Team managers set up your team bank account at a bank of your choice.
- Pick whatever bank you want.
- Must have 2 signors - manager/coach, manager/treasurer (this provides accountability and transparency, so one person doesn't have sole control of money)
- You will set up the account as a personal account with your social security number. It CANNOT be a business account that tries to use a tax ID from a business or the club. WSA will NOT be providing you a tax ID number.
- Since you are using your SSN, your name will be on the account. Then you should also do a DBA. (Example - John Smith, DBA WSA 02 Black). This makes sure the team name is on the account.
- Recommendation: Get Team Coach and Manager/Treasurer a bank card. Then you have one for tourney applications, etc. and coach has one for direct charges (hotel room, rental car, plane ticket, etc.) so you don't have to reimburse each time.
- Team Account Audit: WSA Accountant or WSA Officers will perform semiannual team account audits.
Note: Even though you are using your SSN, there is absolutely no tax implications or tax documents that would be issued. It is a straight In & Out all year long. You collect team dues from families, then you pay out all team expenses. At end of year, you can roll foward any balance in the account to the next year as starting capital (and refund any monies that are due to any exiting families).