fill out to confirm payments received:

Date
Invoiced to Mr/Mrs x for week/month commencing

Balance Brought Forward £xx.xx (Debit/Credit)
Received on date £xx.xx
Balance £xx.xx (Debit/Credit)

This way, if I don't happen to have my books up to date (Shhhh lol) I still have a record of where we're at iyswim