Contract Cycles versus Billing Formulas

Billing is based on either Contract Cycles or Billing Formulas which are assigned to the Billing Box of each child. Some businesses use both Cycles and Formulas while others use just one. It depends on the way your center charges for its services. Custom Billing Formulas may also be created for a fee.

Contract Billing Cycles

Contract Cycles, also known as Billing Cycles, are used if you charge a flat fee, regardless of the number of hours a child actually attends. The most common cycles are Weekly and Monthly. Billing cycles are typically used to charge in advance (pre-bill); for example, if families are charged at the beginning of the week for the full week. See: Set Up Billing Cycles

Billing Formulas

Billing Formulas require the Attendance Tracker module and are appropriate when charges vary based on the number of hours a child actually attends or is scheduled to attend. Typically these include rates like Hourly, Half/Full Day, Overtime, Extra Days, Extra Hours, Late Pick Up, etc. Billing Formulas may be used to charge either in advance (pre-bill) or arrears (post-bill). Some centers may do both, for example pre-bill for a child’s scheduled hours then post-bill for overtime. Standard Billing Formulas are included with the program. See: Set Up Billing Formulas

Custom Billing Formulas

Depending on the complexity of your billing, our Technical Support staff may be able to assist you with making minor modifications to our Standard Billing Formulas at no charge. Billing Formulas that are specially created for your situation are available for a fee. There is often a turn around time of 4-6 weeks for custom designed formulas. Contact Technical Support for details.