What are the most common errors in accounting?

Eight out of ten people don't know the correct answer to the following question:

You pay a trustee to do your accounting. The following year, the cantonal tax department makes an audit and finds an error in your accounting. Who is responsible? You or the fiduciary?


The answer: You!

As a taxpayer or as the person who signed the tax return.

What are the consequences?

1 - Pay an accountant to correct the accounting and answer to the cantonal authority.
2 - Potentially a bill to pay from the cantonal authority
3 - A problem to manage and additional stress on top of your professional activity.

So why not start doing your own accounting by automating it? Take control of the situation and at the same time get to know your business better.

Difference between TAX fraud and TAX evasion?

The distinction between tax fraud and tax evasion is:

  • Tax fraud is the attempt to reduce the amount of taxes owed by making false statements.
  • Tax evasion is when a taxpayer forgets to declare part of his income.

Unlike most countries, tax evasion is not a crime in Switzerland.

Therefore, you do not necessarily need an accountant to complete your tax return.

But then...

However, accounting is a serious task and since we are human we can all make mistakes. Even if you are a professional. That is why you should consider all your options and be aware of some of the most important parts so you can protect yourself and prevent complications. Despite all of these, you will be able to make the right decision about your accounting.

I know you have plenty of questions...

cloud of questions about accounting

... and I am sure you can add to this list, but with a little effort, your uncertainty will be gone.

Find the best accounting solution for you to avoid the most common errors

Before you start the process you need to be sure that you have the best accounting solution for your company. With this in mind identify your size and the complexity of your processes.


We define the market in three groups:

Simple accounting
Self-employed
with a few invoices sent per month, management of entertainment expenses and a few bills to pay per month. Maybe one or two employees to support you.
Association: Small association with no employees.
Who does the accounting: You, your partner (male, female), a family member or your trustee.
Accounting knowledge: None, you need to know your business. If you use an automated and adapted system like EZYcount, and if you are ready to learn a little bit about the basics of accounting to better understand your professional activity, there are no prerequisites.

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Retrouver le plaisir de faire votre comptabilité avec EZYcount
Are you looking for a simple Swiss accounting solution? EZYcount is for you.

Accounting SME
Companies where one person is dedicated to accounting and performs it on a daily basis. The accountant manages customer receipts, payments to suppliers, creates invoices and enters the company's purchases and expenses, among other things...
Association: Large association with employees
Who does the accounting: one person is dedicated to the secretariat or there is an accountant. The accounting is done daily.
Knowledge in accounting: person used to accounting and very good knowledge of the accounting software for SMEs chosen.

Accounting for large companies
A specialized department takes care of the company's accounting.
Association: Very large association that operates in several countries and has hundreds of employees.
Who does the accounting: one or more entire accounting departments
Accounting knowledge: the accounting departments are full of experts in every subject necessary for the company.

Knowledge needed to keep simple accounts

Contrary to popular belief, you don't need to have a high level of accounting knowledge to do simple bookkeeping. You need to have a good understanding of your business and how you make money. But hey... it's still better to know ;)

To start with a solid foundation, follow these 3 steps:

 The most common errors in accounting

Like in real life we can make big and small mistakes and the consequences are different. We can buy mozzarella instead of feta cheese or we can refuel our car with petrol instead of diesel.

Your accounting system is the key to understand what is happening in your business. Used for tax return preparation and other government compliance regulations.

Learn more about how to organize your office

Keep an eye on - the most important accounts 

Each of these accounts has a very important role in accounting.

Keep track of each of them to get a reliable financial overview:

Bank accounts

Sales (your revenue)

Salary expenses (wages and salaries paid to employees)

Retained Earnings (your profits)

Inventory (goods ready to sell)

Your expenses

Purchases (supplies) to find the margin (difference between sale and purchase)

Your private account that describes the amount of money you have put into the activity or that you can take

Conclusion

The usual errors in accounting can be easily avoided by automating tasks with a modern accounting system. In addition, you gain a clear view of your business and can make better decisions with up-to-date information.

By making the task of bookkeeping easier, you are more likely to stick to it and find your rhythm.

FAQ

How can I improve my accounting skills?

Define the principles or scriptures you want to master and learn about them. The more you know, the more efficient you will be. Over time, you will be faster and more organized. If you need the right help, there are excellent digital courses available.

Do I need a business card/bank account?

It is very important to keep your business account separate from your personal account. If everything starts to get mixed up, that's the end of the beans. Use a business credit card to avoid problems.

What type of taxes do I need to pay?


Switzerland, as a confederation of cantons, has a unique tax system. Each of the 26 cantons is free to set tax rates or establish new taxes, except for items imposed by federal law. Find your canton and calculate your taxes here...