Mastering Financial Management

McCormick Institute for Early Childhood

BY Annett Brown | May 6, 2024

This document may be printed, photocopied, and disseminated freely with attribution. All content is the property of the McCormick Center for Early Childhood Leadership.

Child care providers find themselves juggling numerous responsibilities that cover a wide span ranging from managing staff, to paying bills, to nurturing young minds. Amidst these demands, maintaining accurate financial records often becomes a daunting task. Child care providers, like many other business owners, generally tend to hate bookkeeping and paperwork, but it’s critically important to have it done and to have it done correctly.

Efficient financial management is one of the keys to success for early child care providers. Key business decisions start with having accurate and up-to-date financial information, which provides critical insight into your business and aids in decision-making.


More and more child care providers find themselves having to navigate accounting tasks independently, as rising costs force them to cut back on many tasks or items they could previously outsource. However, a correctly designed accounting system can aid in this transition and provide the skills necessary to confidently navigate the intricacies of financial management.


The McCormick Center’s upcoming virtual technology training, “Mastering Financial Management: QuickBooks Training for Child Care Providers,” will help child care providers overcome the fear of the financials that plague small business entrepreneurs. There is a saying, “What gets measured, gets managed,” and it is true that meticulous financial tracking can not only optimize operations but also assist with informed decision-making.

A well-structured setup in QuickBooks is crucial for effective financial management, and it can be adapted to meet the unique needs of childcare businesses. Learning to navigate QuickBooks effectively will allow you to use QuickBooks more efficiently to make critical management decisions and reduce outsourcing costs.


key elements of child care program financial management:


  • Income Transactions: Proper tracking and the categorization of income sources, such as tuition, fees, grants, food reimbursements, and extracurricular activities.
  • Expense Transactions: Efficient tracking of operational expenses, including rent, utilities, supplies, meals, reimbursements, transportation, and professional fees, as well as processing more complex transactions such as asset purchases, depreciations, bill and loan payments.
  • Banking Transactions: Accurate utilization of bank feeds to track bank and credit card transactions and monthly reconciliations to ensure accuracy between bank statements and QuickBooks records.
  • Report Creation: Generating reports essential for tax purposes, management decisions, budgeting, and forecasting.
  • Year-End Reports: Utilizing QuickBooks for year-end reporting requirements such as financial statements, child care expenses reports for families, and 1099 vendor payment reports.


“Mastering Financial Management: QuickBooks Training for Child Care Providers” will walk participants through how QuickBooks can be used for income transactions, expense transactions, banking tractions, report creations, and year-end reports. In addition, the session will explore strategies for optimizing workflows by automating recurring transactions and demonstrate how to integrate QuickBooks with other software and tools to enhance efficiency.

The May 17 session will also cover challenges encountered by QuickBooks users with insights into how to avoid common errors. Participants will be able to engage in a live Q&A session where they can ask specific questions and gain insight with fellow child care providers.


By adopting the practices outlined in the webinar, child care providers can streamline financial performance enabling them to focus their energies on nurturing the next generation.

Annette Brown is a Certified Public Accountant and the owner of ABC Accounting Services, LLC. She received her BS in Accountancy from Northern Illinois University and her CPA Certification from the University of Illinois. Annette began her accounting career in the corporate sector and has over 25 years of accounting experience. She started ABC Accounting Services to empower small business entrepreneurs to thrive in their businesses.

Paula Jorde Bloom Scholarship Recipient Monique Watts-Dennis Reflects on her Leadership Connections 2026 Experience

By Monique Watts-Dennis • June 10, 2026
Attending the McCormick Institute for Early Childhood's Leadership Connections conference as a recipient of the Paula Jorde Bloom Scholarship was both an honor and a transformative experience. I am incredibly grateful for the opportunity to participate in a conference that brought together passionate leaders from across the field of early childhood education, all dedicated to making a difference in the lives of children, families, and educators. Throughout the conference, I gained valuable insights from inspiring presenters and informative sessions that challenged me to reflect on my own leadership journey. The experience encouraged me to think beyond my daily responsibilities and consider how I can continue to grow as a leader while making a meaningful impact within my program, my community, and the early childhood profession as a whole. One moment, in particular, changed my outlook entirely. During the Leadership Colloquium, I had the opportunity to listen to Dr. Teri Talan share her professional journey from the beginning of her career to where she is today. She shared a story about Paula Jorde Bloom , the founder of the McCormick Institute, asking her where she saw herself in the future. Teri responded that she saw herself working alongside Paula. Paula’s response was something along the lines of, “I have funding for one year, but after that, you’ll need to find grants to support your position.” That story resonated deeply with me. It was a reminder that opportunities often begin with a vision, but they grow through determination, persistence, and a willingness to advocate for what you believe is needed. That evening, I returned to my hotel room feeling inspired and energized; maybe a little too inspired. I immediately sent my Executive Director a proposal for a Family Support Specialist position and shared why I believe this role would benefit our center, our families, and our children along with why I should lead the creation of this role within our center. In that moment, I realized that leadership is not just about having ideas, it’s about taking action. Teri’s story and McCormick Institute Executive Director Dr. Lisa Downey’s words on prioritizing the needs of your child care center encouraged me to stop waiting for the “right time” and instead advocate for the changes I believe can make a meaningful difference. While the sessions provided valuable knowledge and inspiration, some of the most meaningful learning happened outside the conference rooms. Conversations during lunch, networking opportunities, and informal discussions with fellow providers and leaders about the knowledge we gained within sessions allowed me to hear different perspectives, share experiences, celebrate successes, and learn from the challenges others have faced, many are the same I am facing now. These connections reminded me that leadership is not something we do alone. The relationships formed throughout the conference created a sense of community and support that I carry with me. This experience also strengthened my confidence that I am exactly where I am meant to be. Supporting children, families, and educators has always been a passion of mine, but this conference helped me recognize the deeper purpose behind that work. It reminded me that every relationship built, every family supported, and every child encouraged has the potential to create lasting positive change. The work we do in early childhood education is foundational, and I am proud to be part of a profession that helps children thrive during some of the most important years of their lives. The knowledge, conversations, and relationships gained through Leadership Connections have reinforced my commitment to helping children thrive and empowering families to succeed. I have been inspired by the dedication, resilience, and passion of fellow leaders and encouraged to continue growing both personally and professionally so that I can better serve those who depend on me. I leave this experience feeling energized, motivated, and grateful. More importantly, I leave with a renewed sense of purpose and a deeper understanding of my role as a leader in early childhood education. The lessons learned, relationships formed, and inspiration gained through this experience will continue to influence my work and leadership for years to come. As I end, I reflect on this year's conference theme, "ONWARD," I am reminded that growth is not a destination but a journey. To me, ONWARD represents resilience, purpose, and the commitment to keep moving forward even when challenges arise. This experience has provided me with new tools, fresh perspectives, meaningful connections, and renewed confidence in my work. For that, I am deeply thankful to the McCormick Institute and honored to have been selected as a Paula Jorde Bloom Scholarship recipient. ONWARD! Learn more about the annual Leadership Connections national conference. The Paula Jorde Bloom Scholarship Fund supports emerging and aspiring early childhood leaders who are dedicated to providing the highest quality care and education for children and families. Scholarship recipients receive complimentary full-conference registration to Leadership Connections, meals provided to conference registrants, and up to three nights lodging at the conference hotel.
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