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Regardless of their structure or size, most economic transactions in businesses cause a movement of value. These transactions, which can also be characterized as financial transactions, directly affect the formation of assets and resources of businesses. Accounting science deals with the field of recording economic transactions and making stakeholders think about and make decisions based on their results. From a business perspective, accounting is a unit that stores, groups, summarizes, and reports events that occur within a business during a specific period and can be expressed in monetary units.
Financial accounting is concerned with recording business processes within the organization. Businesses use this information to create various financial statements to meet reporting requirements determined by laws or regulations. Management accounting deals with internal dynamics to provide information for effective management of different business processes within the organization. Just like financial accounting, the management accounting system stores information that emerges during business processes to report, but the focus of these reports is on costs and revenues that contain necessary information to achieve basic business objectives such as increasing revenues, reducing costs, and ensuring proper decision-making mechanisms. In this case, management accounting emerges as an accounting discipline that assists management at every stage of the management process expressed as planning, organizing, executing, and controlling business operations.
Management reporting is a discretionary reporting system because it is not mandatory like financial reporting and is an element of the internal reporting system. Management reports, which are a critical element in the organization's internal control structure, direct the manager's attention to problems at the right time, and this facilitates the business's achievement of its goals. The information presented in management reports entirely covers the planning and controlling of business activities. The discretionary nature of reports is the most important difference that distinguishes the management reporting system from the financial reporting system, and therefore management reports are prepared entirely for internal dynamics. Management reports can be textual, numerical, or graphical in nature. Regardless of their format, the most important feature that all reports should have is containing accurate information. For this reason, management reports are examined in two main categories: programmed reports and special situation reports.
Programmed, or general purpose reports, are reports that provide information aimed at solving users' problems. These types of reports are examined in two classes: scheduled reports and reports prepared on demand. Scheduled reports are reports prepared within a predetermined time frame of the management reporting system. Periodic sales listings, weekly wage reports, Z reports, or annual financial statements are examples of these reports. The preparation process of reports prepared on demand is triggered by events within business activities and created as a result of these events. Examples of these reports include warning reports sent by the system to the purchasing department for stocks falling below the reorder point or reports showing the relevant manager that there is a problem.
Business managers may not know what information they will need and when. Upper and middle-level managers frequently encounter this situation. In business life, problems may arise that require new data in a short time, and often there is not even time to prepare computer programs to produce this data. Reports created in response to a marketing manager's need to determine the best target market for a new product in the existing customer base fall into the special purpose reports category.
Especially the Z report, which retail businesses are required to use, is a report printed daily from POS machines that shows the business's total sales figures for the active day, VAT amounts to be paid, and how sales were obtained. The Z Report has similar features to a retail sales receipt. This document is of great importance in terms of accounting and tax laws. In the old days when POS devices did not exist, Z Reports were printed through cash registers as daily sales outputs and delivered to the accounting department. The company's Certified Public Accountant would regularly receive the Z Report and X Report from the taxpayer and keep them in the business's commercial records. Since the Z Report contains the business's daily sales, it is important that the Z Report sequence numbers follow each other consecutively.
On the other hand, the Z report is also used by shareholders and investors to understand the company's financial status and performance. Additionally, banks and other financial institutions may also review the Z report to assess the company's creditworthiness. For managers, using a Z report helps analyze past performance and determine future strategies. The Z report, which is also necessary for legal reasons, is of vital importance and helps provide accurate and reliable financial information.
Many providers and manufacturers nowadays provide POS machines to businesses. Each device's content and report sections differ from one another. However, generally to generate a daily Z report; reports, Z reports, daily Z, and approval steps are followed. By following these steps sequentially, you can easily print the daily Z report. Thanks to advanced technologies, POS machines now have artificial intelligence. With this AI, you can set a daily time in the settings section and have the POS device automatically generate a Z report.
By following this method, you won't forget to generate the daily Z Report. If the sales of retail traders do not exceed the 2,000.00 TL / 5,000.00 TL limit, they can continue their businesses without needing to issue invoices through the portal provided by the Revenue Administration. The report should be generated every evening at the end of the shift. This also applies to businesses that operate in 3 shifts or must remain open continuously. These businesses can set an automatic command at 11:59 PM to generate Z reports regularly every day. If this report is not generated, certain procedures are applied according to Article 8 of Law No. 3100. Of course, for this penalty situation to occur, tax officials must conduct some inspections. In some periods, Z reports may not be generated.
For example, a business does not need to generate a Z Report when it is not operating. That is, if the balance is zero, there is no need to generate a report. Following the date sequence is not very important. The point to note here is that the Z Report sequence numbers must follow each other consecutively. For example, a business that does not operate on Sunday cannot generate a Z Report that day, so it needs to report on Saturday. In this case, no penalty is applied. However, since POS devices are generally configured to report at certain times, even if the balances are zero, the device can automatically generate reports.
The Z report is very important for businesses to organize and track their financial performance. Businesses may need Z reports from previous years, for example, for tax returns or to share certain reports with investors. Therefore, businesses should keep their financial records and be able to retrieve retrospective reports when needed. Regular tracking of business financial records is important for financial analysis and planning, and this is an important point for businesses to be successful. To retrieve retrospective Z reports; Reports, EKÜ reports, Z No Z reports, first Z number, and last Z number steps should be followed sequentially.
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