Accounting is the core business of our company. It is the recording of certain business events, their analysis and control, planning their future effects as well as informing management structures about economic flows. It is considered a key pillar of financial reporting.

Within accounting, we offer several packages of services related to bookkeeping, accounting controls, accounting analysis, accounting information and accounting planning.

Depending on type of your business, the way of doing business and the scope of work, you will need certain services, and we offer the following:

• Recording of accounting transactions in business books

– Putting into accounts the bank statements on a daily basis (at the client’s request, the possibility of receiving statements from the bank to our e-mail address);

– Putting into accounts issued invoices on a daily basis;

– Putting into accounts received invoices on a two-day, weekly, fifteen-day or monthly level;

– Preparation and consolidation of accounts;

– Reconciliation of balances and management of customer and supplier analytics (especially advance analytics);

– Accounting for assets and calculation of tax and accounting depreciation;

– Cash posting.

 

• Calculation of Value Added Tax

– Preparation and submission of a monthly VAT statement;

– Preparation of appropriate payment orders;

– Advising clients on how best to reduce VAT liabilities;

– Assistance to the client in liquidity management related to VAT.

 

• Payroll

– Preparation of calculation of salaries and taxes and contributions in PDF format on a monthly basis, which, at the client’s request, may include obligations to the employee for recognized overtime hours, calculation of business trips and work fees during state and religious holidays;

– Preparation of payrolls and delivery to the e-mail addresses of employees;

– Preparation and submission of Statement on taxes and social security contributions (IOPPD Form);

– Preparation and submission of Statement on surtaxes (OPP-ND Form);

– Preparation of appropriate payment orders;

– Development of decisions on annual leave;

– Preparation and submission of reports of length of service and amounts of paid contributions to the pension fund for all employees (M-4 Form) on an annual basis;

– Preparation and submission of Annual personal income tax returns (GPPFL Form).

 

• Financial reporting

– Preparation of monthly, quarterly and annual reports in five languages in accordance with the client’s needs, relating to: Balance Sheet and Profit and Loss Statement, Statement of cash flows, Statement of capital flows, Statement of changes in fixed assets and Statement of employees and wage costs and wage compensation;

– Preparation and submission of the Corporate Income Tax Return and the annual financial statement (Balance Sheet and Profit and Loss Statement, Statistical Annex and Depreciation Calculation) in accordance with applicable regulations;

– Advising the client on how to minimize income tax liabilities.

 

• Inventory management

– Making calculations in trade and / or in production;

– Preparation of a trade book;

– Making a bar book;

– Manager training;

– Supervision.

 

• Other Services

– Preparation and submission of the Withholding Tax calculation;

– Preparation and submission of real estate tax calculation;

– Preparation and submission of reports on credit operations of borrowing and / or approval with the Central Bank of Montenegro;

– Establishment of a financial control mechanism;

– Assessment of the feasibility / cost-effectiveness of the project based on the previously defined discount rate;

– Internal audit;

– Budgeting;

– Development of business plans;

– Preparation of financial forecasts.