small clubs accounts are not complicated so you don’t have to be an
accountant to be a treasurer. For large clubs with more complex issues
(for example by taxation and paid employees) these clubs may need to
consider using a member with some book keeping and/or accountancy
The treasurer has the following duties:
The treasurer is responsible for the safety of the money received by
the club and for obtaining maximum benefit from any deposit or
A treasurer, as custodian for the resources of the club/group, should
also budget carefully to ensure there is always sufficient cash at the
bank to cover cheques and expenses paid by bank transfer.
It is highly recommended that the club, led by the treasurer,
establish a computer-based bookkeeping process utilising appropriate
secure software and systems. Along with this, an online registration
process, including the payment of fees due should be established.
This will allow:
While the Goods and Services Tax (GST) is likely to apply to most
clubs’ operations, the treasurer should ensure they seek appropriate
advice on those areas outside the GST regulations, e.g. group
certificates, Fringe Benefits Tax, Withholding Tax and Superannuation
(these all relate to employment and may not be relevant to many clubs).
The GST is a broad-based tax of 10 percent applied to supplies of
most goods and services consumed in Australia. Sport and recreation
clubs and those in the non-profit sector, must be registered for the GST
if their annual turnover is $150,000 or more.
Even if your turnover is under $150,000, it may be of financial
benefit to your club to register and receive an Australian Business
Number (ABN), then you can claim back all the GST on purchases. There
are some supplies where the GST does not have to be included. Always
consult the Australian Tax Office (ATO) or a qualified accountant if you
are unsure of how best to deal with the GST.
Assets can be described as 'items that will be of benefit in the future'.
Some clubs will require the treasurer to retain a record of assets
and depreciation of those assets. For example, clubrooms, equipment etc.
A liability register may also be required so that the club or group knows quickly what its future commitments are.
While it may be the task of others to arrange sponsorship, some clubs
will make it the treasurer’s duty to maintain a sponsorship register
containing all relevant details of sponsorship.
This keeps the club on track regarding the sponsor’s entitlements and the club’s delivery of what has been agreed on.
For the sake of the club and its members the treasurer should make
sure that the club’s financial affairs are kept as simple as possible.
He/she should be able to:
It is highly recommended that a club establishes and maintains a
computer based financial management system. This makes things a lot easy
for the Treasurer to perform the above.
Do not submit enquiries with this form.