At the start of the year, you went to your athletic booster club office to start preparing your previous year tax documents. However, you quickly realized that the accounting information you needed was scattered across dozens of spreadsheets stored in a variety of locations.
Does this scenario sound all too familiar? If so, it’s time to ditch your spreadsheet-based accounting strategy for a more modern approach.
Dangers of Spreadsheet-Based Accounting
Before we reveal how you can get your finances in order, let’s zoom in a bit on the dangers of spreadsheet-based accounting.
The biggest issue with this approach is that it can lead to errors in your tax documents. If you fill inaccurate reports with the IRS, they’ll call foul — and may even dish out a hefty penalty in the process.
Furthermore, spreadsheet-based accounting is inefficient. Even if you manage to find the documents you need and get your tax forms filed by the set deadlines, you’re going to waste a lot of time in the process. Wouldn’t that time be better spent volunteering or planning fundraisers? Of course it would.
The good news is you can break the cycle by investing in some affordable and efficient tech.
Getting Your Financials in Order
When it comes to managing your athletic booster clubs finances using digital methods, you have two choices:
Standalone Accounting Software
If your booster club is an incorporated non-profit, your club should be using some type of accounting platform to manage its finances. The most basic approach is standalone accounting software, which is affordable and helps you consolidate all of your financial data in one place.
That said, there are two shortcomings associated with this approach. First, while your financial data will be unified, you’ll still have to track all of your booster club's other activities outside the platform. As a result, you’ll be using at least two or three different applications to manage your club. If that sounds like a lot of work, it’s because it is.
More importantly, basic accounting software is designed for a single entity. If your athletic booster club manages the finances of multiple teams and groups, things can get messy in a hurry. Fortunately, there’s a better option that was built specifically for athletic booster clubs.
The Better Option: BoosterHub Pro
BoosterHub Pro was purpose-built with athletic booster clubs in mind. It boasts a streamlined accounting system that includes various built-in checks and balances so you can accurately track your finances and stay compliant with IRS requirements.
As an added benefit, you can manage all of your other activities within the BoosterHub Pro platform. That’s right — you can communicate with parents and volunteers, create calendars, process payments, and much more. You can even create a separate database for each team or group.
When you’re ready to revamp your athletic booster club’s accounting playbook, consider supporting your efforts with an innovative app. A solution like BoosterHub Pro will turn you into your club’s accounting MVP and help you avoid being caught out of bounds come tax time.
You may also like this
No items found.
Our Club Has Been Using Charms and Has Student Accounts — Why Is This a Bad Idea?
There’s a lot to like about Charms Office Assistant. This program has been a music program stalwart and can help schools and boosters communicate with students, manage assessment data, and collect payments.
We get the appeal of using Charms to support your band’s billing activities — the system is already in place, and you can collect payments from students and parents all in one platform. However, Charms wasn’t really designed for booster clubs. It was really designed to be used by the school or music director.
Most booster clubs are non-profits. The activities and best practices are different. For instance, non-profits can not fundraise for the benefit of one person. They must fundraise for the group as a whole. Also, fees can not be mandatory in a non-profit. You can certainly say “100% participation is highly encouraged,” but you can not require anyone to pay to participate.
By replacing Charms with a purpose-built booster solution, your club can:
No items found.
Round Rock Volleyball Is Ahead of the Game by Using BoosterHub MVP
After each sports season, the coaching staff gets together to review what went well and what they can do better next year. Often, coaches will turn to league winners for inspiration. During this process, they analyze film, look at stats, and explore ways to incorporate these insights into their own coaching strategies.
Your athletic booster club can apply these same principles to get better at fundraising during the off-season. On that note, let’s turn our attention to the Round Rock Volleyball booster club and how they’re delivering for student athletes with BoosterHub.
No items found.
Is SMS a Good Way to Communicate with Donors and Booster Club Members?
Finding effective ways to communicate with donors and members is a problem as old as your school’s rivalry with the neighboring high school football team. And just like that generation-spanning rivalry, you never seem to be able to maintain the upper hand for long.
During your time as an athletic booster club member, you’ve probably tried a variety of communication techniques, from phone calls to flyers and even email. If that’s the case, you know that none of these strategies are especially effective for relaying information to your membership.
While you’ve probably considered using SMS messaging to talk to donors and booster club members, you may be hesitant to make yet another change to your communication strategy. But trust us — SMS messaging is the way to go. With the right SMS messaging tools in place, you can effortlessly share information, keep parents in the loop about upcoming events, and make 2023 your most productive fundraising year ever.