Education
Student Club Agency Funds (Held for Others)
Recording cash collected by a student club that is held in the university's bank account.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash | Asset (+) | 500.00 | - |
| Due to Student Organizations | Liability (+) | - | 500.00 |
💡 Accountant's Note
The school acts as a bank for the 'Robotics Club' or 'Debate Team.' The money is a liability, not school revenue, because the students decide how to spend it.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.