Are you ready to accept deposits from families to hold spots for children in your fall programs?
It’s easy to do in Procare using the built-in Deposit/Deposit Refund tool—which lets you set the money aside until the time comes to apply it towards tuition. That way it doesn’t count as revenue until you actually provide the services in the future.
When a family is ready to pay their deposit, just use the description “Deposit Tuition: Fall” to record the charge on the Ledger Card.
When you do so, the Deposit button (bottom of screen) shows the amount they have on deposit.
The amount they prepaid remains as a deposit on their account until the point when you’re ready to apply it towards tuition. That usually happens when you run Automated Billing for the first week or month of your fall program, which gives the family a balance due.
At that point, you just credit back the amount they originally paid, using the description “Deposit Refund: Fall”. You can do so using the Quick Ledger Posting feature if you’re posting deposit refunds to many families, one right after another.
Once you’ve credited the deposit back to the family, their balance due is decreased by the amount they previously paid.
And, the Deposit button goes back to zero, meaning they no longer have a deposit on their account.
For more details see the article/video: Deposit on Account.