What is the KPO ledger?

The KPO knjiga (revenue ledger — Knjiga o ostvarenom prometu, the book of realized turnover of flat-rate taxpayers) is the statutory record every paušalni preduzetnik (flat-rate entrepreneur) must keep. It is used to track turnover and the thresholds (6M / 8M).

Legal basis: the Rulebook on the form and content of the records kept by flat-rate taxpayers.

What is recorded?

The KPO records issued invoices / realized turnover — in chronological order. In practice, the flat-rate threshold is tracked based on issued invoices and the KPO ledger (not by payment date).

Each entry contains:

Sequence number (automatic, incrementing from 1 within the year)
Date
Invoice/document number
Client name
Description of the service/goods
Amount in RSD

Foreign currency income

A foreign currency invoice is entered in the KPO in RSD, converted at the NBS middle exchange rate on the invoice issue date.

Example:

An invoice for 1.000 EUR issued on 15.01. (NBS middle rate 117,20)
In the KPO: you enter 117.200 RSD dated 15.01. (the invoice issue date)

Deadlines

The KPO must be:

Kept up to date — turnover recorded without undue delay
Retained in line with the tax record-retention periods

Format

The KPO can be:

Paper — purchased and certified at the competent tax office (if kept in physical form)
Electronic — no prior certification required, provided it contains all prescribed elements (as in mojpausal.com)

Penalties

For failing to keep the KPO ledger, or keeping it improperly, the tax inspection may impose a misdemeanor fine (amounts depend on the current regulations).