In Malaysia, all business entities are required to maintain proper accounting and other records that will sufficiently explain the transactions and financial position of the company and enable accounts to be audited. All the transaction is required to be recorded within 60 days from completion.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Malaysia Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
The entities in Malaysia are required to have the audited profit and loss account must be laid before the company’s annual general meeting (AGM) not later than 18 months from the date of incorporation and within six months from the date of the company’s financial year end. All the companies as per the Companies Act are required to appoint a qualified and approved external auditor to audit its books.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide you auditing services for your businesses as required.
The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. At the time of selecting the Bank it is recommended to compare commission rates for money transfer to and from Malaysia. The major banks in Malaysia are Alliance Bank, AmBank, Affin Bank, Bank Muamalat, BSN, Citibank, Scotia Bank. All banks are stable, reliable and offer the same level of services.
YourglobalPro professionals can facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Malaysia.