The legal requirement to keep financial records and prepare accounts.
In Switzerland the obligation is set by the Code of Obligations and scales with size. Sole proprietorships and partnerships with annual turnover below CHF 500,000 keep simplified accounts (income, expenses and asset position), often called comptabilité simplifiée. Above that threshold, and for all companies entered in the commercial register such as an SA or Sàrl, full double-entry accounting with annual accounts is required.
Accounting records must be kept for ten years.
