Registering an Sdn Bhd company is not difficult in Malaysia, whereby you need to provide sufficient information and the nature of the business to obtain the legal certificate (SSM) and approval. Nowadays, the government has introduced online business registration services for local entrepreneurs to register companies online. With this online business registration, some foreigners register a company in Malaysia to expand their business.

After all, being a business owner means you must keep your eyes on everything and be responsible for the company’s goal and objective. But there is one common thing that happens to every company, which is only correct without any creative input – accounting.

Keeping tracking your company’s financial status and maintaining account health is challenging for every business owner. Therefore, most small-medium enterprises decided to outsource accounting services to a professional accounting company to manage their company accounts.

What Is Outsourced Accounting Service?

Outsourcing is simply referring to hiring a professional accounting specialist firm or quality individual outside of your own company to manage and monitor various business-related documentation and activities with or without any in-house department.

Outsourcing accounting operations to a professional firm means hiring a team with the most experienced and expert skills that provide complete accounting services to your company. It involves everything related to accounting from the day-to-day bank operations, accounts receivable, accounts payable, company secretary service, and the latest taxation knowledge.

Nowadays, hiring a qualified and accountable accountant is not easy for the business owner. In some aspects, business owners even outsourced payroll services to save time and spend it somewhere else. Click here to learn more!

Why Do Business Owners Outsource To Accounting Service Malaysia?

1. Budget And Time Issues

Outsourcing can help a company have additional resources that can focus on the company’s core competencies, enhance overall services, and develop a new market to improve sales. Discover more services here!

2. To Attract Investor And Their Interests

It is crucial to provide a complete and accurate financial statement to convince them to invest. If you do not know how to generate an attractive and persuasive finance statement, what you need is to let a professional team do it.

3. Monitor The Advances Technology For Your Business

It takes a lot of time and cost to train an in-house accountant to handle different types of advanced technology and software or even perform the transfer price documentation.

You may end up spending a massive amount of money on training an accountant to manage cloud accounting software, and one day the accountant may leave the company.

3 Tips Before Outsourcing Your Accounting Services Malaysia

Before you decide to hire a professional accounting firm outside, you have to make sure they will be a perfect fit with the company’s goals and objectives,

Most importantly, their services can fulfil your business needs and requirements. The firm’s quality of performance and efficiency must be your first consideration. There are some other factors for your references.

1. Competitive Cost Range And Payment Schemes

Every accounting firm should have its payment schemes. You can be charged by the hour, project, or monthly. Therefore, you can choose the payment term according to your budget and what you need at the current stage, but do not decide based only on the rate.

2. Expertise In Terms Of Skills And Experiences

You can always ask for feedback and review from their previous partner or existing clients to understand their performance and quality. It determines if they can deliver high-quality services and consistent results to achieve and meet your needs.

3. Data Security System To Secure Your Information

The company that you are hiring must have a complete system or procedure to secure your data and information. It is essential because you will be communicating day-to-day bank transactions or operations with them, and it may involve any confidential data.