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Educational articles, guides and business development tips
What is a Balance Sheet and Why is it Important for Your Business?
Introduction to Balance Sheet A balance sheet is one of three key financial statements. Also known as a statement of financial position, it represents the fi...
How to Open a Business in Montenegro – Step by Step Guide
Introduction Opening a business in Montenegro is easier than ever. This guide takes you through all the steps needed to legally start your business. Step 1:...
Corporate Income Tax: Everything Business Owners Need to Know
What is Corporate Income Tax? Corporate income tax is a fiscal obligation paid by businesses on their net profit. In Montenegro, the current corporate income...
VAT Obligations and Deadlines in 2025
What is VAT? Value Added Tax (VAT) is an indirect tax applied to all products and services. The current rate in Montenegro is 19%. VAT Obligations in 2025 Im...
Bookkeeping for Entrepreneurs – Common Mistakes
Common Bookkeeping Mistakes Bookkeeping is critical for any business. Common mistakes include mixing personal and business funds, incomplete documentation, a...
Year-End Checklist – What to Submit to Your Accountant
Year-End Checklist Important documents to submit to your accountant: bank statements for all accounts, all invoices and receipts, payment proofs, inventory s...
How to Properly Calculate and Report Payroll Tax
Payroll Tax Calculation Payroll tax is a complex but important part of every employer's obligations. Salary Components Gross salary, pension contribution, un...
10 Tips for Easier Cooperation with Your Accountant
10 Tips for Better Cooperation Keep all documents. Stay organized. Communicate regularly. Use accounting software. Don't mix personal and business funds. Ask...
How to Interpret Your Company's Financial Statements
Understanding Financial Statements Financial statements are crucial for understanding the health of your business. Three Main Financial Statements Balance sh...
Budget Planning for Micro and Small Businesses
Why is Budget Important? A budget is a plan for how you will use your finances. It is the key to cost control. Regular Budget Categories Personnel costs, fac...
How to Recognize When You Need a Professional Accountant
Signs You Need an Accountant Growing business, hiring first employee, uncertainty about taxes, lack of time, complex transactions, or regular problems with t...
The Difference Between Bookkeeping and Accounting
What is the Difference? The terms bookkeeping and accounting are often used interchangeably, but they have different meanings. Bookkeeping vs Accounting Book...
How to Choose the Best Accountant for Your Company
Key Selection Criteria Experience and qualifications, reputation, communication, pricing, technology, and specialties. Process Questions How long have they b...
Which Documents Must You Keep and For How Long?
Document Retention Laws Laws require you to keep business documents for a certain period. Retention Periods 3 years: invoices, receipts, bank statements. 5 y...