5 min read
Use Automatic Childcare Fee Payments to Increase Cash Flow
Between the day to day buzz of hands-on activities and caring for little ones, running a childcare business is no easy feat.
When it comes to your financials it pays to have a streamlined process in place in order to minimise time, effort and stress, enabling you and your staff members to spend more time focusing on the children.
Discover the benefits of automatic childcare fee payments and find out how going digital can increase your business cash flow.
Maintain a quality childcare facility with consistent income
When choosing a childcare centre, families are drawn to facilities with up-to-date resources, secured interior and exterior activity areas – and, of course, the best staff.
By automating your childcare fee payments, you are guaranteed to receive a consistent income every month. This will make it easier to allocate funding towards repairs, maintenance and updates, ensuring all aspects of your childcare facility are kept fresh, safe and secure. The better equipped your childcare facility is, the more you are likely to increase your family clientele – and in turn, increase your cash flow.
Guarantee a fast, secure and consistent method for childcare fee payments
The general rush of getting kids to and from childcare can be a daily struggle for even the most organised parents. Along the way, an assortment of goods are bound to be forgotten – shoes, hats… and every now and then, a childcare fee payment. Instead of holding up your income, why not implement the option of automating payments via direct debit?
Give your clientele the option of a secure online payment method, where they can set up their transfer on a time and day most convenient for them. That way, a ‘set and forget’ automation can take care of the rest, leaving them with a digital receipt sent immediately to their emails once payment has been received.
Reduce payment issues by implementing automated payments
Going digital with automated payments taken out at nominated time periods means one less thing for parents to add to their to-do list and one less job for you to do chasing up late payments and scheduling in time for what can be an awkward reminder to parents.
By opting for an automated payment platform like Ezidebit, payments are collected and matched to each child. This reduces the amount of potential payment issues, enabling you to cut administration costs and increase your cash flow.
Gain a stronger understanding of your income and expenditure
Running a successful childcare business requires a solid understanding of financial operations – and in order to increase cash flow, your earnings must become greater than your expenditure. By incorporating automatic childcare fee payments into your business, your digital trail will provide solid evidence of your monthly income, enabling you to more efficiently budget, cut unnecessary expenditure and in turn, increase your cash flow.
Solidify your record keeping for greater cash flow management
Using a digital payment platform enables you to keep – and easily find - records of how many payments families have made, how many outstanding payments are due and how much income you are receiving from each family. This is not only beneficial for your cash flow management, but also adds benefit to parents who may request lost receipts when it comes to tax time.
Ready to take the next step in managing your childcare facility? Contact Ezidebit today and let us set up your online payments while you continue providing the best family service.