Accounting and auditing: Everything you need to know about finances and controlling
Clear accounting is a prerequisite for the success of any business. Those who practice meticulous accounting for inflows and outflows keep a firm hand on their company’s financial situation.
Sole proprietorships with turnover of less than CHF 500,000 must, at the very least, practice simplified accounting, showing income, expenditure and assets. In theory, it is enough to retain and file all receipts and supporting documents, should the company be required to produce these documents during an audit.
For a commercial company, this is not enough. Lack of financial control is a major cause of failure. In any company, finances should be one of the manager’s priority even if there is an in-house accountant or fiduciary in charge of this work.
Company founders and entrepreneurs need to at least have basic accounting and finance knowledge. This enables them to use accounts to present their company’s financial position, an essential prerequisite for obtaining a bank loan.
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Electronic bookkeeping
Accounting records must comply with the Code of Obligations.
Introduction of the QR-bill: How SMEs brace themselves
Since 30 June 2020, it is possible to come across the new QR-bills instead of the usual payment slips. All invoice recipients in Switzerland have adjusted their software and hardware in a timely manner to prepare themselves for processing and paying QR-bills.
Benefits of Swissdec-certified accounting
Companies carrying out payroll accounting must regularly submit wage information, particularly for social security purposes. The use of software certified by Swissdec makes it possible to transfer this data to the competent agencies in a single click.
Client insolvency: What to do if there is a risk of non-payment
How can losses on accounts receivable be integrated into your accounting? There is a distinction between definite losses and unconfirmed losses. Here is an explanation.
Financial planning
Budget, liquidity and Investment planning is crucial to ensuring the longevity of a company.
Fixed and variable costs: Business calculation and variable cost margin
The relationship between fixed and variable costs determines whether a company is viable. Here is an explanation and some advice.
Annual financial statements
As a general rule, companies must designate a licensed auditor to check their annual financial statements. To know how a company is performing, it is essential to draw up a periodic statement of income and expenses.
Compulsory accounting
The Swiss Code of Obligations fixes the regulations on proper accounting. This is based on an inventory, a full balance sheet, and a profit and loss statement.