Company | VAT Flat Tax Rate Method | SME

Companies with an annual turnover (including VAT) not exceeding 5.024 million Swiss francs and a VAT liability not exceeding 103,000 Swiss francs per year can opt for the balance rate VAT method, subject to request and approval from the AFC.

More information are available at the Swiss VAT tax report - Flat tax rate method page (available in German, Italian and French only) 

In the Banana Accounting Plus template, the chart of accounts and the VAT Codes table include all the necessary settings to manage VAT in Switzerland using the balance rate method.

You can choose how to handle VAT in your transactions:

• Break down VAT in each transaction
  Before you start recording transactions, enter your VAT rates in the VAT Codes table and set "YES" in the Gross column. This way, each transaction will include a VAT breakdown, with the VAT amount displayed in the corresponding column.
• Calculate balance rate VAT at the end of the period
  VAT codes must be entered in the VAT calculation dialog, available in the Banana Accounting Plus extension. Transactions will be recorded with VAT-inclusive amounts, and there will be no breakdown of VAT amounts.

More information is available on the page VAT Report - Net tax Rate / Flat Rate Method.

At the end of the period, the software automatically calculates VAT using the balance rate method and generates a PDF preview of the official VAT report along with an XML file for the electronic submission of VAT data to the AFC.

The program includes many features to work efficiently and achieve professional results.

Some features require a subscription to the Advanced plan of Banana Accounting Plus, such as generating the VAT report template or the XML file, using the new Rules, Filter, and Temporary Sort Rows functions. Check out all the features of the Advanced plan.

Create your file

• Open the template with the Banana Accounting WebApp  
• Using the File > File Properties command, set the period, your company name, and the base currency (you can create a budget and manage accounting in any currency you prefer).
• With the File > Save As command, save the file. It is useful to include your studio name and the year in the file name. For example, "Studio-Rossi-SA-20xx.ac2".

WARNING: If you close the browser without saving, you will lose the entered data. Always save the file on your computer.

Further information and insights:

• Videos
• How to get started
• Transactions
• Import and auto-completion
• Integrated invoicing
• Swiss VAT - new regulations
• Printouts
• Year-end closing and New year