Year-End Closing Checklist for Swiss Companies: Essential Steps to Follow

As the calendar winds down, Swiss businesses find themselves facing one of the most important tasks of the financial year—the year-end closing. Whether you run a small startup in Zurich or a well-established company in Geneva, the process of wrapping up the year can feel overwhelming.

But don’t worry! We’ve created an easy-to-follow checklist to help you tidy up your finances, stay compliant with Swiss regulations, and set yourself up for a successful new business year.

Why Is Year-End Closing Important?

Think of the year-end closing like cleaning your financial house. Just like you wouldn’t start a new year with last year’s trash lying around, a proper financial close helps you start the next year fresh—and on the right foot.

It’s not just about keeping things neat. In Switzerland, year-end closing is a legal requirement. Plus, it gives you valuable insights into how your business performed and where it can improve.

When Does the Year-End Close Happen in Switzerland?

Swiss businesses typically close their financial year at the end of December. However, depending on your company’s bylaws, you might have a different fiscal year. That said, the majority of businesses prepare their final accounts between January and March of the following year.

Your Year-End Closing Checklist

Here’s a step-by-step guide to ensure you don’t miss anything critical during the year-end closing process.

1. Organize and Review Your Financial Records

Before diving into the numbers, make sure all your documents are in order. This includes:

• Invoices issued and received
• Bank statements
• Receipts
• Expense reports
• Loan agreements

Everything should be up to date, accurate, and safely stored. Many companies find it helpful to work with a digital accounting system to keep track of everything.

2. Reconcile Bank and Cash Accounts

Next, reconcile your bank accounts with your accounting system. In simple terms, this means making sure that the balances in your books match what’s shown in your bank statements.

Also, don’t forget about petty cash or any cash transactions that may not have gone through the bank.

3. Chase Outstanding Payments

Still waiting to be paid by clients? Now is the time to send reminders and clean up your accounts receivable.

You should also review your accounts payable—what does your business still owe? Keeping these two lists in check gives you a better idea of your actual financial position.

4. Inventory Count and Valuation

If you sell physical goods, conduct a proper stocktake. Count everything and note down what’s left at year-end. This helps with:

• Calculating your cost of goods sold (COGS)
• Identifying losses due to damage or theft
• Managing supply for the new year

Remember to value your inventory correctly based on Swiss accounting standards—this affects your taxes and final profit figures.

5. Fixed Assets Review

Review your company’s assets like machines, vehicles, and office equipment. Has anything been sold, destroyed, or become obsolete? Make sure everything is recorded correctly and depreciated according to Swiss GAAP FER or IFRS rules—whichever your company follows.

6. Accruals and Provisions

Let’s say you received an invoice in January for a service done in December. That cost still belongs to the old year, right? This is where accruals come in.

You also need to create provisions for potential expenses or liabilities that aren’t final yet—like legal disputes or warranties.

If this sounds confusing, think of it as setting money aside for bills you haven’t fully opened yet.

7. Review Payroll and Employee Benefits

Double-check that all payroll expenses are properly booked. This includes salaries, bonuses, AHV/AVS (social security), pension contributions, and accident insurance.

Swiss law requires detailed documentation, so make sure all employee-related payments are correct and traceable.

8. Prepare Your Financial Statements

Once everything is in order and recorded, it’s time to prepare your final reports:

• Profit and Loss Statement (P&L)
• Balance Sheet
• Cash Flow Statement (if required)

These documents tell the story of how your business performed. More importantly, they form the basis of your tax return.

9. Tax Preparation

In Switzerland, corporations must file a tax return annually—usually within six months after the closing date. Based on your location, you’ll send this to your relevant cantonal tax office.

Work with your accountant to calculate your taxable income and ensure all deductions and allowances are claimed.

10. Hold the Annual General Meeting (AGM)

Swiss companies are legally required to hold an Annual General Meeting within six months of the year-end. During this meeting:

• Financial statements are approved
• Dividends may be declared
• The board presents key performance outcomes

Make sure to record the minutes of the meeting and file them for compliance purposes.

Bonus Tip: Keep Digital Records

While physical receipts are still accepted, Swiss tax law now allows digital archiving—as long as records are readable, unalterable, and stored securely.

So, if your office is swimming in paper, now’s a good time to digitize. Tools like Swisscom’s Docuseal or Abacus can help with compliant document storage.

Common Pitfalls to Avoid

Rushing through year-end closing often leads to mistakes. Here are some missteps you’ll want to avoid:

• Forgetting to reconcile all accounts
• Missing deadlines for tax filing or reports
• Not setting aside money for taxes or provisions
• Neglecting employee bonuses or benefit calculations

If you’re unsure, it’s always a good idea to consult with a certified fiduciary or Swiss tax advisor. They can help you remain compliant and also spot opportunities to save on taxes.

Start the New Year Right

Year-end closing may not be your favorite task—but it’s a necessary one. Getting it right sets the foundation for better decision-making, stronger compliance, and improved financial health.

Think of it this way: If your business was a boat, the year-end close is like patching leaks, checking the rudder, and refueling. You don’t want to head out into the New Year seas without making sure everything is shipshape.

So take a deep breath, start working through your checklist, and don’t hesitate to ask for help if needed.

Here’s to smooth sailing into the New Year—for you and your Swiss business!

Need Expert Help?

If managing your company’s year-end feels overwhelming, you’re not alone. Many Swiss businesses partner with accounting firms or fiduciaries to simplify the process. A professional can ensure everything’s done right—the first time.

Have questions or tips from your own year-end experience? Drop a comment below—we’d love to hear from you!

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By ensuring all your financial operations are in order before the New Year, you’re giving your business the best chance to grow, thrive, and stay compliant in Switzerland’s highly regulated market.