Year-end closing step by step
Year-end closing marks the official end of your fiscal year and locks the accounts so that no further changes can be made to that period. Follow this checklist in order — each step depends on the previous ones being complete.
Start the year-end process after 31 December (or the last day of your fiscal year) and aim to complete it before 31 March so your fiduciary has time to prepare your tax return.
Pre-closing checks
✅ 1. All bank statements reconciled
Go to Banking → Reconciliation and confirm there are zero unreconciled transactions for the year.
- If items remain, match or post them before proceeding
- Bank fees, interest, and charges must all have corresponding journal entries
✅ 2. Outstanding invoices reviewed
Go to Invoices → Overdue:
- Chase overdue invoices where possible
- For invoices unlikely to be collected, create a bad debt provision:
Date: 2025-12-31
Description: Bad debt provision — Invoice INV-2025-042
Debit 6900 Bad Debt Expense CHF 1,200.00
Credit 1109 Allowance for Doubtful Accts CHF 1,200.00
✅ 3. Accruals and prepayments
Record any revenues or expenses that belong to this year but haven't been invoiced/paid yet:
| Type | Example | Entry |
|---|---|---|
| Accrued revenue | Work done in Dec, invoiced in Jan | Debit 1105 (Accrued Revenue) / Credit 3000 (Revenue) |
| Accrued expense | Dec utilities bill arrives in Jan | Debit 6xxx (Expense) / Credit 2050 (Accrued Liabilities) |
| Prepaid expense | Insurance paid Jan–Jan covering 6 months of next year | Debit 1300 (Prepaid Expenses) / Credit 6xxx (Expense) |
✅ 4. Depreciation entries
Post depreciation for all fixed assets:
- Go to Assets → Post Depreciation
- Select the fiscal year
- Click Post All
- Review the generated journal entries
For detailed rates and methods, see Swiss Depreciation Rules.
✅ 5. VAT final declaration
If you are VAT-registered and file quarterly, your Q4 declaration covers October–December:
- Go to Reports → VAT Report → Q4
- Review and export
- File at www.estv.admin.ch (deadline: 28 February)
- Post the settlement entry in Gäld
If you file annually, follow the full annual declaration process.
See VAT Declaration step by step for full instructions.
✅ 6. Social charges accrual
Accrue the estimated final AVS adjustment:
Date: 2025-12-31
Description: Accrual — AVS/AI/APG year-end estimate
Debit 5700 Social Charges CHF 500.00
Credit 2050 Accrued Social Charges CHF 500.00
See AVS/LPP for independent workers for calculation details.
If you want to deduct Pillar 3a contributions for this tax year, the payment must be made by 31 December. Maximum 2025: CHF 7,258 (with LPP) or CHF 36,288 (without LPP). Current limits are published by the BSV/OFAS.
✅ 7. Year-end closing in Gäld
Once all the above checks are complete:
- Go to Accounting → Year-End Closing
- Select the fiscal year to close
- Review the summary screen — Gäld shows any outstanding warnings
- Enter the closing entry destination account (typically 2970 — Retained Earnings)
- Click Close Year
Gäld will:
- Post the closing entry (transfer net profit/loss to equity)
- Lock the fiscal year (no further entries allowed)
- Open the next fiscal year with the correct opening balances
Year-end closing locks the period. To reopen, contact support. Always ensure all pre-closing checks are done before clicking Close Year.
✅ 8. Fiduciary export
After closing:
- Go to Accounting → Fiduciary Export
- Select the closed fiscal year
- Click Generate ZIP then Download
- Send the ZIP (or share link) to your fiduciary
The ZIP contains everything your accountant needs. See What to give your fiduciary for the full file list.
Summary checklist
| Step | Description | Status |
|---|---|---|
| 1 | All bank transactions reconciled | ⬜ |
| 2 | Outstanding invoices reviewed / bad debt provisioned | ⬜ |
| 3 | Accruals and prepayments recorded | ⬜ |
| 4 | Depreciation posted | ⬜ |
| 5 | Final VAT declaration filed and posted | ⬜ |
| 6 | Social charges accrued | ⬜ |
| 7 | Year-end closing run in Gäld | ⬜ |
| 8 | Fiduciary export sent | ⬜ |