Books at the Association shall be kept under operating account method. However, in the event that annual gross income exceeds the limit stipulated in Article 31 of Associations Regulation, books shall be kept according to balance sheet method starting from the following fiscal period.
In case where balance sheet method is applied, if annual gross income drops below the foregoing limit two consecutive times, operating account method may be resumed as of the following year. Books may be kept according to balance sheet method upon resolution of Board of Directors regardless of the foregoing limit. Economic Enterprises of the Association shall keep books based on the provisions of Tax Procedure Law.
Books and records of the Association shall be kept in line with procedures and principles specified in the Associations Regulation.
Books to be kept:
The following books shall be kept in the Association:
a) Books to be kept according to operating account method and principles to be applied are as follows:
1- Decision Book: Decisions of the Board of Directors shall be recorded in this book with the date and sequence number and decisions shall be undersigned by attending members.
2- Member Registration Book: Identity information of members admitted to the Association and dates of their registration and resignation shall be recorded in this book. Joining fees and annual dues of members may also be recorded in this book.
3- Document Record Book: Incoming and outgoing documents shall be recorded in this book with the date and sequence number. Originals of incoming documents and copies of outgoing documents shall be filed. Printouts of incoming and outgoing documents via e-mail shall be kept.
4- Fixtures Book: Acquisition date and method, place of use of fixtures belonging to the association or places to which they are delivered and deregistration those that have expired shall be recorded in this book.
5- Operating Account Book: Incomes received and expenditures made on behalf of the Association shall be recorded explicitly and regularly in this book.
6- Receipt Document Register: The serial and sequence numbers of certificates of receipt, names, last names and signatures of those receiving or returning such documents and dates of receipt or return shall be recorded in this book.
b) Books to be kept according to balance sheet method and principles to be applied are as follows:
1- Record books specified in subparagraphs 1, 2, 3 and 6 of paragraph (a) shall also be kept when books are kept according to balance sheet method.
2- General Journal, General Ledger and Inventory Register: Principles and recording methods for these books shall be carried out as per Tax Procedure Law and the principles of General Communiqués on Accounting System Implementation issued based on the authorization granted by this Act to the Ministry of Finance. Certification of Books: Books that must be kept by the association shall certified by Provincial Directorate of Associations or Notary Public prior to use. These books shall be used until all of their pages are full and books shall not be certified in between. However, books kept according to balance sheet method and books with form or continuous form pages must be re-certified every year in the last month of the year before the year that they shall be used.