Football Team

Question asked by Nick Parsons 6 years ago

Hi, im new to clearbooks, currently with quickbooks but looking to maybe switch. I have a football club with 11 teams. I need to monitor and manage income and expense for each team along with the club as a whole. For example, we have sponsors. As an example let's say the main bank account for the club receives £500 for team A. I need to allocated £500 of our funds into the Team A account / category / project or whatever the best method is.

Any bank fed transaction expenses that follow this that need to be deducted from the Team A account need allocating. For example, the team have £500, I need to show that in a balance somewhere seperate from the main account (virtual) as the money will still be in the main account. The team buy a kit for £450. I then need to remove the £450 from the team A account so they still have £50 left.

Is this possible in clearbooks?

Thanks,

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1 Reply

Hi Nick,

Yes, this would be possible. In this case, you would create individual projects for each football team, where you can create invoices and bills against these projects and therefore, view individual Project Profit and Loss reports.

With regards to the bank accounts, we currently do not have sub bank accounts. The only way would be to allocate expenses to different projects which will only show you the profit/ loss and not the balance left to spend for each team.

Tommy

Best answer
6 years ago

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