The accounting services in Serbia are related to certain actions and activities connected with sending reports to the highest authorities gathering, the way of booking the documentation and adjusting to the international standards. Other activities include:

  • Accounting services,
  • Payroll services,
  • Tax consulting services,
  • The implementation of accounting systems and internal acts,
  • Reporting to the management,
  • Support in cooperation with the auditors,
  • Preparation of the annual financial statement.

 

 

  • Bookkeeping services

 

This basic accounting services in Serbia consist of:

  • Preparing the accounting records following the articles of the Accounting law,
  • Gathering and bookkeeping of the business documents and control of its correctness,
  • Recording the transactions per principles and regulations of the Law on foreign exchange operations, the International accounting and financial standards and following the ERP/IFRS,
  • Arranging accounting documentation and preparation of financial reports necessary for reporting package,
  • Adjusting monthly, quarterly and yearly balances,
  • Keeping the register of fixed assets, recording stock and financial accounting.

2. Payroll services

These services consist of calculation of contributions, salaries and other fees. This includes:

  • Calculation of all compensations,
  • Monthly payroll services for employees,
  • Calculation of the income tax,
  • Recording the changes in business and personal records,
  • Calculation of taxes and contributions and submitting the tax applications,
  • Preparation of the employment contract,
  • Registering the employee after concluding the employment contract and deregistering after the termination of the contract
  • The services of employing non-residents (employment of foreign citizens, preparation of work and residence permit and calculation of their salaries).

3. Tax compliance service

Another accounting service offered in Serbia is tax advising. It is necessary to have an accounting company in Belgrade that will make optimal and adjusted solutions

These tax consulting services include:

  • Doing the services of the VAT representative,
  • The business consulting and tax advising about the tax commitments,
  • Representing and supporting on demands, objections, and decisions of Tax administration,
  • Assistance in submitting and filling the tax applications 
  • Adjusting with the local tax regulations (calculating and submitting the VAT applications, tax balance, income tax, and withholding tax),
  • Following the deadlines for paying tax commitments.

4. The implementation of accounting systems and internal acts

 It is important to choose an accounting company from Belgrade/Serbia which follows the constant changes in the EU regulation and can adjust them to domestic regulation. These services include:

  • Preparing the accounting policy following the Law and IFRS,
  • Supporting the clients in choosing and implementation with the help of unique ERP software solution,
  • Making the rulebook on accounting following the current Accounting law,
  • Making the inventory rulebook and all the accompanying documentation,
  • The implementation of the chart of accounts for companies and adjusting the cost centers.
  • Testing the adjustment of ERP with legal standards and current law regulation.

5. Preparation of monthly/quarterly management reports

 The accounting company in Serbia must offer you the service of preparation of reports to the management on the monthly, quarterly and yearly basis. These reports are important in making decisions about different plans or making the budget. This consists of:

  • Help in planning and making the budget,
  • Analysis of the current business,
  • Preparing the group reporting packages,
  • Preparing yearly and periodical reports demanded by the management and for the statutory needs,
  • Preparing the financial reports adjusted with IFRS.

 

6. Support in cooperation with the auditors

It is recommended to hire the accounting company in Serbia that are experts in cooperation with the auditors. This service includes:

  • Connecting with the external auditor,
  • Providing well-timed and correct reports,
  • The analysis and support for the auditor’s positive opinion,
  • The help with easier understanding of accounting incomes of your business,
  • The support in understanding the auditors’ recommendations and their appliance

7. Preparation of annual financial statement

The last on the list is the preparation of annual financial statement. All the companies form the double accounting system must submit this statement at the end of the business year.  The statement includes:

  • An income statement,
  • A statistical annex,
  • A balance sheet,
  • Calculation of tax balance, preparing and submitting the tax applications, filing tax forms).

Besides this, companies must submit:

  • The annual financial statement,  
  • The annotations along with financial reports
  • The report about the changes in capital,
  • The report about the cash flow
  • The report about other results,