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.
No brand is recommended here; use this checklist.
Essentials
- Double-entry accounting with accrual reports
- Customer and supplier ledgers, ageing, credit notes
- Bank reconciliation, ideally with bank feeds or statement import
- Fixed asset register and depreciation
- Multi-currency support if you trade abroad
Malaysia-specific
- SST handling, if you are registered
- e-Invoice submission to MyInvois, directly or through a connected provider
- Payroll that covers EPF, SOCSO, EIS, PCB and HRD Corp
- Reports that match MPERS or MFRS headings
Control and safety
- User roles and permissions
- Audit trail of edits and deletions
- Backups and the ability to export all your data in a standard format
- Locking of closed periods
Cloud versus desktop
- Cloud: access from anywhere, accountant can log in, automatic updates, usually monthly fee
- Desktop: one-time cost possible, but you manage backups and updates
Cost
Compare per-user pricing, add-on modules, e-Invoice fees and implementation help. Trial the software with a month of real transactions before committing.
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
- What is the HRD Corp (HRDF) levy and is it mandatory for my company?The HRD Corp levy is a monthly payroll-based contribution that funds training. According to HRD Corp's FAQ, employers in covered sectors with 10 or more Malaysian employees must register and pay 1% of monthly wages; employers with 5 to 9 may register voluntarily and pay 0.5%.
- 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.
- 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.