I have just started using Manager for a newly established society at my work place. Need help on the following
How do I allocate membership fees into? As we understand, membership = income for the society. Do I allocate in such that each member is a ‘customer’ ? Do I allocate into Capital Accounts?
How do i allocate cash borrowings from members? The club is new and we ‘loan’ some money from some willing members.
The club organises some courses, charitable fund raising activities and sport activities for members. we use the club as a platform to manage funds. Are there special ways to allocate these?