Your first year of accounting as a Swiss freelancer
Starting out as a freelancer or sole trader in Switzerland can feel daunting when it comes to bookkeeping. This guide walks you through everything you need to do — month by month, quarter by quarter, and at year-end — using Gäld.
This guide targets self-employed individuals and small businesses registered in Switzerland. Most obligations described here apply from the first CHF of revenue, with VAT being the main exception (threshold of CHF 100,000).
Swiss accounting obligations overview
Under the Swiss Code of Obligations (CO) Art. 957 ↗, sole traders and partnerships with revenue below CHF 500,000 may use simplified accounting (income & expense statement + balance sheet). Larger entities must use full double-entry bookkeeping.
Gäld supports both modes and defaults to the Swiss SME chart of accounts (Kontenrahmen KMU), compatible with fiduciaries and tax authorities across all cantons.
| Obligation | Threshold | Frequency |
|---|---|---|
| Income & expense accounting | All self-employed | Ongoing |
| Full double-entry bookkeeping | Revenue ≥ CHF 500,000 | Ongoing |
| VAT registration | Revenue ≥ CHF 100,000 | Registration within 30 days of crossing |
| VAT declaration | If registered | Quarterly or annually |
| Year-end closing | All | Once per fiscal year |
Monthly routine
A consistent monthly rhythm keeps your books clean and avoids year-end stress.
1. Import bank statements
Go to Banking → Import and upload your bank statement (MT940, CAMT053, or CSV). Gäld automatically matches transactions to existing invoices and expenses.
Connect your bank via the automatic sync feature (Banking → Connect Bank) to skip manual uploads entirely. (Enterprise Edition)
2. Reconcile transactions
Review unmatched transactions under Banking → Reconciliation. For each unmatched line:
- Click Match to link to an existing document
- Click Create Expense to record a new expense
- Click Create Journal Entry for bank charges or transfers
Aim to have zero unreconciled items at month-end.
3. Record expenses
Go to Expenses → New Expense for any expense not captured during bank import (cash purchases, mileage, etc.).
Always attach the receipt — Swiss tax law requires you to keep supporting documents for 10 years.
4. Issue invoices
Go to Invoices → New Invoice. Once paid, mark the invoice as Paid and select the corresponding bank transaction to close the loop.
Outstanding invoices distort your revenue and cash flow. Review Invoices → Overdue weekly and follow up promptly.
Quarterly routine
VAT declaration
If you are VAT-registered (revenue ≥ CHF 100,000), you must file a VAT declaration with the AFC/ESTV each quarter.
- Go to Reports → VAT Report
- Select the quarter
- Review the figures and export the declaration
- File online at www.estv.admin.ch
- Post the VAT settlement entry in Gäld
See the dedicated VAT Declaration guide for detailed field-by-field instructions.
Annual routine
Year-end closing
At the end of your fiscal year (typically 31 December):
- Complete all monthly reconciliations
- Record depreciation for fixed assets → see Depreciation guide
- Record social charges (AVS/LPP contributions) → see Social Charges guide
- File the final VAT declaration if applicable
- Run the Year-End Closing in Gäld (Accounting → Year-End Closing)
Follow the complete Year-End Checklist step by step.
Fiduciary export
After closing the year, generate the fiduciary export:
- Go to Accounting → Fiduciary Export
- Download the ZIP file
- Send it to your fiduciary (accountant/tax advisor)
The ZIP contains all files your fiduciary needs to prepare your tax return. See What to give your fiduciary.
Tips and common mistakes
Use a dedicated business bank account from day one. Mixing personal and business transactions creates reconciliation nightmares and raises red flags during tax audits.
Entering 12 months of transactions in January is error-prone and stressful. A monthly routine takes 1–2 hours and keeps you in control.
If you purchase services from abroad (e.g. software subscriptions from the EU), you may owe acquisition tax even if the supplier does not charge Swiss VAT. Record this under account 2202 and declare it on your VAT form.
| Common mistake | Consequence | Prevention |
|---|---|---|
| Not attaching receipts | Expenses disallowed during audit | Always attach in Gäld |
| Forgetting to post VAT settlement | Understated liability | Use the VAT Report workflow |
| Not depreciating assets | Overstated profit, wrong taxes | Set up depreciation entries annually |
| Mixing CHF and foreign currency | Incorrect balances | Use Gäld's multi-currency feature |