Balance Sheet & Income Statement: AOP Codes and Structure
AOP codes (analytical position identifiers) are standardized codes marking positions in Macedonian financial statements. Every company must use them when filing annual accounts. This guide explains the structure of Form 36 and 37 with practical examples.
Balance Sheet (Form 36)
The Balance Sheet shows the financial position of a company at a specific date — usually December 31. It consists of two parts:
ASSETS (AKTIVA)
Everything the company owns or has the right to claim.
| AOP | Name | Description |
|---|---|---|
| 001 | TOTAL ASSETS | Sum of all assets |
| 002 | Non-current assets | Fixed assets, intangible assets, long-term investments |
| 003 | Intangible assets | Patents, licenses, software, goodwill |
| 010 | Tangible assets | Land, buildings, equipment, vehicles |
| 020 | Long-term financial investments | Shares, stakes, long-term loans |
| 030 | Current assets | Inventories, receivables, cash |
| 031 | Inventories | Goods, materials, work in progress |
| 040 | Short-term receivables | Trade receivables, advances |
| 050 | Cash and cash equivalents | Cash register, bank account, foreign currency account |
LIABILITIES & EQUITY (PASIVA)
Sources of financing — owner’s equity and obligations to third parties.
| AOP | Name | Description |
|---|---|---|
| 060 | TOTAL LIABILITIES & EQUITY | Sum of equity + liabilities (= ASSETS) |
| 061 | Equity and reserves | Share capital, retained earnings, reserves |
| 062 | Share capital | Registered capital of the company |
| 070 | Retained earnings | Accumulated profit from prior years |
| 075 | Long-term liabilities | Loans > 1 year, bonds |
| 085 | Short-term liabilities | Suppliers, salaries, taxes, loans < 1 year |
| 090 | Trade payables | Unpaid invoices |
| 100 | Tax and contribution liabilities | VAT, corporate income tax, contributions |
RULE: ASSETS (AOP 001) = LIABILITIES & EQUITY (AOP 060). If they don’t match, the balance sheet is unbalanced and will be rejected.
Income Statement (Form 37)
The Income Statement shows revenues and expenses for the year. The final result is profit or loss.
I. Operating revenues
| AOP | Name | Description |
|---|---|---|
| 201 | Sales revenue | Invoiced sales of goods and services |
| 210 | Other revenues | Subsidies, rent income, recovered write-offs |
| 220 | Financial revenues | Interest, exchange rate gains (+) |
| 246 | TOTAL REVENUES | Sum of all revenues |
II. Operating expenses
| AOP | Name | Description |
|---|---|---|
| 251 | Cost of goods sold | Cost of merchandise sold |
| 260 | Employee expenses | Gross salaries, contributions, benefits |
| 270 | Depreciation | Wear and tear of fixed assets |
| 275 | Other expenses | Rent, telephone, accounting services |
| 280 | Financial expenses | Interest, exchange rate losses (-) |
| 293 | TOTAL EXPENSES | Sum of all expenses |
III. Result
| AOP | Name | Description |
|---|---|---|
| 244 | Operating profit | Revenues > Expenses |
| 245 | Operating loss | Expenses > Revenues |
| 248 | Profit before tax | Total profit before tax |
| 250 | Corporate income tax | 10% of the tax base |
| 255 | Net profit | Final profit after tax deduction |
| 256 | Net loss | Final loss |
Trial Balance (Gross Balance)
The trial balance is a list of all accounts with columns: Debit, Credit, Debit Balance, Credit Balance. It serves as an internal control — total Debits must equal total Credits.
- Debits = Credits (must be balanced)
- If not balanced, there is an error in the bookkeeping entries
- The trial balance is not officially submitted, but it is the basis for preparing Form 36 and 37
Tax Return (DB-VP)
The tax return (DB-VP = Tax Balance on Total Revenue) is a form for calculating corporate income tax. It is submitted to the Public Revenue Office (UJP).
Profit before tax × 10% = Corporate income tax
- Tax base = Profit before tax (AOP 248)
- Rate = 10% for all companies (fixed)
- If the company has a loss (AOP 249), the tax is 0
- Advance tax is paid monthly (1/12 of previous year’s tax)
- Filing deadline: March 15 at etax.ujp.gov.mk
Facturino automatically fills AOP codes
No need to manually look up AOP codes. Facturino maps chart of accounts to the correct AOP positions in Form 36, 37, and DB-VP.
Start free