What happens to accounting, VAT, and the annual financial statements when changing accounting firms?

The number one technical question when changing trustees: What actually happens to the ongoing bookkeeping, the VAT, and the next annual financial statements? The short answer: Everything continues seamlessly—provided the transition is properly organized.

Bookkeeping: Cut-off Date and Handover

The cut-off date is specified in the contract. By this date, the previous fiduciary will finalize the bookkeeping and hand over: the chart of accounts, list of balances, open items, posting journals, and interim balance sheet. The new fiduciary takes over this data and continues the bookkeeping from the cut-off date onward—ideally using the same software (Bexio, Abacus, Klara), otherwise via data migration.

VAT: Close the quarter properly

VAT is settled quarterly or semi-annually. A change in the middle of a quarter is possible but impractical. Recommendation: The old fiduciary prepares the final VAT return up to the cutoff date; the new one takes over starting the next quarter. Complete documentation is essential—the Federal Tax Administration checks for completeness in case of doubt.

Annual Financial Statements: Who Prepares the Next Set?

This depends on the timing of the change. If you switch shortly before the end of the year, the old fiduciary usually prepares the final financial statements—including the tax return. If you switch early in the year, the new provider takes over immediately. Ideal timing: after the annual financial statements are finalized, as soon as the tax return is filed.

What you should check yourself

Before the transition begins, gather the following documents: last annual financial statements, current balance sheet, VAT returns for the last 12 months, payroll master data. You can find the complete checklist of documents here. And for legal questions regarding the timing, this article can help.

Conclusion

Accounting, VAT, and annual financial statements are not a technical hurdle. With a clear deadline and a structured process, the technical handover runs smoothly—Findea guides you through every step.