Not too infrequently businesses have to make a decision whether to outsource or house a business function, such as bookkeeping and accounts. For startups and small companies it is never an easy decision as cost-effectiveness and reliability are serious factors to consider. However, if your company is steadily expanding and you have been doing your own accounts or delegating the job to a member of the staff who is not a full-time or qualifed accountant, then you should be seriously considering the outsource to a Malaysia Accounting Firm option, for the following advantages that you will gain:
Malaysia Accounting Services
You Get More Time to Focus on Your Core Business
Outsourcing your books and accounts and annual compliance returns to Malaysia Accounting Services avails your company’s various resources to boost business development, such as marketing and sales. You will gain more time to focus on and complete important business planning and office work once distractive backend functions of your office are delegated to a Malaysia Accounting Firm.
You Save Money
To performing accounting functions satisfactorily in-house, you will need pay a full-time or substantial part-time salary for at least one qualifed accountant, and also for his or her EPF, SOCSO, annual leave, medical leave and other statutory benefits. By outsourcing your bookkeeping and accounting operations, you pay for what you need, when you need it, and nothing more. According to one source, a fresh graduate expects a minimum starting salary of RM3000 to RM3500, and this could be a big expense to small companies, as it adds up to RM36,000 a year, without even adding bonus or any other allowance, incentive or benefit. However, outsourced Malaysia accounting services handled by experienced accountants could go as low as RM900 per quarter.
You Get Your Work Handled and Overseen by Experts
By partnering up with a professional Malaysia Accounting Firm via outsourcing, you gain peace of mind and confidence in having experienced professional accountants (likely supervised by chartered accountants) making sure that your books are kept in good maintainance and any potential problems in your accounts and financial statements eradicated before they end up affecting compliance with regulatory standards.
In addition, accounting standards and regulations in any country are frequently changing, and an entire team of professional accountants working for a Malaysia accounting firm will no doubt be the better candidate when it comes to keeping track of changes and making necessary adjustments.