We make it easy to set up all your childcare and school-age programs. Let parents or administrators enroll the children.You’ll be able to control enrollment, class capacity, scheduling, staffing, and tuition fee billing with very little effort.
Every organization benefits from efficient and well-managed finances and your center or school is no exception.
To ensure that you are operating in the best financial state, iCare’s accounting software for daycare businesses offers features specific to your needs.
iCare uses the ledger system for receivables accounting instead of the invoicing method. All transaction charges, credits, payments and refunds are posted sequentially in the Receivables Ledger. This means you don’t process payments with charges. The Ledger keeps a Running Balance, which makes it easy to review and reconcile accounts.
Debits and credits are handled on a first-in and first-out basis. The Receivables Ledger is backed by a General Ledger and Chart of Accounts, making it easy to connect with third-party financial systems.
You will most likely set all tuition charges to be posted automatically. But, here are some examples of charges and credits you may need to post individually or in a batch
If you require parents to pay a deposit for say the last month’s tuition, you can do that via the Deposit Ledger. The deposit payment will be posted in the Deposit Ledger. At the end of the child’s term you’ll simply do an Apply Payment transaction.
Shared or independent ledgers for split families. This allows for accounting that is easy to understand and reconcile. In this case, a parent sees only her or his ledger. Parents can choose to share their ledger with the other parent though. In which case, a parent will see two ledgers theirs and the shared one.
Revenue accounts setup and posting for exporting revenue data to any third-party accounting systems like Quickbooks.
Both debit-credit, banking type ledger and invoice-clearing payment process available.
The subsidy account and ledger are like the private account and ledger, but with some differences and it includes methods for checks and reconciliation: