Why the financial handover must be planned before the transition
In a Swiss SME, appointing an interim director or manager — due to the owner’s absence, generational transition, restructuring, or preparation for a change of ownership — can within days change who signs payments, who approves expenses, and who is accountable to banks, the FTA, and auditors. Without a structured accounting handover, monthly closes slip, delegation errors pile up, and you risk duplicate signatures or, worse, blocked payments.
The Swiss Code of Obligations requires management to keep orderly accounts and monitor the company’s financial position. During an interim period, these duties do not pause: only the individual exercising them changes. A clear handover package — up-to-date figures, aligned banking mandates, written approval rules — shortens the time the interim operates “in the dark” and protects shareholders, creditors, and employees.
This guide offers an operational checklist for entrepreneurs, interim directors, and fiduciary firms supporting SMEs in Switzerland, with reference to federal banking and tax practice and the role of accounting digitalisation.
Typical situations and accounting priorities
Not every interim assignment has the same financial urgency. Matching handover depth to context avoids spending weeks on secondary details:
Sudden absence or illness
Priority: bank and e-banking access, list of urgent payments (payroll, AHV, critical suppliers), accounting software credentials, and active signature delegations. Accounts may stay with the fiduciary, but the interim must be able to authorise cash flows within 48 hours.
Document who replaces whom at each signature level and set a maximum single payment amount until the board or shareholders review.
Planned transition or M&A
Priority: interim balance sheet, reconciled account schedules, receivables and payables ageing, leasing and loan contracts, VAT status, and corporate income tax instalments. The interim must understand accounting normalisations already agreed with the auditor.
Plan a minimum accounting data room (last 24 months, budget, forecast) and a calendar of tax deadlines for the current half-year.
Accounting handover checklist
Use the table as the basis for the handover meeting between the outgoing party, interim manager, in-house accounting or fiduciary, and, where applicable, the administrative lead:
| Area | Item to hand over | Typical owner |
|---|---|---|
| Financial position | Updated trial balance, cash flow for the last 8–12 weeks, bank reconciliation as of the latest practical date | Accounting / fiduciary |
| Receivables and payables | Open item list, customer disputes, notes on pending discounts and write-offs, supplier payment schedule | Administration + management |
| Payroll | Next payroll run, holiday accruals, discretionary bonuses not yet booked, BVG/AHV mandates | HR / payroll fiduciary |
| VAT and taxes | Current VAT period, corporate and personal tax instalments where applicable, any FTA disputes, returns in progress | Tax fiduciary |
| Investments | Open orders, recent fixed assets, scheduled depreciation, guarantees and security deposits | Accounting |
| Governance | Signature regulations, spending limits by cost centre, advance and expense policies, software audit trail | Management / board |
| Audit | Audit plan, management letters, open points from the last cycle, documented waiver of ordinary audit if applicable | Auditor |
Archive every ticked item with date and signature in your ERP or a shared handover log: if a dispute arises later, traceability matters as much as the numbers.
Banking delegations, signatures, and digital access
In Switzerland, banks distinguish between account holders, authorised signatories, and e-banking users with authorisation profiles. An interim transition does not automatically transfer the outgoing manager’s powers: each institution requires a formal update, often with original forms and a copy of the new signatory’s ID. If the interim holds management or representation functions with effect vis-à-vis third parties, also check updates to commercial register entries where required by the articles of association or the Code of Obligations.
Confirm whether the company uses sole signature, joint signature (two signatories), or mixed rules (amounts above a threshold require a second signature). During the interim, avoid leaving “ghost” signatures for people no longer active: it reduces abuse risk and simplifies auditor controls.
Current and foreign currency accounts
List of IBANs, currencies, purpose (operations, payroll, VAT). Confirm transfer limits and corporate card caps.
Financing
Mortgages, leasing, personal or corporate guarantees of the outgoing manager to replace or confirm in writing with the bank.
Linked services
POS, e-commerce, direct debits (LSV/BDD), payment platforms: administrator credentials and support contacts.
Continuity of financial controls
An effective interim role does not mean suspending internal controls. On the contrary: the transition period is when segregation of duties and documented approvals matter most.
- 1.Monthly close cycle: keep fixed dates (invoice cut-off, bank import, accruals). The interim approves only after reconciliation and a variance report against budget.
- 2.Dual approval: for payments above a defined threshold (e.g. CHF 5,000–25,000 depending on sector), require a second signature from a shareholder, board member, or fiduciary.
- 3.Advances and petty cash: limit cash held by staff; reconcile tills and outstanding expense reports weekly.
- 4.Reporting to the supervisory body: even without mandatory ordinary audit, send shareholders or the board a monthly KPI pack (liquidity, EBITDA, DSO, tax deadlines).
Beware of “informal” delegations
Giving the interim shared passwords, unlimited cards, or chat approvals with no accounting trail exposes management to liability for breach of the duty of care (Art. 717 and Art. 754 CO for AGs; Art. 812 and Art. 827 CO for GmbHs). Always formalise a written mandate, term of office, and scope of decision-making authority.
Accounting software, user roles, and traceability
A platform such as Accountex centralises accounting, invoicing, and documents: during handover, review user profiles (who can post, approve, close periods, or change past entries). Create a dedicated account for the interim with permissions aligned to the mandate, instead of reusing the predecessor’s login.
Enable or verify audit logs, digital attachments for every material payment, and continuous invoice numbering rules: breaks during a management change are a red flag for the FTA and auditors. If accounting is outsourced, align fiduciary and interim on a single chart of accounts and VAT codes to avoid late reclassifications at quarter-end.
Suggested timeline: before, during, and after the transition
| Phase | Actions | Output |
|---|---|---|
| D-7 to D-1 | Complete checklist, update bank signatures, document backup, handover meeting | Signed handover dossier, delegation register |
| Day 1–5 | Test payment with interim signature, payroll check, call with auditor/fiduciary | Operational go-live protocol |
| Week 2–4 | First monthly close under interim, variance review, forecast update | Monthly report to corporate bodies |
| End of interim | Revoke delegations, rotate passwords, structured handover to incoming permanent manager | Mandate closure and audit archive |
Conclusion: continuity as a duty, not an option
Moving to interim management in a Swiss SME stress-tests accounting and administration. Precise checklists, up-to-date banking delegations, and unchanged financial controls — supported by traceable digital processes — turn a fragile period into a manageable interlude for banks, tax authorities, and staff.
Planning the financial handover ahead of time protects company assets and reputation. With integrated tools and defined roles, entrepreneurs and fiduciaries keep real-time visibility even when operational leadership changes hands.