Announcement

Collapse
No announcement yet.

Receipt for Each Payment?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Receipt for Each Payment?

    I have never given a receipt simply because it’s the same amount each week and I give everyone their amounts at the end of the year for taxes. Does anyone givea receipt after each payment? I just think this is kind of tedious

  • #2
    I used to give receipt after each payment but then I switched to only cash and the original deposit. I have a receipt book from the dollar store that I use for the original deposit and then after that I use a website called wave and send a electronic receipt.

    I'll also use the receipt book for when I sell a vehicle or a large item that is prepaid for.
    284878

    Comment


    • #3
      I gave a receipt after each payment. Especially since I always had at least one parent that paid cash.

      Comment


      • #4
        I do not give receipts for each payment. I can email an itemized statement at any point in just a couple minutes if needed. I also give out a yearly W-10 with the total amount paid for the year and an itemized statement of account on January 2nd when they come back from break.

        My clients pay through online invoicing so also have access to every payment anytime they need it. If they pay in cash, I simply mark the unpaid invoice as paid in cash and the program automatically updates all tax forms. Easy/Peasy.
        Last edited by Cat Herder; 2 weeks ago.

        Comment


        • #5
          I give a receipt each payment!

          Comment


          • #6
            Originally posted by Momboss View Post
            I have never given a receipt simply because it’s the same amount each week and I give everyone their amounts at the end of the year for taxes. Does anyone givea receipt after each payment? I just think this is kind of tedious
            I give a receipt every week even though it's the same amount, but that's it, they are responsible to add them up at the end of the year

            Comment


            • #7
              If asked, I will give a parent a receipt but most of my parents pay by check so their cancelled check acts as their receipt. I also give them a yearly total at the end of the year to use when they're doing their taxes so most don't feel they need a weekly receipt. I bought a receipt book at Walmart, though, for the one or two parents who have asked.

              Comment


              • #8
                I give receipts for every payment method but I switched to Sproutary for invoicing so I’ll likely stop giving them out next year.

                Comment


                • #9
                  Originally posted by e.j. View Post
                  If asked, I will give a parent a receipt but most of my parents pay by check so their cancelled check acts as their receipt. I also give them a yearly total at the end of the year to use when they're doing their taxes so most don't feel they need a weekly receipt. I bought a receipt book at Walmart, though, for the one or two parents who have asked.
                  My receipt copy is my proof of payment. I'm thinking... what if a parent writes a check to you, but never actually gives it to you and claim they have?

                  Comment


                  • e.j.
                    e.j. commented
                    Editing a comment
                    The parent really can't do that and get away with it. When a check is processed, there's info that gets printed by the bank on the back of the check. If a parent claimed to have paid me with a check and I had no record of it, I'd ask them to get copy of the front and back of the check from their bank. They wouldn't be able to provide a check that had that information on it if they had just written one out in my name but never gave it to me. I also keep records of payments I receive that includes whether it's cash or check and if it's a check, I record check #, date, amount of the check, dates covered and whether it's from someone else's account other than the parent - like a grandparent.

                  • Gemma
                    Gemma commented
                    Editing a comment
                    I forgot about that!
                    My bank doesn't return checks since going digital, any dispute would be super lengthy and additional processing Fees would apply so I rather stick with giving a weekly receipt, not only as instant proof of payment, but also to not having to give anything at the end of the year

                  • e.j.
                    e.j. commented
                    Editing a comment
                    Not to belabor the point but I want to clarify ….since it would be the parent claiming they paid and I keep records of each check they give me, they would be the ones who would pay any bank fee involved to attempt to prove they paid. If they were trying to scam me by writing a check in my name but not actually giving it to me, they would know they didn't actually pay. Hopefully, they wouldn't be dumb enough to actually go to the bank to request a copy of a cancelled check they KNOW was never processed - kwim? Since I would know they never paid (and my parents pay up front), I wouldn't care how long it took for them to figure out that their scam didn't work. I'd probably ask them to leave anyway just for trying something like that.

                    Also, giving them something at the end of the year isn't a big deal for me since I've recorded all of the check amounts. It's just a matter of adding the weekly amounts up and writing the yearly total on a form I created for that purpose. I take two copies. The parents sign one for me to keep and they take one home for tax time.

                    Everyone does it differently, though, so whatever works for you is great. :-)

                • #10
                  I have a few parents who tell me they need a monthly receipt with our EIN to submit for their employer’s childcare FSA reimbursement program. I saw the enrollment papers for one of them, and hers does say that this kind of receipt (not cancelled checks) is necessary. The parents pay me directly then submit the receipt for reimbursement.

                  Comment


                  • e.j.
                    e.j. commented
                    Editing a comment
                    This is why I got my receipt book. I've had only a couple of parents ask for receipts but this is exactly why they needed them. Their cancelled check wasn't acceptable to the FSA program.

                • #11
                  Only if it's cash.
                  Cash: I will count in front of the client and either write in a receipt book or I have texted a "record of receipt" as well.

                  Comment


                  • Gemma
                    Gemma commented
                    Editing a comment
                    I only take cash

                • #12
                  I give a receipt for every payment. It helps me keep track for my own records too.

                  Comment

                  Working...
                  X