Retaining important business documents is a key aspect for every company to consider, not only for their legal security but also to ensure the traceability of business transactions. In this article, we’ll show you which documents you’ll need to retain when doing business in Switzerland and how digital archives can help.
In Switzerland, you have to retain certain business documents for ten years. They include:
Accounting ledgers, accounts and business journals
Accounts receivable and accounts payable
Inventories and lists of services not yet invoiced
Internal and external accounting documents
All these documents may be archived electronically apart from annual financial statements (balance sheet, income statement and notes), which must still be available as a signed hard copy even after ten years.
Making retention digital – with eArchive from ePost
Modern technological solutions such as eArchive from ePost mean that you can now fulfil your retention obligation digitally too while remaining compliant with the law. This document management system (DMS) is more secure than a conventional cloud solution and meets all the requirements of the Swiss Accounts Ordinance (AccO). The digital filing cabinet lets you save space, costs and time while keeping track of your business documents.
Are digital archives secure?
Yes, they are actually more secure than traditional ones. Physical documents are always at risk of theft or fire or water damage. Printers can also pose a security risk, because they often lack adequate protection against hacker attacks. Digital archives eliminate these dangers while also offering additional security features, including logging all actions and ensuring that the documents cannot be changed. They also meet all the legal requirements of the AccO.
The advantages of a digital archive
Quick access: the full-text search means that you can find the documents you need in seconds.
Security and transparency: all actions in the system are logged and are therefore traceable. A time stamp ensures that documents cannot be altered.
Individual access rights: you can decide for yourself who can access which documents.
Legally compliant: digital archives meet all the legal requirements, including those of the AccO.
The obligation to retain important business documents must be taken seriously. Armed with the right digital solutions, however, this process is neither complex nor time-consuming. Making archives digital also injects sustainability into your office and helps protect the environment. With an eye on the future, the digitalisation of business processes, including document storage, is here to stay.