Membership Dues

What are Membership Dues?

Membership dues are regular payments made by members of an association. The dues represent the cost of being a member of the association, and are used to fund activities carried out by the organisation.

Membership dues are distinct from membership fees which tend to be one off payments.

The for membership dues paid in advance is similar to other forms of income. For example, if a member pays an annual membership renewal of £1,200 in cash then the bookkeeping entry would as follows:

Annual membership dues paid in advance
Account Debit Credit
Cash 1,200
Deferred membership income 1,200
Total 1,200 1,200

In month one, one twelfth of the membership dues paid in advance would be recognized as income, and the following entry would be made:

Membership dues recognized in month one
Account Debit Credit
Deferred membership income 100
Membership income account 100
Total 100 100

For further information see the Wikipedia definition.

Learn a new bookkeeping term

Random bookkeeping terms for you to discover.

Link to this page

Click in the box and paste this members dues definition link to your site.

Return to the Dictionary

Membership Dues March 23rd, 2016Team

You May Also Like

Related pages

ppe fixed assetsexcel annuity formuladebt gearing ratioopposite of accruedaccounting entry for deferred tax assetthe term fob shipping point meansdouble entry bookkeeping templatewhat does contra asset meandiscounted cash flow excel formulaunearned income journal entryinvestment in preferred stock on balance sheetpresent value of annuity due formulaasset efficiency ratiosgoodwill accounting treatment examplesub ledgersbounced check definitionaccruals and deferred income balance sheetchart of accounts restaurant examplehow to work out markupprepaid rent journal entryaccounts receivable debit or credit normal balanceadjusting entry for depreciationjournal entry for convertible bondsbalance sheet debits and creditseconomic entity assumption accountingpv function excelaccounting equation pdfshipping fob definitionwrite off bad debt journal entryamortization of premium on bondsbookkeeping templates excelar accounting entriesledger accounting exampleaccumulated depis unearned revenue an asset or liabilityroyalty accounting entriesamortization expense formulaexcel interest rate calculatordebtors journalformat of asset registerequation for gross margindefinition of accounting and bookkeepinglifo calculationperpetual method of inventorycost of goods manufactured and soldaccounting flowchart exampleswhat are selling expenses on income statementpersonal and impersonal accountsaccounts payable general ledgerpmt calculator excelretained earning equationwhat is a accrued expensebond calculator excelretained earnings statement exampletotal manufacturing overhead variancehow to calculate net realizable valueaccounts payable days calculationwhat is subsidiary ledgeroutstanding rent journal entrycreditors collection periodexample of accrued expensesales ledger control account definitionmulti step income statement excel templatedebit accounts payableaccrued expense journalincome statement and balance sheet templatewhat are trade debtors and trade creditorsimprest system of petty cashprinciples of double entry bookkeepingpurchased supplies on account journal entryhistorical accounting concepttrade debtors ratioexcel ratio formulaconvertible preferred stock exampleamortized bondsdupont analysis spreadsheetaccrual to cash worksheetroce calculation examplenrv accountingaccounting equation templateledger entries examplespayroll liabilities vs payroll expensestabel pvinterest rate function excel