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    a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter al
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    Annually a report must be presented to the members on the clubs money affairs and financial position. The form of the report presented will depend on the size of the club and the volume of its activities. In the case of a club with a few members, and of which all transactions are for cash, a statement of receipts and payments will be sufficient, but in the case of a big club an income and expenditure statement and also a balance sheet are desirable. The size of the club and the volume of its transactions will also determine whether a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter all
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    will depend on the size of the club and the volume of its activities. In the case of a club with a few members, and of which all transactions are for cash, a statement of receipts and payments will be sufficient, but in the case of a big club an income and expenditure statement and also a balance sheet are desirable. The size of the club and the volume of its transactions will also determine whether a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter al
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    actions are for cash, a statement of receipts and payments will be sufficient, but in the case of a big club an income and expenditure statement and also a balance sheet are desirable. The size of the club and the volume of its transactions will also determine whether a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter al
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    statement and also a balance sheet are desirable. The size of the club and the volume of its transactions will also determine whether a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter al
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    a complete set of books must be kept or not. In the case of a small club with cash transactions only it will be sufficient to enter all transactions in an analysis cash book or in separate cash receipts and cash payments journal and then prepare a statement of receipts and payments from it. In a larger club complete ledger accounts will be opened from the nature of the transactions, a cash receipts Journal, a Cash Payments Journal and a General Journal will normally be used. It is essential that a complete list of members will be kept on which will be recorded that membership fees are paid.

    Accounting Procedures

    The accounting procedures to be followed:

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