Tips for Getting Paid On-Time

Your day care business likely has a formal payment policy; it also likely has a few parents who are notoriously late payers. How can you turn those late payers into prompt ones? Here are a few tips to try.

·         Start by pre-screening parents using ProviderGuard reports. These reports can identify parents with good and bad        payment histories to childcare providers.

·         Add and enforce a late fee.

·         Offer a small discount for families that pay a full month's tuition in advance.

·         Remind parents a few days before payment is due that it's almost time to pay tuition.

·         Consider accepting credit cards.