The Importance of Legal Accountant Companies in Turkey
The legal accountant or financial accountant for companies in Turkey is the person who's been legally authorized to manage the companies' accounts. In this article, we will be answering important questions like what is the legal accountant in Turkey? what is its importance? What is its role in a company? How much does the legal accounting cost? And what is legal accounting exactly?
Table of Contents
What is the financial accounting in turkey?
A financial accountant is a person approved by the Turkish country to represent any company in front of it, and the job of the financial accountant is to receive invoices, expenses, and purchases of the company and register them with state departments.
The presence of a financial accountant in Turkey is a necessary condition for transactions between your company and the Turkish government.
The Importance of Legal Accountant Companies in Turkey
The main legal accountant roles / financial consultant roles in Turkey are to give trustworthiness to the financial statements prepared by the company’s management.
The importance of the financial consultant lies in providing accurate advisory information for the company for which the financial consultant is working for, to avoid making errors or illegal actions in dealing with government regulations, as the presence of the financial consultant achieves the best practices when dealing with company’s taxes.
What are the legal accountant permissions in Turkey?
The legal accountant in Turkey is the link that the Turkish government depends on to contact any legal company regarding the company's financial affairs, and in many other legal matters.
The legal accountant is in charge of the company's accounts of exports, imports, profits, and expenses and forms them as an official approved reports, the legal accountant is also responsible for calculating the monthly and yearly taxes of the company and carrying out the appropriate procedures on behalf of the company by submitting these data according to the method approved by the authorities in the ministries and directorates of Turkey.
What is the legal accountant field of work?
The work nature of the sworn legal accountant is to organize accounts, bills, pay taxes, prepare approved registration books, and audit all these documents based on the accounting system of the government.
Tasks of the legal accountant are:
- Organizing commercial records
They are the procedures related to organizing the process of importing and exporting external commercial records.
- Medical insurance claims processing
Which is organizing and preparing the following things:
- Preparing tables for salary and wages.
- Calculating compensations.
- Creating health insurance files.
- Calculating employees' retirement times.
- Insurance procedures and trademark registration.
- Providing legal advice.
- Sending monthly reports and data
The financial consultant in Turkey is also responsible for preparing and sending each of the following reports:
- Preparing the statement of employees' working hours and sending it to the labor office İş Kur.
- Financial report of the social security premiums.
- Submitting the company's financial reports and the financial statement of the taxes due to the Ministry of Finance, in addition to stamp tax, temporary tax, yearly import tax, corporate tax, and the value-added tax.
- and sending any other exceptional reports the nature of the company's business and its commercial activity may require.
- Preparing monthly and annual financial schedules
This includes preparing and organizing the monthly and yearly budget reports on schedule, including the company's revenues, expenses, and profits.
- Following up on paying taxes and health insurance premiums
There is also another important task of the tasks of the financial consultant in Turkey
- Calculating taxes of the company.
- Calculating health insurance premiums for the employees registered in the company.
- Collecting payments and then putting them in the office of the treasurer of the company or the organization.
- Following up on the work and correspondence with official government departments
- Registring the company or institution in the Turkish Chamber of Commerce.
- Everything related to changing the name and logo, selling and buying shares of the company, or liquidating it.
- Carrying out all transactions regarding official government departments like the Labor Office, Health Insurance, Chamber of Commerce, Elderly Benefit Fund, Notary Public, Municipality, etc....
Legal Accounting Hiring Fees
The costs of hiring a legal accountant in Turkey usually range between 300 and 500 Turkish liras per month.
Fees of the legal accountant may increase or decrease depends on the agreement between the accountant and the company's management.
It is also determined depending on the type of commercial activity of the company, its size, and amount of work the company needs, as some large companies see the need to have a full-time contract with a financial consultant to meet their growing needs of his/her services, in this case, the fees vary dramatically.
Gars Consulting Company provides all the services related to the company establishing services, legal accounting in Turkey, and all advisory services in this regard, in addition to many other services that the new companies established in Turkey need the most, and we do all of this through our professional staff, a staff expert in everything related to these legal matters and others, so, if you want to know more about financial accounting in turkey; or if you are looking for a legal accountant address, you’ve just arrived in the right place, we are one click away from you.
Edited by: Gars Consulting Company©