Accounting Dos And Don’ts
- Accounting Law
If your company has a registered office in Switzerland, you should take into account the requirements of the Swiss Code of Obligations (Art. 958ff. OR).
- Business Transactions
According to the Code of Obligations, business transactions must be recorded fully, truthfully and systematically.
- Profit Appropriation
Before paying a dividend, you should consider the legal reserve allocation.
- Verifiability
Your annual accounts must be verifiable. This applies to direct federal tax as well as various other revisions (VAT, OASI).
- Approval
The annual accounts must be approved either by the general meeting (SA) or the shareholders’ meeting (SARL).
- Depreciation
In the case of depreciation, the requirements of the Swiss Federal Tax Administration (FTA) must be observed in order not to risk any tax offsets.
- Receipts
According to the Code of Obligations, it must be possible to prove the postings by means of receipts. Note: Keep your receipts on paper or electronically!
- Relevant Currency
The accounts shall be kept either in CHF or in the currency essential to the business activity.
- Accounting Software
To comply with these accounting rules, to simplify accounting as much as possible and to save a lot of time and money, a cloud-based accounting software is recommended.
How To Keep Your Accounts:
Debit And Credit
Do not confuse debit and credit. Income is recognised on the credit side and is therefore shown as a minus item.
Accrual Basis
Do not post the business transactions in the wrong period. On principle, the business transaction is posted when it is received.
Dirty Profits
According to Swiss accounting standards, you are not allowed to post unrealised profit, but you are allowed to post unrealised losses.
Depreciation
Attention! You cannot post infinitely high depreciation. These are classified as hidden reserves and offset against the tax result.
Accountants
Do not forgo an expert opinion. Either from your environment or from a fiduciary. This allows you to optimise your financial statement for tax purposes.
What Benefits Does Accounting Bring To My Business?
Accounting is a measuring instrument. It shows the company’s financial position. Experience has shown that professional from the very beginning is crucial for the long-term survival and success of the business. This means defining and implementing procedures and processes clearly and comprehensively. Accounting that is consistently up to date gives entrepreneurs certainty and security when it comes to their finances. In addition, accounting provides decision-making support for the further development of the company.
Fiduciary – Does Cooperation Make Sense?
This is a matter of whether you are interested in the subject of accounting and how much expertise you would like to acquire. In addition, you should think about whether you have the necessary time. If you work with a fiduciary, you can share the accounting tasks. You can do the ongoing accounting yourself and in return accept a fiduciary’s help with annual accounts and tax returns. This way, any queries and discussions with the authorities can be minimised or even avoided. In our fiduciary directory you will find a selection of certified Atlanto fiduciaries who know all about Atlanto and are always available to help you with any questions or uncertainties. This directory is constantly updated. So there are always new fiduciaries who want to work with Atlanto. You can also book a set-up service with Atlanto. If you would like to switch from another system to Atlanto, your fiduciary will be happy to help you.
Which Accounting Software Should I Choose?
Modern accounting softwares must be able to do the following: Prepare accounting and invoices, dunning runs, offers and payroll. With Atlanto, it is all possible! There is a lot of expertise in our core module “Sales and Accounting“. It is uncomplicated, ensures smooth use and allows more time for the essentials. This module is a comprehensive package for all your needs and consists of many helpful areas and functions such as the creation of offers and QR invoices, financial accounting, connection to e-banking and a product overview. You can also carry out automatic synchronisations of bank transactions and process your debtors effectively and flawlessly. Atlanto has a clever dunning system at your disposal. Invite your fiduciary to work with you on Atlanto in a few clicks, and with our mobile app you can make sure your receipts do not get lost.
