FAQ (10)

Soalan Lazim Tentang Perundingan

Keywords: Accounting | Accounting Software | Annual Return | Audit | Bank Statement | Broadband | Business Address | Business Consultancy | Business License | Business Registration | Cloud Accounting | Cloud Storage | Company Email | Company Incorporation | Company Logo | Company Name | Company Profile | Contract | Courier | CRM | Customer Relationship Management | Customer Database | Data Backup & Recovery | Digital Marketing | Digitization | Documentation |Domain Name | eCommerce | ePayment | Fax | Fixed Line | Filing | Internet | ISP | Internet Service Provider | Invoicing | Laptop | LOA | Letter of Award | LOI | Letter of Intent | Logistics | Memorandum of Agreement | MOA | Memorandum of Understanding | MOU | Mobile Devices | Mobile Number | Office Rental | Online Banking | Online Payment | Online Presence | Photocopying | PO | Purchase Order | Printing | Project Management | Proposal | Quotation | RFP | Request For Proposal | RFQ | Request For Quotation | Scanning | SEO | Search Engine Optimization | Shipping | Social Media | SAAS | Software As A Service | Taxation | Telecommunication | Tender | VOS | Virtual Office Space | Web Design | Web Hosting | Webification | Web Server | WhatsApp Marketing | Workflow Management

Q1. Why I need a consultation?

Many small and micro businesses in Malaysia are still not up-to-date or well-informed on the latest development in Digital Technology or simply how to #GoOnline and #GoDigital. Many are slow-to-adapt and slow-to-adopt new technologies and having a very conservative or sometime even sceptical attitude towards new online way of doing things! They are also very concerned about the cost or price of these new technologies.

We want to assure you and help you to #GoOnline and #GoDigital. In fact, most of the new online tools or digital technologies come FREE OF CHARGE or just require a very small monthly fee to use it! That's why we are providing this consultation service to YOU.

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Q2. Is your consultation free?

YES. We understand the mindset and concern of most of the small and micro businesses in Malaysia and in most Asia countries. We provide you with a FREE (no string attached) consultation to answer your questions on how to make your business #GoOnline #GoDigital.

Try to learn to use our FAQ, Blog and Online Resources in our website first before you contact us. We believe > 80% of your questions are common and frequently asked questions that you can find the answers in our website.

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Q3. What kind of consultation you give?

At this moment, we can only provide our FREE consultation on a best effort basis. We provide consultation primarily using chat messages over WhatsApp, WeChat or emails. And sometime our response time to you may not be as instant as you want, but we try to answer your questions within 24-to-48 hours, at our best efforts.

Sorry. Currently we do NOT provide any VIP or face-to-face consultation services to any customers. After all, we are in an ONLINE business and we help you to #GoOnline and #DoThingsOnlineWay. That's our mission.

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Q4. Can we call you for consultation?

Yes. But if possible, we prefer you to contact us via the WhatsApp or WeChat chat message or just leave us a voice message. We will reply to you shortly.

Sometime our phone line could be busy or out of reach. So we may not able to answer your phone call all the time.

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Q5. What is difference between desktop accounting and cloud accounting?

Desktop accounting or server-based accounting software require you to install the accounting software into your desktop PC or your own server PC in your office. Typically, you need to purchase the software license in order to run the desktop accounting software.

Cloud accounting runs as Software-As-A-Service (SAAS) model whereby the accounting software is installed centrally in the cloud servers and maintained centrally by the vendor's software development team. The end users just need to use the browser on their mobile devices to access and use the accounting software, with no software installation or no computer required.

Most of Malaysia SMEs started with some kind of desktop-based or server-based (in-house) accounting software for decades. But with the emerging and maturing cloud technology, cloud accounting software has been getting very popular and becoming mainstream, especially with its monthly subscription model.

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Q6. What do you recommend for accounting software to SME?

We recommend you to go for cloud accounting software. WHY?

If you do not use any accounting software yet for your business, we recommend you to just start with cloud accounting platform for your business. The benefits are:

  • No need to install or upgrade periodically any SOFTWARE on your computer
  • No need to worry about loss of data, backup and recovery
  • Pay-per-use model with monthly subscription fee
  • You can access your account data anywhere using your mobile phone, tablet or laptop
  • Easier technical support with no more hardware related problems

If your business is running on a desktop-based or server-based accounting software, start planning to migrate to a trusted cloud accounting. There may be some short-term pains, hassles and headaches during the migration period with the switchover to the new accounting platform, but it is worthwhile for the long term benefits.

Some people may complain that they need to pay the cloud accounting every month as long as they are using it. Think of your electricity bill, water bill or Internet bill. This is what we call as utility pay-model. Treat your subscription ofcloud accountingas another company's utility bills.

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Q7. Why I have to understand accounting?

No business owners like accounting except IF he/she is an accountant by training.

In reality, many successful businessmen do not have a solid understanding on basic principles of accounting and company financial reporting. Of course, they have their accountant(s) or entire accounting department to rely on. Unfortunately, this is not always the case for small and micro business owners.

As a small business owner, you MUST master, at least, the conceptual understanding of accounting. Else you will not be able to manage and control the financials of your business.

Accounting or financial report is interesting. The boring part is the daily book-keeping, business transactions tracking, records-keeping and filing! These are the tedious jobs you must do daily or weekly, if you are a one-man-show business!

If you can not afford to hire a dedicated accountant or account executive/clerk, what other affordable choices you have? Fortunately, with advances in technologies and outsourcing model, you do.

(1) Outsource your accounting department to a third party accounting company/provider, OR
(2) Use accounting software to automate or semi-automate your accounting and book-keeping tasks.

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Q8. Do I need to have my account audited?

Submitting an audited account or audited financial statement of your company to the Tax Authority (Lembaga Hasil Dalam Negeri or LHDN in Malaysia) annually is another mandatory thing you must do for your company if it is a Sdn Bhd. If your business is a sole-proprietorship or partnership, it is not mandatory to do so but it is optional.

Regardless of your account need to be audited or not, by law, you still need to do your business accounting for your own business management purpose.

We recommend you to get a trusted auditor to audit your account and give professional financial advices on your annual account closing. If possible, get an all-in-one service provider who can provide accounting, audit, taxation and financial planning services to you.

We can refer you to our panel of Partners who can provide these services specially for small and micro businesses.

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Q9. Do I need to submit my Annual Return?

Submitting the annual return of your company to SSM (Suruhanjaya Syarikat Malaysia, Registry of Companies and Registry of Businesses in Malaysia) annually is another mandatory thing you must do for your company if it is a Sdn Bhd. If your business is a sole-proprietorship or partnership, it is not mandatory to do so.

We recommend you to get a trusted company secretary to assist you on this matter. If possible, get an all-in-one service provider who can provide the services of company secretary, accounting, audit, taxation and financial planning to you.

We can refer you to our panel of Partners who can provide these services specially for small and micro businesses.

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Q10. How do I start my eCommerce business?

There are two ways for you to start an eCommerce business nowadays. (1) You can join as a seller/merchant to a eMarketplace such as Lazada, Shopee, Amazon, etc. OR (2) You can set up your own Webstore site.

For the upstart small & micro businesses or if you are just trying your "luck" on eCommerce or if you are new in trading business, we recommend you to start with method (1).

However, for those more established small & medium enterprises which have their own products or own/control their production or have been in the trading business for long time, they may consider to invest into method (2) with setting up of their own Webstore site.

Currently we do not provide any Webstore setup service. But we can refer you to our panel of Partners who can provide these services specially for SMEs.

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Q11. How do I digitisemy bank statements?

IMPORTANT. Bank statement is an important official document you must keep for records, not just for the audit purpose but also for other official purposes such as applying for bank loans.You receive the bank statement (printed copy or electronic copy) each month from your bank for your company's saving/current account.

Our Advice for Good Practice: Always make a scan copy of your bank statement (printed copy), digitise it into PDF format and save the electronic copy into your company's Google drive. Name it by YYYYMM, such as "PBB-Bank-Stmt-202112". But the better way is to switch over to eBanking and get your eStatement in electronic copy.
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Q12. What is WhatsApp Marketing?

WhatsApp is the most popular chat app in the world (in every country in Asia, probably except China and North Korea) with more than 1 billion users worldwide using WhatsApp everyday.

WhatsApp Marketing is the new marketing channel to send or broadcast marketing messages (in multimedia format) via WhatsApp channel such as WhatsApp Groups or Broadcast List. Quite similar to SMS Marketing in the older days when SMS was pervasive during 2G era in the late 80s and 90s.

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