Membership dues likely make up a large portion of your association’s revenue. They allow your organization to provide compelling membership benefits and form a community of like-minded individuals united by their shared professions or interests.
However, recognizing dues revenue can be a complex process. As Strategic Association Solutions’ Accounting for Nonprofits guide explains, “Members pay dues on a recurring basis. That means membership-based organizations need to understand how to manage recurring payments, recognize deferred revenue, and keep track of lapsed memberships and unpaid dues.”
This guide will provide some membership dues revenue recognition best practices so your association can stay organized, remain compliant and adhere to nonprofit accounting standards.
Please select this link to read the complete article from ASAE’s Center for Association Leadership.