A financial year, fully calculated

January: getting set up

On first launch, Lena enters her company details, the financial year (calendar year), and her QR-IBAN. Because she exceeded the revenue threshold in the previous year, she is now VAT-liable and chooses the net tax rate method with the rate set for her industry.

MILQ automatically sets up the categories — honoraria, rent, social insurance, and so on. She only adjusts two labels to match her preferred terms.

During the year: recording entries

Lena creates every customer invoice directly in MILQ. The PDF includes the QR payment section that her customers can scan with their e-banking. As soon as a payment arrives, she marks the invoice as paid — the income entry is created automatically with the correct date.

She records expenses once a week: amount, date, category, photo of the receipt. For software subscriptions from abroad, she ticks the box for import tax.

July and January: filing VAT

Twice a year, she creates the VAT return. MILQ calculates the gross revenue for the period using her net tax rate and fills in the Swiss Federal Tax Administration form. She transfers the figures to the portal, submits, and closes the period in MILQ — after which it is locked against subsequent changes.

December: preparing the annual closing

Before the end of the year, Lena checks two things. First, outstanding items: two invoices are still unpaid. Because she accounts on a cash-received basis, they don't belong in the old year — they only become income when the money arrives.

Second, the private use portion of her business vehicle, which she records as an annual adjustment.

The result

At year-end, her income statement looks like this: