Entrance Fee
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One-hour paid trial · Same-day reply · from RM50/hr
Accounting for Clubs and Societies
MS: Yuran Masuk · EN: Entrance Fee · ZH: 入会费
Meaning
An entrance fee (joining fee) is a one-off payment charged to a new member on first joining the club. It is normally treated as revenue income and credited to the Income and Expenditure Account in the year received. Some clubs choose to capitalise it into the Accumulated Fund according to club rules.
Example
For example, Cahaya Photography Club charges an entrance fee of RM50 to each new member. That year, 10 new members join, so the entrance fees of RM500 are credited as income in the Income and Expenditure Account.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 5