How to Set Up Accounting for a New Swiss Company

Setting up accounting for a new Swiss company is one of those tasks that feels administrative until you get it wrong. The cost of correcting a poorly configured accounting system in year two is typically CHF 3’000–8’000 — far more than setting it up properly from the start. This guide walks through the practical steps, in the order they should happen, for a newly formed AG or GmbH.

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The Four Setup Mistakes That Cost New Companies Money

1. Starting without a dedicated bank account. Some founders route early expenses through personal accounts or a foreign parent’s account, planning to “sort out banking later.” Swiss regulators view companies without their own bank account as lacking operational substance. By the time you open the account months later, reconstructing the early transactions costs CHF 1’500–3’000.

2. Choosing the wrong Bexio plan. Bexio Starter (CHF 35/month) does not support multi-currency. A company invoicing in EUR or USD needs the Professional plan (CHF 83/month). Starting on Starter and migrating mid-year creates reconciliation work at CHF 150–180/hour.

3. Not setting up VAT codes from day one. Even if you are not yet VAT-registered, your accounting software should track input VAT from the first transaction. If you later register (retroactively or otherwise), you need these records to claim input tax credits. Without them, you forfeit the deduction.

4. Skipping the fiduciary for the first year. The first year is when chart of accounts, reporting templates, and filing routines are established. Getting these right from the start saves money every subsequent year. A fiduciary who sets up your books properly charges CHF 3’800 in year one; a fiduciary who reconstructs a messy year one charges CHF 6’000–10’000.

From practice: A fintech startup incorporated a GmbH in Zug and spent nine months doing its own bookkeeping in a spreadsheet. When the fiduciary took over for the first tax return, 340 transactions needed to be re-entered into Bexio, VAT codes assigned retroactively, and the chart of accounts rebuilt from scratch. Cost: CHF 7’200. If the fiduciary had been engaged from incorporation, year-one costs would have been approximately CHF 4’500.

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Step 1: Open a Dedicated Company Bank Account

This should happen immediately after incorporation — ideally, the capital deposit account (Kapitaleinzahlungskonto) used during formation converts to an operating account.

What you need:

• Certified copy of the articles of association (Statuten)
• Commercial register extract (Handelsregisterauszug)
• Passport copies for all directors and beneficial owners
• Proof of address for beneficial owners
• Business plan or description of planned activities
• Source of funds documentation

Timeline: Two to eight weeks, depending on the bank and the complexity of your ownership structure. Foreign-owned companies typically take longer due to enhanced KYC requirements.

Which bank: For a standard Swiss GmbH or AG, cantonal banks (Zuger Kantonalbank, Zürcher Kantonalbank) are often more pragmatic about onboarding than UBS or Credit Suisse. For detailed guidance, see our guide on corporate bank accounts in Switzerland.

Cost: Most Swiss corporate accounts have monthly fees of CHF 10–50, plus transaction fees. No significant setup cost.

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Step 2: Choose Accounting Software

For 90% of newly formed Swiss companies, the answer is Bexio. Here is why, and when the exceptions apply:

Company Profile	Recommended Software	Monthly Cost	Why
Single-currency, < 100 transactions/year	Bexio Starter	CHF 35	Lowest cost, full Swiss compliance
Multi-currency (EUR, USD, CHF)	Bexio Professional	CHF 83	Multi-currency support essential
Complex structure, 500+ transactions	Abacus	CHF 250–4’000	Enterprise-grade, handles payroll and multi-entity
Sole proprietor, minimal activity	Banana Accounting	Free–CHF 99/year	Lightweight, local, privacy-focused

Key features your software must handle:

• Swiss VAT rates (8.1%, 3.8%, 2.6%) with MWST-compliant returns
• QR-bill (QR-Rechnung) invoice generation — mandatory since 2022
• Swiss bank feed integration (pain.001 payment format)
• Kontenrahmen KMU chart of accounts

For a full comparison, see Swiss Accounting Software.

Setup time: One to two hours for Bexio (including bank connection). Half a day to a full day for Abacus.

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Step 3: Set Up the Chart of Accounts

Use the Kontenrahmen KMU — the Swiss standard chart of accounts for SMEs. Bexio and all major Swiss accounting software include this by default. The structure:

Class	Category	Examples
1	Assets	Cash, bank accounts, receivables, inventory
2	Liabilities & Equity	Payables, loans, share capital, reserves
3	Revenue	Sales, service income, other operating income
4	Cost of goods / direct costs	Materials, subcontractors, direct labour
5	Personnel expenses	Salaries, AHV/IV, BVG, UVG contributions
6	Other operating expenses	Rent, insurance, office supplies, professional fees
7	Financial income & expense	Interest, exchange gains/losses, bank charges
8	Extraordinary items	Prior-year adjustments, asset disposals

Customisation: Add sub-accounts for your specific business needs, but keep the top-level structure intact. Your fiduciary and the cantonal tax authority expect Kontenrahmen KMU numbering.

Intercompany accounts: If your Swiss company transacts with related entities (parent, siblings), create dedicated receivable/payable accounts for each counterparty from the start. This makes transfer pricing documentation and year-end reconciliation straightforward.

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Step 4: Decide In-House vs Outsourced Accounting

For most newly formed companies, outsourcing is the clear choice:

Transaction Volume	In-House Cost	Outsourced Cost	Recommendation
0 (dormant)	Not viable	CHF 1’400/year	Outsource
Up to 100/year	Part-time: ~CHF 25’000 + software	CHF 3’800/year (package)	Outsource
100–500/year	Part-time: ~CHF 35’000 + software	CHF 5’000–15’000/year	Outsource
500–800/year	Full-time: ~CHF 80’000	CHF 15’000–20’000/year	Break-even zone
800+/year	Full-time: ~CHF 80’000–130’000	CHF 20’000+/year	Consider in-house

What a fiduciary provides that in-house does not:

• Annual accounts preparation (balance sheet, P&L, notes)
• Corporate tax return preparation and filing
• VAT return preparation and filing
• Correspondence with cantonal tax authority
• Extension requests and deadline management
• Audit coordination (if applicable)

An in-house bookkeeper records transactions. Everything else still requires either a qualified accountant or a fiduciary. Budget for both if you go in-house.

For a full guide, see Bookkeeping Switzerland: Rules & Requirements.

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Step 5: Register for VAT (If Applicable)

When you must register: If worldwide taxable turnover exceeds or is expected to exceed CHF 100’000 within 12 months.

When to register voluntarily: If you incur significant input VAT (e.g., large capital expenditures, property fit-out, equipment purchases) before reaching the turnover threshold, voluntary registration allows you to claim input tax credits from day one.

How to register:

1. File Form 605.040 with the Swiss Federal Tax Administration (ESTV)
2. Choose your filing method: effective method or flat-rate method (Saldosteuersatz)
3. Choose your filing frequency: quarterly (standard) or semi-annual (if VAT liability < CHF 10’000/year)
4. Set up VAT codes in your accounting software

Timeline: Registration is typically processed within two to four weeks. The effective date can be backdated to the company’s incorporation date if requested.

For detailed guidance, see VAT Registration Switzerland.

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Step 6: Set Up Payroll (If You Have Employees)

If your company employs staff in Switzerland, several registrations are required:

Mandatory registrations:

1. AHV/IV/EO — Register with the cantonal compensation office (Ausgleichskasse). This covers old-age, disability, and maternity insurance. Employer and employee each contribute approximately 5.3%.
2. UVG — Accident insurance. Register with SUVA (for mandatory industries) or a private insurer. Employer pays non-occupational accident insurance; occupational is shared.
3. BVG — Occupational pension. Choose a pension fund (Pensionskasse) and enrol employees earning above CHF 22’050/year.
4. ALV — Unemployment insurance. 1.1% each from employer and employee on salary up to CHF 148’200.

Quellensteuer (source tax): If you employ foreign nationals without C permits, you must withhold source tax from their salary and remit it monthly to the cantonal tax authority.

Software: Swissdec-certified payroll software automates the electronic exchange of salary data with authorities. Abacus and Sage are certified. Bexio handles basic payroll through integration partners.

For full payroll rates and obligations, see Payroll Switzerland.

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Step 7: Establish a Filing Routine

A Swiss company faces deadlines throughout the year. Set these up as recurring calendar items from day one:

Monthly:

• Record all transactions in accounting software
• Reconcile bank accounts
• Submit source tax declarations (if applicable)

Quarterly:

• File VAT return (due 60 days after quarter end)
• Review accounts with fiduciary (recommended)

Annually:

• Prepare annual accounts (within 3–4 months of year-end)
• Hold AGM (within 6 months of year-end)
• File corporate tax return (deadline varies by canton, typically 30 June)
• Submit AHV/IV wage declaration (by 28 February)
• Issue salary certificates (by 31 March)

For a complete calendar with canton-specific dates, see Swiss Accounting Deadlines.

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First-Year Accounting Costs

Here is what a typical newly formed Swiss GmbH should budget for accounting in year one:

Item	Cost	Notes
Bexio subscription	CHF 420–996/year	Starter or Professional, depending on currency needs
Fiduciary setup (chart of accounts, templates, first consultation)	CHF 500–1’500	One-time, included in some packages
Ongoing bookkeeping (up to 100 transactions)	CHF 3’800/year	Package rate; overage at CHF 150/hour
Annual accounts + tax return	Included in package	Or CHF 1’500–3’000 if billed separately
VAT registration + first returns	CHF 300–600	If applicable
Payroll setup (if employees)	CHF 500–1’500	One-time; ongoing payroll separate
Total (no employees, low activity)	CHF 4’200–5’800
Total (with 1–3 employees)	CHF 6’500–10’000

Year two and beyond: Costs typically decrease 15–25% because templates, chart of accounts, and reporting routines are already established. Budget CHF 3’800–5’000 for a low-activity company without employees.

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The First-Year Timeline

When	What to Do
Day 1 (incorporation)	Request conversion of capital deposit account to operating account
Week 1	Sign up for Bexio; share login with fiduciary
Week 2	Connect bank feed to Bexio
Month 1	Set up chart of accounts; configure VAT codes
Month 1–2	Register for VAT (if applicable)
Month 1–2	Register with AHV, UVG, BVG (if employees)
Ongoing	Record transactions, reconcile bank monthly
Quarterly	File VAT returns
Month 6	Mid-year review with fiduciary (optional but recommended)
Year-end + 3 months	Prepare annual accounts
Year-end + 6 months	Hold AGM; file corporate tax return

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Frequently Asked Questions

How much does accounting cost for a new Swiss GmbH?

First-year costs for a typical GmbH with low transaction volume: CHF 4’200–5’800. This includes Bexio software (CHF 420–996/year), fiduciary setup and first-year bookkeeping (CHF 3’800 package for up to 100 transactions), and any additional hours at CHF 150–180/hour. Year two and beyond: CHF 3’800–5’000.

Do I need a Swiss fiduciary for my new company?

Not legally required, but strongly recommended for foreign-owned companies. A Swiss fiduciary handles bookkeeping, annual accounts, tax returns, VAT filings, and correspondence with cantonal authorities. Outsourcing is cheaper than in-house for companies with fewer than 500 transactions per year.

Which accounting software should I use for a new Swiss company?

Bexio is the standard recommendation for newly formed AG and GmbH structures. It handles Swiss VAT codes, QR-bill invoicing, bank feed integration, and the Kontenrahmen KMU chart of accounts. Starter plan (CHF 35/month) for single-currency companies, Professional (CHF 83/month) if you invoice in multiple currencies. See our full software comparison.

Do I need to register for VAT immediately after incorporation?

Only if you expect worldwide taxable turnover to exceed CHF 100’000 within 12 months. If turnover is uncertain, monitor it monthly and register as soon as the threshold is likely to be exceeded. Voluntary registration below the threshold is possible and sometimes advantageous for recovering input VAT on startup costs.

Can I do the bookkeeping myself for a Swiss company?

Legally yes, but practically risky. Self-prepared books almost always require significant correction at year-end. The cost of reviewing and correcting DIY bookkeeping frequently exceeds the cost of having a fiduciary maintain the books from the start. If you do keep your own books, use Bexio and ensure VAT coding is correct — this is where most self-prepared accounts fail.

What is the Kontenrahmen KMU?

The Swiss standard chart of accounts for small and medium-sized enterprises. It organises accounts into eight classes: assets, liabilities, revenue, COGS, personnel, operating expenses, financial items, and extraordinary items. All Swiss accounting software includes Kontenrahmen KMU templates by default. Your fiduciary and the cantonal tax authority expect this structure.

When must I file my first tax return after incorporating?

Your first corporate tax return covers the period from incorporation to your first financial year-end. It is due within six months of your year-end (typically 30 June for calendar-year companies). Extensions are available. The first year may be shorter or longer than 12 months depending on your incorporation date and chosen financial year.

Do I need an auditor for a newly formed Swiss company?

Most newly formed AG and GmbH structures qualify for audit opt-out — no audit required if the company has fewer than 10 full-time employees and all shareholders consent in writing. The opt-out declaration (Verzicht auf eingeschränkte Revision) is typically filed with the commercial register at incorporation.

What bank account do I need for a Swiss company?

A dedicated company bank account in the company’s legal name, separate from any personal accounts. Most Swiss banks require the formation documents, commercial register extract, and identification of beneficial owners. For foreign-owned companies, expect the account opening process to take four to eight weeks. See our corporate banking guide.

Should I align my financial year with the calendar year?

The calendar year (1 January – 31 December) is the default and simplest option for standalone Swiss companies. If your parent company uses a different financial year (e.g., 1 April – 31 March), aligning with the group simplifies consolidation. Changing the financial year after incorporation requires a formal resolution and creates a short transitional period with tax implications.

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