Your ability to maintain and grow your childcare business relies on your ability to obtain payment for your services. Regardless of the economic status of your clients or any reason they may have for paying you late or not at all, you need a steady cash flow to meet your own obligations.
While providing childcare can mean lots of fun and games, at the end of the day it is a business. Keeping track of billing and payment is part of the job if you want the business to stay in the black.
Reports are essential for running a successful business and remaining compliant with state and federal regulations. You cannot consider anecdotal evidence when making business decisions and when government agencies demand documentation.
EZChildTrack’s online billing feature streamlines your billing and invoicing activities through automation and electronic communication. Performing all the necessary accounting and financial functions for accounts receivable using a manual process takes hours every week that you could be spending on curriculum planning and business growth.
Welcome to a taste of our ebook “10 Ways Childcare Management Software Can Improve your After School Program.”
How many hours do you spend each month on billing and payment processing? If you still perform a largely manual process, you are spending time that is better used operating and marketing your business.
Cash flow management can be a challenge for any small business. If you are still performing your billing tasks manually, you are spending quite a few hours each month printing and distributing invoices then handling payment as it comes in.
Even though Tax Day comes three days later than usual, it still strikes tension, if not fear, into the heart of every self-employed person in the United States, including those who operate a daycare business.
A budget is essential for running a profitable childcare center, and the need for budget tracking is one of the many compelling recommendations for using childcare management software. But how much does it cost for childcare software? It depends on your needs.
One of the most time-consuming tasks in a childcare facility is managing the money. Childcare is more like a subscription than a purchase, meaning you must send out weekly or monthly bills, receive and process payment, take care of refunds, and pay taxes.