Your search results

40 results Lessons 40

1. Lesson · Level 1

   How do you correct an invoice issued by mistake?

   An issued invoice is not deleted. If you notice the mistake straight away, you can cancel an e-Archive invoice (e-Arşiv) where you issued it; for a paper invoice you take back the original and write "İPTAL" (cancelled) o …

2. Lesson · Level 1

   e-Invoice or e-Archive? Which one do I issue?

   If the other party is registered in the e-Invoice (e-Fatura) system and you are registered too, you issue an e-Invoice; if not, you issue an e-Archive invoice (e-Arşiv fatura). If the buyer is a consumer and the amount d …

3. 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 …

4. Lesson · Level 5

   Invoices, loans and interest between companies: the arm's length price

   Rent, loans and services between sister companies must be at the arm's length price (emsal bedel) under Corporate Tax Law art. 13, that is, at the price you would charge someone you have never met. If the price does not …

5. Lesson · Level 0

   Invoices, receipts and documents: why everything needs a document

   A document is a paper showing that a transaction took place: an invoice, a retail sales receipt, a cash register receipt and so on. You cannot record spending without a document as an expense; if you do, it will not be a …

6. 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 …

7. Lesson · Level 0

   The first 30 words 5: Document types and e-Devlet

   An e-Invoice (e-Fatura) and an e-Archive invoice (e-Arşiv fatura) are invoices issued electronically instead of on paper; a dispatch note (irsaliye) is the travel document of goods, and an expense voucher (gider pusulası …

8. Lesson · Level 1

   When do you need a dispatch note (irsaliye)?

   If goods are being moved from one place to another, a dispatch note (sevk irsaliyesi) is needed; the invoice describes the sale, the dispatch note describes the journey. If the final consumer carries goods they bought at …

9. Lesson · Level 3

   Keeping documents in order: which document goes where, and how long is it kept?

   Put each document first under the month it belongs to, then into one of the files for sales, purchases and expenses, bank and card, or employees; the rent contract and fixed-asset invoices go in a separate permanent file …

10. Lesson · Level 3

    The 30-minute month-end checklist

    At the end of the month, look at five things in half an hour: do the cash, bank and card sales match the records; is there work without an invoice or a purchase invoice that hasn't arrived; what receivables and debts are …

11. Lesson · Level 1

    What do you send your mali müşavir every month? The monthly handover list

    Every month you should send your mali müşavir (accountant) that month's sales invoices, the invoices and receipts you received, your bank transactions and your cash position. If you have employees, information that affec …

12. 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 …

13. 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 …

14. 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 …

15. Lesson · Level 0

    The first 30 words 1: Money and document words

    Income (gelir) is the money that comes from what you sell; an expense (gider) is the money you spend to keep the business going; profit (kâr) is the difference between the two. Turnover (ciro) is total sales, and the inv …

16. 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 …

17. 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 …

18. Lesson · Level 3

    Business money and pocket money: a separate account, money taken out, card spending

    … om the cash box 15,000 No Put in from pocket 10,000 No Shampoo and towels (with invoice) 4,000 Yes, an expense In a company: receivables from the shareholder, debts to the shareholder Serkan Bey is a shareholder in a sma …

19. Lesson · Level 3

    How do you record the money coming in and going out every day?

    … y report Card sales Card 5,000 POS end-of-day Payment to the milkman Cash 1,500 Invoice Napkins and cups Bank 400 Invoice Money he took for himself Cash 1,000 Note: personal What should be in the cash box in the evening: …

20. 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 …

21. Lesson · Level 1

    Tradesman exemption: who is not a taxpayer

    … h a small business, does she need to go to the tax office, keep books and issue invoices? The answer: not always. The law has an exemption for small tradesmen. Being exempt means not being counted as an income tax payer: …

22. Lesson · Level 1

    Simplified taxation or real taxation?

    … ion does not mean I don't do anything . When you sell, you give a receipt or an invoice, you keep your documents, you make SGK notifications if you have employees, and you enter your records into the Defter-Beyan System. …

23. Lesson · Level 5

    Stock valuation: cost, average cost, count differences and impairment

    … ul Kanunu, VUK, art. 274). Cost is found by adding to the purchase price on the invoice the costs, such as delivery, of bringing the goods to the shop (VUK art. 262). Not the sales price on the label. This rule applies o …

24. Lesson · Level 4

    The year-end file for your mali müşavir: account reconciliation, bad debts, fixed asset list

    … e replies. If there is a difference, find the reason: usually it is a forgotten invoice, an unprocessed return or a payment still on its way. An example reconciliation letter is in the article How is account reconciliati …

25. Lesson · Level 5

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

    … t is spread: cost The figure spread over the years is not only the price on the invoice. Payments made to buy the thing and make it ready for use are added too: delivery, installation, customs and so on (VUK art. 262, 26 …

26. Lesson · Level 5

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

    … rs, losses that have gone on for years, VAT refunds and a suspicious supplier's invoice. None of them is an offence on its own, but the explanation should be ready. For each line we see why it stands out and how to fix i …

27. Lesson · Level 5

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

    … ne customer may show that too much money was taken from the customer or that an invoice that should have been issued was not. 320 showing a debit balance for a supplier may be an overpayment or an unrecorded purchase inv …

28. Lesson · Level 5

    Seeing several companies in one table

    … has its own books, its own bank account and its own tax returns. One company's invoice is not paid with the other's money; if it is, that is a debt between the two companies and is recorded as such. You saw in the previ …

29. Lesson · Level 5

    When does a second company make sense?

    … mployees, the vehicles and the premises are the same, the two companies have to invoice each other every month. These invoices must be issued at the arm's length price (emsal bedel), that is, the price you would charge a …

30. Lesson · Level 0

    Credit sales and current accounts: who owes whom

    … yet. But the work was done; this is income . Even if the money comes later, the invoice is issued within 7 days at the latest and it is recorded as income. For self-employed professionals such as doctors, lawyers and arc …

31. Lesson · Level 0

    Stock: money waiting on the shelf

    … the month. This month he fitted 4,000 lira of parts to customers' vehicles. He invoiced for these. Item Amount Parts bought at the start of the month 10,000 Used and sold 4,000 Left on the shelf (stock) 6,000 6,000 lira …

32. Lesson · Level 5

    Tax audit and on-site inspection: what is the difference, and what happens when they come?

    … nspection officer came. He looked at the sign, the cash register and that day's invoices, filled in a slip, had Saadet Hanım sign it and left her a copy. It took half an hour. Three weeks later a letter landed in her e-T …

33. Lesson · Level 4

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

    … 00 Line by line Gross sales and sales deductions This is the total of the sales invoices you issued and the cash register receipts (the end-of-day Z reports) over the year. It is recorded excluding VAT, because the VAT o …

34. Lesson · Level 4

    The year-end checklist: from December to July

    … ntment on 31 December, the count list template ready (The December count). - No invoices left unissued. The invoice for goods you delivered or work you finished in December is issued within 7 days at the latest (Invoice …

35. Lesson · Level 5

    Debit and credit: the two sides of every transaction

    … . 1. Goods from a supplier on credit. A 10,000 lira set of glasses arrived; the invoice shows 2,000 lira of VAT, and payment is due at the end of the month. Account Debit Credit Merchandise (ticari mallar) 10,000 Deducti …

36. Lesson · Level 1

    Opening a business account and a POS terminal

    … gister, yazar kasa): the device that records the sale and gives a receipt or an invoice-like document. It is a device tracked by the Revenue Administration (GİB). - POS: the device that takes card payments. You may think …

37. Lesson · Level 0

    The first 30 words 4: Books and accounts words

    … ure too . Because two separate people write the same debt in separate books, an invoice forgotten on one side, an amount entered wrongly, or money paid but not recorded may turn up. Usually one side sends the other an ac …

38. Lesson · Level 5

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

    … th. Write down the unit prices of the ten items you use most from your supplier invoices. Recalculate the variable cost per portion, product or service. - Set a trigger. For example, recalculate the price if variable cos …

39. Lesson · Level 0

    What a mali müşavir (accountant) does and does not do

    … n. What does a mali müşavir not do? - Does not collect documents. You bring the invoices, receipts and bank statements. - Does not manage money. You run your cash box, collections and supplier payments. - Does not make b …

40. Lesson · Level 3

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

    … the shop from 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 müşav …