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Outsourced or in-house accountant: how to make a right choice?

We are used to the idea that outsourced accounting is a good choice for small businesses with small turnovers and a small number of transactions per month. However, outsourced accounting in Turkey might be a good choice even for large companies with huge turnover. Why so?

First of all let’s mention that inn 2022, the number of companies with foreign capital in Turkey has increased to 20,135. Of course, each of these companies needs an accountant in Turkey – the one who will speak the same language with the company founders and at the same time will have a thorough understanding of accounting in Turkey.

Accounting in Turkey

Accounting in Turkey is different from accounting in other countries. To begin with, only a chartered accountant has the right to file tax reports to the tax authorities. He must be a citizen of Turkey and obtain a special license for accounting. What are the chances that such an accountant might know English and will be able to communicate directly with an English-speaking founder? That's right, the chances are very slim.

Our clients often come to us after having worked for a while with a Turkish chartered accountant. They completely lack understanding of what is actually happening with the finances and taxes of their Turkish company. Communicating with the accountant through an interpreter means that they have a lack of knowledge about their accounting and are unable to influence the decisions of the accountant regarding, for example, tax optimization in the company.

Therefore, English-speaking accountants in Turkey are literally worth their weight in gold. Clients who are desperate to find an accountant with whom they can talk the same language often come to us at TURK ADVISER.

Pros and cons of an outsourced accountant in Turkey

When you come to TURK ADVISER for accounting services in Turkey, you solve several tasks related to your company's accounting.

First of all, we have a large staff of accountants, and each company coming for our accounting support in Turkey gets a chief accountant, a chartered accountant (he files tax returns and other reporting) and an English-speaking accountant. It helps you to thoroughly understand the finances and accounting of your Turkish company.

Secondly, an outsourced accountant in Turkey can reduce the costs of your Turkish company. You do not need to introduce an additional staff unit and pay taxes for it, you just pay the cost of accounting support in Turkey. You don’t have to pay for the working hours, you pay for the actual amount of work – we individually calculate for each client the cost of our services based on the turnover of the company and the monthly number of transactions.

The cost of accounting services also includes personnel issues, communication with banks (something a Turkish accountant never does!), assistance in VAT refunds, consultations on tax optimisation and company expenses reduction. At TURK ADVISER, we have many high-qualified specialists who have a thorough understanding of Turkish legislation and the accounting system in Turkey.

It is also important that the outsourced accounting of the company includes the thorough work of several well-qualified accountants, which virtually eliminates the possibility of error and untimely submission of documentation.

What can be the disadvantages of outsourced accounting in Turkey? Probably only if you are totally used to having an accountant "on hand" all the time – though, in TURK ADVISER we can absolutely guarantee that our accountants are in touch with the clients literally every minute of the day.

So the choice is up to you – but if you come to TURK ADVISER for accounting services in Turkey – trust us, you will once call it the best decision you could male related to your Turkish company!