Business Process Solutions (BPS)
Accounting / Finance, Tax Compliance, Reporting and Payroll Outsourcing Services
In today's technology-enabled markets, companies have to concentrate on their primary field of operation in order to reach a higher level of excellence in their business. Therefore, companies are relying on specialized organizations for the processes that might not be directly related with their main areas of interest (such as Accounting, Payroll, Human Resources, Reporting, and Legal), to increase the quality of these processes, while reducing the overhead. Today, many different companies are headed towards outsourcing services.
Business Process Solutions
- Lowers operational costs and provides review,
- Allows companies to concentrate more on their primary activities,
- Increases the quality of processes,
- Allows the company to use expert resources,
- Provides internal resource focus onto their own business on other related areas by saving significant time,
- Shortens processing time,
- Minimizes and spreads out risks,
- Adds flexibility to functionality,
- Provides a business model necessary for the application of changing fixed costs to variable costs.
Accounting / Finance
We offer a full range of accounting and financial services for growing and evolving businesses. Services include organizational, analytical, and recording services for the financial activities of a business, and the preparation of various reports covering the financial transaction lifecycle (i.e. collecting source documents, recording transactions, closing books and preparation of statutory financial statements).
Our services include:
Accounting / Bookkeeping Services
- Preparation of accounting records in accordance with the Turkish Accounting Principles.
- Review of the accounting records in compliance with tax and accounting legislation.
- Reconciliation of balance sheet items.
- BA-BS confirmation with vendors and customers and electronic declaration.
- Closing of statutory accounts monthly basis and preparation of the financial statements in accordance with Turkish Accounting Principles (balance sheet, income table, cash flow statement etc.).
- Print out of legal books, notarization of opening and closure.
- Preparation of annual activity reports to be sent to the Treasury or related Ministries.
Accounting Review and Tax Return Review Services
Review of the accounting entries and period end closing transactions in line with TR GAAP, review of periodic tax returns (Advance Tax, Corporate Tax, VAT, Withholding Tax and Stamp Tax) and reconciliation of tax returns with financial statements for companies having in-house accounting team
Accounting / Finance / Payroll Loan staff Services
Provision of full time or part time qualified accounting and finance loan staff.
Our tax compliance methodology provides businesses with an efficient way of handling their tax compliance workload and meeting deadlines. Extensive regional reach supported by local depth of knowledge and experience in tax compliance provides businesses the transparency and flexibility to address a full range of tax needs.
Our services include:
Tax Return Preparation Services
- Preparation of tax returns (VAT Withholding Tax, Advance Corporate Tax, Corporate Tax, Stamp Tax etc.) in line with tax legislation and/or electronic declaration to tax office.
- Electronic declaration of tax returns to tax office.
- Preparation of other reports required by tax offices and electronic declaration (BA-BS report, Annual TB, TP Information form, etc.).
Tax and Social Security Registration and Notification Services
- Tax and Social Security Registration of newly set up entities.
- Notification to authorities due to new set ups or address changes.
- Obtaining potential tax number for non-resident entities.
We offer management reporting services required by internal and external stakeholders. Financial statements and reporting packages are prepared under Turkish Accounting Principles as well as International Accounting Principles.
Our services include:
- Preparation of the company's financial statements in accordance with Turkish GAAP and IFRS.
- Preparation of reporting package of the entities in accordance with IFRS rules.
- Preparation of reports required by the headquarters of Turkish entities in accordance with their legislation at home country (e.g. FIN48, FAS108, IAS12 etc.).
Tax and Accounting Compliance Consultancy for the ERPs
- Advisory services with regard to ERPs to be implemented by entities in accordance with Turkish GAAP and tax legislation.
- Services offered in order to prevent double bookkeeping in Turkey and home country;
- Remote log-in to client server and complete the finance / accounting process
- Remote log-in to Deloitte server and display their financial position at any time if Deloitte ERP is used
We offer payroll outsourcing services that can reduce complex and time consuming tasks for global businesses. Services are centered on human resource administrative activities including payroll processing, benefits administration, and human resources support (annual leave approvals, electronic delivery of data and payslips). Outsourcing the administrative tasks of human resources can help businesses contain human resources costs, manage employer-related risks; reduce the administrative burden; maintain strict information confidentiality; and improve organizational effectiveness.
Our services include:
- Calculation of monthly net salary of the employees and preparation of the pay slips.
- Delivery of pay slips to the employees (via secured e-mail or sealed envelope).
- Preparation of salary breakdown in the format of banks in order to process the payment automatically.
- Preparation of payroll cost accounting entry based on the cost centers agreed, preparation of upload file to ERP system (where requested).
- Preparation of monthly payroll report specified by the clients.
- Tracking of annual leave rights, calculation of annual leave accruals.
- Calculation of severance payment accrual as per Turkish GAAP and IFRS.
- Preparation of periodic official reports and declaration to the authorities.
- Registration of newly hired and notification of employees leaving.
- Calculation of severance and notice payments (if required).
- Advice in changes of Labor, Social Security and Income Tax Law which has an effect over the payroll calculation.
- Preparation and maintenance of individual employee files.
- Registration services as well as e-declaration password obtaining for the companies or their branches for tax, SSI (Social Security Institution), and Regional Employment Directorates purposes.