This guide contains everything you need to know about outsourced accounting services in Malaysia.
If you are looking for accounting and bookkeeping services in Malaysia, you are highly encouraged to read this article until the end.
What is Accounting Services?
Many businesses traders face difficulty in managing accounts and cash flow transactions in and out.
One of the most common mistakes that usually occurs because of no proper method is used and also the people in charge of it are inefficient.
This is compounded by the high cost of preparation, not getting information for complete financial statements, auditing, SSM affairs, taxes and so on.
Accounting is basically a method to give financial information about a company. This is important for people like the shareholders and board of directors.
Outsourced accounting services in Malaysia are established by professionals and accredited parties to help businesses obtain their annual financial statements before the audit process is conducted.
Types of Accounting Services
Every accountant is usually appointed to do duties such as record and analyse business transactions, bookkeeping and identify the financial potential of the business and the company.
However, every accounting activity is different depending on the type of business and management of the company.
You need to identify the difference of each type of financial accounting before getting outsourced accounting services in Malaysia.
Here, we are going to show many different types of accounting services:
Also known as warranty service and widely used in addition to having various branches.
Accountants are experienced in bookkeeping, financial analysis and account management services.
They also play a role in the preparation and advice on taxation, designing the accounting system and looking at the financial history of the company to find errors.
Record and analyse company financial information for asset management, cost management, performance appraisal and transaction activities.
Management accountants are involved in the budget of releasing the latest products of the company, providing financial information for investors and tax management.
They also look at past and current financial information in planning the future of a business.
Involves public accounting duties for government agencies, where these accounting services will ensure that every income and expenditure is done in accordance with the law.
Also involved in government budgeting and asset management.
It is a service that reviews the financial management practices of companies, reviews business mismanagement, fraud and waste.
They will also evaluate the budget, management system and competencies in operations related to laws and regulations.
They also specialize in areas such as information technology and compliance auditing to give a broad picture of a business.
Similarly, there are various services that are included with accounting services. Among the common ones are:
Involves the basic tasks that need to be accomplished by small and medium sized businesses as well as working closely with accountants to ensure account accuracy.
The bookkeeper has the role of updating the company’s financial system and monitoring the payable and receivable accounts.
Certified accountants are members of professional accounting bodies and need to be skilled in management and auditing aspects, in addition to focusing on specific specializations.
Specific to the field of individual taxation and various business tax requirements.
Tax accountants are experts in aspects of necessary tax claims and how to prevent you from paying unnecessary taxes.
Financial Control Services
Engage in various business functions such as job delivery, dealing with new customers and supervising staff.
They are also known as the head of the accounting department who also conducts internal and external audits to improve the quality and efficiency of accounting tasks.
Plays a role in detecting loss of funds and concerns that arise from financial reports.
These accounting services operators have a high level of legal knowledge and play a role in finding certainty in allegations of fraud or tax evasion and others.
Involved in checking company reports and financial statements to ensure their accuracy and validity.
They also act to identify the history and records of previous receipts in the business and allow in-depth financial information about the state of the company.
Accounting Services Fees in Malaysia
Here’s on how you should know about outsurced accounting services fees in Malaysia.
Each charge imposed on accounting services varies according to the number of documents and the type of business.
It is divided into new businesses, small and medium enterprises.
Among the documents required for accountant access include business invoices, purchase bills, debit and credit notes as well as payment vouchers (cash and cheque).
Accounting Services – Need to Outsource or Create Your Own?
It is important for the director of the company to know about the management and business potential of his accounting work.
This is a frequently asked question, and both are allowed.
If the company’s situation is evolving and requires monitoring in day-to-day transactions, then it is best that you appoint a company accountant.
This will enable any financial related activities to be taken care of.
A businessman will use outsource services, namely accounting services from professionals and certified if financial transactions do not require daily monitoring.
Outsourcing services are believed to be more economical and those who offer these services have a great and well-trained team.
Real Management Services Sdn Bhd
There are many accounting services offered in Malaysia with various services and expertise.
Real Management Services Sdn Bhd has over 30 years of experience in the industry.
The company offers a wide range of services for business and corporate institutions related to accounting, tax, auditing, legal and other services.
This company registered with LHDN, Persatuan Akauntan Percukaian Malaysia (MATA), Institute of Approved Company Secretary (IACS), Chartered Tax Institute of Malaysia (CTIM), Malaysia Institute of Accountants (MIA) and Company Commision of Malaysia (SSM).
With its credibility, this company believes in becoming a leading quality, professional and reliable business management organisation in Malaysia.
The services are simple, honest and affordable pricing. There are plenty of services that you can get here.
Accounting service is available at starting from RM299 per month.
You will get:
- Unlimited transactions, invoices and expenses
- Monthly Financial statements
- Annual financial report prepared for audit
- Yearly performance insights and analysis