Industries
Associations and donation-funded organizations
Accounting for associations and foundations, from earmarked spending of donations to APR reports.
Biro Vision provides specialized accounting for non-profit organizations, associations and foundations funded by donations, grants and membership fees. We understand that your statutory (non-profit) activity and any activity on the market must be clearly separated, so we keep distinct records by source of funds and by individual project, so you can always prove earmarked spending to the donor. We track every donation and grant from inflow to use, prepare financial and narrative reports for donors, and make sure corporate income tax is determined correctly, since a non-profit becomes a taxpayer only when it earns income on the market, and the exemption applies only if the statutory condition on the amount of surplus of revenue over expenses and the other conditions are met. With us, projects, donations and membership fees are properly booked, and the annual financial statements are filed with the Business Registers Agency (APR) on time.
What you need to get started
- 01 APR registration: founding and entering an association in the Register of Associations, or a foundation in the Register of Foundations and Endowments at the Business Registers Agency (APR), with statute, objectives and a primary activity code.
- 02 Tax number and accounts: obtaining a tax ID (PIB) from the Tax Administration and opening a business account (and, where needed, a dedicated earmarked or foreign-currency account) for receiving domestic and foreign donations and grants.
- 03 Separating activities: clearly separating statutory (non-profit) activity from income earned on the market from the outset, since an organization that earns income by selling goods and services becomes a corporate income tax payer and, once turnover passes the RSD 8,000,000 threshold over a 12-month period, an obligor for VAT registration as well.
- 04 Internal rules and records: adopting an accounting policy, cash-handling rules and internal rules for tracking projects and donations, while keeping records by source of funds and intended use from day one.
- 05 Fiscalization where required: membership fees and donations are not subject to fiscalization, but if the organization charges goods or services to natural persons (retail trade), it must issue fiscal receipts, so we check on time whether such an obligation applies to you.
- 06 Donors and contracts: proper donation and grant agreements with a defined purpose, budget and reporting obligation, plus registration of engaged persons (employees, service contracts, volunteers) in line with regulations.
Services we provide
- Keeping separate records by source of funds (donations, grants, membership fees, income earned on the market) and by individual project, for accurate tracking of earmarked spending.
- Tracking donations and grants from inflow to use, checking that each cost matches the agreed purpose and the project budget.
- Preparing financial and narrative reports for donors in their formats and to their deadlines, reconciled with the accounting records.
- Determining corporate income tax payer status and preparing the tax balance and return when the organization earns income on the market, checking the conditions for the tax exemption and correctly allocating shared costs.
- Maintaining VAT records and preparing VAT returns when the organization carries out taxable turnover, with proportional input VAT deduction where both exempt and taxable turnover exist.
- Payroll for employees, fees under service contracts and the cost of engaging volunteers and project associates, with correct tax and contribution treatment.
- Preparing annual financial statements and filing them with the Business Registers Agency (APR), together with the accompanying tax documentation.
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