Back-office glossary

Current account (cari hesap)

The account holding the payable and receivable movements between you and a customer or supplier. Invoices increase the balance, collections and payments reduce it; the balance shows your net position with that party. More →

Current-account reconciliation (cari hesap mutabakatı)

Confirming in writing that the balance with a counterparty is the same in both parties' records as of a given date. The other side confirms the balance or disputes it by stating its own. More →

Trial balance (mizan)

A list showing, as of a date, the debit total, credit total and balance of every account in the chart of accounts. In double entry, debit and credit totals must be equal; the trial balance is the first way to check it. More →

Journal entry (yevmiye kaydı)

Recording a transaction in date order, stating which account is debited and which is credited. In every journal voucher the debit total equals the credit total. More →

Double-entry bookkeeping (çift taraflı kayıt)

The method in which every transaction is recorded as a debit to at least one account and a credit to at least one other, for equal amounts. For a collection, for example, the bank account is debited and trade receivables credited. More →

Uniform chart of accounts (tekdüzen hesap planı)

The standard list of account codes used by businesses in Turkey. For example 100 Cash, 102 Banks, 120 Trade Receivables, 320 Trade Payables, 391 Output VAT, 600 Domestic Sales. Companies open sub-accounts as needed. More →

VAT (KDV)

Value added tax charged at each stage of supplying goods and services. The rates in force are 1%, 10% and 20%. VAT payable is output VAT on sales less input VAT paid on purchases. More →

VAT withholding (KDV tevkifatı)

In some transactions, part of the VAT is declared and paid by the buyer as the responsible party instead of the seller. The withholding share depends on the transaction type. More →

E-invoice (e-Fatura)

An invoice issued, delivered and stored electronically between taxpayers registered in the e-invoice system. It is issued through a private integrator or the Revenue Administration's systems. More →

E-archive invoice (e-Arşiv fatura)

An electronic invoice issued to buyers not registered in the e-invoice system, individual customers for example. It can be sent by email or as a printout. More →

E-ledger (e-Defter)

Keeping, certifying and storing the journal and general ledger electronically. Keeping the books is the accountant's responsibility; day-to-day bookkeeping records feed data into them. More →

Form BA/BS (abolished)

Monthly forms reporting purchases (BA) and sales (BS) above a threshold. Under Tax Procedure Law General Communiqué No. 565 they are not filed for September 2024 and later periods. Current-account reconciliation is still used to confirm balances. More →

Social security premium (SGK primi)

The social security premium paid as an employee and an employer share on the employee's earnings subject to premiums. It is made up of disability, old-age and survivors' insurance, short-term insurance and general health insurance premiums. More →

Minimum wage exemption (asgari ücret istisnası)

The exemption from income tax of the wage corresponding to the minimum wage less the employee's social security and unemployment contributions (Income Tax Law Art. 23(18)). In practice the tax on the minimum wage is deducted from each employee's tax. More →

Stamp duty on wages (damga vergisi)

A tax calculated on gross pay and deducted in payroll. The part corresponding to the minimum wage is exempt. More →

Severance pay (kıdem tazminatı)

Compensation paid to an employee on qualifying terminations, based on length of service. Its basis is Article 14 of Law 1475, kept in force by Article 120 of Labor Law 4857. More →

Notice period (ihbar süresi)

The notice a party terminating an open-ended employment contract must give (Labor Law 4857 Art. 17): two weeks for under six months' service, four weeks for six months to a year and a half, six weeks for a year and a half to three years, eight weeks for more than three years. If notice is not given, pay in lieu of notice equal to that period is due. More →

Attendance sheet (puantaj)

The monthly table of each employee's working, leave, sick-leave, absence and overtime days. Payroll is calculated from it. More →

Advance (avans)

An amount paid to an employee before payday and deducted from later payrolls. It is tracked through request, approval, payment and deduction. More →

Asset assignment (zimmet)

Handing a company asset (computer, phone, vehicle) to an employee's use and responsibility. Handover and return are recorded with a signed form. More →

DSO (days sales outstanding)

How many days, on average, it takes to collect sales: (trade receivables at period end ÷ sales for the period) × days in the period. A lower DSO means cash turns over faster. More →

Collection (tahsilat)

Receiving what a customer owes by cash, transfer, card or cheque. The collection is linked to the invoice and reduces the current-account balance. More →

Installment plan (taksit planı)

Splitting a total into parts payable on set dates. Each installment's due date is tracked separately and a reminder goes out before it. More →

Quote (teklif)

A document offered to a customer setting out scope, items, price, payment plan and validity. An accepted quote becomes the basis for the contract and the sale. More →

Lead (potansiyel müşteri)

A person or company that has shown interest but has not bought yet. Its source (ad, web form, WhatsApp) is recorded, it is assigned to a salesperson and converted to a customer after a quote. More →

CRM

Customer relationship management: keeping contact details, conversations, notes, appointments and sales history for customers and leads on one record. More →

KVKK

Law No. 6698 on the Protection of Personal Data, Turkey's data protection law. It sets the conditions for processing personal data, the duty to inform, data security and transfers abroad. More →

VERBİS

The Data Controllers' Registry Information System. Under Article 16 of KVKK, people and entities processing personal data must register before they start processing, unless exempted by the Board. More →

Sub-processor (alt işleyen)

Another provider that a data processor uses for processing it carries out on behalf of the data controller, such as hosting or email delivery. Under KVKK a data processor is someone who processes personal data on the controller's behalf, based on the authority the controller gives. More →

SLA (service level)

Measurable targets for a service such as availability, response time or resolution time. It is used internally too: for example, how many minutes a first reply to a new lead should take. More →

Opening balance (açılış bakiyesi)

The starting balances of accounts when moving to a new system or period. They should be entered from the accountant's closing trial balance at the switch date. More →

Month-end close (ay sonu kapanış)

The process of checking and completing a month's bank, invoice, expense and payroll records and preparing the reports for the accountant. More →

Frequently asked questions

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