I'm after some advice........most parents pay me a set amount a month, calculated based on the year/12. Obviously when they leave, I have to work out who owes what to who etc. but all parents are happy with this.
I really really want the same way of being paid by all families, as it helps my calculations if it's just the same every month. But I have one family who pay me on an invoice by invoice basis. This means they pay different amounts each month and then in the school holidays, it shoots up.
Have any of you got a policy of ONLY being paid the set monthly amount? If so, did you ever have to chat to a parent and explain you could only accept payment this way?
The only other family that pay me as and when is my adhoc school holiday mindee. This is fine though as it really is only as and when I have a space, and I can count that as bonus money
So, any advice on how to handle this situation? Or do I just stick with the way it is, have messy figures, but change things so than any new business only pay set monthly amount?
I have one family pay me like this and it's great but it doesn't work for all eg; students that have lots of hols, changes in hours every term! & work experiance.
I know what you mean about having to work out who owes what if the contract ends early or the hours change. Also if you were to have a contract dispute you would end up paying out - this happened to a CM collegue - and she had used ncma contract and rang the legal advice people.
I have a mixture of monthly invoices and regular payments. The people who make regular payments are given a monthly statement, showing how far ahead/behind they are on their fees, so they are fully aware of any balances due if they leave. Most of the people who use me for holidays only do the monthly payments, so my income is more or less steady each month.
I send something that looks exactly the same as an invoice, except it says STATEMENT at the top and after the total for this month has a figure saying 'balance b fwd from last month' and 'balance c fwd to next month'.