A Malaysia Accounting Company usually offers more services than one is led to assume based on its business category, and often some of these services are exactly the business solutions new business owners need and have been looking for. With the rise in popularity of outsourcing, the most sought after services provided by a Malaysia or JB Accounting Firm are account services related to:
- Maintaining accounting records in accordance with Malaysian (local), as well as international accounting standards, if required.
- Assistance with various accounting procedures in accordance with local compliance requirements.
- Preparation of annual financial statements, corporate income tax return and tax balance, other returns and parafiscal levies, standard annual reports, and annual reports according to the hiring company’s needs.
After incorporating a new company in Malaysia, some business owners believe they can oversee and manage all of their business’s finances, especially when their company is one on the smaller side, scale-wise. Surely managing all of one’s company’s finances saves one some money, but whether it is cost effective (in the grand scheme of things) compared to outsourcing the same financial functions to a Malaysia Accounting Company depends on factors such as time and resources available to the company, complexity of company accounts and compliance, and also confidentiality and reliability issues. If anything, outsourcing your taxes to accounting services can ensure that your taxes have been calculated and paid accurately. With their experience, you can have peace of mind knowing that the tax authorities will not be seeking you out to hand you penalty notifications.
However, services provided by a Malaysia Accounting Company are not limited to Books & Accounts and Audit & Taxes. Many accounting firms will offer the following corporate services (or have affiliated partners offering them).
New Company Incorporation
- Private limited liability companies (Private Limited companies) are the most common form of business entities registered in Malaysia. To register company in Malaysia as a Private limited company, you would have to first seek approval for your company name and register your company by providing Suruhanjaya Syarikat Malaysia (SSM) with the necessary company incorporation documents. Once both your company name and company registration has been approved by SSM, you can then open your corporate bank account, apply for business licenses, and register for SST, fully incorporating your new company in Malaysia. Often the tedious details are just too much for a new entreprepreneur, and so a JB Accounting Company like VentureHaven can help simplify the process of new company incorporation by being your one-stop shop.
Company Secretary Services
- Company secretaries play a pivotal role in the growth and success of a company. A company secretary in Malaysia must be someone who possesses certain requisite professional and personal qualities in order to satisfactorily perform a series of administrative, advisory and fiduciary roles. No business owners should take their chance when it comes to hiring a fully qualified company secretary, as he or she is responsible for many crucial tasks involving compliance right from the get-go. A Malaysia Accounting Company can be of immense assistance in this aspect with their ties to experienced company secretaries in the corporate world.