Kapital Network provides a wide range of accounting services including the establishment and maintenance of a well-working accounting system; booking the daily, monthly, quarterly and annual accounting transactions; preparation of the budgets, forecasts, cash flows with the participation of a dedicated Partner and a team with qualified members who are working in a well-organized cross-check mechanism.
The accounting services are detailed as below:
Initial Set-up of the accounting system and chart of accounts.
- Chart of accounts set-up
- Preparation of the budgets
- Notification to the tax authorities of the location the statutory books are kept for new clients and of any change in accounting books
- Analysis, documentation, and configuration of new company code within local accounting system including the input of opening general ledger balances as well as any open sales and purchase ledger items
- Set-up of fixed assets register
- Set-up of inventory data base
- Input of asset information, depreciation rates, acquisition costs and accumulated depreciation
Daily Accounting Transactions
- Maintenance of accounting records in accordance with the guidelines and requirements of the local commercial code and with the applicable accounting and tax legislations
- Generating and maintaining customer and supplier base data
- Recording bank payments and receipts and matching to the related invoices/documents where appropriate
- Maintaining sales and purchase ledger accounts
- Maintaining fixed assets register and accounting for all movements relating to fixed assets and inventory items including acquisitions/purchases and disposals/dispatches, as well as the calculation of profits/losses on any fixed assets disposals/sales
- Booking employee expenses and all other petty cash transactions
Monthly Accounting Transactions
- Recording any payroll related transactions
- Calculating and recording of foreign exchange differences
- Recording monthly accruals, prepayments, provisions, and other similar journal transactions
- Calculating and recording depreciation/amortization of fixed asset items in accordance with requirements of the local commercial code and with the applicable accounting and tax legislation
- Calculating the cost of the disposals/dispatches that realized during the month and the evaluation of the closing inventory for any obsolete, slow moving or nonsalable items and allowing for any obsolescence or loss of value
Annual Accounting Transactions
- Confirmation of year-end balances with customers and, upon request, suppliers
- Accounting for adjustments arising from physical verifications of inventory and fixed assets
- Recording annual accruals, prepayments, provisions, and other similar journal transactions
- Preparation of annual statutory financial statements and filing them with the tax authorities
Other Accounting Services
- Financial Statements Preparation for any governmental and independent audits
- Bank balances reconciliation
- Suppliers and customers reconciliation
- Billing out the Customers on behalf of you if it is requested
- Issuing credit / debit memos if it is requested
Contact us
Zeki Öcal, Founding and Managing Partner
Tel: 0212 213 93 93 – 200
Linkedin: in/zeki-ocal-a8208714
Ömür Nilgün Ateş, Director
Tel: 0212 213 93 93 – 122
Linkedin: in/ömür-nilgün-ateş-85599058