nadoknaditi

1. to make up for; to catch up on
   Moramo da nadoknadimo izgubljeno vreme. — We have to make up for lost time.
   Nadoknadio sam propušteni čas u subotu. — I made up the missed class on Saturday.
2. (of costs, damage) to compensate; to reimburse
   Firma će vam nadoknaditi troškove puta. — The company will reimburse your travel costs.
   Osiguranje nam je nadoknadilo štetu. — The insurance compensated us for the damage.

The person compensated is in the dative, the thing in the accusative: nadoknaditi nekome štetu; the imperfective is nadoknađivati.