Bookkeeping for your Child Care Business 

Bookkeeping for your Child Care Business. Find helpful tips and tricks here to keep your business organized and running smoothly. || www.childcareatbest.com

Are you responsible for bookkeeping in your child care setting?  In this blog post, I will share a few tips I’ve learn in owning a home child care business

Keep a box on your desk to collect receipts.

Whether you are running your own business or the director of a child care program… you need to record every penny you spend.  I don’t always have the chance to sit down and record each receipt after buying groceries or supplies.  So I keep a box on my desk where I put all my receipts until I can record them on my Excel spreadsheet.

Record each payment as it comes in.

Now, this seems simple in theory, but when I’m busy with the children, I need to remind myself to take a minute to record a payment a parent handed me as two toddlers were having a tug of war over a toy.  Recording payments as they come in makes life so much simpler when payment concerns arise.  Make sure to record the accurate date.

Keep payment records in more than one place. 

Having a paper record book is the easiest way to keep track of incoming payments, especially while on the floor with the children. Having a copy online is also helpful in case your record book is misplaced, or in the worse case scenario, a fire. I make sure to sit down and enter payments made into an Excel spreadsheet once a week.  This is then saved to my cloud account. You can open a cloud account for free and is essentially online storage where you can keep documents and photos. After signing in on a different device,  all your documents and photos are in once place!

Buy triplicate record books.

This tip saves time and energy.  By using triplicate record books, you have three copies of any receipts written.  So, the next time that parent who misplaces their child care payment receipt asks you for a new copy, you have a spare all ready to go!

Keep a copy of each family’s year-end receipts. 

Again, this is as simple as photocopying year-end receipts before handing them out to parents.  This way, if a parent happens to lose their copy, you will have one ready to go.  I keep mine in the child’s information file, so it is easier to find.

 

Are you self-employed?  Have any other helpful tips and tricks?  Please comment below to share!

4 thoughts to “Bookkeeping for your Child Care Business ”

  1. Thank you for your informative articles. I have been doing child care from home for 18 years, but you can always learn or identify with new ideas.

    1. Thanks for stopping by! We all are continually learning and growing 🙂 I’m glad you’ve found some helpful information.

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