Regulations on Bookkeping in Foreign Currency in Turkey
Legal Framework In Turkey, companies may keep their books in a currency other than the Turkish Lira, in accordance with Article 215 of the Tax Procedure Law (VUK) and General Communiqués No. 404 and 569. As a rule, all books and documents must be kept in Turkish Lira (TL). However, companies with certain characteristics are […]
Delivery Note in Turkey: Definition, Types, Issuance Rules, and Legal Requirements
One of the most important elements of commercial operations in Türkiye is the delivery note, which legally documents the delivery of goods and services. For businesses operating in Türkiye, it is mandatory under the Tax Procedure Law (VUK) to officially record all goods dispatched or services rendered.A delivery note is an official document confirming that […]
Reconciliation Services in Turkey
The accuracy of a company’s financial records depends not only on proper bookkeeping but also on the regular verification and alignment of these records with third parties. Reconciliation services ensure financial reliability and transparency by verifying that the receivable, payable, inventory, bank, and intercompany accounts in financial statements match official records. What Is Reconciliation? Reconciliation […]
Invoice Issuance Service
For all companies operating in Türkiye, invoice issuance is a legal obligation governed by the Turkish Tax Procedure Law and related regulations. Managing invoicing processes accurately, timely, and in full compliance with legislation is essential — not only for regulatory compliance but also for maintaining financial transparency and corporate credibility. At ÖzbekCPA, we provide invoice […]
Operating Method of Expense Accounts: Turkish Accounting System and Uniform Chart of Accounts
Importance of Expense Accounts Within the Turkish Uniform Chart of Accounts (TDHP), the correct operation of expense accounts is essential for ensuring the reliability of financial statements. Particularly with the 7/A option, production and operating expenses play a critical role in calculating costs accurately and determining the company’s profit or loss for the period. General […]
Accounting and Payroll Services in Turkey: Essential Solutions for Compliance and Efficiency
Accounting and Payroll Services in Turkey are essential for companies aiming to maintain operational efficiency while ensuring full compliance with local laws. In a competitive business environment, accurate financial management and proper employee payment processes are critical to avoiding costly penalties and sustaining long-term success. Understanding Accounting Services in Turkey Accounting services go beyond simply […]
Payroll and Accounting Services in Turkey
Achieving success in the business world is not limited to offering quality products or services. Proper financial management and accurate employee payments are critical to the sustainability of businesses. At this point, payroll and accounting services in Turkey come into play. Many companies in Turkey benefit from professional support in these areas to make their […]
How is Company Performance Measured Using Financial Ratios in Turkey?
Financial statements are the most fundamental source of information about the financial health of companies operating in Turkey. However, it is the analysis of this information through financial ratios that makes the data presented in these statements meaningful. Financial ratios reveal a company’s performance in key areas such as liquidity, profitability, efficiency, and return on […]
Outsource Accounting vs. In-House Accounting in Turkey: Which is the Best Option?
For businesses operating in Turkey, managing financial processes effectively is key to sustainable growth and compliance. With evolving tax legislation, strict payroll obligations, and complex financial reporting standards, companies must choose between two main accounting models: building an internal accounting department or outsourcing accounting services in Turkey. In this article, we compare outsourced accounting vs. […]
What is Inflation Adjustment in Turkey ?
Inflation adjustment in Turkey is the procedure of modifying financial statements to accurately reflect the economic reality, considering the fluctuations in the purchasing power of currency. This involves adapting the Turkish Lira value of non-monetary assets in financial statements by utilizing adjustment coefficients. When is the adjustment scheduled ? The implementation of inflation adjustment is […]
