Allison holds a Master of Accountancy (MAcc) degree and has experience in auditing, taxation, governmental accounting, and research administration. She also teaches money management and personal finance courses.
To ensure that your daycare center is operating in the optimal financial state, it's a good idea to find accounting software specific to daycare centers. These products simplify the day to day processing of revenue and expense transactions, such as billing, tuition, payment processing and reporting.
Notable Software Options
Prior to selecting the appropriate accounting software for your facility, it is important to decide what your budget for software is and what features you desire.
Here are some software options that receive accolades from reviewers:
For Simplified Accounting Functions: Procare Family Accounting
Procare Family Accounting offers accounts receivable and billing solutions for daycare facilities. It contains a variety of modules that simplify accounting functions, including:
Family Accounting module from Procare Software
Attendance Tracker accounts for instances where fees must be applied for overtime or late pickup. It also handles hourly billing where applicable.
Agency Accounting correctly applies fees and corresponding payments to accounts that have multiple sources as a result of separated parents and agency contributions.
Family Data centralizes all account activity, such as fee assessments, discounts and payments for a particular family.
Tuition Express enables you to incorporate electronic payment collection and processing into your business model.
Customers were very pleased with the software as it really simplified accounting functions and helped them save a generous sum of money by slashing unnecessary costs identified in management reports. Reviewers from My Daycare Software noted the benefit of having endless accounting capabilities, making this software the most desirable choice.
For Online Accessibility: EZ Care Online
EZ Care Online offers billing and accounts receivable functions through its online program, which can be accessed from any location with a computer and Internet connection. It also interfaces with QuickBooks. This software drastically reduces the period of time expended on payment remittance and billing functions by:
The online accessibility feature is a major benefit to consumers since all data is continuously backed up and is not at risk of being lost in the event of a computer or server crash. Several users also mentioned in testimonials that the software was extremely user-friendly and the front page painted an accurate picture of the facility's current financial position.
Reviewers from My Daycare Software also noted that the program was simple to use and entering data was seamless. In addition, technical support representatives provided exceptional service when problems arose.
For Myriad Features: Childcare Sage
The accounting component of Childcare Sage is all inclusive and adopts a payer approach, making it easier to access account data. This is a beneficial feature for daycare centers that enroll students subsidized by various sources, such as stage agencies and a number of family members.
Accounting modules include:
Accounts Receivable income monitor
Accounts Payable expense monitor
Billing capabilities with email notifications
Payroll
Tuition Direct that automates bill pay
Although this software is more expensive than many other offerings on the market, reviewers from Professional ChildCare Management Software noted that it is definitely worth considering the wide range of all-inclusive features, which will give you the "best bang for your buck."
For Excellent Customer Service: Childcare Manager
Childcare Manager offers an Accounting Center as the hub for financial management and financial report creation. In the module, users can select from a variety of everyday accounting tasks, such as bill payment and bank statement reconciliations.
QuickBooks can also interface with the software.
Current customers recommend this produced based on the exceptional level of customer service and streamlining of processes, especially for those who are unorganized.
Which Daycare Accounting Software Is Right for You?
Once you have considered all your options and narrowed down the list to a few finalists, reconsider the needs of your organization. If the program has features and capabilities you will not use, avoid spending the extra funds and select the software that is most affordable, yet provides all the features you want.
