Do I need a fiduciary for the annual financial statement?

Not necessarily. With cash-basis accounting and under CHF 500,000 in revenue, you can prepare the closing yourself. However, a fiduciary can save taxes through optimizations you might miss — the cost often pays for itself.

What if I made a loss?

Losses from self-employment can be offset against other income (e.g., employment income of a spouse) for up to 7 years. The tax office will apply this automatically — just make sure the loss is correctly calculated and documented.

Annual financial statements for sole proprietorships: step by step

The annual financial statement for your Swiss sole proprietorship — which steps are required, which documents you need, and how to prepare them without a fiduciary.

2 min read

What a sole proprietorship must submit

As a sole proprietor, you don't need to file formal financial statements with a balance sheet and income statement (unless your revenue exceeds CHF 500,000). What you do need is a clean summary of your income and expenses — the basis for your tax return.

Step 1: Reconcile all accounts

Compare your recorded income and expenses with your bank statements. Every transaction should appear in your books. Missing entries are the most common cause of discrepancies — and tax offices notice them.

Step 2: Accruals and deferrals

Invoice issued in December 2026, client pays in January 2027? The income belongs to 2026. Expense incurred in 2026, invoice arrives in 2027? It also belongs to 2026. This principle — accrual accounting — ensures income and expenses are recorded in the correct year.

Step 3: Depreciation

Calculate depreciation for all your business assets. A laptop worth CHF 3,000 depreciated over 3 years = CHF 1,000 deduction for this year. Don't forget to record this — it reduces your taxable income.

If you use something for both business and private purposes (car, phone, home office), you can only deduct the business share. Document the split clearly — the tax office will ask.

Step 5: Prepare the tax return

Transfer your income and expenses to the tax return form. Most cantons accept a simple income-expense statement as an attachment. Keep your receipts — the tax office may request them for up to 10 years.

Accurate as of: The rates and amounts mentioned in this article reflect the state as of 6 August 2026. They are for information only and do not replace tax or legal advice. For binding information, contact the Swiss Federal Tax Administration (ESTV), your cantonal tax office, or a fiduciary.

Frequently asked questions

Do I need a fiduciary for the annual financial statement?: Not necessarily. With cash-basis accounting and under CHF 500,000 in revenue, you can prepare the closing yourself. However, a fiduciary can save taxes through optimizations you might miss — the cost often pays for itself.
What if I made a loss?: Losses from self-employment can be offset against other income (e.g., employment income of a spouse) for up to 7 years. The tax office will apply this automatically — just make sure the loss is correctly calculated and documented.