Invoice Records and Documentation: What Swiss SMEs Must Keep and for How Long

Running an SME in Switzerland means encountering record retention requirements sooner or later — especially when the tax authority announces an audit or your accountant asks for documents at year-end. The rules are clear, but often poorly executed in daily business. This article explains which documents you must keep, for how long, and which mistakes prove expensive during audits.

What the law requires

The legal foundation lies in the Code of Obligations (Art. 957–958 CO) and VAT legislation (VAT Act). Both set similar, but not identical, requirements.

According to the CO, companies required to maintain books must retain all business books, accounting vouchers, business correspondence and related documents for 10 years — calculated from the end of the financial year to which they relate.

According to the VAT Act, the same 10-year retention period applies. Any VAT-liable company must retain all documentation relevant to correct VAT reporting — including invoices received where input VAT has been claimed.

The 10-year period is therefore universal: it applies across the board with little room for shorter internal rules.

Which documents must be retained

Not every document automatically falls under retention requirements — but more do than most think. Here's an overview:

Document Type	Retention Required	Period
Invoices issued	Yes	10 years
Invoices received	Yes	10 years
Cash receipts	Yes	10 years
Payslips and payroll records	Yes	10 years
Bank statements	Yes	10 years
Contracts (current or completed)	Yes	10 years
Delivery notes	Conditional (if accounting-relevant)	10 years
Quotations without orders	No	No requirement
Internal notes without accounting relevance	No	No requirement

Special case: Expense receipts and reimbursements

Anyone claiming expenses must be able to produce every single receipt — even for CHF 12.50 on a business meal. Missing expense receipts are among the most frequent audit findings for small businesses. Electronic receipts (e.g. a PDF via email) are acceptable if stored in an unalterable format.

Digital retention: what applies?

The CO explicitly allows digital retention but sets conditions: documents must be readable at all times, unalterable, and printable on demand. In practice, this means:

• No loose PDFs on your desktop that can be overwritten at any time.
• Cloud solutions are acceptable if the provider ensures versioning and access control.
• Scanned paper receipts replace the original if quality is sufficient and the original is not legally required (rarely the case).

Anyone creating invoices digitally should ensure all sent invoices — including corrections and credit notes — are completely archived. For VAT-liable companies especially, complete traceability of charged rates (8.1%, 2.6% for food, 3.8% for accommodation) is critical. Learn more about current rates and obligations in our Swiss VAT basics 2026 — rates, duties and special rules.

Common mistakes in record retention

1. Disposing of documents after project completion

Many SME owners tidy up after a project ends — and destroy documents still subject to retention. The 10-year period runs from the end of the financial year, not the project end date.

2. Keeping only the printed invoice, not the original digital file

Anyone sending or receiving invoices by email should archive both the PDF and — where available — the associated email. In a VAT audit, proof of sending date can be relevant.

3. Treating credit card statements as sufficient

A credit card statement only proves that a payment was made — not what it was for. To claim input VAT, you need the original invoice with VAT shown separately. Credit card slips alone are insufficient.

4. Forgetting retention periods during restructuring

If a company is restructured, ownership changes, or the business closes, the retention obligation does not disappear. Documents must remain accessible — this often surprises people during business sales.

5. Failing to fully document payslips

Payslips for AHV reporting and federal income tax must also be retained for 10 years. Missing a year is hard to reconstruct later.

Record retention and year-end accounts

Record retention and year-end accounts are directly linked: without complete documentation, a proper annual account cannot be prepared. Accountants verify during year-end preparation that all postings are supported by documentation. Missing papers lead to questions, corrections, and in the worst case, an unaudited account. Maintaining structured records throughout the year saves significant time — and costs — during year-end closing.

Those who create and archive invoices digitally from the start have a clear advantage. With an invoice generator like SnapBill, all invoices are automatically saved and can be downloaded at any time.

Retention of outsourced records

Even if you outsource accounting to an accountant, you remain responsible for meeting retention obligations. The accountant typically retains documents on your behalf — but ultimately, the obligation rests with the company. It's worth clarifying explicitly in your engagement letter who retains what and for how long.

At a glance

• Period: 10 years from the end of the relevant financial year — for almost all accounting-related documents.
• Applies to: Invoices issued and received, bank statements, payroll documents, contracts, expense receipts.
• Digital allowed: Yes, if unalterable, readable and printable on request.
• Credit card slips alone: Insufficient for input VAT recovery.
• Responsibility: Always with the company, even if outsourced to an accountant.
• Most common mistake: Disposing of documents after project completion before the 10 years have elapsed.

Maintaining complete records requires little effort if done consistently from the start. Those who wait until the tax authority arrives pay for the organisation twice — in time and stress.