Golf clubs, which are member owned, control an interesting niche from an accounting perspective. In terms of turnover, they are typically rather modest, usually with an income well south of £1m/annum and little to no annual surplus. This means spending has to be tightly controlled and monitored. This is not unusual for businesses with similar incomes. The uniqueness of member owned golf clubs is that they have hundreds of owners and have to take a far more mature, accountable approach to the management of their books.
I have extensive experience working within the golf sector in a bookkeeping role, as well as more general experience as an accountant in the wider business industry. If you would like to discuss how I can help you in a monthly bookkeeping role, please get in touch. I only consider remote work at this time.
Services on offer
I can perform an efficient month end close for your club that should allow the production of accurate management accounts well before your monthly committee meeting.
- Bank reconciliation- this is at the heart of a good month end close for a golf club. With the exception of petty cash and bar floats, all money should ultimately be coming through the club’s bank accounts so if the bank statement agrees with your accounting system, you’re not far away from a tidy set of books.
- Merchant gateway reconciliation- if you take card payments through your bar, pro shop or office then you will most likely have hundreds of credit card slips in your office. Inputting card slips into your accounting system is daily/weekly process that I can’t handle but I’m very familiar with merchant portals such as WorldPay and have a solid system to reconcile these to your accounting system.
- Posting of depreciation charges and reconciling your fixed asset register to the accounting system
- Managing accruals/prepayments
- Post deferred revenue for members who pay on an annual basis
- I have a solid understanding of the partial exemption VAT system and how it affects member owned golf clubs. Whilst you will likely have an accountant prepare your VAT return numbers, I can ensure there are no VAT mis postings, reducing the time your accountant has to spend making quarterly adjustments (and thus keeping your retainer low)
- Payroll
- Cash flow forecasting- if liquidity is a concern I can help you produce accurate monthly cash flow forecasts
- Loyalty card reconciliation- it is important that you track any variances between the balance of your member’s loyalty cards on your accounting system compared with your ClubV1/Intelligent Golf system.