Payment Boxes

[Abigail]

How do your parents pay you? Do they hand you a check every week or do you have a box on the wall with a lock on it or do you put out a box on payment day?

Also, do you have a binder or something that parents write their check number and the date and sign or initial when they bring it in? We do that, but wondering what others do. Thanks

[BentleysBands]

I keep a log of who pays what..i only accept cash but mark it as such...the parents hand me the $ and i count at that time.

[legomom922]

My week runs from Fri-thurs. On thurs, or the day before their last day here for the week, I put an invoice in their bag that I printed up on MMK, along with their daily form, newsletters, etc, and then when they come on Fri, they pay me. I like cks best, as I feel it would be easier to prove in an audit. After reading Toms book, it says that if you take cash, you have to record why you didnt deposit it, or all of it and you have to keep track where it went. That it more work! So if you take only cks, its easier to track. Then I also log the payment into MMK along with the ck number.

The reason why my week runs from fri-thurs, is because that way, if they are late etc, I can include those fees easier on paper, and slip it in their bag. I hate confrontations, so it makes it easier for me. If they are late on fri, I just put put it on their invoice that I send home on Thurs. No questions asked.

[daysofelijah]

I have a little box on a shelf in the entryway. This way the checks are all in the same place and I don't have to worry about misplacing them. Two parents pay me every Monday, the other pays me every other Friday. I log them in on MM, but I always forget to record the check number before it goes to the bank.

[MarinaVanessa]

I prefer to ask for it at pick-up on Fridays if they don't automatically give it to me rather than to keep a box or something. This way I don't have a problem with someone saying that they paid me when they didn't or something. I write a receipt right away and hand them a copy. Most are really good about it though and pay without me having to ask and do it at drop-off.

[BentleysBands]

I have a little box on a shelf in the entryway. This way the checks are all in the same place and I don't have to worry about misplacing them. Two parents pay me every Monday, the other pays me every other Friday. I log them in on MM, but I always forget to record the check number before it goes to the bank.

haha, had to re-read as i saw litter box instead LOL

[SilverSabre25]

Parents just hand us the payment. I'd never thought of doing anything different.

After reading Toms book, it says that if you take cash, you have to record why you didnt deposit it, or all of it and you have to keep track where it went.

Hmm...that's interesting. And good to know. And um...crap. I'm really worrying about taxes this year! I didn't know even a quarter of what I needed to know about taxes before I started! And it's a little late to go back and do better about keeping these records!

[misol]

My parents hand payments directly to me in cash or check. I log the payment date and check number or cash amount in my sign in sheet next to the date they paid.

I am confused about having to prove a cash payment. Sometimes I deposit the cash and sometimes I don't. Is there something somewhere in IRS rules that says if you are paid in cash that it has to be deposited? I would think that we could just prove it with a receipt, no?

[Abigail]

Parents just hand us the payment. I'd never thought of doing anything different.


Hmm...that's interesting. And good to know. And um...crap. I'm really worrying about taxes this year! I didn't know even a quarter of what I needed to know about taxes before I started! And it's a little late to go back and do better about keeping these records!

It's not too late, LOL. It's the beginning of November which gives you TWO MONTHS....that is what is asked for record-keeping estimates....to start keeping track of things.

1. Keep track of attendance. Sign IN and OUT each child with a parent's signature. (Make the parents responsible for it, it's one less thing you need to worry about)

2. Create a Payment Log Book. We have the parents just write in the date, check number, and sign it. This is available for everyone, but if you create one sheet per family and put it under their attendance tabs for each child to have their own page, then you can have the parent write the actual amount of the check too if you'd like. Make sure the parent AND you initial providing everything matches.

3. Keep track of any additional hours you are spending time AT HOME doing daycare related things...cleaning, organizing, changing out toys. Washing dishes, vacuuming and washing floors. Cleaning windows and taking out the garbage. If you write a general list of what it is you are doing and put on the calendar or in a notebook from what time to what time you are doing it, then it counts as record-keeping. More examples of work-related things that you can start documenting that take place after hours are interviews of prospective clients, emails directly related to daycare, phone calls or meetings with another provider regarding business topics or even researching online for recipes for daycare and activities for crafts, etc. Everything within means can be counted towards your time-space percentage. Most spend about an hour a day doing business-related things IN THE HOME while children are not present. I say in the home because you can not count the time you spend shopping for food or bargain hunting.

4. Meal counts, just make sure you're keeping track of how many meals you serve. You can claim up to 6 meals a day per child. Breakfast, Lunch, Dinner, and three snacks. Create a menu of what you're typically serving the children too if you haven't done so already.

The good thing is now you know for next year, right?! Good job for looking to learn more about record-keeping. It's trial and error.