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40 results Lessons 40

1. Lesson · Level 3

   Deductible VAT: which document reduces your VAT and which does not?

   For the VAT paid on a purchase to be deductible from the VAT on sales, the purchase must be business-related, the invoice or similar document must be issued in the business's name with the VAT shown separately, and the d …

2. Lesson · Level 3

   Calculating VAT line by line: do you pay, or does it carry forward?

   A month's VAT is found like this: the VAT you collect from customers on sales (output VAT) minus the VAT you pay on purchases and are able to deduct (deductible VAT) minus the VAT carried forward from the previous month. …

3. Lesson · Level 3

   What does VAT withholding (tevkifat) mean: who deducts it, and who pays whom?

   VAT withholding means that part or all of the VAT on an invoice is paid straight to the state by the buyer, not to the seller. The buyer makes the deduction and pays it in with its own return (KDV-2); the seller collects …

4. Lesson · Level 3

   The VAT return month: your side

   In most businesses the VAT return is filed by the mali müşavir (accountant); your job is to make sure all the invoices you issued and received during the month reach them in full. An invoice is issued within seven days a …

5. Lesson · Level 5

   Accounts that look risky: cash, ongoing losses, VAT refunds and the risk of fake documents

   Cash that looks high in the records but is not in the drawer can be treated as the partner's debt to the company and have interest charged on it. Losses that go on for years and VAT refund claims lead to documents being …

6. Lesson · Level 5

   Cheques, promissory notes, credit sales and card payments: when does the money come into the cash box?

   Cash and bank transfers come in the same day; card sales come in after the holding period in your agreement with the bank, minus commission; and a cheque comes into the cash box when the date on it arrives and it is coll …

7. Lesson · Level 3

   Credit sales and payments: who owes you, and whom do you owe?

   Put a written due date on every sale, sort receivables by how late they are rather than by amount, and update the list once a week. A short message before the due date, a phone call once it is late, and after 30 days tal …

8. Lesson · Level 5

   A loan, leasing or your own money?

   Your own money is the cheapest, but it empties the cash box in a day; if a few months of fixed costs are not left in the cash box after the purchase, it is not suitable. With a loan, in addition to interest there is BSMV …

9. Lesson · Level 3

   A month's calendar: what is due on which day?

   A month's business is reported and paid the following month: if you have employees, the muhtasar ve prim hizmet beyannamesi (withholding and premium service return) and the taxes withheld are due on the 26th of the follo …

10. Lesson · Level 1

    Issue your first invoice: line by line

    An invoice answers five questions: who to whom, when, for what, how much and what its VAT is. The seller's and buyer's details, the date, the work done, the VAT rate and the total must be complete. Under the Tax Procedur …

11. Lesson · Level 0

    Setting money aside for tax: put some away every month

    Tax should be set aside on the day you earn, not on the day you pay. If you are a VAT payer, the VAT on your invoice is already money held in trust for the state; for the tax to be paid on your profit, a share should als …

12. Lesson · Level 5

    The uniform chart of accounts: the accounts you see most often, from 100 cash to 770

    The uniform chart of accounts (tekdüzen hesap planı) is the common list of accounts used by those keeping books on the balance-sheet basis. The first digit of the code gives the main block: 1 current assets, 2 fixed asse …

13. Lesson · Level 1

    Simplified taxation or real taxation?

    Simplified taxation is a simple path for small sole traders: since 2021 its earnings have been exempt from income tax; there are no legal books, no VAT return and no annual income tax return. But since 1 January 2026, in …

14. Lesson · Level 0

    The first 30 words 2: Tax words

    VAT (KDV) is money you collect from customers and hold in trust for the state. Withholding tax (stopaj) is someone else's tax that you deduct when making a payment and pay to the state. Income tax (gelir vergisi) is take …

15. Lesson · Level 5

    What is depreciation? Useful life, rate and the 12,000 lira limit

    Depreciation is recording as an expense the cost of things used in the business for more than one year, such as machines, vehicles and furniture, by spreading it over the years they will be used (VUK art. 313). As a rule …

16. Lesson · Level 0

    What is tax: where does the state's share come from

    The main payments an employer meets are: VAT (KDV, money held in trust: collected from the customer and handed to the state), income tax or corporate tax (a share of profit), withholding tax (stopaj, deducting someone el …

17. Lesson · Level 5

    Working capital: how much cash do you need as you grow?

    The working capital you need is the money tied up in receivables and stock, minus the credit period your supplier gives you. For a new piece of business it is found roughly by multiplying daily cash spending by the cash …

18. Lesson · Level 5

    Reading the trial balance: what should you look at in the one your mali müşavir sends?

    The trial balance (mizan) is a control table that shows the debit and credit totals and the balances of all accounts in a single list; the debit and credit totals must always come out equal. When reading it, look for rev …

19. Lesson · Level 4

    The income statement line by line: from sales to net profit

    The income statement shows the road from sales down to profit over one year: deduct the cost of the goods sold from net sales and you get gross profit; deduct the business's expenses and you get operating profit; after i …

20. Lesson · Level 4

    Cash conversion cycle: how many days until receivables and stock turn into cash?

    … from his suppliers. He will close 2026 well: 3,650,000 lira of sales excluding VAT and 280,000 lira of profit before tax. But all year, at every month end, the same rush: cheque day is coming, and there is no money in t …

21. Lesson · Level 5

    Debit and credit: the two sides of every transaction

    … cash box . Tülin Hanım's four transactions (sample figures) In 2026 the general VAT rate is 20%; in the example this rate applies to Tülin Hanım's goods. 1. Goods from a supplier on credit. A 10,000 lira set of glasses a …

22. Lesson · Level 5

    Fixed costs, variable costs and unit cost

    … ents and box for one cake come to 320 lira; she sells it for 700 lira excluding VAT. More than half is profit, she says. But the month-end figures don't come out the same every month. Some months are comfortable; in othe …

23. Lesson · Level 5

    How many months does an investment take to pay for itself? The payback period

    … anım the dry cleaner, we calculate the payback period, see how depreciation and VAT enter this calculation, and how to test it with three scenarios. Ayşe Hanım the dry cleaner's new machine The rules described in this le …

24. Lesson · Level 0

    Invoices, receipts and documents: why everything needs a document

    … x numbers of the seller and the buyer, the goods or service, the amount and the VAT. It is the main document for a transaction between two businesses. - A receipt is the paper for a consumer sale that goes over the count …

25. Lesson · Level 5

    The 13-week cash plan: breaking the next three months into weeks

    … shows each month's recurring payments three times side by side: salaries, rent, VAT, the muhtasar return, SGK. - It catches the payments that come once every three months. Provisional tax (geçici vergi) is one of them; f …

26. Lesson · Level 5

    The bad-month scenario and the cash reserve: if money runs short, which payment comes first?

    … eparate account, and, when money runs short, put the tax return, salaries, SGK, VAT and Bağ-Kur in order according to the cost of being late. Nihat Usta the restaurant owner's two bad months The rules described in this l …

27. Lesson · Level 5

    A new employee or a second branch? Extra cost, extra sales, break-even

    … gin: what is left from each sale One of Hasan Abi's pides is 200 lira excluding VAT. The dough, minced meat, cheese, firewood and packaging come to 80 lira. Once these variable costs are taken out of the sale, 120 lira i …

28. Lesson · Level 4

    For those keeping a business book: the business account summary

    … = 1,500,000 − 1,260,000 = 240,000 lira. The sales and purchase figures exclude VAT; VAT is tracked separately: if you are a VAT taxpayer, on the VAT return you file every month, the VAT you paid on purchases is deducted …

29. Lesson · Level 0

    How money moves: income, expenses and what is left

    … been taken out of it yet. A note: to keep things simple, this lesson leaves out VAT (KDV, value added tax). In real life, if you are a VAT payer, that is, a business that adds VAT to its sales, the VAT inside the money y …

30. Lesson · Level 5

    Deciding on discounts and promotions with figures

    … ch does a discount eat into profit? Sevgi Hanım's shirt is 1,000 lira excluding VAT. The purchase price is 600 lira. The contribution margin (katkı payı) per shirt is 400 lira, that is, 40% of the price (what is the cont …

31. Lesson · Level 4

    Profit margin: what do gross and net tell you?

    … of latte costs her 40 lira: coffee, milk, cup, lid. The selling price excluding VAT is 100 lira. She tells her friends, I make 150% on every latte. But in the 2026 table her mali müşavir (accountant) sent in January, und …

32. Lesson · Level 0

    The first 30 words 1: Money and document words

    … omeone tells you my turnover is this much , ask whether that is with or without VAT (KDV). The two figures are different. In the accounting records, turnover is the amount without VAT, because VAT is not your share but t …

33. Lesson · Level 3

    Withholding tax and the muhtasar return: deducting and paying in someone else's tax

    … m a company, the situation is different: the company issues you an invoice with VAT, and you do not deduct withholding tax. If the person renting it to you is a business owner themselves, ask your mali müşavir about the …

34. Lesson · Level 5

    Looking at KOSGEB and incentives while growing

    … electronic system called E-TUYS. The support listed in the Decision includes a VAT exemption on machinery purchases, customs duty exemption, a tax reduction, interest or profit-share support and, in some regions, suppor …

35. Lesson · Level 4

    Reading your mali müşavir's statements: a 10-question check

    To check the income statement (gelir tablosu) and balance sheet (bilanço) your mali müşavir prepares, you do not need to recalculate every figure. Compare net sales with the total, excluding VAT, of the invoices and cash …

36. Lesson · Level 3

    The 30-minute month-end checklist

    … ork finished in the last days of the month is issued within seven days, and its VAT belongs, as a rule, to that month; the details are in the lesson The VAT return month. Ask the supplier today for any purchase invoice t …

37. Lesson · Level 5

    Updating prices under inflation: passing cost increases on to your prices

    … yin Bey's calculation The figures for an average portion, rounded and excluding VAT. He sells 3,000 portions a month. January 2026 October 2026 Variable cost per portion (meat, vegetables, oil, bread, packaging) 200 240 …

38. Lesson · Level 1

    Mali müşavir fees and the contract

    … state: 1. Which work? Every job one by one, such as keeping books, the monthly VAT (KDV) return and the yearly income tax return. 2. How much? A monthly or yearly figure, and whether VAT is included or not. 3. When is i …

39. Lesson · Level 5

    Normal or declining balance? Two methods, the same total

    … . In January 2026 he bought a laser cutting machine for 500,000 lira (excluding VAT). His mali müşavir (accountant) sent two tables: We can set aside depreciation (amortisman) in two ways. The total is the same; the spre …

40. Lesson · Level 0

    Profit but no cash: where is the money waiting?

    … vir (certified public accountant) knows that. 4. The state's share If you are a VAT payer, the VAT (KDV, value added tax) included in a sales invoice is not yours; it is the state's money. Tax is also paid on your profit …