The paper describes the steps that were undertaken in order to start the production of a comprehensive morphological dictionary of compounds for Serbian. First, the classes of multi-word expressions were determined that were to be covered by the dictionaries. In the next step the useful sources of compounds were detected. The retrieved compounds were then classified according to their inflectional properties. The recently developed special finite state transducers were constructed for each of these classes which produce all the variants and morphological forms for the compounds of the class. Finally, the software module was developed that facilitates the production of the dictionary of compound lemmas with all the necessary information in the required format.