Quick answer
Every Malaysian company must keep accounting and other records that explain its transactions and financial position, retained for seven years (Companies Act 2016, s.245). Our monthly accounting service keeps those records current: bookkeeping, financial reporting, bank reconciliation, receivables and payables, general ledger, monthly management accounts and year-end audit schedules. Statutory audit, tax filing and company secretarial work are separate services.
Last reviewed： · Reviewed by：ONEKEY BIZ compliance team
01
Overview
Section 245 of the Companies Act 2016 requires every company to keep accounting records that correctly explain its transactions and financial position, and to retain them for seven years. Leaving bookkeeping until the year end technically meets nothing and practically costs more — the audit takes longer, tax is computed on rushed figures, and management has no numbers to run the business with.
Monthly bookkeeping keeps the records current. Each month we record transactions, reconcile bank accounts, manage receivables and payables, maintain the general ledger and produce management accounts — so you see profit, cash and outstanding balances while there is still time to act.
It also makes compliance cheaper downstream. Clean monthly books shorten the audit, support accurate CP204 estimates, feed e-invoicing data correctly, and give the audit schedules the auditor asks for at year end.
Who needs this
- SMEs without an in-house accountant
- Companies preparing for audit or bank financing
- Foreign-owned companies needing monthly reporting to head office
02
Documents you need to prepare
Monthly records
- Bank statements for every account
- Sales and purchase invoices
- Receipts, payment vouchers and expense claims
Payroll & statutory
- Payroll summaries, EPF, SOCSO and EIS records
Opening position
- Previous accounts or opening trial balance
- Send records monthly; backlog months are quoted separately.
- Statutory audit, tax filing and company secretarial services are not included.
03
How to get it done with ONEKEY BIZ
- 1Onboarding Month 1
Opening balances and chart of accounts set up.
- 2Monthly records Monthly
You upload documents each month.
- 3Bookkeeping & reconciliation Monthly
Transactions recorded; banks reconciled.
- 4Management accounts Monthly
Monthly P&L, balance sheet and receivables/payables reports.
- 5Year-end schedules Year end
Audit schedules prepared.
You do
- Send bank statements and invoices monthly
- Answer queries on unclear transactions
We do
- Record and reconcile every month
- Maintain AR, AP and general ledger
- Produce management accounts
- Prepare year-end audit schedules
04
What you receive
Profit and loss, balance sheet and key balances.
Every account reconciled monthly.
Who owes you and whom you owe.
Ready for your auditor.
Rules and requirements in detail
Official sources
Frequently asked questions
Does this include the audit?
No. Statutory audit is a separate service.
Can you catch up on past months?
Yes, backlog bookkeeping is quoted separately.
Does it include tax filing?
No. Corporate tax filing is a separate service, though clean books make it faster.