Simple Accounting: How to Keep Track of Your Finances

Simple accounting is a practical and efficient system designed specifically for sole proprietorships with low turnover. Learn how to keep your finances organised and why this method is ideal for small businesses.

As the owner of a sole proprietorship in Switzerland, accounting is one of the central tasks of managing your business. It not only helps you keep track of your finances, but also ensures that you comply with legal requirements. The best part: if your annual turnover is below CHF 500,000, you can rely on simplified accounting. This approach is less time-consuming and easy to implement. Here you will receive an introduction to the basics and learn how to organise your accounting efficiently.

What is simple accounting?

For sole proprietorships in Switzerland with an annual turnover of less than CHF 500,000, double-entry bookkeeping is not required. Instead, simple accounting based on an income-and-expense statement is sufficient. This means:

• Income: You record all income from your business activities.
• Expenses: Business-related expenses are carefully documented.
• Receipts: Every transaction is supported by a receipt (e.g. invoice or receipt).

Simple accounting follows the so-called cash basis principle. This means that income and expenses are only recorded when money actually changes hands.

The advantages of simple accounting

• Time savings: Compared to double-entry bookkeeping, the effort required is significantly lower.
• Cost savings: You do not need expensive accounting software or professional support.
• Clarity: Thanks to the clear structure, you always have your finances under control.

Important tips for successful implementation

• Use digital tools: Use programs such as Effizo to efficiently organise income, expenses, and receipts.
• Regular maintenance: Do not postpone your accounting tasks. Update your data weekly to maintain oversight and avoid stress.
• Receipt management: Scan or photograph receipts and store them digitally. This way, you keep all documents secure and readily accessible at any time.

With simple accounting, you have a practical tool at hand that helps you manage your sole proprietorship successfully – without unnecessary effort. Take advantage of this opportunity to make the administrative side of your business as stress-free as possible.