Having a mission and philosophy statement is an essential part of any business; it sets the foundation for how you want to operate and why. Having a written statement can help in centering your business and effectively communicating with families. Use this Town Square-created resource to guide you in developing a mission and philosophy statement.
Town Square had the pleasure of sitting down with Jill Russell, family child care provider and owner of Rusell Family Childcare, to discuss the importance of policies and how they protect her business and families in her care. Listen below
An essential factor of operating a business out of your home is the time-space percentage helping determine the business portion of expenses used for business and personal purposes. The time/space percentage is calculated annually by taking the total number of hours you care for children in your home, the total number of hours you spend on business-related activities when children are not present, and the total number of square feet used for your business. This time tracker sheet will help you track your hours, ensuring that all your time (both with and without children) is included in the time-space calculation.
To use this time tracker, simply print out a copy for each month. Every day write down when the first child arrives when the last child leaves, calculating the time when children are present. Then write down the amount of time you worked on the business when children were not present. We have left some of the columns empty for you to add your own tasks/activities; remember, they must be activities for the business and inside your home. After adding the hours for each day, you will get a final number at the end of the month.
El monitoreo de los gastos e ingresos es vital para cualquier empresa, especialmente para las pequeñas compañías.
El monitoreo de los ingresos requiere el registro de los pagos por niño/familia, ya que ayuda a asegurar que usted está recibiendo fondos, y tiene el beneficio adicional de ser un registro de cada pago. Una adecuada contabilidad le ayuda a usted y tambien a las familias a completar su W-10 y sus impuestos. Heather Mallett es una proveedora de cuidado de niños en Vincennes, Indiana. Ella es la Directora y Propietaria de Happy Hearts Daycare and Preschool LLC, como tal, Heather comparte este formulario de Registro Individual de Pagos Anuales para monitorear los pagos y registrar los totales para las familias. Hace unos años, Heather encontró este recurso a través de una colega directora general de una guardería con sede en otro estado y lo ha utilizado desde entonces.
Para utilizar el formulario
- Prepare uno para cada niño/familia al principio del año
- Ponga el formulario en la documentación del niño.
- Anota el pago cada viernes, o cuando sea necesario.
- Anote el total al final del mes.
- Por último, sume el total anual y añada su número de identificación fiscal.
- Haz una copia para compartirla con las familias y guarda el original para tus archivos.
Heather también incluye una nota en la que se indica si las familias desean otra copia, que costará 2 dólares.
Este recurso creado por Town Square explora cómo calcular su porcentaje de tiempo y espacio. Saber este porcentaje puede ayudar a reducir sus impuestos al determinar qué cantidad de sus gastos compartidos (de la casa) puede ser reclamada como exenciones de negocios.
Tracking both spending and income is vital for any enterprise, especially for small businesses.
Tracking income requires logging payments per child/family as it helps ensure you are receiving funds, and has the added benefit of being a record of each payment. Accurate bookkeeping helps both you as well as the families complete their W-10 and taxes. Heather Mallett is a family childcare professional in Vincennes, Indiana. She is the Director and Owner of Happy Hearts Daycare and Preschool LLC, as such, Heather shares this Individual Annual Payment Record form to track payments and record totals for families. A few years ago, Heather came across this resource from a fellow childcare CEO based in another state and has used it ever since.
To use the form:
- Create one for each child/family at the start of the year
- Add the sheet to the child’s folder
- Enter in the payment every Friday, or whenever payment is due
- At the end of the month, tally the total
- At the end of the year, add the annual total and add your EIN
- Make a copy to share with families, and keep the original for your records
Heather also includes a note stating, if families request a second copy, it will cost $2.
This Town Square created resources explores how to calculate your time and space percentage. Knowing this percentage can help reduce your taxes by determining how much of your shared (household) expenses can be claimed as business exemptions.
As the Child Care Stabilization grants start opening up and distribute funds to providers. It is essential to understand how the fund can be utilized. The federal guidance gives broad categories for allowed expense, including
- Personnel costs
- Rent, utilities, facilities, maintenance, and insurance
- Personal protective equipment, cleaning, and other health and safety practices
- Equipment and supplies
- Goods and services
- Mental health services
Remember, this is a grant, not a loan; you do not need to repay it. Understanding ways to use the funds and “pay yourself” will allow you to use the grant for a retirement plan, an emergency fund, additional staff, increase wages, insurance and so much more.
To learn more on how to Pay Yourself, please read Tom Copelands Article.
Clearly defining your policies and following through on them is helpful for families, for you as a professional, and to maintain the standards needed for licensing and high-quality care.
This Town Square resource was created with the help of family child care professionals who shared what they thought was necessary to include in a contract.
Whether you are just starting your program or a veteran, this resource can help you review and think more about your contract!
Sharing ideas on how to use social media – specifically Facebook groups to communicate with families