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Accounts Receivable Management
October 21, 2019
The beauty of empowering others is that your own power is not diminished in the process.
-Barbara Coloroso

“Collecting payments from parents is vital to maintaining the financial health of an education business and in effectively managing cash resources,” writes Kathy Ligon in the book, Art of Leadership: Managing Money in Early Childhood Organizations. “Careful considerations in creating healthy policies is critical when developing the business initially, and most important in the daily management of practices and processes that minimize collection issues…

Schools that require bank draft for payments love the ease and reliability of this option. It has been our experience that direct withdrawal (sometimes called ACH) is most successfully implemented when a center opens because parents are often reluctant to change to this option later. The center simply pulls payments from the family’s checking account…and only has to follow up on accounts that did not have sufficient funds for payment. [Schools that have been in operation a while] might try to slowly migrate check-writing customers to the ACH method and emphasize that parents will not have to manually write so many checks.”

The Art of Leadership
Managing Money
in Early Childhood Organizations

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Administrators of early childhood programs must be as effective at managing financial matters as they are at caring for young children and their families. Managing Money in Early Childhood Organizations provides you with practical advice from top experts on every aspect of money management, including budgeting, fundraising, financial reporting, cash flow analysis, audits, salary schedules, fee policies, collection techniques, and more.

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Offer valid through November 21, 2019 at 11:59 pm Pacific Time.
May not be combined with any other offer.


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