Records must be maintained by all Malaysian businesses by Malaysian laws and regulations. A person who maintains a business in Malaysia is required to keep proper documentation as well as provide receipts under Section 82 of the Income Tax Act 1967. No matter where you are in your career whether you are just starting or have years of experience in the business world, it is important to maintain your files properly. You may engage the services of a professional accounting firm to organize and maintain your business accounts.
Keeping records is an essential and sometimes difficult aspect of running a business for all business owners. It’s essential to keep accurate records of income, expenses, employees, tax documents, and accounts. You can gain peace of mind, track your progress toward goals, and save both time and money.