Accounting for sports clubs and associations with ECIT

NIF requirements for sports club accounting

All sports clubs affiliated with the Norwegian Confederation of Sports (NIF) are required to keep accounts. NIF's statutes require sports clubs to keep accounts in accordance with regnskapsloven (the Norwegian Accounting Act) or generally accepted accounting principles for non-profit organisations. The accounts must be audited by an elected auditor, and the annual accounts must be approved at the annual general meeting.

The requirements include ongoing bookkeeping of all income and expenses, bookkeeping according to the sports chart of accounts (NIF's recommendation), annual accounts with an income statement and balance sheet, auditing of the accounts and reporting via coordinated reporting (samordnet rapportering).

For associations that are not affiliated with NIF, the general rules of regnskapsloven apply. Organisations with a turnover of more than NOK 5 million are required to keep accounts regardless of affiliation.

Important: Inadequate accounts can lead to the loss of VAT compensation and grants and, in the worst case, sanctions from NIF. A good accounting system is the foundation of healthy club finances.

How Rubic Regnskap works with ECIT

Rubic Regnskap is a collaboration between Rubic and ECIT — a Nordic accounting and IT group. The solution connects transaction data from the Rubic platform directly with ECIT's accounting expertise, so the sports club avoids manual work.

1. Rubic collects all transactions
   Membership fee payments via Vipps, card and eFaktura are registered automatically in Rubic. Expenses, ticket revenue and other payments are captured in real time.
2. Data is transferred to ECIT
   Transaction data from Rubic is automatically transferred to ECIT for bookkeeping. No manual entry or file exports.
3. ECIT keeps the accounts on an ongoing basis
   A state-authorised ECIT accountant records, reconciles and follows up the accounts throughout the year. They know the sports chart of accounts and the requirements for sports clubs.
4. Annual accounts and reports
   The annual accounts are prepared for the audit and the annual general meeting. The income statement, balance sheet and notes are delivered ready for audit.
5. VAT compensation
   ECIT ensures that the accounts meet the requirements for VAT compensation, so the sports club gets back what it is entitled to.

Accounting for associations

Rubic Regnskap is not just for sports clubs. Associations, organisations and federations that use Rubic Medlem can also use the accounting service. ECIT has extensive experience with accounting for non-profit organisations and adapts its follow-up to the organisation's needs.

For associations that handle membership fees, donors, events and grants, it is especially valuable to have an accounting system that is integrated with the payment module. All incoming payments are registered automatically, and the accountant gets a complete picture without manual work from the board.

Frequently asked questions about accounting

Are sports clubs required to keep accounts?

Yes, all sports clubs affiliated with NIF are required to keep accounts under NIF's statutes. The accounts must be kept in accordance with regnskapsloven (the Norwegian Accounting Act) or generally accepted accounting principles for non-profit organisations, and audited by an elected auditor.

How much does accounting cost for a sports club?

Costs vary with the size and complexity of the club. Contact Rubic for a price estimate.

What is VAT compensation for sports clubs?

Sports clubs can apply to get back part of the VAT on goods and services. To qualify, the accounts must be correct and an auditor's certificate must be available. Rubic Regnskap via ECIT ensures that the requirements are met.

How does Rubic Regnskap work with ECIT?

Transaction data from Rubic is automatically transferred to ECIT for accounting. A state-authorised accountant handles ongoing bookkeeping, annual accounts and audit preparation — all available via the Rubic platform.

Can associations also use Rubic Regnskap?

Yes, Rubic Regnskap is available to both sports clubs and associations that use the Rubic platform. ECIT has extensive experience with accounting for non-profit organisations and adapts its follow-up to the organisation's type and size.