Managing the financial aspects of a booster club can be time-consuming, tedious, and open to mistakes. Many booster clubs still follow old-school accounting methods, including collecting cash payments and performing regular deposits. If you identify with these approaches, it may be time to consider moving to a cashless operation. Consider these benefits of booster club accounting software:
Ability to Track Revenues and Expenses
If your booster club adopts an accounting software specifically dedicated to booster clubs, you will be able to easily track revenues, expenses, and donations. Since the pandemic, most school districts have gone cashless for ticket sales. A dedicated software program can allow you to easily accept credit card and debit card payments. This reduces the chance of lost earnings due to theft or misplaced funds. It also helps you ensure accurate accounting for the booster club’s tax return.
Reduce the Time Spent by Your Treasurer
The treasurer of a booster club often spends significant amounts of time reconciling revenues, expenses, and donations. There is a lot of reliance on them to ensure that the books of the booster club are kept accurately and in accordance with nonprofit accounting principles. Treasurers with full-time jobs may be unable to spend as much time as they would like running the finances of the booster club. In addition, there is usually regular turnover as children and teenagers change their interests or graduate.
Having software in place that accurately monitors the organization’s finances can eliminate the stress of making sure monies are accounted for properly.
Reduce the Risks for Fraud and Theft
With the right tools in place, you can enjoy security features designed to reduce the risk of fraud and theft. By setting up permissions for authorized users, you can control access. And with powerful encryption tools, you can securely manage funds.
Easily Set Up Donations in an Online Store
Utilizing a dedicated booster club software program can allow you to easily set up an online store just for donations. Rather than accepting cash or check donations, your booster club can allow contributors to donate online through a secure platform. This can reduce the risk of lost donations and allow you to easily trace the donor’s identity.
