CasaX Glossary
The language of building management, in plain words.
From monthly dues to land shares, from the owners' assembly to bank reconciliation: the terms you meet every day in Turkish apartment and complex management, explained with the Condominium Law and everyday practice.
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Finance and accounting
23 terms found
A
- Account statementA statement of the debts, payments and balance movements of an independent unit, or of a cash or bank account, over a given period.
- Accrual (posting charges) (Tahakkuk)Recording a debt with its amount and due date; in Turkish property management, posting dues and other expenses to the units as debts.
- Advance payment (Avans)Under Turkish condominium law (KMK), money collected in advance from unit owners by decision of the owners' assembly so that common expenses can be met on time.
B
- Balance sheetA financial statement showing an organization's assets, liabilities and equity at a specific date.
- Bank reconciliationComparing the bank balance and transactions in the management's records with the bank's account statement and explaining any differences.
- BudgetA plan of the common income and expenses expected for a period; in site management, it is the basis of the operating budget plan and of the dues amount.
C
- Cash boxThe account that tracks the cash held by the management and its inflows and outflows; together with the bank accounts, it makes up the management's funds.
- Collection (Tahsilat)The record of money received into the management's cash box or bank account against the debts charged to the units.
- Current accountTracking debit and credit transactions with a person or company in a single account; in site management, the account of each unit and each supplier.
D
- Debt agingAn analysis that groups receivables by the time elapsed since their due date (e.g. 0–30, 31–60, 61–90 and more than 90 days).
- Distribution methodThe rule that determines how a common expense is shared among the independent units: equally, by land share, m², coefficient, number of occupants and so on.
E
- Expense share (Gider payı)The share of the main property's common expenses that each unit owner must bear; regulated in Article 20 of Turkey's Condominium Ownership Law (KMK).
- Expense voucher (Gider pusulası)A document defined in Turkey's Tax Procedure Law, issued by the buyer for goods or services bought from persons who are not required to issue invoices.
F
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N
O
- Offsetting (set-off) (Mahsup)Settling mutual debts and receivables by deducting one from the other; for example, deducting an overpayment from the next dues.
- Operating ledger (İşletme defteri)The book in which all of the management's income and expenses are recorded in date order; in Turkish practice, its pages are certified by a notary.
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This content is for general information only and is not legal or financial advice. Legislation may change; consult a professional about your specific situation.
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