Doing your own accounting in Switzerland: Is it really possible?

Doing your own bookkeeping - do you really need a trustee?

Many self-employed people and managing directors of small limited companies in Switzerland think to themselves: ‘Why pay for bookkeeping when I could do it myself?’

Sounds like a cool money-saving trick, doesn't it? But the reality can be tough.

Doing your own bookkeeping involves time, rules and deadlines - not ideal if you actually want to focus on your business. And then there's the issue of taxes... When is it really worth getting a professional on board? Or can you really do the bookkeeping for a limited liability company in Switzerland yourself and save yourself the hassle of a trustee?

Doing your own bookkeeping or using a tax advisor - which way is right for you?

Do your own bookkeeping:

• You save the costs of a tax consultant and have full control over your finances.
  

• You get to know your company's income and expenditure in detail and gain a deeper understanding of your business.
  

• Ideal for small businesses and self-employed people with manageable finances.
  

Work with a tax advisor:

• A professional brings valuable experience and expertise to the table, saving you time and nerves.

• The tax advisor knows all the relevant deadlines, tax deductions and legal requirements in Switzerland.
  

• This is particularly helpful if the company is growing and you want to focus more on your core business.
  

Both options have their advantages - choose the path that best suits your goals and working style.

Tips for bookkeeping for your limited liability company in Switzerland

If you decide to do the bookkeeping yourself, here are a few basic steps you can follow:

1. Separate personal and business finances. Avoid mixing things up to keep an overview and ensure clean reporting.
   

1. Use accounting software. Tools like Numarics offer automation and easy invoicing.
   

1. Set reminders for deadlines. Reminders and tax deadlines - a simple calendar reminder system can save stress.
   

1. Find out about deductions and tax optimisation. Do it like the pros: know all the possible tax deductions you can claim.
   

When is it worth hiring a trustee?

Doing your own bookkeeping has its limits. A trustee can optimise taxes, save you time and stress, and often knows tricks that you don't know.

Ask yourself:

• How much time do I invest in bookkeeping each month?
  

• Could I use this time for customer acquisition?
  

• Am I up to date with the latest tax regulations in Switzerland?
  

Conclusion - do the bookkeeping yourself or outsource it?

If you are just starting out and want to save resources, it may well be worth doing the bookkeeping yourself. This gives you full control and allows you to get to know your business from the ground up.

On the other hand, if you want to focus more on your core business, a trustee can help you keep your bookkeeping stress-free and efficient - which is just as valuable. Both ways have their advantages - it's simply a question of which suits you and your business better.