How much time is it taking you to perform all the necessary accounting and financial functions to keep up accounts receivable? How many bills and invoices do you send each month and how hard is it to keep up with payments as they come in?
Speed up your accounts receivable and all your financial activity and reporting by automating the entire system. The EZChildtrack childcare management solution provides speed and flexibility in generating and managing invoices and payment.
Manage Billing with Childcare Software
Base your billing on attendance and enrollment. Provide easily understood statements to parents.
- Automatically generate invoices based on a predefined schedule
- Send invoices via email in a batch to parents
- Parents receive an itemized statement including all transactions for each child
Calculate fees and charges automatically and link them to the child's schedule.
- Late payment fees
- Late pickup fees
- Charges for non-sufficient funds
- Defined miscellaneous charges
- Registration fees
- Tuition charges
- Family discounts
- Bill hourly or daily
- Split fees for divorced parents
- Separate family co-payments from government agencies
You can define and submit invoices on a fixed schedule, variable schedule, ad hoc, or for a one-time charge.
Track and Process Payment
While your parent invoices are sent on a single date, the payments do not come in all at once. Keeping track of physical checks, credit card slips, and cash can create problems from lost payments to overdue accounts receivable. Bank deposit slips are easily managed.
Online payment tracking and processing streamlines accounts receivable activities. EZChildtrack childcare management provides automated accounting and billing integrated with the parent portal and the rest of the solution.
- Accept payment in any form: credit card, money order, check, e-check.
- Process payment and receive funds into your bank 24 to 48 hours more quickly than cashing a check.
- View and manage all your transactions and billing functions on one screen.
- Reduce the payment cycle and improve efficiency and accuracy by eliminating manual data entry.
- Batch your payment posting to multiple accounts.
- Print aging reports and receivables journal summaries.
- Manage billing and payment due dates by defining service periods
Accept Different Payment Methods
Allow parents to set up online payments with a credit card or bank account. Payments can be made automatically as a recurring payment which can be canceled at any time. If the parents need to update their payment method, they can do so easily through the parent portal.
- Reduce your payment cycle by making it easier for parents to pay.
- Minimize your accounts receivable and improve your cash flow.
- Reduce payment data entry and reduce errors.
Provide parents with payment status, updates, and receipts via email if desired. With a recurring automatic payment, there are no longer late fees. Tuition is paid on time every time.
Secure Billing, Processing, and Banking
EZChildtrack encrypts all online information, and payment security conforms to the payment processing industry's highest standards. Online payments are safely deposited to your bank account.
If you accept payment in person at your center, you can still take advantage of electronic checking; no need to take checks to the bank for cashing. You can reduce the threat of theft or lost checks when payment is processed immediately.
You can also track co-pays, government agency payments, and split payments within the childcare accounting system, so nothing falls through the cracks.
Refunds and Cancellations
Easily make full or partial refunds with EZChildtrack. You can also cancel an account if needed. You can reduce refunds and bookkeeping errors with the automatic prorated fee computation based on the enrollment date of the child.
You also have the ability to automatically mark an account delinquent based on a predefined threshold, by dollar amount or by the number of days overdue.
Annual Recordkeeping and Taxes
Your EZChildtrack solution makes the year-end paperwork more bearable. You can export your financial data to another system, create revenue projections for the next fiscal year, and prepare tax statements for your business and each parent account. Parents can receive their tax statement by email or through the parent portal.
- Create total revenue and income reports.
- Print a complete audit and change log.
- Print current or past statements.
- Print transaction summaries for any date range.
- Print payment reports.
Automate your billing and other financial activities to streamline invoicing, keep track of deposits and payments as well as fees and charges, and be ready for the end of the year without spending innumerable hours preparing statements or drowning in paper.
EZChildtrack streamlines your accounts receivable and helps you eliminate cash flow interruptions.