It’s no secret that collecting childcare tuition is one of the hardest things you have to do as an owner or director of a childcare center. Parents who pay late always have an excuse. The fact is, they are just paying you last (or not at all) and putting your business—your livelihood—at risk.
By creating policies (and adhering to them) you can avoid a lot of late payment situations. For example, charge a late payment fee and stick to it. To make sure parents know your policies, post them in an obvious place or give them a handout. Be aggressive about collecting on time. If you’re passive, you will have delinquent accounts.
Daycare Tuition Collection Made Easy
For many people who use Procare Software, the issue of daycare tuition collection is a thing of the past. By using Tuition Express, Procare’s tuition collection and payment processing service, centers can eliminate handling paper money or checks. Payments are received 5 different ways (outlined below) and tuition fees are deposited to your account overnight. Parents are automatically emailed receipts and can check their balance online at any time!
Easy Ways for Parents to Pay – And For You to Collect
- Electronic Funds Transfer (EFT) – Weekly or monthly payments transfer from each parent’s bank account directly into yours. Learn more about Electronic Funds Transfers for Childcare.
- Recurring Card Payments: Store encrypted parent credit card information to collect tuition payments when they are due.
- Card Swipe Processing for Childcare: Parents pay just like at the grocery store by swiping their debit or credit card at a card reader connected to a computer at your front desk (or a staff person may swipe the card for them) and you get the lowest card processing rates in the industry.
- Online Payments for Childcare: Parents can pay at their leisure–from work, home or on the go.
- Pay at Check-In: Parents see their balance as they check in and simply swipe their card to pay. The Procare Touch Check-In Computer includes an integrated card reader, or an external USB card reader may be attached to any computer.
Since Tuition Express is fully integrated with Procare, payments and are automatically recorded to each family’s ledger card and deposit reports are created for you.
Tuition collection can be a time-consuming and unpleasant task. Tracking down parents to collect checks or remind them of upcoming payments is an inefficient use of time, but is necessary to ensuring regular cash flow at your center. With Tuition Express, payments can be automated—giving parents the flexibility they need, while ensuring your center’s tuition policies are adhered to and payments are received on time. That’s tuition collection made easy.
Learn how to enhance your childcare payment processing with Automated Tuition Collection from Procare.
Interested in making your childcare billing process more efficient? Check out these related articles:
Has the “empty pocket syndrome” ever struck at your child care center, daycare or preschool? It goes something like this: You accept payment from a parent, in good faith, and provide quality care for their children. But later, you discover there wasn’t enough money in their account to cover their check or auto-draft payment, or their credit card ended up being declined.
So, the parent’s pocket was empty and now so is yours. Ouch!
In a perfect world, your child care business would never have to deal with payments gone bad, sometimes known as non-sufficient funds or NSF transactions. But still, there is good news. There are ways to minimize your risk and simplify the process of reversing a payment, when needed. You may even want to charge the parent an extra processing fee and resubmit a request for payment. Continue reading
“Is there a way for parents who currently pay by Tuition Express to look at their account history online?”
The answer, of course, is yes. We’ll get to the details in a moment.
For those of you who may not know about Tuition Express yet, it’s an innovative payment processing service that works with ProCare Family Data & Accounting to automatically collect tuition and other payments for child care centers, daycares and preschools. Fees may be electronically deducted from parent bank accounts or charged to a credit card. Either way you get paid on time, every time. And, it’s extremely secure as ProCare Achieved Level One PCI Security status.
Now, to the part about how parents (and center owners / directors) can view their payment history online. Continue reading