SQL E-Invoice
Streamline Your Malaysian Business For e-Invoice With SQL Account
The Malaysian Inland Revenue Board (LHDN) makes e-invoices mandatory for tax purposes. SQL Account is certified to comply with these regulations, making it a seamless solution for your business. E-invoicing is being rolled out in stages, with the first group of companies must be compliant by August 1, 2024. By July 1, 2025, all businesses in Malaysia, regardless of size, will be required to use e-invoices.
In view from a business perspective, the fundamental of e-invoice is with 2 main objectives
-
Proof of Income for Tax Purposes
-
Proof of Expenses for Tax Purposes.
In the e-invoice era, all your sales or income need an LHDN-validated e-invoice as proof of income for tax purposes. All business needs to send their Invoice to LHDN for validation before giving them to customers. The e-invoice will have about 55 data fields and cover Invoices, Credit Notes, Debit Notes, and Refund Notes. The Invoice given to the customer needs to be a Validated e-invoice with LHDN MyInvoice Portal Document Reference QR Code. As for proof of expenses for tax purposes, all your expenses, purchases, or even staff claims need to be e-invoice by the supplier.
| Key Aspects to Understand About E-Invoicing | |
|---|---|
| When your company needs to start an e-invoice. | Why e-Invoice is implanted |
| What is e-Invoice | How e-Invoice process work |
| e-Invoice Data Fields | Consolidated e-Invoice |
| Reimbursement & Disbursement | Employment Perquisites and Benefits |
| Self-Billed e-Invoice | Cross Border Transactions |
| e-Commerce | Interim Relaxation Period |
If you are new to e-invoice, you may attend our e-invoice Seminar or refer to our series or e-invoice videos
Make the switch to an SQL Account and ensure your business stays compliant with LHDN regulations.
Feed Customer TIN Into SQL Automatically
Download Latest SQL Accounting Software e-Invoice Guide
No more asking customers for their TINS one by one
SQL Account is the only accounting software that automatically fetches your customers TIN (Tax Identification Number), saving you countless hours of manual effort.
How SQL Accounting Assists Your Business In Adhering To LHDN E-Invoice Requirements?
According to the guidelines as of February 9, 2024, each e-invoice must contain 35 mandatory fields and 20 optional fields, making a total of 55 fields that need to be completed for successful valid e-invoice submission. SQL Account automates this process by storing all these field records, eliminating the need for repetitive manual entry.
For every e-invoice issued, you can track its status within SQL Account, including whether it has been submitted, validated, deemed invalid, or cancelled. This enables you to effortlessly monitor the status of all e-invoices through SQL Account.
Beyond standard sales invoices, certain transactions require e-invoice, including dividends, foreign income, foreign purchases, payments to agents, and cross-border dealings. SQL Account is equipped to support and comply with these requirements in accordance with LHDN guidelines, covering:
Onboarding
Mandatory Fields
E-Invoice
E-Invoice Tutorial
Learn more about e-invoice with Bryan Cheong, including Chinese, English & Malay language tutorials.
Get Started With E-Invoice
Find out how to start e-invoicing in your business. The ultimate guide for Malaysia e-invoice.
Learn From Expert
Don’t miss the opportunity to learn and network for the latest E-Invoice information at our seminar and workshop.
E-Invoice Update
Get the latest update on e-invoice from Syntax Technologies. Follow us for more updates & information.
What is E-Invoice
Learn about e-invoices & when you need to implement e-invoicing for your business with Syntax Technologies.