Prorata

[Stoney666]

What's the best way to work out pro
Rata payments for a term time only place? I don't won't to be left short should they leave.

I do only term time only contracts, but I don't pro-rata them. It seems more straightforward to me to charge when I have the children and not when I don't. None of the parents seem to mind this. It may not suit you though.

I think if you get payments at the start of each month, and say that notice must be given in term time then you shouldn't end up out of pocket.....

It's the client who wants it as payments are less spread out that way.

I have parents paying by standing order and I give them a statement each month showing actual charges for the month and how much they are over or under. It also states that the balance is payable/refundable if they leave.

If you don't want to do it, you could give them an estimated total for the year, they can set up a standing order to their own savings account and pay their bills out of that ... no extra work for you then.

I find a month up front and a month's deposit always covers a shortfall in payment.

I
Have done the following and my brain is frying as I am a month down?

39 weeks of term
13 weeks school hols
Sept till aug
I am down by exactly one month.

Maths really is not my thing

There are 52 weeks in a year so the maths above adds up to me.

I do this for one of my TTO parents. I do an invoice each April showing each week's anticipated fees & a total for the month. At the end I add it all up & divide by 12 and that is what they pay.
They get a quarterly statement showing how much paid/still to pay.
Any extra hours are paid monthly
I always take a deposit plus fees in advance

For my other TTO parents and for my benefit all mt fees go into a separate account. I work out what I estimate my annual fees are going to be based on current children and any new starters I'm aware of, taking into account my holidays (no fee). From this total I deduct the equivalent of 3 days fees (to allow for unexpected closures) and 20% for tax/NI. I divide the remainder by 12 and that is the amount I transfer each month into my current account for bills, etc. In this way I have roughly the same income each month instead of having big drops if I'm on holiday. If someone leaves/joins I recalculate