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Entrance

A fundamental element of commercial life is a well-organized record-keeping system. For businesses to conduct their operations transparently and auditably, commercial transactions must be recorded. The most important tool for keeping these records is the commercial ledger.

Commercial ledgers are of great importance not only from an accounting perspective but also in resolving legal disputes. In the commercial law system, commercial ledgers can be used as evidence in courts under certain conditions .

The Turkish Commercial Code contains detailed regulations regarding the keeping, storage, and use of commercial books as evidence in courts.

This article will comprehensively discuss the legal nature of business ledgers, their evidentiary value, and how they can be used in commercial litigation.

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The Concept of Commercial Ledger

Commercial ledgers refer to accounting records kept by merchants to document their commercial activities.

Thanks to these notebooks:

• Commercial transactions can be tracked

• financial situation can be presented

• The economic activities of the business are auditable

Commercial ledgers are one of the most important record-keeping systems in commercial law.

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Bookkeeping Obligation of Merchants

According to the Turkish Commercial Code, every merchant is required to keep commercial books.

The purpose of the bookkeeping obligation is:

• recording commercial transactions

• presentation of financial situation

• The goal is to ensure the security of commercial life.

Traders who fail to fulfill this obligation may face legal and criminal penalties.

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Mandatory Commercial Books

Keeping certain accounting records is mandatory for commercial businesses.

These include, in particular:

• journal

• general ledger

• stock book

Depending on the type of company, the following books may also be kept:

• share register

• Board of Directors' Minutes Book

• General Assembly Meeting and Decision Book

These ledgers systematically record the company's activities.

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Proper Keeping of Commercial Books

For business ledgers to be used as evidence in court, they must be kept in accordance with proper procedures.

The requirements for proper bookkeeping are as follows:

• certification of the opening and closing of the ledgers

• keeping records

• the accuracy of the records

• no falsifications in the notebooks

If these conditions are not met, the evidentiary value of commercial ledgers may be lost.

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The Evidential Value of Commercial Books

According to the Turkish Commercial Code, commercial ledgers are accepted as evidence in commercial lawsuits under certain conditions

This is particularly important in disputes between traders.

The evidentiary value of commercial ledgers is demonstrated in the following way:

• A merchant's own books can be used as evidence against him

• Properly kept ledgers can constitute evidence in favor of the accused

Therefore, keeping accurate business records is of great importance.

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The Importance of Ledgers in Disputes Between Merchants

The evidentiary value of commercial ledgers becomes particularly apparent in disputes between merchants

In cases of this type:

• debt collection lawsuits

• current account disputes

• disputes arising from commercial contracts

This is often resolved by relying on business ledger records.

Courts often examine accounting records through expert analysis.

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Presentation of Commercial Books to the Counterparty

The court may request the parties to submit their business ledgers if it deems it necessary.

Failure to present the ledgers may have legal consequences.

For example:

• An assessment may be made against the party that refuses to submit the document

• The other side's claims can be accepted as true

Therefore, keeping business ledgers and presenting them to the court when necessary is important.

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Retention Period for Commercial Ledgers

According to the Turkish Commercial Code, merchants are required to keep their commercial books for a specified period.

This period is typically 10 years.

Failure to keep accounting records can result in liability under both tax and commercial law.

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Keeping Commercial Ledgers Electronically

Today, it is also possible to keep commercial ledgers electronically.

Thanks to the electronic ledger system:

• Accounting records can be stored digitally

• records become more secure

• audit processes become easier

However, electronic ledgers must also be kept in accordance with regulations.

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Supreme Court Practice Regarding the Evidential Value of Commercial Books

The evidentiary value of commercial ledgers has frequently been evaluated in Supreme Court rulings.

According to the Supreme Court:

• Properly kept ledgers constitute strong evidence

• Records consistent with the opposing party's records constitute important evidence

• Books kept improperly have no evidentiary value

Therefore, keeping proper records is of great importance in resolving commercial disputes.

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Conclusion

Commercial ledgers are one of the most important record-keeping systems in business. Regularly recording the activities of merchants is crucial for both the security of commercial operations and the resolution of legal disputes.

The Turkish Commercial Code mandates the proper keeping of commercial books and, under certain conditions, recognizes these books as evidence in courts.

Therefore, it is of great importance for traders to keep and maintain their commercial books correctly, not only from an accounting perspective but also in terms of legal responsibility.