Choosing the Best Accounting Software for Your Child Care Center
You can deduct the portion of your home that’s used for your daycare business, plus your home internet, cell phone, and vehicle (if used for business purposes). Many business owners make the mistake of using their personal bank account for their business, but this can lead to confusion and costly accounting errors. From custom billing reports to subsidy management, we recap some of the biggest recent improvements to the brightwheel billing platform. It’s fantastic to have the money deposited so quickly with brightwheel billing. 91% of admins report that families find it easier to pay online with brightwheel.
- Not all families will have the same payment setups; some may require split billing due to divorce or have their payments subsidized.
- We believe in the application so much, that we know you’ll love it.
- As a child care provider, you’ll likely be paid upfront for your services.
- It’s helpful not just for understanding where your money goes but for preparing for any fluctuations in demand or unforeseen costs.
Create Professional Looking Invoices in Seconds
That means your daycare will always get low fees and dedicated support with fast funding at no additional charge. For a busy child care provider juggling many responsibilities, it’s important to find an all-in-one solution. And when assessing billing and accounting software for your child care business, it’s more than just simple number-crunching tools that are on the line. Using child care management software streamlines your operations, reduces your workload and minimizes the chances of billing inaccuracies. It also delivers on crucial security measures, keeping sensitive information safe while providing data-driven insights that inform business decisions. Traditionally, many child care businesses have relied heavily on paper-based systems or standard spreadsheets to manage billing and accounting tasks.
Automate Child Care Billing
All they have to do is click on the payment link that is included with the invoices you send them to pay online through Stripe. KidKare Accounting will then automatically record the invoice and mark it as paid in your records, saving you even more time. Procare is the only child care center management software with integrated proprietary payment processing.
But you get more than just features
Either the child care accounting software will smoothen your process, or it will come with a learning curve that sets you back. The right software for you will be scalable and automated so that it can grow with, and help manage, a developing child care business. Procare’s payment processing capability ensures flexibility by offering various payment methods. This allows your child care center to offer the payment methods that benefit your business while giving families the freedom to use the payment options they prefer. This facilitates a smooth and secure payment experience while addressing concerns related to rejected or declined payments. That’s why it’s helpful to have child care management software that offers multifamily or split-family payments.
Menu Production Records
Online payments are expected of every business, no matter its size. Accepting only cash and checks limit your ability to grow and attract new customers. The biggest advantage of paperless billing is the ability to set your invoices as recurring, so they’re sent automatically each time without you having to do anything.
Center Daily Attendance
It is a convenient way to collect payments, although not as simple as setting up recurring tuition payments using a debit or credit card, or by ACH. Starting a daycare center requires a love of kids, a lot of patience, and even more responsibility. But once you get your daycare off the ground, it can be one of the most fulfilling businesses to own. It’s just a matter of keeping your families coming back and staying on top of your accounting. Brightwheel’s latest billing platform is compatible with Quickbooks Online.
When a child has divorced or separated parents who are both responsible for child care payments, the situation can create additional hassles, both among the parents and the child care provider. Save yourself hours while knowing your employees are all getting paid on time for theirs! Child care accounting software can keep you from wasting time and offer better organization for owners and operators. The real challenge is finding one that fits your budget, doesn’t limit your growth, and makes accounting less of a burden. We even make it easy to connect to other specialty systems such as payroll to make Procare the one-stop hub for everything you need to successfully run your center.
When you have a realistic view of your numbers, you’re more prepared when it comes time to implement changes in your business. You’ll want to increase your profits and have confidence knowing your business is thriving. In this guide, we’re covering how to manage your bookkeeping and accounting like a pro so you can spend less time in the spreadsheets and more time doing what you love. But what if you do if you don’t have an accounting degree and numbers leave your head spinning?
If you are reviewing your child care accounting options and find yourself wondering whether one will help push your business forward, it might not be right for your child care center. Ask yourself, will this software place me in a better position to succeed three months, six months, and one year down the road? Any accounting software that you invest in needs to push your business along and help you get to where you want to be.
That is critical time that can be spend on caring for and educating the children in your care. Use Procare’s daycare accounting software to pull reports with a few clicks of your mouse to help you make informed business decisions. Easily compile monthly and year-end tax statements, total revenue and income reports, balance sheets, customer statements and more, giving you a full picture of the health of your child care business. Incorporating accounting software at your child care center has distinct advantages for both your business and the families you provide care for daily. These advantages include gaining the ability to track family information, improving your bookkeeping, managing tuition payments, and maintaining your cash flow. Get a full understanding of your company finances and make profitable business decisions based on revenue flow.
Fortunately, doing accounting for your childcare business is easier than you may think. It simply takes the right tools and a repeatable process to make managing your books a breeze. Fill out the form below to get a complimentary demo of brightwheel billing and learn how easy it is to set up and get started. An organized childcare billing system is essential to the financial success of your business.
Here’s a video that shows how simple it is to create an invoice using our accounting software. Our extensive library of step-by-step instructions makes the learning curve easy. Procare Solutions partners with some of the most popular products and services that you use at your center, including Gusto and QuickBooks. You have everything you need to manage your child care accounting like a pro.
This guide covers seven steps to create an efficient billing process. Parents love that they can see exactly how much they owe, right on their phones. Eliminate late payments with automated billing services and payment reminders. Making an invoice recurring in KidKare Accounting is as easy as ticking a box.
