- Global, program-based, and child-specific billing rules
- Bills calculated based on schedule, attendance or a combination of (schedule + attendance)
- Frequency of billing by day, week or month
- Billing period like hourly, daily, weekly, bi-weekly, semi-monthly, monthly, and quarterly etc.
- Selectable posting day like Friday before the billing week, Monday of the week, or on the 28th of every month
Most Methodical Child Care Billing Software
Have difficult billing? Meet the right child care billing software.
Unless your center has a high brand name, you offer flexible packages to fill your slots and to fully utilize staff. But flexibility is hard to handle both operationally and accounting-wise.
To truly solve the billing and budgeting problems, you need the following features developed exceptionally well:
- Global settings of billing rules so little or no manipulation is needed for each child.
- For schedule-based packages, automatically post charges for attendance beyond schedule.
- A rate chart modeler that handles any rate factor so you don’t have to do the math yourself for each child and family.
- Audit trail with change history for validity of your accounting data.
- A posting process that fits your business rules – frequency of billing, consolidation period, and descriptive details, etc.
- Billing preview for verification of your data and budgeting.
The Power behind an Exhaustive Rules-Based Childcare Billing System An adaptable billing system should let you pick your billing preferences, such as:
The Rate Chart Modeler
If your rates are based on conditional factors and days and hours scheduled or attended, the billing amount has to be figured out individually for each child. The iCare Rate Chart Modeler does it for you automatically. It has 30 configurable factors that can model any billing scenario you have.
Here are a few examples:
- Age-Based Rate: When a child reaches the next age bracket, the rate of that bracket will automatically be applied to the child.
- Sibling Rate: If you have different rates for child 1, 2 and 3, and on one day 2 children attend and on another day 3, then the correct child-number-based rate will be automatically applied.
- Family Income-Based Copay: The private copay in subsidy vouchers may be based on family income. You will simply input the family incomes and the Rate Chart will then pick the right amount automatically.
- Number of Days and Hours: Instead of daily and hourly rates, perhaps you have bracketed rates. For instance, a flat fee for up to 5 hours and over 5 hours, or up to 3 days and over 3 days. Also, you could be having the rate based on the schedule or attendance. In all such cases, the Rate Chart will figure out the amount automatically for each child.
- Membership Discount: You could be selling a monthly or yearly membership and the rates may be based on that.
- Minimum and Maximum Amounts: For variable rates, perhaps you have a minimum and maximum amount to be charged.
- Holidays and Special Days: You may be having special rates for holidays, school half days, and school closing days, etc.
- Special Days and Times: For instance, Mommy’s Day Out, every Friday from 6 PM to 11 PM.
- Program Type: For instance, Pre-K 2 Days, Pre-K AM Program, Infant FT, and Afterschool PM.
Handling Flexible Packages
If you offer flexible packages letting parents pick days and times, it is a great selling point to attract parents that have flexible or hybrid working hours and don’t need full time care. There are 2 major issues with this though – scheduling your staff optimally and matching children’s attendance with their schedules for calculating overage charges.
iCare provides you a comprehensive platform for managing flexible scheduling handsfree. Here are the 2 sides of the flex billing platform:
- Billing Attendance Over Exact Scheduled Days and Hours: Attendance beyond the exact scheduled days and hours to be billed on a predetermined rate of daily, hourly or some other formula. For example, a child is scheduled for Monday and Wednesday from 8 AM to 3 PM but the child attends on Monday and Tuesday from 9 AM to 4 PM. Even though the total days and hours attended is the same as scheduled, yet under this method the child will be billed 1 hour extra for Monday and a whole day for Tuesday.
- Billing Attendance Over Total Schedules Days and Hours: Billing Attendance beyond the total scheduled days and hours to be billed on a predetermined rate of daily, hourly or some other formula. In the above example, under this method, the child will not be billed anything extra at all.
Transparency, Control, and Monitoring of Accounting Transactions
Your accounting system should manage your operation well but it itself should also be simple, complete, and manageable.
- For every transaction you should be able to tell who did it and when
- You should be able to authorize who can add, edit or void transactions
- Reports should allow you to find trends and areas of strength and weakness
- With access to their ledgers, parents should clearly understand what each transaction means so unnecessary questions can be avoided
Projections and Budgeting for Childcare
You need proper billing projections for both budgeting and to make sure every child attending will actually get billed for every billing period for the correct amount. Here are some examples of questions you may ask yourself, which iCare will answer:
- Is everyone going to be billed?
- What the future weekly and monthly revenues will be?
- How many children will be billed in a certain future period?
- How much revenue is expected from each program over time?
- How many staff will I need around Christmas?
- How does my next school year’s budget compare to this year’s revenue?