Services

Book-keeping and Accounting.

A detail list of services or (work flow),that we could offer to our prospective clients are appended below for your easy reference. They are non binding until a formal agreement between us and clients are made after consulting and agreeing to our terms of service and job scope.

• 1. Data Entries: This is primarily to key in the debits and credits transactions after the accounting codes has been set up for your company in the accounting software we use.
• 2. Book-keeping: We scrutinize all documents of origin for transaction into debits or credits such as from vouchers, invoices, receipts, bills, payroll, etc and prepare journal entries when necessary.
• 3. Receivables: All receivables and payables are the debtors and creditors control when you sell and buy goods on credit. Its part of book-keeping and our system will handle that.
• 4. Trial Balance: We study the Trial Balance from the accounting software, identify any errors and made corrections to the ledgers accounts.
• 5. Journal Entries: All necessary journals are made to the ledgers accounts such as depreciation, payroll elements, accruals and others.
• 6. Balance Sheet: Finally, the Balance Sheet is prepared from the accounting software. A final study of the Balance Sheet is done and it will be submitted to the boss for approval.
• 7. Approval of Accounts: We are accounts executives and not acting as an accountant for the company and cannot do so as such. The director or owner will approve the accounts.
• 8. Taxation/Audit: After approval of the accounts, it will be sent to the tax agent for taxation computation and/or to the auditors for auditing.

For further enquiry, you can fill up the below form and click submit to us.

Payroll Administration

In addition to our book-keeping and accounting services we can also prepare the monthly payroll for your business and company. If you have less than 20 staff, it is optional for you to buy or not to buy a payroll software. For us we can use Microsoft Excel data and formula to create a payroll & pay slip for the staff.

The payroll incorporate basic pay, allowance, commissions, gross salary, overtime, statutory deduction, EPF, Socso, EIS, HRD, PCB/tax, voluntary zakat and loan repayment and the Net salary is computed.

At the end of the year, we can e-filed to LHDNM all the staff, one by one of their yearly earnings and deductions from the master ‘excel payroll’ and at the same time prepare their EA form.

The ‘excel payroll’ is useful for small number of staff as some data needs manual key in. If you have a lot of staff, over 20, it might be faster to use a payroll software. Anyway, use what’s that suit you.

You may outsource your payroll administration to us. It is part of our auxiliary service. Contact us for more information

E-Invoicing

Lately, the government has made it mandatory for most Malaysia companies to issue e-invoice (electronic invoicing) to their customers which has to go through LHDNM myinvois-portal. There are exemptions for some “type” of companies and also for sole traders, sole professionals and partnership business as well as personal and freelancers which has a turnover or annual sales of below 500 thousand ringgit. They are not compulsory to issue e-invoices. However, they may still required to submit income tax returns for their taxable income / loss from their business and vocations. Roughly speaking, the Taxable income/loss from the business and vocations is the gross income from the business less all allowable expenses related to the business under Malaysia income tax rules.

For the most majority of companies who need to issue e-invoice, you need to have the FREE government myinvois e-portal or one from the pre installed in many of the accounting software you could buy, which are e-invoice compliance with LHDNM requirements. We will need to know that e-invoice also means e-invoicing which comprises, e-Invoice, e-Debit note, e-Credit note, e-Refund note and the self billed e-invoice. It works pretty the same as we conventionally does it but now the methodology has to comply with LHDNM e-invoicing, which uses the “myinvois” e-portal and follow their strict rules.

We will not discuss further on this as you could read a lot of literature on this in the internet. We will direct you to the official government (LHDNM) website by clicking here to read more or visit hasil.gov.my/en/e-invoice/

Do you need to outsource the issuance of e-invoice, e-debit note, e-credit note, e-refund note, self billed “supplier invoices” to us or to other third parties? Perhaps you need to employ a full or part-time clerk to do all the e-invoicing stuff. Contact us for a discussion.

“Handyman” Accountant

Your company already has a good accountant and a working accounts department but somehow sometimes you need an extra hand for accounting and book-keeping work. This may arise due to sudden staff resignation, staff on maternity leave or going for the haj or for other various reason.

Whenever you need a part-time or temporary experienced accounts staff, you may hire from us, a staff on a short term contract. This saves you time, effort and expenses for advertising, interviewing, selecting or finding a temporary staff from the job agency.

Our experienced accounts assistants and executives are well verse in computerized accounting and able to use most accounting software. They are able to use microsoft office, good in analysis, can prepare reconciliation statements, incomplete records accounting and can work with all levels of staff.

All our accounts assistants are experienced in preparing the full sets of accounts from data entries to finalization of the financial statements for your company.

We are here to ‘loan’ you a temporary or contract staff whenever you need one so that your accounts department can run smoothly. Contact us anytime when you need a ‘handyman’ accounts staff of all levels.

Startup or Backlog

If you are a new startup company or a new sole trader or partnership business, we want to be of service to you for the book-keeping and accounting services. We can start by providing a set of accounting codes for your company according to the type of business you are in. Then we will begin with the book-keeping work, help you in filing your documents and provide you with some business advisory tips.

Our competent tax agent will register your company for taxation with LHDNM. He will compute your taxation after the year’s end final accounts is out and help you in the annual tax filing.

If you require payroll services, that’s not a problem. We will help you register all your staff for the statutory deductions, EPF, Socso, EIS etc. and start the payroll administration for you. We can prepare the monthly payroll for you and the pay slip for each staff.

If you are operating as a private limited company, (Sdn Bhd) you will need to appoint an auditor for the audit of your annual accounts. You can appoint our associate audit firm as your auditors. For company secretarial work which is required for sdn bhd companies, and if you do not have one yet, we can recommend a company secretary for you. Rest assured with all the professional services we could provide for you and contact us for more details.

Backlog of Accounts:– If you are in business for a couple of years and has not been filing your accounts for taxation and to SSM/CCM on the audited accounts, you already are in default under Malaysia income tax law and SSM rules. We are here to help you to get your business straight with the authorities by preparing your past year/s accounts according to all the documents you have and on all the information you could provide.

We are good in incomplete record accounting for the book-keeping work and rely on all the information you could provide. It has its limitation and we are not responsible for penalties and fines imposed by the authorities. Our tax agent will liaise with the tax authorities for you for a better outcome than the worst case scenario.

We can start doing the book-keeping work from the date you commence business, back dating the accounting software to that date and providing the accounting codes relevant to your business. Then on we will do the accounting and prepare your year end final accounts for taxation and/or audit. We will do that year by year to bring your accounts up to current year date.

Okay, lets start doing by engaging us for our services. Our fees will be moderate. It is better to resolve all your backlog accounts early for it is better to be late than never. The first step is to contact us for a discussion and see what we can help you…. professionally!