We handle the business administration so you can focus on what matters most – better outcomes for the children in your care. No contracts, no set-up fees, no per-child charges – just one price for all the capabilities you need to run your center or school. If you’re transitioning from being an employee to someone who owns their business, it can be difficult to remember (or wrap your head around) quarterly estimated taxes. While most of us pay attention to the April 15 tax deadline, you’ll also need to be aware of additional important dates as a business owner. Separating your finances will create a clear picture of your business finances and also lessen your chances of triggering an IRS audit.

New York State’s child day care services industry was hard hit at the onset of the pandemic and heavily impacted by the restrictions put in place to stop the spread of COVID-19. In the second quarter of 2020, the private sector child care industry in NYS lost 27,100 workers, or 35%, of total employment compared to the previous year. As of the fourth quarter of 2022, employment remains at 98% of its pre-pandemic level. As a daycare provider, you know how challenging it can be to manage your finances while providing quality care to the children in your care.

d- Simplified Billing and Payment Processes

Many mothers opt to leave the workforce altogether because of child care issues, which can cost them hundreds of thousands of dollars over their careers. For many working parents with young children, choosing a child care arrangement is a difficult decision. While parents prioritize safety and quality, they must also consider cost, hours of operation, distance, and other factors, such as the need for care outside the typical 9-5 workday. Parents also disagree over how much money should be spent on child care.

New York City is also the only region in the state that has had a significant increase in the number of children under six since 2012. Linda Rost started Better Bookkeepers in 1999, and since then the team has worked for over two decades. In this time, we’ve fine-tuned bookkeeping solutions for numerous small business owners, gig economy workers, and freelancers, always maintaining a razor-sharp attention to detail. We’re proud of our professional reputation and the quality of our work.

Managing accounting for your preschool or child care center has never been easier.

FreshBooks supports every part of your business from estimates/quotes to invoices in one easy to use, complete package. If your business is growing—or you’re planning on growing in the near future—hiring an accountant now can save you a lot of stress when it comes time to manage a higher number of transactions. You can get started with a simple daycare invoice template or step it up with automated invoicing software.

It helps you understand your cash flow so your expenses don’t outweigh your income. Tracking your expenses also helps you stay within your budget and figure out where you can save money. For example, some common tax deductions your daycare daycare bookkeeping can receive are for employee wages, bank fees, advertising charges, supply charges, furniture and equipment costs, and meal expenses. In summary, bookkeeping is an indispensable component of managing a daycare business’s finances.

Daily reports

Creating invoices from scratch can be tedious, but invoicing software allows you to send invoices online, monitor payment status, send automated reminders, and much more. With the help of your accounting software and/or an accountant, you can estimate how much you owe and pay on a quarterly basis instead of as one lump some at the end of the year. Many business owners make the mistake of using their personal bank account for their business, but this can lead to confusion and costly accounting errors.