Author: Carina Casas

5 Accounting Tips for First-time Business Owners

Congratulations on the set up of your first company, or at least being almost there to having a business registered under your name. It must have not been an easy task to summon the courage, not to mention the funds as well, to take the step towards entrepreneurship. To help you sail through your journey, we share our expertise to compile 5 accounting steps for setting up a new business in Malaysia:

1. Open a business bank account
This is the first step that you would need to do, as you would need an account to receive payment from your customers, and to pay your suppliers or vendors. Never use your personal account for business purposes; there should be boundaries between personal and business finances even if you may think that it is okay if you are the sole company owner. If you have one or more partners, also consider opening a payroll, investment and general operation accounts which will help you to segregate your finances better.

2. Register with LHDN
You will need to register your company with Lembaga Hasil Dalam Negeri (LHDN)/Inland Revenue Board (IRB) for tax filing. Fortunately, the registration can now be done online. The tax returns and deadline for submission depends on your company’s ownership, whether the business is a sole proprietorship, partnership, private limited (Sdn Bhd) or Limited Liability Partnership (LLP).

3. Check for SST qualification
The Sales & Service Tax (SST) was introduced on 1st September 2018 to replace the Goods and Services Tax (GST). Sales taxes are charged at 10% while service tax is at 6%. However, there are products that are exempted from sales tax, such as basic food, pharmaceutical products and steel products. There are also items that are taxed a lower rate of 5%, such as prepared fruits, vegetables and meat, mobile devices and printers. If your company manufactures taxable goods with an annual sales value exceeding RM500,000 or provides taxable services exceeding RM500,000, you will have to register your company for SST. There are exceptions that apply, so check at your local customs office for further details.

4. Subscribe to an accounting software like SQL
You may do your accounts in MS Excel for a start, but you will soon find it overwhelming especially when it comes to computing your company’s taxes. We suggest starting with an accounting software right away, so that you wouldn’t have to spend time later transferring data from Excel into your new accounting software later on. Factors to consider when scouting for an accounting software include the integration with other existing software, user-friendliness, report features and real-time availability.

5. Plan your bookkeeping
You have some time for this until the business has acquired more cash flow. With data from your accounting software, prepare the three most important financial statements that will form the backbone of your bookkeeping – profit & loss statement (P&L), balance sheet, and cash flow statement. Many SMEs engage the help of accountants for this task, so you don’t have to overwhelm yourself in producing these financial statements which can be difficult for someone without an accounting background.
We hope that by laying out these tips, we are able to give you a kick-start in your business.

5 Most Disruptive IT Trends For Companies This 2020

2020 is shaping itself as a year in which emerging technologies will play an increasingly important role for businesses, users, and digital economies. Topics such as the Cloud, Artificial Intelligence (AI), Big Data, and cybersecurity have remained a constant in recent years when talking about a more connected future.

However, the use of each of these innovations has changed at different levels, so next year we will see how these changes are implemented. These are the 6 most disruptive technology trends for 2020:

  1. Privacy laws focused on the responsibility of employees

The role of Data Protection Officers (DPO) will be of greater importance in 2020, as they must work closely with CIOs and technology teams to ensure that companies comply with these regulations. With increasing awareness of data protection, there will be an even greater focus on managing user security. And as organizations focus their efforts on compliance, employees at all levels will have that responsibility, for which they will need training and education programs.

  1. Security for Artificial Intelligence (AI)

Organizations will become increasingly security-conscious for AI, especially in three main ways: to ensure that they are not attacked; Companies will understand the value of Explainable AI (XAI) technologies, which “explain” their actions and decisions, allowing them to review as well as correct in real-time. The second is the protection of training data and Machine Learning (ML) models, for which it will be necessary to invest in homomorphic encryption. Finally, there is protection against the dangers of “concept drift,” which is when AI models built with training data become irrelevant, and the system behaves erratically.

  1. Automation will lead to hyper-automation

In 2020 we will begin to see the emergence of hyper-automation, which represents a solution in which AI and ML meet with the automation of cognitive and robotic processes. Hyper automation will help support complex, dynamic business processes such as loan processing, insurance claims, warehouse management, and more. This technology will provide the unique advantage of mimicking user actions on terminals, such as conducting transactions and generating contextually dynamic content to deliver speed, accuracy, reliability, and cost reduction.

  1. Endpoint protection as a priority

As their number and use grow, smart endpoint devices will become susceptible to external attacks. Especially mobile devices such as smartphones, laptops, etc., will be a key to corporate security on a large scale, through the workers who use them on a day-to-day basis. Hence the protection techniques must be made stronger. In 2020 we will see data loss prevention (DLP), which prevents users from leaking critical information intentionally or not, and endpoint detection and response (EDR), which continuously monitors events, detects threats, and conducts research, and initiate responses; they will gain prominence.

  1. Tools to standardize data

The democratization of data and its analysis has opened its use to departments that traditionally did not use it for decision making, such as IT. Now there are new sources of data that need to be standardized, and quality checked. Moving from data to information takes much less time when data from multiple sources is structured to conform to a schema or format, also known as Data Standardization.

How To Choose The Best Accounting Software In Malaysia For Business?

When choosing accounting software for your business, there are a few things you need to keep in mind to find the right software. There are many Accounting Softwares in Malaysia on the market that will be able to run your business, but you are not sure if it is the right software for your business or not. You will find the software that will manage the accounting for you, but you do not want the dry accounting software to work as a calculator and dairy.

Online or offline

There are two types of software. Online software is always better than offline software because online software provides more services than offline software. It helps store your data without any risk of data loss as it stores your data in the Cloud. Therefore, in the event of any untoward incident or accident, you always have a data backup.


Appropriate software is one that business owners need most. Appropriate accounting software for your business will help you operate more easily, and it is easy for your employees to learn, so it will make the job easier and does not have to take long to start using this software.

Customer satisfaction

Customer satisfaction is the key to business improvement, so when this software can help customers, it will always be remembered. Software that helps serve your customers is better by tracking the purchase of customers and high-value customers and others, as conditions that must be possessed. Customer satisfaction can increase more customers & the number of loyal customers.


To have a smooth flow in work and harmony among the software, look for software that provides integration easily.

Access and security

Easy access allows you to work wherever you want, and good security controls are a must because you store business data and keep your account for the entire business in this software.

Make sure the software you choose allows you to access through some gadgets such as iPad, Tab, Mobile Phone, Laptop, so that you can get the latest information on your business and work anytime, even when you are not in the office. Get software that gives you high security and has access to restrictions menu so you can limit certain areas in your software from employees for security.

Best Accounting Software in Malaysia Features

It is a user-friendly software that automates your business and ensures tax accounts, inventory, sales, purchases, and more easily. It helps in streamlining your expenses and reducing expenses in the business.

Reach is accessible anywhere and provides high bank security for your data. It also increases customer satisfaction and leads to the improvement of your business.

The main features are:

  • Business management
  • Tax management
  • Income management
  • Expenditure management


In the service of the nation
The National Information Technology Council of Malaysia (NITC Malaysia) is the country’s premier organisation that strategically manages IT in the interest of the nation. The Council functions as the primary advisor and consultant to the Government on matters pertaining to IT in Malaysia’s national development.
The Honourable Prime Minister of Malaysia chairs the Council. The Honourable Deputy Prime Minister of Malaysia is the Deputy Chairman and the CEO and President of MIMOS Berhad serves as the Secretary. The Council Secretariat resides in MIMOS Berhad.

MIMOS Building in Technology Park Malaysia

Mechanics and composition
The Council officially convenes twice a year. Council Membership lasts three years and is by appointment of the Honourable Prime Minister. Council Members represent three different sectors i.e public, private and community interest group. The Council forges smart partnerships or strategic alliances to carry out its mandate.
The vision of NITC MALAYSIA is one that is in line with the aspirations of Vision 2020:


Apple iPhone 3G is no doubt a revolutionary and remarkable phone that has many uses, tricks and gimmicks. However, like any other computer operated devices, iPhone 3G also has its own share of flaws no matter how advanced and prestigious it has become.

And because iPhone stands mighty over other mobile phones, users all over the world are looking at it and panic at once in disappointment when flaws come visible to them. Some of the most notable complaints about iPhone 3G that does not necessarily need iPhone repair singapore are the following:
It doesn’t sync notes except when web-based application is used which slows down the iPhone. Additionally, notes are sometimes deleted completely once you hit backspace.
Difficult to select text even with an installed application that enables cut, copy and paste.
It doesn’t ring while in sleep mode.
No changeable battery.
Yanking contacts to call can extremely slow down the iPhone.
However, surprisingly despite the above mentioned flaws, a lot of people still go for iPhone 3G because of its games, cool applications, secure internet surfing and of course prestige.


Many people of today’s generation opt to go to a non-traditional online education while advancing their formal education. This is because a lot of people are still willing to advance learning and are still eager to take classes but not in the scheduled class hours.
In online children education, it is important that you will get good instructor, curriculum and technology. There are some downsides of online education because the learning environment isn’t that appropriate. You have to be self-disciplined, well organized and time conscious to be able to keep pace with the entire course. Therefore, it is not suitable for young students especially those who are having difficulty in adopting responsibilities necessary in online education.
However, while there are some drawbacks there are also some benefits. Study shows that the retention level of students with online learning is 250% better than those in classroom courses. Further studies reveal that around 33% of students believe that online education is as good as and sometimes even better than the conventional face to face education because it is flexible, convenient and cheaper. It is important for early education for children brain development.
See news UNICEF‘s plan for education program:


Many say that furniture is the soul of an office. So, if you are planning to buy new office furniture then you are going to do a task, which is very important and can maintain an elegant working atmosphere at your office. Here are a few helpful suggestions for buying office furniture like office chair, office table, conference table and so on:
Selecting a reliable dealer:
First, you should find out a reliable dealer or broker who has a great reputation in the market and whose services are trustworthy. You can find such dealers and vendors by going online and searching for office furniture companies. Once you have found a great deal of companies to check out, you should check their customer feedbacks and choose the company, which has the best reviews and the most elegant furniture to offer.
Selecting the type of furniture:
Determining the types of furniture is very important before you step in the market with the intention of buying. So, you should decide the purpose you want the furniture to serve in your office. Do you need general office furniture for individual cabins or the general workplace or do you need classy, top-class furniture for conference rooms. Moreover, you should see if the furniture you need would bear the load of files, computers or photocopiers or can it be lightweight with only customers using it in the waiting area. Your need should define the type of furniture you should buy and the material it is made up of. Plywood, simple wood and steel are the materials that are used frequently for making office furniture.
Knowing the proper dimensions of your office is important as well before going to buy the furniture. You need to ensure that the furniture you buy will be able to accommodate all the employees who will be using it and will also fit the space of the room where it will be fitted.
Deciding a budget before going out to buy the furniture can help you in knowing your limitations. People who are running small businesses or are starting a new office only have a small budget to work with. Thus, if you are one of them and have a small budget then going for recycled or used office furniture won’t be a bad idea. However, if you belong to the category of people who need elegant furniture that can be used by the executives in your office then setting a higher budget for buying the furniture won’t be a bad choice, as customers usually get impressed by the furniture used by the company when asking for their services.


Creating a spa like atmosphere in your bathroom is easy if you choose the right bathroom accessories. Any bathroom can become an oasis with the following tips and tricks to take the bathroom from functional to serene. Even unsightly bathroom staples such as water heaters and urinal bowls can be camouflaged with the right additions. The first things that you would want to include for your spa bathroom are some fluffy spa quality towels. For more luxurious towels, department stores are the place to go.
Bamboo floor mats are both eco-friendly and will help to keep your bathroom free from bacteria. Bamboo floor mats allow water to evaporate easier than cotton bath mats. A bath accessory set that includes matching cup, soap dispenser, soap holder, and trash can made of either natural bamboo or bronze will pull the look together nicely. A tall shelf system in the corner that is made out of steel or bronze can help to shield and hide any unsightly objects that may be permanently found in your bathroom.
Another great accessory to consider is expandable tub shelves. These can also make taking a warm bath a relaxing experience. A shelf that can be attached to the side of the bath tub can be used to hold a good book, some lightly scented candles, and even a glass of wine. Consider replacing your standard towel rack with a free standing towel bar in either bronze or stainless steel. This will make your new lush bath towels even more accessible when stepping out of your bath. Finally, to make your bathroom into a warm and inviting oasis of tranquility, a framed wall mirror in either gold or wood framed can replace your standard bathroom mirror. For a more inviting touch, add a wall sconce on either side of the mirror.


It is a known fact that most people who are in business make more money than those who are employed. It is not surprising to find young people leaving their jobs to start their own businesses using the money they have saved. However, many of them are not aware of the procedures that are needed when starting up a business. Different countries have different laws when it comes to business or company registration. What is discussed below is a general outline that is followed by many countries when people decide to register a business, company or an organization.
When you want to start a business, you must first know what type of business it is i.e. whether it is sole-proprietorship, a partnership or a company. These are details that should be known beforehand. Each of the categories of the businesses has certain requirements to be fulfilled. For example, a company needs 2 or more directors. Thus, it is important for any individual to know the purpose of the business they want to start.
The next thing you will want to think about is the name that will be given to the business. This is usually one of the tricky parts. When you go to your national local business registration office or SSM, one of the things that they will do is a name search. You have to think of a very unique name. This is because each time there is a name search done, a payment has to be given. Thus, to use less money while searching for a name, think of a very unique but relevant name for your business.
Once the name search has been done, the rest is pretty much simple. However, in cases where the business is an NGO or a company, you may have to consult with a lawyer in making the memorandum of understanding.
It is important to research as wide as possible before registering a business. You can consult a professional company like NBC if you wish to register company in malaysia.


Where did you get that dress? It looks fabulous on you!” “Oh did you know about this new online boutique? I just got it from there.” We’ve had so many similar conversations, didn’t we? Now, many celebrities and artists have started wearing clothes and accessories bought online. Just check the numerous tags on Instagram and Facebook, famous people are posting their #ootd #potd #latergram, rocking that studded denim shirt with those new pair of shorts and sky-high platform shoes from various online boutiques.

Why do people buy online? The reasons are really clear:
Online boutiques are a huge pool of pretty clothing sources. Spotted that new skirt your favourite beauty blogger is wearing recently? Chances are similar products will be available online soon.
Operating fees of an online shop is cheaper so shirts are sold at more affordable prices.
Convenient! You don’t even have to move an inch away from your laptop, just click.
Buying online is so easy, there are many online platforms to assist boutiques on advertising their products so that buyers can view the new arrivals of all associated boutiques without having to go search one by one.
However, new buyers usually contemplate for quite some time before they decide to buy online. By that time, your desired item might be sold out. Do you need some help regarding online shopping? Here are some tips for online shopping:
1. Is the credit card transfer reliable?
Online shops usually use third-party payment services like Paypal, Visa and MasterCard. Payment data using credit cards have to be encrypted, this is to make sure your card number is never stored anywhere after you click ‘confirm’.
2. Look for customer reviews
Satisfied customers usually encourage friends they know to buy from an online boutique, so look out for friends’ recommendations. However, angry customers leave negative reviews online. If there are several negative reviews for cases related to delayed deliveries, seller missing in action, lost refunds … There could have been even more cases left unpublished.
3. Is the shop licenced?
Many sellers don’t apply for a permit for selling online. Make sure the shop has a licence so that you know you are buying from a legit seller. Also, be cautious of the company policy. Know the conditions for a refund. What if the item was torn during the delivery? Make sure all information you need to know is visible on the website.
4. Do it privately
Do your online purchases on your own computer, away from prying eyes, and make sure it is free of spywares that can obtain your personal details and financial data. Avoid from shopping online on public computers at all costs, because even doing so in incognito mode can’t assure you of a safe transfer.