Formal accounting regulations

In formal accounting, every business transaction must be documented by a voucher in order to comply with the regulations.

2014

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No booking may be made without a corresponding receipt. This is one of the principles of formal accounting regulations.

Accounting Regulations

Proper accounting must be carried out according to the following principles: completeness of the annual accounts, clarity and materiality of all information, caution, continuation of the business activity, consistency, and the prohibition of offsetting assets and liabilities or expenses and income.

Accounting is generally carried out in the national currency. However, it is also possible to use the most important currency for the company. In this case, however, the information must additionally be provided in the national currency. Business books and accounting documents must be kept for 10 years.

Obligation to Keep Accounts and Financial Reporting

Sole proprietorships and partnerships with a revenue of at least CHF 500,000 are subject to the obligation to keep accounts and financial reporting. The same applies to all legal entities. Only those who need to keep records over income and expenditure as well as assets must: Sole proprietorships and partnerships with a turnover of less than CHF 500,000, associations and foundations that are not required to register in the commercial register, and foundations that are exempt from the obligation to designate an audit office according to Art. 83b ZGB.

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