1. Accounts of Non-Trading Organisations
Receipts and Payments

2. RECEIPTS Revenue vs. Capital
Revenue Receipts
Income collected by the club to carry out the daily activities.
Capital Receipts
Income collected for the specific purpose improving a fixed asset or the sale of a fixed asset

3. Egs. of Revenue vs. Capital Receipts
Revenue Receipts
Subscriptions
Entrance fees
Rental received
Profit from sales of refreshments
Donations
Walkathon
Commission received
Capital Receipts
Building of extension to the club house
Construction of swimming pool
Sale of fixed assets

4. EXPENDITURE Revenue vs. Capital
Revenue Expenditure
Money spent in running the daily activities of the club.
Capital Expenditure
Money spent by a club to buy or add value to a fixed asset.

5. Egs. of Revenue vs. Capital Expenditure
Revenue Expenditure
Purchases of goods for resale
Rental of club house
Wages
Insurance, rates, sundry expenses
Maintenance and repairs
Depreciation of fixed assets
Petrol costs for van
Capital Expenditure
Purchase of fixed assets
Painting outside a new building
Putting extra headlights on motor van
Construction or extension of club house

6. Nothing different!! Profit-making firm Non-profit organisation
Trading & Profit & loss account
Income and expenditure account
Net profit
Surplus of income over expenditure
Net loss
Excess of expenditure over income
Capital account
Accumulated fund
Cash Book
Receipts and Payments account

7. SUBSCRIPTIONS Revenue Receipts Subscriptions in Arrears (Dr. Balance)
Subscriptions in Advance (Cr. Balance)