QuickBooks is a powerful asset for any of those starting their own daycare, childcare, or preschool. It’s a specialized computer program that’s designed as a flexible, easy-to-use accounting solution. As a result, the program has become commonplace among small businesses and only continues to get more popular. Instead, use it for your day-to-day operations but have an accountant who you can turn to for your needs.

In case of an audit, they may request some records that aren’t on tax forms. As a child care business owner, you are more efficient in making business decisions when you have access to your P&L and financial statements (AR’s and AP’s) in real-time. Our certified QuickBooks Pro advisors will make sure you have this information in the palm of your hand and are kept up-to-date in real-time. Bookkeeping services can help you keep track of all the expenses and income, and even the tuition payments, your preschool sees. Do your research and be sure you select a service that can handle all of the bookkeeping tasks that you need to be done, at a reasonable cost.

Keep Track of Agency Payments for Subsidized Child Care

In addition to the scope of our services and the tailored approach we take to bookkeeping, there are several other factors that make us the right choice. Depending on your plans for using QuickBooks, Better Bookkeepers will train you accordingly. If your needs are fairly basic, then a quick crash course might be right for you. On the other hand, we’re also prepared to offer thorough training that will all but make you a QuickBooks expert. However you intend to use the program, we’ll make sure you’re capable of meeting your goals.

We make sure that your payroll taxes are filed with your local, state and federal agencies on time so you never have to worry about penalties or late payments. Save yourself time, money and emotional stress with Daycare AccountingPro’s payroll service. At tax time, at food program submission time, and at banking time, you NEED great records to be successful in home daycare. Home daycare record keeping is one of the most important parts of the job.

Bookkeeper’s Role in a Daycare Business

The disadvantages of bookkeeping for your childcare business are that it is tedious and requires a lot of time. It also requires a lot of human intervention to make sure that the data is complete, accurate, https://www.bookstime.com/ and up-to-date. That is why you may want to consider hiring a bookkeeping service to take care of it all for you. Better Bookkeepers is the ultimate solution to your child care business bookkeeping needs.

Record keeping software allows for multiple users at once, meaning authorized staff can access records simultaneously. It will be easier than ever to comb through enrollment, schedules, and other notes. By centralizing this information, the center can prevent things from slipping through the cracks. As a result, management will be more in-tune with the needs of both the parents and their children. Precision Reports is the credible source for gaining the market reports that will provide you with the lead your business needs.

A Healthy Future for Your “Baby“

We have identified eight benefits daycare centers should consider when thinking about making the switch to digital. Keeping track of your business’ finances is the difference between success and failure. QuickBooks offers small businesses an inexpensive bookkeeping software package. It can be used for businesses that sell many types of products, including services like daycare. QuickBooks includes a setup wizard that allows you to enter the crucial information for your daycare. It also includes tools throughout the software that allow you to make additions and changes as you record your daily financial transactions.

You should have received this information from Minute Menu or (centers) from your food program sponsor’s main office. KidKare help and support provide you with access https://www.bookstime.com/articles/daycare-accounting to free training webinars, recorded videos, and useful help articles. Record business expenses in KidKare to help you with your tax deductions each year.

Record Attendance & Meal Counts​ Training

Then establish a budget, enter beginning balances, select a fiscal year and reconcile your checkbook. Procare’s daycare bookkeeping software even allows you to make journal entries for expenses like bank fees or track credit card purchases. On average, child care centers and programs can save up to 12 hours per month in administrative time spent on billing, invoicing and payroll using Procare’s child care accounting software. That is critical time that can be spend on caring for and educating the children in your care. You’re overwhelmed — but whether it’s a home-based child care business or a daycare center, it is vital to stay on top of your finances.

We do not accept anything less from ourselves and this is what we deliver to you. If you’ve opted to integrate cloud software such as Xero or FreshBooks into your business, we can help you pick the right version of software, set it up and even train your staff to operate it. We’ll tell you if we can solve your management challenges and we’ll always be there for you with responsive support. Use these tips that will help you when asking for your paycheck in-home daycare. Whatever you do, spend some time and find something that you think will work best for you. The most recommendations I have heard personally are KidKare and Brightwheel.

Basic Bookkeeping Solutions

Get in touch with us and schedule a consultation to find out more about our bookkeeping for daycare. While QuickBooks can’t replace human bookkeeping services, it empowers you to maintain your books more accurately with less effort. When you do hire an expert, they’ll be able to review and reconcile your documentation more quickly, saving you money. Give the Better Bookkeepers a call for assistance in every step of the QuickBooks process, from deployment to long-term support. Effectively managing the cash flows is the key to the success of any business.

Our highly experienced tax advisors will ensure that you receive no surprise CRA tax bill and keep as much of your hard earned money as possible. By combining our expertise, experience, and the energy of our staff, each client receives close personal attention. We make sure that every client is served by the expertise of our whole firm. Our high standards, service and specialized staff spell the difference between our outstanding performance, and other firms.