Accounting in Switzerland has its own specifics. Since Switzerland is not a Member State of the European Union, accounting and book keeping in this country are not subject to EU International Accounting Standards and International Financial Reporting Standards. When you set up a business in Switzerland, you need a professional approach to accounting in order to raise the financial efficiency of your company and avoid many serious problems and snags.
Goldblum and Partners helps to organize accounting in a reliable, cost-effective and smooth way. We are committed to providing top-notch accounting services. Our competent and highly professional team assists clients in various issues related to everyday business needs. You will see how easy and simple accounting can be.
Organization of accounting in Switzerland
There are several accounting requirements that all companies registered with the Commercial Register of Switzerland must comply with the following rules:
- Keep accounts according to the Swiss Code of Obligations
- Make records of profits and losses and maintain inventory and balance sheets in Swiss Francs (though it is not necessary when it comes to routine bookkeeping entries)
- Produce an annual financial statement presenting an income and balance sheet in the way that makes it easy to evaluate the entity’s assets
- Conduct a full audit with internal controls verification, if two of the three criteria are met — the staff includes than 50 employees, the turnover exceeds CHF20m, the total balance sheet is in excess of CHF50m
- Conduct a limited audit, if the number of employees ranges between 10 and 50 (if the staff comprises less than 10 members, the audit is not mandatory, though it can be organized on a voluntary basis)
- Deliver a cash flow statement and a management report annually (the rule applies to larger companies)
Smaller companies and individual entrepreneurs are obliged to:
- Maintain records of all expenditure items and revenue receipts
- Keep their employees’ records up-to-date
- Provide accurate reports to tax authorities, if required
Accounting in Switzerland by Goldblum and Partners
Goldblum and Partners’ accounting professionals offer their clients a full range of support and consulting services. Here you can find a one-stop solution — Goldblum and Partners ensures that your accounting and bookkeeping are organized in the best way possible, while you can focus on your professional area and effective development of your business. Below is the list of services we offer:
- Everyday accounting (client invoices, payments to suppliers, ledger administration, cash management, etc.)
- Payroll administration services (regular salary accounting, expense reimbursement, social security statements and pension funds operations)
- Tax optimization
- Preparation of annual financial statements (in strict accordance with Swiss law, GAAP FER and IFRS)
- Financial and operational consulting
- Accounting automation
- Improvement of work-flow
Nowadays, a lot of companies recognize that spending their own staff and time resources on accounting is disadvantageous. Our clients’ experience proves that accounting and bookkeeping can be thoroughly organized once and for all, if proper outsourcing is provided. Competent support from Goldblum and Partners will help you to prevent possible mistakes and inaccuracies that may lead to financial losses.