@Nenad P wrote:
Since I've registered as an entrepreneur in Serbia, in order to withdraw funds from Upwork,
I need to have a coverage for that funds with an invoice.
I'm not from Serbia, Nenad, but for every time segment I work using the Team App, I do issue an official receipt to my clients. I think tax classifications do matter. Are you a VAT taxpayer?
Does anyone have experience with that, how the invoice should be issued?
I am using a printer-scanner for the purpose of securing colored digital copies of the invoice and then these are organized in a particular folder before being issued to my clients via the message center.
Should it be issued to the client weekly for each payment,
like it's available for download in Transaction history on Upwork,
or it should be issued to Upwork on the total sum which is withdrawn?
I do issue invoices on a weekly basis, that is, with either an ongoing hourly or fixed-price contract. The UW service fee invoice may be downloaded from the Transaction Reports page. The amount that is reflected in my invoice is the amount that is in the Time Log sheet which is derived from the Work Diary and is consistent with the Team App records.
If it's issued for each payment, how are the fees calculated,
show the invoices be reduced for that amount?
I issue invoices per time segment and not per payment. I do not write all the deductions in the invoice. I use a matrix for this purpose. The csv file can be downloaded from this site. That's what I try to expand to include foreign exchange rates (which is given in the processed payment transcript we receive from Upwork via email), as well as both gross and net sales in my own currency.
I'm withdrawing funds via Paypal, not sure if that plays a part.
That may fall under the loss category which is as legitimate a deduction as Upwork service fees and bank charges.
Do you have plans in tallying these things out with your local tax guides?
