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According to Art. 18 para. 2 lit. J MWSTG, board of directors' fees are exempt from value-added tax. They are considered equivalent to a salary payment for tax purposes.

Companies are generally liable for VAT, but can be exempt from the obligation with revenues under CHF 100,000. VAT registration can still make sense, e.g., for input tax deductions or if many customers are also VAT liable.

Small businesses use open-item accounting without individual debtor/creditor accounts and instead keep two folders each for outstanding and paid invoices. Outstanding invoices are totaled for the year-end inventory, and paid invoices are recorded upon receipt or payment.

Purchases are directly recorded as cost of goods expense, appropriate when the items are sold within the same period; the inventory remains invisible. Sales are recorded daily based on the cash register tape, thereby avoiding additional entries.

Inventory management is carried out by individual recording of goods purchases; sales generate two booking entries and show the current inventory value. The method continuously captures inventory discrepancies, enables a current inventory overview, and provides precise sales analyses.

Companies can record purchases of goods either as an increase in inventory or as cost of goods sold. Method 1 is more precise but increases the number of entries, while Method 2 is preferred by smaller companies to reduce the workload.

The UID register combines data such as company name, location, UID, and notes on entries from various registers. Search functions enable queries of this information, including status and tax details.

Inventory discrepancies are deviations between inventory according to accounting records and actual stock levels, caused by incorrect bookings, theft, or natural shrinkage. These discrepancies often lead to inventory shortages, which must be accordingly accounted for in the bookkeeping.

Cost prices change; they can be recorded through average price calculation or the FIFO method. Both methods help to account for price fluctuations in accounting.