Being a daycare provider is a lot of work. Not only do you have to care for the children, but you also have to ensure the daycare center is clean and safe and handle the business side of things like billing and payments. It can be a lot to keep track of, but it’s crucial to stay on top of things—especially regarding payments. Late payment is one of the biggest problems faced by daycare providers. Parents are often busy and forgetful, and sometimes they simply can’t afford to pay on time. Whatever the reason, late payments can put a real strain on your business. Therefore, a late payment notice is so important.
What is a Late Payment Notice?
Late payment notices are simply a document you send to parents when they haven’t paid their bill on time. This notice should state the amount owed, the date that payment is due, and any late fees that may be incurred. You should be clear and concise in your language so there is no confusion about what is expected.
Why You Should Have One
There are a few reasons why having a late payment notice is so important. First, it sets clear expectations for parents about when their bill is due and what will happen if they don’t pay on time. This can help prevent some late payments from happening in the first place. Second, it provides you with a formal way to follow up with parents who do forget to pay on time. And finally, it allows you to charge late fees if necessary—which can help offset some of the costs associated with late payments.
Example of a Late Payment Notice
We are writing to inform you that your account for daycare services has not been paid in full. Please remit the payment of $X as soon as possible to avoid any interruption of service.
Example of a Payment Notice with Late Fees
We are writing to inform you that your account for daycare services has not been paid in full. Please remit the payment of $X as soon as possible, along with a late payment fee of $Y. If payment is not received within 7 days, service will be interrupted.
Late payments for daycare can put a strain on providers. Issuing a daycare late payment notices is one way to help ensure that all parents know you are serious about being paid on time. And, hopefully, will make timely payments. So if you don’t already have a late payment notice for parents, now is the time to put one in place!