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Accounting and Bookkeeping

Statutory Bookkeeping and E-Ledger

Keeping the journal, general ledger and inventory book under the Tax Procedure Law and the Turkish Commercial Code, opening and closing certifications, e-ledger (e-Defter) berat deadlines and retention obligations in Türkiye.

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Overview

Every merchant (tacir) must keep commercial books and record in them its commercial transactions and the economic and financial position of its business in a clearly visible manner. (Turkish Commercial Code No. 6102, Art. 64) Merchants must also comply with the bookkeeping provisions of Tax Procedure Law No. 213. The Tax Procedure Law sets out bookkeeping obligations separately for groups such as traders, trading companies and self-employed professionals. (Tax Procedure Law No. 213, Art. 172)

For bookkeeping purposes, traders are divided into two classes: first-class traders keep books on the balance-sheet basis (bilanço esası), and second-class traders keep books on the single-entry (business account) basis (işletme hesabı esası). (Tax Procedure Law No. 213, Art. 176) All trading companies and corporate taxpayers are treated as first-class traders, except for the exceptions set out in the Law. (Tax Procedure Law No. 213, Art. 177) For this reason, limited liability companies (limited şirket) and joint stock companies (anonim şirket) keep books on the balance-sheet basis.

KEYBIZ CPAs & Advisors keeps companies’ statutory books, creates the e-ledger and berat files, and prepares the year-end inventory and closing entries. For tax returns based on the accounting records, see our Tax Return Preparation page.

Books Kept on the Balance-Sheet Basis

PurposeLegal Basis
Journal (Yevmiye Defteri)Transactions that must be recorded are entered regularly in this book in date order and as numbered entries.VUK Art. 182, 183
General Ledger (Defteri Kebir)The entries posted to the journal are distributed systematically to the accounts and totalled by account.VUK Art. 182, 184
Inventory Book (Envanter Defteri)The inventory and balance sheets at the start of business and at the end of each accounting period are entered in this book. The date at the end of the accounting period is the balance-sheet date.VUK Art. 182, 185
Taking InventoryAssets, receivables and payables on the balance-sheet date are determined precisely and in itemised form, by quantity and value. Large businesses may keep the inventory in page-numbered, signed lists; a summary of the lists is entered in the inventory book.VUK Art. 186, 188
Financial Reporting

Bookkeeping Process

  1. Collecting and Recording Documents

    Invoices, bank transactions, payrolls and other documents are collected and entered in the books through accounting vouchers.

    • Ten-day rule: Transactions are recorded within a period that does not disturb the order and clarity of the accounts; these entries may not be delayed by more than ten days.
    • Forty-five-day rule: In businesses that keep their records based on documents bearing the signature and initials of authorised persons, such as accounting vouchers, primanota and payroll sheets, entering transactions in these documents counts as entering them in the books; however, transactions may not be transferred to the main books later than 45 days.

    (Tax Procedure Law No. 213, Art. 219)

  2. Opening Certification

    Journals and inventory books kept on paper are certified in the last month before the year in which they will be used. Those starting a new business have their books certified before starting business. (Tax Procedure Law No. 213, Art. 220, 221) The Turkish Commercial Code requires opening certification of the journal, general ledger and inventory book kept on paper; for joint stock and limited liability companies, the opening certifications of the books are made by the trade registry directorates (ticaret sicili müdürlüğü) during registration with the trade registry. (Turkish Commercial Code No. 6102, Art. 64)

  3. Reconciliation and Year-End Procedures

    Bank, current account and stock records are compared; at year-end, inventory is taken, valuation is carried out and the balance sheet is prepared.

    For account checks, see our Account Reconciliations page.

  4. Closing Certification

    The closing certification of a journal kept on paper is obtained by the end of the sixth month of the following financial period; the closing certification of the board of directors’ resolution book is obtained by the end of the first month of the following financial period. (Turkish Commercial Code No. 6102, Art. 64) Where commercial books are kept electronically, no notary or trade registry directorate certification is required at the opening of these books or at the closing of the journal and the board of directors’ resolution book. (Turkish Commercial Code No. 6102, Art. 64)

  5. Retention and Presentation

    Those required to keep books retain their books and documents for five years, starting from the calendar year following the year to which they relate. (Tax Procedure Law No. 213, Art. 253) Commercial books, inventories and financial statements are retained for ten years; the period starts at the end of the calendar year in which the last entry was made or the document was created. (Turkish Commercial Code No. 6102, Art. 82) Retained books and documents are presented on request of the competent authorities and officials. (Tax Procedure Law No. 213, Art. 256)

E-Ledger Obligation and Berat Deadlines

Scope: Those required to use e-invoice (e-Fatura), companies subject to independent audit, and, from 1/1/2025, taxpayers required to keep books on the balance-sheet basis or who choose this basis must use the e-ledger (e-Defter) system. Certain associations, foundations and similar organisations without a bookkeeping obligation, cooperatives exempt from corporate tax and bankrupt taxpayers are outside this obligation. (General Communiqué on Electronic Ledgers (Elektronik Defter Genel Tebliği, Serial No. 1) 3.2.1, 3.2.6) The Administration may, by announcement, require the inventory book to be kept as an e-ledger as well; in that case the communiqué provides separate upload deadlines for the opening and closing berats. (General Communiqué on Electronic Ledgers (Serial No. 1) 3.2.6, 4.3.4)

Berat upload deadlines: E-ledger and berat (certificate of the ledger) files created for monthly periods are created, signed and uploaded to the system by the end of the 10th day (income taxpayers) or the 14th day (other taxpayers) of the fourth month following the month to which they relate. For berats for the last month of the accounting period, the deadline is the 10th or 14th day of the month following the month in which the annual income or corporate tax return is filed. By notifying in the first month of the accounting period, taxpayers may also choose to upload by advance (provisional) tax periods. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.3.4) The Administration may extend these deadlines by up to one month. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.3.6)

Opening and closing: Obtaining the berat for the first month of the accounting period replaces opening certification, and obtaining the berat for the last month replaces closing certification. Those who switch to the e-ledger during the year have the closing certification of their paper books made within one month of the switch. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.3.3, 4.3.9)

Retention: E-ledger and berat files are kept electronically and linked to each other. From 1/1/2020, a copy of these files is also kept for at least ten years with an authorised private integrator or in the Administration’s systems. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.4.1)

Frequently Asked Questions

On Which Basis Do Limited Liability and Joint Stock Companies Keep Books?

All trading companies are treated as first-class traders and keep books on the balance-sheet basis. (Tax Procedure Law No. 213, Art. 176, 177) On the balance-sheet basis, a journal, general ledger and inventory book are kept. (Tax Procedure Law No. 213, Art. 182)

Is Our Company Required to Keep an E-Ledger?

From 1/1/2025, taxpayers required to keep books on the balance-sheet basis must use the e-ledger system. Those required to use e-invoice and companies subject to independent audit are also in scope. (General Communiqué on Electronic Ledgers (Serial No. 1) 3.2.1, 3.2.6)

How Soon Must Entries Be Recorded in the Books?

Recording transactions in the books may not be delayed by more than ten days. In businesses that keep their records based on signed documents such as accounting vouchers, primanota and payroll sheets, transactions may not be transferred to the main books later than 45 days. (Tax Procedure Law No. 213, Art. 219)

When Are E-Ledger Berats Uploaded?

With monthly uploading, berat files are uploaded by the end of the 10th (income taxpayers) or 14th (other taxpayers) day of the fourth month following the month concerned. Berats for the last month of the accounting period are uploaded by the same days of the month following the month in which the annual return is filed. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.3.4)

Is Notary Certification Required for the E-Ledger?

No. Where commercial books are kept electronically, no notary or trade registry directorate certification is required at the opening of these books or at the closing of the journal and the board of directors’ resolution book. (Turkish Commercial Code No. 6102, Art. 64) In the e-ledger, the berats for the first and last months of the accounting period replace opening and closing certification. (General Communiqué on Electronic Ledgers (Serial No. 1) 4.3.3)

How Long Must the Books Be Retained?

Under the Tax Procedure Law, books and documents are retained for five years, starting from the calendar year following the year to which they relate. (Tax Procedure Law No. 213, Art. 253) The Turkish Commercial Code provides a ten-year retention period for commercial books, inventories and financial statements. (Turkish Commercial Code No. 6102, Art. 82) Because companies that are merchants are subject to both laws, the ten-year period is taken into account.

What Happens If the Books Are Not Certified on Time?

Certification obtained within one month from the end of the statutory deadline is treated as a second-degree procedural irregularity; books certified after one month are treated as uncertified, and the first-degree irregularity provisions apply. Failure to comply with the bookkeeping provisions is also a first-degree irregularity. (Tax Procedure Law No. 213, Art. 352)

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