accounting clubs
1) Sources of income
The main sources of income for the Cape Soccer Club are:
• The membership fees paid by the members. We charge R450 per annum for adults and R120 per annum for juniors.
• Joining fees. R400 joining fee for adults and a R200 joining fee for juniors.
• The tuck shop where we sell a range of refreshments.
• The Pro-Shop where we sell club jerseys, tracksuits, T-shirts and socks.
2) Expenditure
The main items of expenditure of our club are:
• Salaries and wages.
• Rental of the facilities.
• Repairs.
• Equipment
• Affiliation fees. They are paid by the club to belong to the official body of organised sport. ( Soccer Federation)
• Honorarium. An honorarium is the amount paid to the secretary or treasurer as a token of appreciation.
• Club jerseys, tracksuits, T-Shirts and socks.
• Advertising.
• Water and electricity.
3) Ledger Accounts
The ledger accounts we use in our Sports Club are:
• Membership fees. This is regarded as an income for the club.
• Entrance fees. This is recorded as an income.
• Refreshments. This is where we record all the stock purchased for resale at the tuck-shop such as water, coffee, energade etc.
• Affiliation fees. This is recorded as an expense.
• Honorarium. This is recorded as an expense.
• Accumulated Fund account. This account replaces the Capital account, as no capital is contributed.
• Income and Expenditure account. The Income and Expenditure account replaces the Profit and Loss account of a trading business. The surplus (income exceeding expenditure) or shortfall (expenses exceeding income) is transferred to the Capital Fund account.
The main sources of income for the Cape Soccer Club are:
• The membership fees paid by the members. We charge R450 per annum for adults and R120 per annum for juniors.
• Joining fees. R400 joining fee for adults and a R200 joining fee for juniors.
• The tuck shop where we sell a range of refreshments.
• The Pro-Shop where we sell club jerseys, tracksuits, T-shirts and socks.
2) Expenditure
The main items of expenditure of our club are:
• Salaries and wages.
• Rental of the facilities.
• Repairs.
• Equipment
• Affiliation fees. They are paid by the club to belong to the official body of organised sport. ( Soccer Federation)
• Honorarium. An honorarium is the amount paid to the secretary or treasurer as a token of appreciation.
• Club jerseys, tracksuits, T-Shirts and socks.
• Advertising.
• Water and electricity.
3) Ledger Accounts
The ledger accounts we use in our Sports Club are:
• Membership fees. This is regarded as an income for the club.
• Entrance fees. This is recorded as an income.
• Refreshments. This is where we record all the stock purchased for resale at the tuck-shop such as water, coffee, energade etc.
• Affiliation fees. This is recorded as an expense.
• Honorarium. This is recorded as an expense.
• Accumulated Fund account. This account replaces the Capital account, as no capital is contributed.
• Income and Expenditure account. The Income and Expenditure account replaces the Profit and Loss account of a trading business. The surplus (income exceeding expenditure) or shortfall (expenses exceeding income) is transferred to the Capital Fund account.