How do I account for a sports club that hosts 5 different sports - Football, Volleyball, Golf, Table Tennis and Badminton?
Do I treat each sport as a subsidiary/restricted fund? So for example football equipment can only be paid via any income football generates etc?
Or do I keep things centralised and have all expenses run through myself before approving etc?
We are a fairly new sports club and 2019 will be our first accounting year.
When I compile the annual accounts, do I do seperate accounts for all the sports and then consolidate it?
And in terms of budgeting, same question as above.
Thank you for your help!