Income and Expenditure Account Format

Blank format

Begin with the three-line heading (club name, account name, 'for the year ended 31 December 20XX'). List income first in the outer RM column, then deduct total expenditure (individual items in the inner RM column with the total carried to the outer column) to arrive at the surplus or deficit.

Parts of the format

Three-line heading

First line the club name, second the account name, third 'for the year ended' because it covers a period, not a single date.

Income section

Records all revenue for the current year such as adjusted membership fees, interest and activity profits, totalled in the outer column.

Expenditure section

Records adjusted revenue expenses only; capital spending such as the purchase of assets is not included here.

Two RM columns

The inner column is for individual items and the outer column for subtotals and the final figure, keeping the totalling tidy.

Non-cash items

Depreciation and bad debts are entered as expenditure even without a cash flow, following the accrual basis.

Surplus or deficit

The final balance is a surplus if income exceeds expenditure, or a deficit if the reverse; do not use the terms profit or loss.

Filled example

Kelab Sukan Sinar Harmoni received membership fees of RM8,400, canteen sales profit of RM2,600 and bank interest of RM500 for the year ended 31 December 2024. Its expenses were hall rental RM3,600, supervisor's salary RM4,200, general expenses RM1,150 and depreciation of equipment RM800.

Common layout errors

All formats →