Running a childcare business can be challenging on its own, but managing your taxes shouldn’t add unnecessary stress. This guide will walk you through the innovative features within Jackrabbit Care so that when you are ready to file, it will be a breeze!
Start Your Tax Preparation Early With Jackrabbit Care
Taxes are all about preparation. According to Taxpayer Advocate Service, an individual will spend around thirteen hours just preparing and filing on time. For small businesses, this number jumps up to a whopping eighty-two hours! The sooner you have all the necessary information, the better. With the help of a childcare management software system like Jackrabbit Care, there can be many places to start this process. Reports serve as an excellent starting point, and within the Jackrabbit Care platform, this information for facilitating tax reporting is conveniently accessible. Here are a few reports that can significantly assist you during the tax season.
Essential Reports for Tax Season
- Billing and Payments – This report contains all the information for specific billing and payments that you have received at your center throughout the year.
- Tuition by Child – A detailed breakdown of the amount of tuition and fees that are associated with each child enrolled at your facility.
- Class & Programs Billing – Gain insights into how much tuition is assigned to each program and class at your facility throughout the year.
Accessing Tax Financial Statements
One of the most common themes we hear when speaking with childcare centers is how much time a center owner, director, or administrator spends on sending tax statements to their families. Jackrabbit Care simplifies this with features designed to save time and increase accuracy:
- Direct Statement Generation and Distribution – Generate and send tax statements directly to families with just a few clicks, eliminating manual processes and saving time.
- Mobile Access for Parents: Through the Jackrabbit Care Mobile App, parents can access their tax statements anytime, providing convenience and improving the customer experience.
Managing Your Fee Categories
Jackrabbit Care’s Fee Categories feature addresses the complexities of managing your registration, enrollment, and tuition fees, whether recurring or one-time charges. This functionality allows for improved categorization, ensuring accurate tax documentation.
- Simplified Fee Management – Owners, directors, and administrators can easily navigate the registration and enrollment process, accurately assigning and tracking student and family fees.
- Detailed Reporting – Once fee categories are set, generate detailed reports that outline the amounts associated with each fee, simplifying tax reconciliation.
Jackrabbit Care is committed to making tax season manageable and less time-consuming for childcare centers. When you leverage our child care management solution, you gain access to tools that facilitate accurate reporting, simplify statement distribution, and ensure financial clarity.
Discover how Jackrabbit Care can improve your tax season, schedule a demo with one of our Care Implementation specialists to get started.
