ACCOUNTING FIRM & FINANCIAL SERVICES
When It Comes to Accurate and Timely Compliance, We'll Keep Your Business Ahead
Malaysia. We provide solutions and complement the effectiveness of our clients’ finance functions by leveraging on economies of scale and best practices used by the top accounting firms across Malaysia. Our dedicated team delivers on your accounting needs by working with technology accelerators to enhance and improve workflow by simplifying, standardising and streamlining financial accounting processes.
As Malaysia’s leading accounting firm, you can expect a team of chartered accountants and outsourced accounting professionals to keep your business compliant in the face of complex requirements stipulated by the regulatory authorities and the applicable accounting standards.
BoardRoom is here to ensure that the integrity of your company’s financial statements remains intact through:
01 Interim Financial Management Solutions
- Providing accounting outsourcing in the short term to assist in accounting and payroll service to relieve clients when faced with unexpected staff turnover or staff leave problems
- Assisting clients with the reconstruction of accounts because of incomplete, lost or damaged documents
- Tidying up of accounts prior to Initial Public Offering
- Resolving general accounting related problems
02Bookkeeping and Statutory Accounting Services
- Setting up the chart of accounts
- Recording all accounting transactions
- Preparing monthly bank statements and analysis reports
- Compiling monthly management financial reports and service tax returns
- Preparing statutory financial statements that complies with Financial Reporting Standards
- Presenting reports in currencies other than functional/presentation currencies
03 Consolidation of Group Accounts
- Completing consolidation of group accounts and head-office reporting packages
04 Accounts Payable Management
- Paying of vendor invoices and employee expense claims
- Issuing of payment vouchers and preparing cheques
- Mailing signed cheques to payees, or remitting funds by telegraphic transfer
05 Cash & Treasury Management Services
- Paying vendor invoices and employee expense claims
- Issuing payment vouchers and payments through electronic banking or using traditional modes i.e. cheques/telegraphic transfers
- Notifying payees through email / Mailing of cheques to payees
- Maintaining of common or an exclusive bank accounts where clients’ funds are received or disbursed
- Maintaining of separate ledgers for common bank accounts
- Bank reconciliation on monthly basis for exclusive bank accounts
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Allocate your time and effort where it is most needed and leave the accounting to our team of specialists. Our complete suite of accounting services can help keep your business up-to-date and ahead of the curve. If you have any questions, do not hesitate to leave us your enquiry.
Why Choose BoardRoom?
Because we help take your business further, faster, at all stages
BoardRoom is Asia-Pacific’s leader in Corporate and Advisory Services including Regional Employee Plan Services, Regional Payroll Services, Corporate Secretarial Services, Share Registry Services, Accounting and Taxation Services, Payroll Outsourcing, and Human Resource Outsourcing.
For over 50 years, we have supported companies in navigating through complex operational and regulatory policies and cultural sensibilities. We are well-positioned in Asia-Pacific with offices in Singapore, Australia, China, Hong Kong, and Malaysia, as well as an extensive partner network throughout Asia.
BoardRoom is the partner of choice for many Fortune 500 multinational companies, public listed and privately owned enterprises.
YOUR POINT OF CONTACT
Chester Leong
Regional Managing Director, Boardroom Business Solutions
Frequently Asked Questions (FAQs)
1. What are the different types of accounting services?
From tax accounting to forensic accounting and external auditing to internal auditing, there is a broad range of accounting services that specialise in distinct areas of a business’s finances and needs.
In Malaysia, BoardRoom provide accounting services in the following areas:
- Interim Financial Reporting
- Bookkeeping and Statutory Accounting Services
- Consolidation of Group Accounts
- Accounts Payable Management
- Cash Management Services
- Preparation of audited financial statements in XBRL (eXtensible Business Reporting Language) format
2. How much do accounting or bookkeeping services cost in Malaysia?
The cost for quality accounting or bookkeeping services in Malaysia will depend on several factors, including the scope of the service, the number of monthly accounting transactions, the scale of your business and subsidiaries, and whether your business requires additional needs such support for accounts auditing.
In Malaysia, accounting services typically range from RM 1300 – RM 2600 depending on the provider. As with many business services, cheaper options may have lower upfront costs due to reduced scope, but can end up being more expensive in the long run if your business needs become increasingly more complex. You could potentially be opening up your company to risk factors and penalties for non-compliance with cheaper alternatives with reduced scope of work.
3. What does a bookkeeping company do?
A bookkeeper is an outsourced accountant that you hire to manage your financial statements and provide you with accurate, up to date financial information regarding your business and its financial health.
A reputable bookkeeping company offers tax strategy, preparation, and filing services. This will often extend into payroll processing, account reconciliations, financial strategising and other accounting services.
4. Why should you outsource your accounting?
Outsourcing your accounting offers you the chance to remove the burden of complex and operational financial matters on your in-house team. By outsourcing to an accounting service provider, your in-house finance teams will have more time to focus on matters that need their direct attention. An experienced accounting firm can also help to provide invaluable financial advice which guarantees the success of your business.
Accounting outsourcing is also a stable and secure way to keep your books in order when going through a period of growth and expansion without the need to increase additional headcount thus saving costs for the business.
5. What are the factors to consider when outsourcing accounting?
There are several factors to consider, namely the expertise, trustworthiness and transparency of the outsourcing provider. As the information provided and managed by the third party provider is sensitive in nature, your outsourcing accounting partner must be able to manage your accounts professionally and with integrity. As your partners in success, the accounting company must also have the expertise to handle the most complex situations, and to grow and adapt alongside your business.
Communication should also be a key factor for consideration. When outsourcing to a team of third-party accountants, it is essential that good communication and transparency is maintained between both parties to ensure streamlined passing of information. This helps to reduce risk and errors when processing your financial statements.
6. Why do businesses need accurate bookkeeping?
Accurate bookkeeping is essential for business owners to monitor corporate finances and to generate accurate business reports like profit and loss statements, balance sheets etc. This allows business owners to make informed financial decisions and ensure that your business remains compliant with all accounting and tax regulations whilst being financially secure.
7. How can BoardRoom help in accounting services?
BoardRoom has supported countless businesses from public-listed companies to large multinationals, and small and medium enterprises across the Asia Pacific region. Our team of talented bookkeepers and accountants work tirelessly when it comes to keeping your daily bookkeeping transactions to managing your annual financial statements and reports. BoardRoom also provides tax advisory and tax filing services, ensuring your business remains tax compliant.