Financial Services in Turkey
We support the financial management of your subsidiary in Turkey, which will be a critical advantage not only in the initial period but also during all your operations here. Your staff will be able to fully focus on their business, and generate sales accordingly, without having to spend time with specific financial tasks they may have little experience with. You can benefit from the professional financial consultancy provided by us, without the need for hiring additional staff in this field.
- Our Services for your Financial Management in Turkey
- Finance Consulting in Turkey
- Accounting Outsourcing in Turkey
- Bookkeeping Services
- Payrolling in Turkey
- Financial Reporting in Turkey
- Payment Transactions
- Advantages of Financial Services in Turkey with FMC Group
Our Services for your Financial Management in Turkey
FMC Group built up 20+ years of experience in handling foreign companies’ all daily issues, which solves every question mark before it even comes up. Tax issues become easily understandable, the figures and reports will be presented in the way you need them. Working with FMC Group is like being in the same company, working strongly integrated together. The services are set up as a combination of the following areas:
- Finance Consulting
- Accounting Outsourcing
- Financial Reporting
- Payment Transactions
Finance Consulting in Turkey
Our Finance Consultants are pleased to handle all your daily finance issues in Turkey in line with your needs. With the support of our senior staff, all bank, bookkeeping, tax, finance and payrolling tasks are solved before they even come up.
Accounting Outsourcing in Turkey
For legal reasons, bookkeeping, preparation and filing of tax returns, payrolls, and notifications to the social security institution are carried out by an external, legally authorized, independent, registered tax consultancy office.
We are controlling the documents and account details while managing and coordinating the bookkeeping tasks along with the other financial issues. Our competent, daily communication and consultancy enables cooperation that meets international requirements.
The bookkeeping consists of the following service items:
- Keeping of the legally required books (general ledger and journal)
- Recording of the incoming and outgoing invoices in line with the legally required uniform chart of accounts
- Monthly updating of the accounts receivable and accounts payable
- Keeping the register of fixed assets, and calculation of depreciation
- Booking of the stock value and the costs of goods sold calculations according to official requirements, based on the stock amounts and value provided by our clients
- Accounting reports in Turkish according to the legal requirements
- Preparation and filing of tax returns
- Monthly or quarterly withholding tax declaration (for taxes on wages or on third-party services)
- Monthly VAT return
- Quarterly prepaid corporate income tax returns
- Annual statement of accounts according to official requirements
- Annual corporate income tax return of the company
- BA-BS notifications to the tax office
Payrolling in Turkey
FMC Group provides different options for payrolling issues in Turkey. FMC Services is providing payroll accounting for your companies and offices located in Turkey, whereas Employee Leasing options are also available through our subsidiaries.
Our payroll accounting consists of the following service items:
- Preparation of payrolls
- Booking wages, taxes, and social insurance contributions
- Declarations to be submitted to the State Social Security Institution (SGK)
Financial Reporting in Turkey
Our senior consultants can carry out the adaptation, extension, or detailed analysis of the reports prepared by Accounting in English or German for our clients. Although we are not limited with the scope of reports, especially our following financial report types might be of high interest for your business in Turkey:
- Financial reporting according to client’s specific forms and requirements – monthly, quarterly, yearly
- Consolidation packages and year-end financial reports
- Reporting support during client’s audits
The reports can be adopted to IFRS or other international reporting standards. The differences of the local GAAP will be reflected transparent and understandable.
Our finance experts can handle all tasks related to payment transactions, planning, and controlling including:
- Communication with banks
- Invoices and cost controlling
- Registration of all checked and approved invoices for payment planning
- Cash-flow planning
- Weekly execution of payment transactions: Settlement of due invoices via internet or through payment order by fax
- Controlling and paying the employee expenses
- Wage payments
- Payment of taxes and social security contributions.
The transactions are prepared under the supervision of our senior staff, for the most comfortable proceeding preferred in line with the requirements of our clients.
Advantages of Financial Services in Turkey with FMC Group
- A team of highly skilled and qualified finance experts
- Communication of financial issues in the way our international clients are familiar with
- No in-house financial department necessary
- Professional, well established, standardized service package with control loops
- Additional security
- Even well-established companies in Turkey outsource these services to us because of our substantial experience
- Experience with all types of reports for corporate groups
- Qualified reporting team with know-how on the differences of local GAAP
- Ability to make local GAAP differences transparent and understandable
So if you are planning to build up your business in Turkey or if you would like to have better finance and accounting management, for sure it would be worth having an unconditional and unbinding meeting with us.
Please feel free to be our guest, at any time!
Disclaimer: Although we carefully researched and compiled the above information, we do not give any guarantee with respect to the actuality, correctness, and completeness.