At Teddy Kids we work with the Balance System, a system based off the Dutch energy companies where
-Usage is tracked.
-A term payment is made.
-The final tally is added up and there is a resulting underpayment or overpayment.
We ask for an advance to be paid for the following month; for example, the February invoice should be paid on the 25th of January. Paying in advance reserves your child’s space at Teddy Kids and enables us to offer you unmatched flexibility for your child's schedule.
You will therefore receive a pro forma invoice, a “good faith estimate” of the childcare services that will be provided based on your booked contract days.
Considering that things may change, such as cancelling a day or booking an extra day, we keep track of these differences (see below).
Step A - To find the balance overview, you can head over to your child's profile page as seen in the following picture:
Step B - After which you can click on the Invoice tab to see the invoice & balance overview: This table is populated with most of the critical financial information you need to see.
1 - The amounts for Total Price, Payment and Balance indicate the totals for the pertaining year (as it stands up to today's date).
Total price: The invoices with existing invoice numbers (TKZ18-1001...etc) added up for the year.
Payment: All the payments received attributed to that year.
Balance: The difference between total price and payments received for that year.
Here we track the total amount owed for the specified month based on the reserved hours x hourly rate. This amount may change as the month progresses and locks at the end of the month.
This is the amount we estimate to be paid at the beginning of the month based off of your current contract and any changes you have made to your child's schedule in advance of that month. This amount could differ from the final invoice amount at the end of the month as:
- Extra days may be booked
- Vouchers may be applied
- Contractual changes may be applied
All the payments received and attributed to the specified month.
The open balance is the difference between Final Invoice and Payments Received.
Please note that it is not important if a particular month has an overpayment or underpayment. Please keep track of the Total Balance.
As we have different payment options available (Actual, Average, etc), the balance per month may vary.
Once the balance starts to grow past the €500 mark, action should be taken.
In the case that we owe you, please request that we transfer the difference to you or the have the same amount reduced from the next invoice's payment.
In the case that you owe Teddy Kids, please make a payment to top up the balance.