Why monthly close is not «just accounting»
In a Swiss SME, monthly management closing is not the same as annual statutory closing under art. 958 et seq. CO, but it is when invoices, receipts, payroll costs and VAT position must be aligned enough to guide decisions on liquidity, investment and tax deadlines. When the owner, back office and trust firm do not know who does what and by when, numbers arrive late, adjustments pile up and internal reporting loses credibility.
The RACI matrix (Responsible, Accountable, Consulted, Informed) is not bureaucratic box-ticking: in settings with few FTE and partly outsourced accounting, it defines the critical path from operational recording to a trial balance «frozen» for the month. Accountex supports this flow by centralising documents, deadlines and approval states, but organisational clarity remains a prerequisite.
This guide offers an operational model adaptable to LLCs (Sàrl), corporations (SA) and sole proprietorships with full or simplified accounting, with indicative deadlines and watchpoints for quarterly or semi-annual VAT and compliance with recognised accounting principles (Swiss GAAP FER / CO provisions).
RACI matrix: who does what in monthly close
The table below illustrates a typical split of responsibilities. «Accountable» means who is answerable for the final outcome of the step; one person or role per activity avoids ambiguity between owner and fiduciary.
| Activity | Owner / management | Back office | Fiduciary |
|---|---|---|---|
| Document collection (invoices, bank statements, expense reports) | I — sets policy | R / A | C |
| Monthly bookkeeping entries | I | R (if in-house) or C | R / A (if outsourced) |
| Bank and payment-method reconciliation | C (exceptions > threshold) | R | A |
| Sales/purchase invoice cut-off and accruals | C | R | A |
| VAT check (codes, rates, acquisition tax) | I | R (operational data) | A |
| Approval of adjustments and reversals | A (above threshold) | R (proposal) | C |
| Management report (liquidity, margins, ageing schedule) | A / I (recipient) | R (extraction) | C (consistency with financial statements) |
| Month freeze (lock period) | A | I | R (technical) |
Legend: R = Responsible (execution), A = Accountable (decision and outcome), C = Consulted, I = Informed. Adjust cells if accounting is fully in-house or fully with a trust firm.
Three players, three distinct mandates
Confusing «who records» with «who decides» is the most common cause of delays. Here is how to delineate tasks in practice:
Owner and management
Validates assumptions that affect the numbers: exceptional provisions, confirmations on doubtful receivables, approval of non-recurring expenses and definition of materiality thresholds for adjustments without further sign-off.
Does not need to upload every receipt, but should receive within a few days of the lock a concise pack: cash, receivables/payables from customers and suppliers, performance vs budget and alerts on VAT or social contribution deadlines for the quarter.
Back office
Ensures completeness and timeliness of operational data: issued and recorded invoicing, bank statement imports, payment matching, chasing missing documents from the team and suppliers.
Maintains a log of open exceptions (invoices without PO, incomplete expense reports) and clears those items by the agreed deadline, before the fiduciary locks the period.
Fiduciary
Ensures accounting and tax correctness: chart of accounts, accruals and deferrals, fixed assets, VAT consistency with the method declared to the FTA and preparation of the periodic VAT return, if in scope.
Communicates in writing what is needed and when (monthly checklist), performs the lock in the accounting software or in Accountex and documents post-close adjustments with traceability for possible audit or review.
Sample calendar: internal deadlines vs Swiss obligations
Align the internal calendar with tax and social security deadlines for the quarter. Statutory VAT dates depend on the settlement method agreed with the FTA; those below are an example internal rhythm for quarterly VAT filers.
| Timing | Action | Primary owner |
|---|---|---|
| Business days 1–2 of the following month | Operational cut-off: last movements of the prior month recorded or in a documented queue | Back office |
| By the 5th business day | Complete bank statements, preliminary reconciliation, list of missing documents sent to the owner | Back office / fiduciary |
| By the 10th business day | Accruals, VAT adjustments, accounting period lock | Fiduciary |
| By the 12th business day | Management report and briefing to the owner (structured 30 minutes) | Owner (recipient), back office (preparation) |
| Within 60 days after the end of the VAT reporting period | File the VAT return and pay within the legal deadline (art. 71 para. 1 and 86 para. 1 LIVA; online calculation via FTA portal), based on months already closed and locked—avoid «gaps» on the last month of the quarter | Fiduciary (A), owner (I) |
| Cantonal / federal annual deadlines | Monthly close feeds profit tax estimates and instalments; align with the tax adviser’s calendar | Fiduciary / adviser |
Close checklist: minimum contents of the «month pack»
Before the lock, verify that each item is resolved or explicitly deferred with a note and owner:
- Reconciled bank balance with dated outstanding items and amounts
- Customer and supplier ageing consistent with invoices issued and received in the month
- Month payroll recorded; OASI/IV/EO, ALV, BVG and LAINF premiums aligned with official declarations or external payroll
- Period VAT position (tax due, input tax, prior input tax adjustments under LIVA art. 31 et seq.) with no unexplained «generic» codes
- Investments and fixed assets: new purchases capitalised per internal policy and CO/Swiss GAAP FER thresholds
- Any foreign-currency transactions with documented rates (bank or daily reference consistent with adopted practice)
- Log of owner approvals on adjustments above threshold
In Accountex, workflow states (to review, approved, locked) show all three parties where the flow is stuck, reducing circular emails and duplicate file versions.
Common mistakes and how to avoid them
Dual responsibility on the same step
When owner and fiduciary can both change entries without a lock, adjustments cancel each other out. One Accountable for the lock and rules for post-close changes (with controlled re-opening).
«Gut feel» close
Skipping accruals because they are «small» distorts quarterly trends and complicates the VAT return. Define materiality thresholds in writing in the accounting mandate.
Late documents from the owner
Expense reports and approvals block the back office. Policy: no reimbursement outside the month if documented after cut-off, except written approved exceptions.
Reports too late or too detailed
A 40-page income statement the day before VAT filing does not help the owner. Standardise a one-pager: liquidity, revenue, margin, top 5 budget variances.
Formalising the process without weighing down the SME
A one-page memorandum attached to the accounting contract or internal rules is often enough: RACI, calendar, thresholds, channels (Accountex portal vs email), response times and frequency of the close meeting. For companies with ordinary or limited audit, traceability of the monthly lock simplifies the auditor’s work; for those that have opted out of limited audit (opting-out) with no more than 10 full-time equivalent posts on average per year under art. 727a para. 2 CO, it still evidences diligence towards creditors and authorities.
Review the model every year or when changing software, merging roles in the company or appointing a new fiduciary. Disciplined monthly close does not replace annual financial statement closing, but makes it predictable: fewer emergency adjustments, reliable numbers for banks and investors, and less stress around Swiss tax deadlines that depend on data already consolidated month by month.