Article Link: http://exchangepress.com/article/nine-steps-to-headache-free-fee-collections/5012106/
"When I started out as a director, I was pretty lax about collecting fees. I was uncomfortable with confronting parents. As a result, we always had quite a few parents who were falling behind and inevitably many who left owing us money. Since then, we have adapted strict fee policies and enforced them consistently. Now we collect over 98% of the fees due to us."In surveying members of the Exchange Panel of 200, this was a consistent story - fee collections can cause major headaches, but these headaches can be avoided by taking the following nine steps.
STEP 1
Spell out fee policies on day one.
When enrolling a new family, explain to parents how the smooth operation of the center is dependent on all fees being paid on time. Fee payment schedules and procedures should be clearly presented verbally and then provided to parents in writing.
This discussion should cover not only when and how to pay fees but also what actions the center will take when payments are delinquent, and what steps parents can take when they know they will have difficulty paying fees in a timely manner.
To avoid future misunderstandings and to underline the importance of these policies, many centers have ...