In order for the finances of your club to be healthy, it is essential to control the income and expenses of the club.
Many times, club managers think only of generating more income. In fact, it is a fundamental part for the club to maintain itself and continue to grow. As a club manager, you have to have solutions to maintain the income. Search for grants, find sponsors … and most importantly, ensure payment of athletes and partners. Approximately 60% of a club’s income comes from its athletes.
On the other hand, it is essential to control the expenses of your sports club. This is one of the headaches of every club. Not consuming all the income and knowing how to manage all the money efficiently is a difficult but not impossible task.
It is clear that an application alone is not going to make a club totally control expenses. There are many factors that affect such as the involvement and knowledge of the board of directors, the cost structure of the club already formed or even the region where it is located.
However, surely the use of specific tools can help you to have control. And thanks to this control, better decisions can be made, and strategies applied to reduce these costs.
We leave you here a list with the best applications that will help you keep track of your club’s collections and payments efficiently.
- Fintonic . This application is free and allows you to control the money that enters and leaves your checking account. It allows entering the data of several accounts even if they are from different entities. One of the strengths of the app are the balances, they allow you to know what you are spending the money on and if there is more spending than expected.
- Mint: Budget, bill, finance . It allows you to automatically catalog your expenses, make alternative budgets and add reminders so you don’t forget any payments. It also allows you to have control over your investments and an alert option. It’s also free.
- Money pro . This application allows you to reduce expenses, pay bills, manage the finances of different groups such as personal family and business separately or attach photos and important information.
- Wally+. Free app similar to the others, but with the novelty of a location system that lets you know the exact place where you have paid for a product or service.
- Splitwise. Allows you to create groups in which each user records the expense they have made. The application calculates how much each participant must pay. One of the interesting options offered by this app is to export all the data in a spreadsheet to be able to share it by email with people who are not registered but who are among the expenses.
- Bitcoin Wallet . Provides a detailed analysis of the steps taken. The security measures allow you to protect the data through a password although it also allows you to disable access from the phone in case of having a problem such as theft or loss.
Have you already made up your mind? Try the different solutions that we advise and tell us about the experience you have had in your club. If you use another tool, put a comment so that we can study it and we can add it to this list.
And if you already have expenses controlled, visit this post so you can start boosting your club’s income.