Childminders or Parents- Accepting Accor Vouchers

[shiningstar]

Hello i have a family that pay by accor vouchers, however they are paying the full amount each month of £243 and this is always way too much so they are always way ahead in payments. i know this has implications for tax and NI as these vouchers are free of these so i can never give a refund due to this. Can you use these vouchers to pay the exact invoice amount each month? if you can do this it will be so much easier! can all you knowing parents or childminders help me!

I get accor vouchers, and I can ask for the vouchers to be in whatever denominations I need, so at the moment I get £243, by getting 1x100, 2x50, 3x10,2x5,1x2 and 1x1 - then I can use them like bank notes and pay the exact (or nearly exact) amount.

mine goes directly into my bank from my parent. i should really have found this out before i started accepting them but i just assumed they would pay the actual amount each month!

Anyone please help!!

We pay our nanny (in part)using Accor vouchers straight into her bank. The full amonunt is less than we pay her, so we don't have your problem. However, I am pretty sure we can either set up to pay a fixed amount each month, or ask for a given amount each month. The excess vouchers would just accumulate in the parent's Accor account, which they can only use to pay for childcare, but can 'save up' for the future.

The parents will be getting the amount deducted from their payslip, so unless they want to 'save up' they are loosing out on the money. But they may be tied in to a fixed agreement with their company for a year before they can change.

IIWY, I'd discuss this with them: there are many potential problems with they running a big credit balance with you - not least that the money is 'lost' if you were to cease childminding for any reason! I would suggest they stopped paying altogether until they are 'evens' with you, and then set up a transfer from their account for the right amount (is it always the same each month? they may even be able to set a regular amount each week). Then the excess money accumulates in THEIR Accor childcare account rather than your bank.

HTH

All the voucher payments I've received (allsave, busy bees) have been the right amount. People often under/over pay by small amounts and I show the balance carried forward on their next invoice.

One parent overpaid by bank transfer. The credit built up, then they paid me one friday (dh was out of work so I got up to date on our bills on the sat). Then they gave notice on the monday. so, together with their deposit i had to find nearly £1000 just before christmas.

So in future I would just give a cheque refund if they hadn't deducted it from the next bill. Also if I hadn't paid the excess back during that tax year it could have given me a higher tax & ni bill myself.