Bookkeeping & Compliance is one of the most essential yet often misunderstood functions in running a business. Many SMEs and startups in Malaysia mistakenly believe it’s just about “recording expenses.” In reality, Bookkeeping & Compliance involves a structured process that ensures tax compliance, accurate cash flow tracking, and data-driven business decisions.

So, what exactly is included in a monthly bookkeeping service in Malaysia? Let’s break it down.

 

1. Transaction Recording

Your bookkeeper will record all business-related transactions, including:

• Sales and income

• Purchases and supplier payments

• Staff salaries, EPF, SOCSO, and EIS contributions

• Business expenses (utilities, subscriptions, rent, etc.)

• Loan payments, withdrawals, and deposits

This is typically done using accounting software or cloud platforms if requested.

 

2. Bank Reconciliation

Each month, the bookkeeper will match your accounting records with your actual bank statements. This ensures that:

• No transactions are missed or duplicated

• Suspicious or unauthorized activity is flagged

• Your cash flow reports reflect your true bank balance

Bank reconciliation is a key part of maintaining financial accuracy.

 

3. Monthly Management Reports

You’ll usually receive clear, summarized financial reports such as:

• Profit and Loss (P&L) Statement

• Balance Sheet

• Cash Flow Statement

• Accounts Receivable and Payable Summary

These reports help you understand your company’s performance at a glance and support better financial decisions.

 

4. SST Tracking and Filing (If Applicable)

If your business is SST-registered, monthly bookkeeping includes:

• Recording taxable sales and purchases

• Calculating SST payable or claimable

• Preparing figures for SST-02 submission (bi-monthly)

• Ensuring you stay within deadlines to avoid penalties

 

5. Payroll Posting (Optional)

Some bookkeeping providers also handle:

• Salary disbursement summaries

• Monthly statutory contributions (EPF, SOCSO, EIS)

• PCB (Monthly Tax Deduction) reports

• Payslip records and claims

This is usually bundled with HR or payroll services but can be integrated into the monthly bookkeeping cycle.

 

6. Supporting Tax Agent or Auditor Requests

Proper monthly bookkeeping reduces year-end stress. It ensures that:

• Your accounts are audit-ready

• Your tax agent has everything needed for Form C or CP204

• You avoid late filing or penalties from LHDN

 

7. Secure Document Management

Most firms now use cloud folders or secure systems to organize:

• Payment vouchers

• Official receipts and invoices

• Bank statements

• Director approvals and notes

Some may also offer digital scanning of documents.

 

What Affects the Pricing?

Monthly fees typically depend on:

• Turnover size (e.g., under RM50,000 vs over RM1 million)

• Transaction volume (e.g., fewer than 500 vs over 1,000)

• Inclusion of SST, payroll, or audit prep

• Frequency of reporting (monthly vs quarterly)

 

What Consistant Info Includes About Bookkeeping & Compliance

At Consistant Info, we offer flexible bookkeeping solutions tailored to your business size and activity level. Whether you’re a small startup or an expanding SME, our packages are designed to match your monthly needs—covering transaction tracking, report preparation, and basic compliance support.

Our team helps ensure your accounts are clear, timely, and ready for tax season, so you can make informed decisions without the stress. For businesses with more complex needs or higher transaction volume, we also provide scalable options and transparent billing.

 

Want to know what’s best for your business? Let’s talk.

Contact Consistant Info at: 011-3669 6823 or visit https://consistantinfo.com.my to book your free consultation with us now.