How to Prepare a Monthly Income and Expense Report for an Apartment Building or Complex: Cash and Accruals Example

Short answer: a monthly report answers four questions: what was there at the start of the month, what came in, what went out, and what is left at the end? Add residents' balances, a comparison with the budget and open items. Write in the heading which basis the report uses (cash or accruals); the two give different results and both are correct.

Last checked: 27 September 2026. The figures in the example show the method; they do not belong to a real property.

What does the law require?

The Turkish Condominium Law (Kat Mülkiyeti Kanunu, KMK) does not require a monthly report. However:

The manager accounts for income and expenses to the owners' assembly (kat malikleri kurulu) at the times set in the management plan, or otherwise in the first month of each calendar year. If half of the unit owners ask, whatever their land shares, the account can be requested at other times as well (KMK Art. 39).
Unless the plan sets another time, the accounts are audited every three months (Art. 41).
All expenses are entered in the book in date order and their documents are kept (Art. 36).
The approved operating budget (işletme projesi) shows the estimated income and expenses for the year (Art. 37).

A report prepared every month turns the annual account and the quarterly audit into a sum of monthly reports, and a request from half of the owners is no surprise.

Cash basis or accruals?

	Cash (payment) basis	Accruals basis
Income	Money collected during the month	The fee charged for the month, even if not yet collected
Expenses	Money paid during the month	The month's expenses, even if not yet paid
Question answered	How much money is in cash and at the bank?	Did this month's fee cover this month's expenses?

Most residents understand the cash basis intuitively. A comparison with the budget, however, only makes sense on accruals, because the operating budget estimates the month's expenses, not the day they are paid. A good monthly report shows both.

Example: September in a 24-apartment building

This building's balances at handover on 31/08 were worked out in the article on moving from Excel: bank ₺84,350.00, cash ₺2,150.00, owed by residents ₺18,600.00, owed to residents who overpaid ₺1,200.00, unpaid lift maintenance invoice ₺6,400.00. The monthly maintenance fee (aidat) is ₺2,500 per apartment, so 24 × 2,500 = ₺60,000.00.

What happened in September:

Collections ₺54,500.00 (₺50,000.00 from this month's fee, ₺4,500.00 from earlier months), bank interest ₺320.00.
Paid out: caretaker pay and social security premium ₺40,214.03 (if the premium support conditions are met; see the 2026 calculation), shared area electricity ₺4,850.00, water ₺1,230.00, cleaning supplies ₺940.00, bank charge ₺90.00 and the lift maintenance invoice left over from August ₺6,400.00.
The September lift maintenance invoice of ₺2,600.00 arrived and was unpaid at month end.

1. Cash summary (cash and bank)

	Amount
Cash + bank at start of month	₺86,500.00
+ Fee collections	₺54,500.00
+ Bank interest	₺320.00
− Expenses paid	−₺53,724.03
Cash + bank at month end	₺87,595.97

86,500 + 54,500 + 320 − 53,724.03 = 87,595.97. This figure must agree with the month-end bank statement and the cash count; if it does not, a bank reconciliation is done before the report is published.

2. The month's result (accruals basis)

Income	Amount
September fee charge	₺60,000.00
Bank interest	₺320.00
Total income	₺60,320.00

Expenses	Amount
Caretaker pay and social security	₺40,214.03
Shared area electricity	₺4,850.00
Water	₺1,230.00
Lift maintenance (September, unpaid)	₺2,600.00
Cleaning supplies	₺940.00
Bank charge	₺90.00
Total expenses	₺49,924.03

The month's result: 60,320 − 49,924.03 = ₺10,395.97 surplus. August's lift invoice is not here; it is August's expense, and paying it only affects the cash summary.

3. Residents' balances

	Amount
Net owed at start of month (debts − overpayments)	₺17,400.00
+ September charge	₺60,000.00
− Collections	−₺54,500.00
Net owed at month end	₺22,900.00

The report also states how many apartments owe for how many months. The list by apartment goes to the assembly and the auditor; the summary shared with residents contains no names. Posting debtors' names on a notice board can conflict with the principle that personal data is processed only as far as is limited and proportionate to the purpose (KVKK Art. 4).

4. Check: do the figures tie together?

Net assets = cash + bank + owed by residents − unpaid invoices.

Start of month: 86,500 + 17,400 − 6,400 = ₺97,500.00
End of month: 87,595.97 + 22,900 − 2,600 = ₺107,895.97
Increase: 107,895.97 − 97,500 = ₺10,395.97, which is the month's result on accruals.

If this does not hold, a record is missing or has been entered twice.

5. Comparison with the budget (accruals basis)

Item	Monthly budget	Actual	Difference
Staff	₺40,500.00	₺40,214.03	−₺285.97
Shared area electricity	₺4,200.00	₺4,850.00	+₺650.00 (15.5%)
Water	₺1,300.00	₺1,230.00	−₺70.00
Lift maintenance	₺2,600.00	₺2,600.00	₺0.00
Cleaning supplies	₺1,000.00	₺940.00	−₺60.00
Bank charges	₺100.00	₺90.00	−₺10.00
Total	₺49,700.00	₺49,924.03	+₺224.03

Add a one-sentence explanation for any variance over ten per cent (for example, "the shared area lights stayed on all night; the timer has been reset"). For how the budget is prepared, see the operating budget guide.

6. Open items

Unpaid invoices: September lift maintenance ₺2,600.00.
Transfers from unknown senders (if any), with amount and date.
Ongoing enforcement proceedings (icra takibi) and their latest status.

Attachments

The month-end bank statement and the reconciliation table,
The cash count record,
Documents for the expenses paid (invoices, receipts) or a list of them.

Who gets it, and when?

First week of the month: the manager completes the report; the statement arrives after the month closes.
The auditor or audit board: the full report with attachments.
Residents: a one-page summary (cash summary, the month's result, budget variances, total owed). A summary with no personal data can be shared as an announcement.

How it works in Yonevo

Yonevo's summary income and expense report is produced from the same records on an accruals or cash basis. Budget and actual amounts are compared month by month; the period balance report shows residents' balances by apartment or by block; cash and bank listings are available as PDF or Excel with your logo. Announcements are published in the portal.

Common mistakes

Not stating the basis: when cash and accruals figures are mixed, "did we have a surplus or a shortfall?" goes unanswered.
Counting earlier months' collections as this month's income: correct on a cash basis, not on accruals.
Forgetting unpaid invoices: the account looks full, but there is money owed.
A report without reconciliation: a report published with a closing balance that does not agree with the statement damages trust.
Spreading the list of debtors with names: a total and the number of apartments is enough in the summary.

Frequently asked questions

Is a monthly income and expense report compulsory? The law does not require a monthly report; there is an annual account (KMK Art. 39) and a quarterly audit (Art. 41). Half of the unit owners can ask to see the account at any time. A monthly report is how you stay ready for these.

Which basis should we use? Show both: the cash basis tells you how much money there is, and accruals tell you whether the month's fee covered the month's expenses. The budget comparison is done on accruals.

Where do fees collected for earlier months go? In the cash summary they are this month's collections. On accruals they are not this month's income; they reduce residents' balances.

Can the list of apartments that owe money be shared with residents? Share the total owed and the number of apartments rather than a named list; the list by apartment is for the assembly and the auditor. If in doubt, ask a lawyer about KVKK.

Sources (in Turkish)

Condominium Law No. 634, Art. 36, 37, 39, 41 (Art. 37 as amended by Law No. 7579)
Personal Data Protection Law No. 6698, Art. 4