License / Permit / Service Description
- Professional Accounting Service coordination and financial record management support for businesses and companies in Malaysia.
- We assist with the organisation and coordination of bookkeeping documents, invoices, receipts, sales records, purchase records, expense records, bank statements, payment documentation, debtor and creditor information, and other relevant financial documents. We also support transaction reconciliation, management account coordination, document preparation for accountants, auditors, Tax Agents, banks, and other relevant parties.
- Our service is suitable for Sdn. Bhd., Berhad, LLP, sole proprietorships, partnerships, holding companies, start-up businesses, trading businesses, service businesses, online businesses, and companies requiring more organised financial records. Let our team help streamline your financial documentation process—from document collection and record organisation to accounting coordination and compliance support.
Related Departments / Regulatory Bodies
- Appointed Accountant or Accounting Firm
- Auditor or Audit Firm, where applicable
- Tax Agent or Tax Firm, where applicable
- Inland Revenue Board of Malaysia (LHDN) / Lembaga Hasil Dalam Negeri Malaysia
- Companies Commission of Malaysia (SSM) / Suruhanjaya Syarikat Malaysia
- Appointed Licensed Company Secretary
- Royal Malaysian Customs Department, where applicable
- Banks or Financial Institutions, where applicable
- Employees Provident Fund (KWSP), where applicable
- Social Security Organisation (PERKESO), where applicable
- Human Resources Department or payroll service provider, where applicable
- Other relevant licensing authorities, government agencies, suppliers, customers, or stakeholders
License Name (Bahasa Melayu)
- Perkhidmatan Perakaunan
Application Scenarios & Business Necessity
- Newly established business requires a proper accounting record system
- Company has accumulated invoices, receipts, and bank statements that have not been organised
- Business owner needs to monitor monthly sales, expenses, profit, and cash flow
- Company requires management accounts for internal review or business planning
- Company is preparing records for Financial Statements, audit, tax filing, or Annual Return coordination
- Company requires financial documents for bank financing, loan applications, tenders, investment, or due diligence
- Company has difficulty tracking customer payments, supplier payments, debtors, or creditors
- Company requires support to reconcile bank transactions and business records
- Company needs to prepare more organised records before appointing an accountant, auditor, or Tax Agent
- Company requires ongoing monthly, quarterly, or yearly accounting document coordination
Important Rules & Compliance Standards
- The company should maintain complete, accurate, and properly organised accounting and financial records.
- Sales, purchases, expenses, payments, receipts, bank transactions, and supporting documents should be recorded and retained properly.
- The company should provide documents to the appointed accountant or relevant professional on time to avoid delays in reporting, audit, tax, or statutory compliance.
- Bank statements should be reconciled against business records to identify missing, duplicate, or unexplained transactions.
- Personal expenses and business expenses should be properly distinguished and supported by relevant records.
- The company remains responsible for the accuracy, completeness, and legitimacy of information and documents provided.
- Accounting records may be required for Financial Statements, audit, tax compliance, financing, tenders, licences, investment, and due diligence purposes.
- The company should retain relevant financial records and supporting documents according to applicable legal, tax, and business requirements.
- Accounting Service is separate from statutory audit, tax filing, tax advice, and Company Secretarial statutory lodgements unless specifically included in the quotation.
- Additional work, document reconstruction, data entry, reconciliation, audit adjustment, tax adjustment, or third-party professional charges may apply depending on the condition of the company’s records.
Compound & Legal Penalties
- Incomplete or inaccurate Financial Statements, tax records, or business reporting
- Delay in audit, tax filing, financial statement preparation, or statutory compliance
- Difficulty in obtaining bank financing, licences, tenders, investment, or approval from relevant parties
- Tax penalties, late payment charges, compounds, or enforcement action where applicable
- Disputes with customers, suppliers, business partners, shareholders, or creditors due to incomplete financial records
- Inability to verify the company’s actual profit, cash flow, liabilities, or financial position
- Requirement to reconstruct records, provide further explanations, or submit additional documents
- Possible legal or regulatory action in serious cases involving false, misleading, incomplete, or improperly maintained records
Frequently Asked Question
Accounting Service helps a business organise, record, review, and prepare financial information such as sales, expenses, invoices, receipts, and bank transactions.
No. An accountant prepares and manages financial records, while an auditor independently examines Financial Statements where an audit is required.
No. An accountant manages accounting records, while a Tax Agent focuses on tax compliance, tax computation, tax filing, and tax-related matters.
Documents may include invoices, receipts, sales records, purchase records, bank statements, payment vouchers, payroll records, debtor and creditor details, and other financial supporting documents.
Yes. Accounting coordination can help organise overdue or backdated records, subject to the availability and completeness of the company’s documents.
Monthly updates are generally more manageable and help the company monitor its financial position. However, the suitable frequency depends on the number of transactions and business needs.
Accounting records support the preparation of Financial Statements. The final scope depends on the appointed accountant, applicable standards, and the company’s requirements.
No, unless specifically stated in the quotation. Tax filing and tax computation are normally handled by the appointed Tax Agent or relevant tax professional.
No. Audit is a separate professional service performed by an auditor where applicable.
Yes. Conzlab can assist with document coordination, financial record organisation, communication with relevant parties, and administrative follow-up within the agreed scope of work.
Jeffrey Eh Hao Yih , Director
Jeffrey has been providing expert guidance for businesses dealing with ongoing challenges. With his expertise, he aids clients in strategic business planning, streamlining operations, and enhancing productivity. Additionally, Jeffrey offers diverse business technology services to help digitize traditional businesses effectively.
