Accounting

August 10, 2023 | David Merz

Eight Reasons to Change Your Current Tax Advisor

Navigating the complex world of taxes can be a daunting task for even the most financially savvy individual or business, which is why a good tax advisor is crucial. But how do you know if your tax advisor is providing the type of quality service that you deserve? In this article, we explore eight reasons why you may want to search for a new tax advisor. We also outline some important practical considerations, as well as what to look for when selecting your new advisor.

June 27, 2023 | David Merz

How much does a tax advisor cost in Switzerland?

Many individuals and businesses alike do not have the knowledge or time needed to stay on top of their tax affairs, let alone optimise them. This is where a professional tax advisor comes in. In this article, we will explore the benefits of hiring a tax advisor and identify those who may require their services. We will also delve into the factors that influence the cost of a tax advisor in Switzerland and provide guidance on selecting the right tax advisor for your needs.

June 1, 2023 | David Merz

Electronic Archiving Guidelines in Switzerland

Electronic archiving of accounting data has grown significantly in recent years due to the increasing amount of digital information generated and the need to manage it efficiently and securely. In Switzerland, the adoption of e-invoicing has become common practice. In this article, we discuss some practical guidelines and requirements of electronic archiving in Switzerland, explore the benefits of e-invoicing compared to traditional paper invoicing, and answer some important questions related to tax implications and other factors.

May 30, 2023 | David Merz

Comparing Accounts Receivable & Accounts Payable: A Swiss Perspective

In this article, we will explore and compare the concepts of accounts receivable and accounts payable. These two accounting components are at the heart of every successful business and are crucial for managing your liquidity and building successful long-term business relationships.

April 30, 2023 | David Merz

Assets & Liabilities in the Balance Sheet: A Look at Swiss Accounting Practice

Accounting is a crucial aspect of financial reporting and corporate governance. It enables companies, investors, and stakeholders to evaluate a company’s financial stability, performance, as well as its asset and capital structure. In this blog post, we will focus on the basics of accounting in Switzerland and explain the importance of assets and liabilities and their impact on a company’s financial position.

April 30, 2023 | David Merz

Income Statement for a Sole Proprietorship

As a sole proprietor operating in Switzerland, you may wonder whether it is necessary to prepare an income statement. While you may not be obliged to maintain detailed accounts, it is still essential to have a clear understanding of your business's financial health and to keep accurate records of income for tax purposes. An income statement will help you fulfil both these needs. In this article, we will explore the importance of an income statement for a sole proprietorship and the different methods of producing and presenting them.

April 29, 2023 | David Merz

Depreciation Methods in Switzerland

As your businesses acquires assets, it is essential to understand the concept of depreciation and how to record it. Depreciation is a means of accounting for the decrease in the value of assets over time due to usage, wear and tear, obsolescence, etc. In this article, we will explore the various depreciation methods used in Switzerland, why depreciation is important, the types of depreciation, methods for calculating depreciation, and how to record depreciation.

April 28, 2023 | David Merz

Double-Entry Accounting Simply Explained

Proper accounting is an essential aspect of running a company effectively. Most businesses are required to follow the principles of double-entry accounting while preparing their accounts. Double-entry accounting is a fundamental concept in modern accounting practices. It is a system of accounting in which every financial transaction is recorded in two different accounts, a debit account and a credit account. This article provides a simple explanation of double-entry accounting in Switzerland.

April 12, 2023 | David Merz

Accounting for vouchers: how should Swiss companies handle VAT and bookkeeping?

Vouchers can be used to reward customers or as giveaways for marketing purposes. It is important for companies who regularly use vouchers to understand their correct accounting and VAT treatment, as well as the legal validity and expiry of vouchers. This guide explains the distinction between value and service vouchers, their VAT treatment, limitation periods under Swiss law, and the financial impact of unredeemed vouchers.

Independence Statement: Nexova AG is an independent private fiduciary firm. We are not a government agency or authority, and we are not affiliated with any government department or official register. All official acts, registrations, and approvals are carried out solely by the competent Swiss authorities and notaries.

Read our full Independence Statement

Book a call

Blog

Would you like a fiduciary consultation? Let us work together.