Booster Club Accounting Best Practices

A thriving booster club relies on effective fundraising. Furthermore, your club must use the correct tools to manage your booster club accounting and finances to have a strong backbone and a long future. Booster club accounting software allows you to tap into a wealth of resources that will help your booster club grow, prosper, and thrive. Here’s what you need to know about the best practices for booster club accounting!

Keep Everything Updated

One of the biggest benefits of using booster club accounting software over traditional methods is the ability to stay updated on everything. To stay on top of your numbers, make sure that all of your activities, such as fundraisers and outstanding payments, have been tallied and deposited. Booster club accounting software also makes it easy to keep all of your club’s daily expenses up to date. The amount of money or resources on hand should always be documented in case thorough evaluations are ever needed.

Designate a Treasurer

There should be someone in charge of finances and bookkeeping in every booster club. Creating a treasurer role for your booster group is a wonderful idea to keep your funds under control. A booster club treasurer is in charge of the club's funds and all other financial matters. This could entail putting together the club's yearly budget and providing budgets and fundraising goals for special events and campaigns. By establishing a treasurer role, your club can ensure that it has a competent, reliable person dedicated to effectively managing its money.

Managing Expenses

Managing expenses is a common task you'll encounter as a booster club leader. Your club will experience a range of expenses as part of its day-to-day operations. In addition to your treasurer, other club members should have access to your accounting software. Having more than one person review your booster club’s finances creates a system of checks and balances. This will help ensure your club’s financial future is in good hands.