Who Needs the Tool Kit?
The Tool Kit is intended to be used as a desk top organizer and filing system to store business records for a family child care provider. Information for the provider, children, Wisconsin regulators, and the IRS are at your fingertips. Whether your record keeping system is computerized or the pen-to-paper-method, proof in the form of store receipts, bank statement, credit card statement, parent receipts, etc. must minimally be stored for three years plus the current year. Drop the receipt in the right folder and get set for tax time!
The Child Care Business Tool Kit includes information in 4 different sections:
Blue or Business Section - Includes folders for income and expense tracking. This section is based on IRS Form 1040 Schedule C. The folders are placed in alphabetical order in the Child Care Tool Kit and the line number where the expense should be recorded on the Schedule C is listed.
Green or Food Section - Includes folders required to track income and food expenses for the IRS and for participation in the Child and Adult Care Food Program including attendance, menu and meal records.
Pink or Child Section - Includes folders to store blank copies of Wisconsin child care forms and completed individual records for eight children.
Yellow or Provider Section - Includes folders to store Wisconsin required forms for the provider and facility as well as resources for the provider.
Training is available and is recommended to utilize your kit to the fullest capacity. Call Western Dairyland for training opportunities at 800-782-1880 or 715-831-1700.