Childcare vouchers can typically be used to pay for childcare services from registered and approved providers, including nurseries, childminders, after-school clubs, and holiday camps.
There are limits to the amount you can receive in childcare vouchers each year, which can vary depending on government regulations and your employer’s policy. The vouchers usually have an expiry date, so you need to use them within a specified period.
Reconciling Childcare Vouchers
Childcare Vouchers are available by default as a Payment Type (under Setup). On check-out parents can select to pay by Childcare Vouchers, all they need to provide is a reference and provider details, once this is done, they can complete their booking.
The amount of the booking appears as a debit on their account. Their name and outstanding amount will appear on the admin dashboard and the Outstanding Payments report where reminders can be sent automatically. Although the parent owes money tracking is made simple by Childcare online Booking (CoB) software.
When a payment is made to you into your bank account the amount will need to be reconciled on to CoB. This is a very simple procedure, which is carried out from the Bookings >> Add Payment screen. The Parent search field is an intelligent filter which will find the parent once the first three characters are entered making quick and simple to select the right parent.
Tax Free Childcare (TFC)
Tax Free Childcare works in a similar way to Childcare Vouchers in that they need to be reconciled using Bookings >> Add Payment. However, TFC is not a Payment Type and needs to be enabled on an individual parent level.
When a Tax Free Childcare is paid to you it will have the reference number of the child rather than the surname. To help with this you can add the child’s reference on to the child account. This reference is then searchable in the parent field when you come to reconcile the payment using Bookings >> Add Payment.
Registers >> Children, edit parent accounts.
The Bookings >> Add Payment Screen