Should I do bookkeeping myself, hire a bookkeeper or outsource it?
Do it yourself when transactions are few and you have the time and discipline. Hire in-house when volume justifies a regular role. Outsource when you want expertise without a full salary. Whichever you choose, the directors stay legally responsible for the records.
Do it yourself
- Fits very small companies with a few transactions per month
- Low cost, but costs your time, and errors can hide until year end
- Use software and keep a monthly routine
Hire an in-house bookkeeper or accounts staff
- Fits when there are many daily transactions, payroll or stock
- Salary plus EPF, SOCSO, EIS, leave and training; one person means no backup when they leave
- Needs supervision by someone who understands accounting
Outsource to an accounting firm or bookkeeping service
- Pay by month or by volume; covers leave and turnover risk
- Access to people with accounting qualifications
- Needs clear scope: what you send, how often, who approves
Hybrid
- You enter daily items; a professional reviews monthly and does year-end
Questions to decide
- How many transactions per month?
- Do you have SST, payroll, stock or foreign currency?
- Can you spend time every week?
- What is the cost of a mistake?
Whoever does it, directors should review the monthly numbers and keep access to the records.
Legal basis
- Companies Act 2016, s.245
Sources
Applies to 2026 · Last reviewed 29 October 2026
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
Related questions
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- What should I look for when choosing accounting software?Choose software that handles Malaysian needs: SST, e-Invoicing through MyInvois, payroll statutory contributions, ringgit and foreign currency, bank feeds and a clear audit trail. Check data export, support, user permissions and total cost. Cloud versions make it easier to share access with your accountant.
- What is the difference between bookkeeping and accounting in Malaysia?Bookkeeping is the day-to-day recording of transactions: sales, purchases, payments and receipts. Accounting uses those records to prepare financial statements, interpret results and support decisions and tax filing. Good bookkeeping comes first, because accounts can only be as reliable as the entries beneath them.
- Is a Sdn Bhd legally required to keep accounting records?Yes. Section 245 of the Companies Act 2016 requires every company, including its directors and managers, to keep accounting and other records that explain its transactions and financial position. This applies even to a new, dormant or loss-making company.
- How long must a Malaysian company keep its accounting records?A company must keep accounting records for seven years after the transactions they record were completed. For tax, documents must be kept for seven years from the end of the relevant year of assessment. Use whichever period ends later.