The accounting procedures for any private club is wee different from the rest of business clubs. This is because private clubs are formed with a specific purpose in mind by likeminded people. Private clubs are formed to either socialize or to play games like tennis and golf. These are non-profit organizations that are run and maintained by the club members. Acquisition of space and facilities and their maintenance are all the responsibility of club members and so income and expenditures herein are way different from other business entities.
For starting and maintaining a private club, generally the club members calculate the cost of acquiring and maintaining the facilities in the club and then decide upon the funding mode; whether by way of user fee or by collecting dues. Any club thrives only when it offers several amenities, and amenities cost money. One way to raise fund is to charge higher membership free from the members; the other way is to open the facilities to non-members and
