Pre-payment

[SageMother]

Most daycare centers require a deposit, but do any of you allow parents to prepay for more than a couple of months of care?

Often, seasonal workers need to pay for almost a year in advance. How do you handle that?

[Laughingmouse]

I know of only 2 people who allow this type of pre-payment. The problem with it is that the money should probably be stashed in some sort of escrow fund to prevent the provider using it for other purposes.

Refunding any unused portion of the fees might be a problem for some people, and the paperwork, meaning the accounting, might be a bit tricky, so most folks just avoid opening that can of worms!