Membership Subscription
Book a Trial Class
One-hour paid trial · Same-day reply · from RM50/hr
Accounting for Clubs and Societies
MS: Yuran Ahli · EN: Membership Subscription · ZH: 会员费
Meaning
A membership subscription is a periodic payment charged to members to join and remain in the club. A Membership Subscriptions Account is prepared to determine the subscriptions earned for the current year after adjusting for arrears and advances. Subscriptions are the club's main source of income.
Example
Suppose Maju Sports Club receives RM5,000 in subscriptions in cash. After deducting RM200 received in advance and adding RM300 in arrears, the current-year subscription is RM5,100, which is transferred to the Income and Expenditure Account.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 5