Overview

Books that tell you
where the business really stands

Your books are not just a record of transactions. They are how management sees the real state of the business and decides what to do next. GXY takes on everything from day-to-day bookkeeping to the annual financial statements, so you can stay focused on running the business.

Whether you are a new company just starting out or a growing business looking to replace an in-house accountant with an outsourced team, we handle your books systematically, accurately and on time, all in one place.

The GXY accounting team — outsourced accounting and bookkeeping in Malaysia

How it works

What we do for you each month

Outsourced accounting runs on a monthly cycle rather than as a one-off job. Below are the five stages we complete for you each month, so your books are always up to date and ready for inspection.

Monthly cycle

Ongoing

Documents in

Invoices, receipts and bank statements

Bookkeeping

Posted to the general and subsidiary ledgers

Bank reconciliation

Bank and book balances reconciled

Statement preparation

Income statement and balance sheet

Management report

Numbers explained, compliance flagged

↻ Month after month, books that keep pace with the business

What’s included

The accounting work we handle

Outsourced bookkeeping

Day-to-day bookkeeping and upkeep of the general and subsidiary ledgers, organised monthly or quarterly. Every receipt and payment is traceable and in order.

Annual accounts

Complete annual financial statements prepared under the Companies Act 2016: the income statement, balance sheet and cash flow statement, meeting the compliance requirements of the Act.

Management reports and analysis

Regular analysis of profit and loss, cash flow, and receivables and payables. Management gets a real-time view of performance and solid figures to support expansion and investment decisions.

Payroll and HR

Payroll calculation, Employees Provident Fund (EPF), Social Security Organisation (SOCSO) and Employment Insurance System (EIS) submissions, payslip issuance and HR system set-up, all handled together.

Computerised accounting

We help you set up or migrate to a cloud accounting system, digitising the books for real-time access and replacing paper ledgers and out-of-date information.

Internal controls and SOPs

We review your internal control system and write standard operating procedures (SOPs) that reduce the risk of financial error and fraud at process level.

Feasibility and bank facilities

Financial feasibility reviews for investment projects, with returns and risks modelled. We also prepare the financial information and application documents banks require for credit facilities such as loans and financing.

Transfer pricing documentation

For businesses with related-party dealings, we prepare transfer pricing documentation that records those transactions and meets Malaysian tax compliance requirements.

Accounting records and statutory books of a Malaysian company

Statutory requirements

Complete accounting records
are every company’s legal duty

Under Section 245 of the Malaysian Companies Act 2016, every company must keep accounting records that truly reflect its transactions and financial position. The law places that duty on the directors themselves.

Keep complete and accurate accounting records of every transaction

Retain records for at least 7 years after the transaction, available for inspection

Ensure the books can explain the company’s financial position and results at any time

Directors bear direct legal responsibility for the accuracy and compliance of the accounts

Who it’s for

Who our accounting service is for

Newly registered companies

Proper books from the very first transaction, avoiding costly catch-up work later. The company stays on a compliant track from day one.

Growing SMEs

Replace a full-time in-house accountant with an outsourced team. You keep headcount costs down and get more reliable, more experienced support on the books and reporting.

Foreign and cross-border businesses

We discuss your accounts in Chinese or English and keep the books compliant with Malaysian requirements, so your overseas head office always has a clear view of the Malaysian entity.

Not sure whether monthly or quarterly bookkeeping suits you? Talk to an adviser for free ›

What to prepare

To get started,
have these ready

Sales and purchase invoices and receipts

Your monthly bank statements

Supporting expense vouchers and contracts

Payroll and EPF / SOCSO records

Last year’s financial statements, if you already have them

Leave the bookkeeping, reconciliation and statement preparation to us. All you need to provide is the basic information above.

Invoices, receipts and bank statements needed for bookkeeping

Why choose us

Why GXY

Professional accounting team

Seasoned accounting professionals who know local compliance and local practice. The books are accurate, the statements properly presented, and the work off your desk.

Bilingual service

Work with us in Chinese or English from start to finish. Every report is one you can actually read, not a page of numbers to puzzle over.

Everything in one place

From company registration and company secretarial work through to licensing compliance, the professional services your business needs are covered here, with no need to juggle multiple firms.

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