Invoicing Services - Creative Finance


   In practice, it often seems that invoicing is nothing but “writing receipts”. Invoicing is the creation of invoices, which represent valid accounting documents, as the consequence of a contractual relation.  In order to create an invoice, it is necessary to comply with few laws. This means that invoices need to be created in accordance with the Law on Accounting, the Law on Contracts and Torts, Companies Act, Value Added Tax Law.

For example, the Article 9 Paragraph 2 of the Law on Accounting stipulates that a valid accounting document is a written or electronic record of a business change that has taken place, which contains all the data necessary to post the change in business records in a way that its grounds, type and content in the accounting document are unequivocal. The next paragraph of the same article of the Law on Accounting stipulates that INVOICE is actually that valid accounting document.

For example, according to the Law on Contracts and Torts, a receipt is the document which closes a deal, while an invoice confirms that the job has been done. Contractual relation is the relation between two specific parties, which authorises one party (creditor) to demand a certain expenditure, action or abstention from certain performance from the other party, while the other party is obliged to complete it.

The Article 22 of the Companies Act regulates the use of business name and other data in the documents. It prescribes the data, which shall be part of business letters and other documents, including electronic documents. The Article 51 of the same law stipulates that this provision related to the business name also applies to entrepreneurs.

                  The Article 42 Paragraph 3 of the VAT Law prescribes mandatory invoice elements. If a receipt does not contain some of these elements related to the VAT shown in the receipt, the previous tax deduction right cannot be realized, i.e. VAT will be lost, which is regulated by the Article 28 Paragraph 2 Item 1 of the VAT Law.

When it comes to trade in goods, we shall be aware that the Rulebook on the Trade in Goods Records is still in effect, and that its Article 6 Paragraph 3 describe the terms bill of landing, receipt, delivery note, etc.

Based on all the above mentioned, it is clear that the invoicing process is not a simple “receipt writing”, that incorrect invoices slow down performance and collection of receivables. Because of this, the Creative Finance team is fully trained to provide to you the invoice creating service in accordance with all the laws. Monitoring the invoice creation does not only mean that you will save time, but it also means that your basic business documents will be precise, accurate and complete.

The Creative Finance team will help you avoid the most common invoicing errors:

  1. absence of invoice recording chronology
  2. entering invoice number
  3. specifying payment deadlines
  4. reference to contracts
  5. listing discounts, payment promptness, etc.

The price for 20 invoices per month is €100.


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What others said about us

The experiences of our satisfied clients speak best about us

Turkish citizen, with Estonian OU crypto currency exchange company

“My Estonian company with cryptocurrency activity is working through Serbian branch like a clockwork. Accounts opened in three different banks with E banking. Before Serbia I had problem opening bank accounts for my company.“

42-year-old Ukrainian citizen, with a holding company in Seychelles, plastics industry expert

“After years of trying to open a bank account of my Seychelles company, I have managed to revive it by forming a branch in Serbia, which once again gave me full access to banking services. Splendid!“

37-year-old businessman from Cyprus

“As the owner of a non-resident corporate account, I am very positively surprised by the speed with which a non-resident account is opened in Serbia for my company registered in Cyprus. The company is dealing with cryptocurrency trading. In less than a month, almost without any difficulty I got a bank account for my company, which is fully operational and which I use without any extra paperwork.“