In this article, I want to deep dive into billing — one of the most challenging areas to manage at a childcare center and how Illumine abstracts the problem and solves it in an intuitive way. With our system, staff and administrators no longer have to stress about generating the invoices manually or collecting and recording payments.
What do the School, Staff and Admins get?
- Time and energy back in your day, with less ink and paperwork.
- No more stressing during billing cycles, and less bookkeeping.
- You don’t have to do the math — let Illumine do it for you.
- Keep your parents happy by letting them pay online via Bank NEFT or Credit Card (and even set up autopay).
Benefits of using a Childcare Billing Software
Childcare is a lucrative industry today. As per a report, 8.74 million children got registered in daycare centers in 2018 and now it has increased to more numbers. This surge has led to the need for an online billing system and childcare billing software.
By utilizing productive childcare billing software, one can undoubtedly get over the strenuous task of planning and preparing bills, sending solicitations, and following up with late bills and additional fees. So let us look at a portion of the benefits of integrating childcare billing software in the billing system for preschool & daycares.
- Transparency: With childcare billing software, you can easily check financial records, maintain data, and get instant solutions to any problem. Transparency helps at the time of the audit of accounts.
- Remote access: Access it anytime and everywhere with your mobile. You can check information, maintain records, and track bills with the daycare billing app.
Build a good client relationship: Building a long-lasting relationship with clients decides the future of the childcare business. With childcare billing software, one can send bills, invoices, notifications, and payment reminders to foster a good relationship.
To get these above benefits, we first needed to understand a childcare centre’s minimum requirements and how it feels to run your childcare centre without online billing.
Minimum needs for Childcare in Online Billing
First, we need to understand what an average childcare needs. Our team at Illumine has spent significant time and effort in determining what billing system would be best suited for education centers.
After spending months talking to customers from small (10) to large centers (~100) and going through the most commonly used software applications that are out in the market, we found out that either the software was too complex to use or it was not at all serving the purpose quickly.
Billing comprises of three major components: Invoicing, Payments & Refunds.
A childcare center needs a billing platform which:
- allows easy calculation of attendance-based or fixed charges,
- provides the option to generate recurring invoices for weekly/bi-weekly/monthly cycles,
- handles various charges being run by the centres and effectively translate them to separate invoice items,
- provides a highly secure way of recording online payments by bank transfer, debit and credit cards
- allows for easy processing of refunds or management of credits,
- generates monthly statements and reports to track all payments and transactions.
- These are the very basic requirements of a billing system for a childcare centre.
How do childcare centres process invoices without online billing?
To understand this, we need to analyze some of the billing requirements of a childcare center and how they are addressed in the absence of an online billing platform.
Let us consider a real case of a childcare center that offers different types of enrollment programs. Invoices can vary from monthly, weekly, biweekly, daily or hourly based on the attendance and time spent by the student. Also, some of the students can be enrolled in more than one program. The invoice for each student has to be generated carefully by observing the program the student is enrolled in and how many hours/days/weeks the student attends.
Doing this exercise manually takes an enormous amount of time and is excessively tedious for the staff doing it for each child. And then this process has to be repeated every month or week. Finally, these invoices need to be given to the parent. They can either be handed over to the parent directly or mailed to their address.
Once the invoice is generated, the parent is required to make the payment.Without an online billing platform, this is another problematic task for the parents to go through every month or every week. They need to physically come to the center to pay via check, cash or point of sale. In the world of mobile banking, millennial parents hate it.
When a parent needs to be refunded, the childcare center has to either hand over a check or return the funds in cash. Then they must generate a manual receipt, with a copy for the parent as well. If not done correctly, refunds can lead to many confusions and accounts data discrepancy. As you can see there is tons of manual paper work and time spent on billing. Shouldn’t staff be spending on quality time with children instead? Absolutely yes, and it’s our mission to help.
But what makes Illumine stand out from other software in the market? Here is the sneak peek of some prime features of daycare billing software:
- Integration & reporting – Illumine helps you to sync all your accounts in one software. You can check any transaction anytime and report any errors swiftly.
- Highly secured – This daycare billing software has service-oriented architecture through APIs. With the help of Illumine, you can generate zillions of bills without any glitch and ensure a safe and secure gateway for payments.
- Reliable refund facility – You can make a refund in just one click, and parents can get notified once the payment gets approved. The adjusted balance gets reflected on the daycare billing app.
We are excited and proud of building a comprehensive billing system for the childcare market. We @Myillumine keep our goals very high and there’s lot more we want to continue doing and serving our customers, completely automating and removing complexities with beautiful design, engineering and product. We are excited about what’s coming
- Schools being able to run your entire billing on mobile
- Providing forecasts to understand your receivables
- And, providing more capabilities to plans and payments options.
Book a demo https://illumine.app