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Banana Accounting Plus manages VAT in accordance with the Swiss regulations of the Federal Tax Administration (FTA). The extensions for the 2024/2025 VAT Reports generate the XML file for online transmission of VAT data to the FTA and a control printout, similar to the data entry interface of the FTA portal.
To use the 2024/2025 VAT extensions, you need to:
The Swiss VAT Report 2024/2025 is automatically created thanks to the following extensions, integrated into Banana Accounting Plus:
Changes and Updates as of 01.01.2025
Starting from January 1, 2025, important changes to the VAT law have been introduced, mainly concerning:
- Mandatory electronic processing of VAT data
- Introduction of more than two VAT rates for balance and flat-rate methods
- Option to choose annual reporting
For these latest updates, Banana Accounting allows the use of two new BETA version extensions that generate the new 2025 VAT Reports, both for the actual method and the balance or flat-rate rate method:
The VAT extensions of Banana Accounting are based on the current rates and the VAT codes linked to the respective figures of the VAT report. You can find detailed information about the VAT codes at the following web page:
All documentation and templates related to Swiss VAT have been updated to comply with the 2025 VAT regulations. In the VAT Codes table, the previous VAT codes and rates have also been maintained, so that VAT can still be declared using the previous rates.
If you have an earlier version of Banana, or the Professional plan of Banana Plus, see the page VAT Extensions 2024 - Update program and plan.
Recording transactions with VAT
With Banana Accounting, recording transactions with VAT is extremely simple due to its complete automation. VAT transactions are registered in the Transactions table, which serves as the central hub of the entire accounting process. For each VAT transaction, you need to enter the corresponding VAT code, indicating whether it's a sale or purchase and referring to the applicable VAT rates.
The software provides several pre-configured columns, and you have the flexibility to customize their display according to your preferences.
Additionally, the program offers the following functionalities:
Types of accounting
There are two types:
- On the issued invoices
It implies keeping a Clients and Suppliers register.
The costs and revenues, with the relative VAT code, are recorded when the invoice is issued and received.
More information is available on the page How to manage Supplier and Customers with VAT on turnover.
- On cash received
It is not mandatory to keep a Clients and Suppliers register, but if you wish to have one anyway, it is important to set it up with cost centers.
The costs and the revenues, with the relevant VAT code, are registered at the moment of collection or payment.
Further information can be found on the page Clients and suppliers with VAT, using the Cash principle.
Calculation method
To calculate the VAT amounts and generate the VAT report to be sent to the FTA, it is necessary to have costs and revenues in CHF base currency.
There are two methods of calculation:
- Effective method report
Provides for the deduction of the VAT paid on purchases (VAT due - recoverable VAT).
- Net tax rate method
The VAT to be paid to the FTA is calculated according to the granted rates.
Does not provide for the deduction of VAT paid on purchases.
Electronic transmission of the VAT Report
With the new extensions of Banana Accounting, in addition to the VAT Report facsimile, it is possible to export the data in XML format to be transmitted to the online portal of the Federal Tax Administration (FTA).
In the Extensions menu there are:
All users that have versions prior to Banana Accounting Plus, in order to use the electronic submission procedure, must update the program and subscription plan.
All VAT Reports can be saved in PDF format and securely archived.
Banana VAT Summary (VAT Journal)
In addition to VAT extensions, Banana Accounting Plus can generate VAT summaries based on the period and other parameters.
VAT summaries are useful for understanding the movement of VAT (VAT payable, recoverable, and to be paid) and enable effective control. In the event of audits by tax authorities, VAT summaries provide targeted details to facilitate the verification process.
For more information, please visit the VAT Summary page.
All VAT summaries can be saved in PDF format and securely archived.
VAT year-end reconciliation
Regarding the annual correction statement, which contains any differences found at the end of the year compared to the already submitted statements, Banana does not allow for a comparison of the calculated tax with the previously transmitted statements because the program does not save the total calculated tax from previous calculations. Therefore, the user must manually calculate the tax difference and communicate it to the AFC using the appropriate form.
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