Club finances should be managed and administered by the Club Treasurer. It is important to ensure that income exceeds or at least matches expenditure and that adequate records are kept.
The first step for the Treasurer is to set up a bank account in the club name. Any cheques or withdrawals should require a minimum of two signatures from committee members.
The Treasurer needs to keep account of all club expenditure, as well as income. To help the Treasurer keep up-to-date records, the club should use a weekly account sheet. All teams could also have an account sheet, which they should give to the treasurer on a weekly basis.
At the end of the season, it is good practice for the club accounts to be independently reviewed and audited by a suitably qualified person and copies of audited accounts circulated to club members.
If you require any help with your club accounts then please get in touch.