If you are having a hard time to keep track of your stocks, you are not alone. Many e-commerce businesses, especially big ones had to increase warehouses to keep all the inventories in one place. However, due to the increase in numbers of warehouses, businesses are...

A bank reconciliation is a document that compares the cash balance on the balance sheet of a company with the amount on its bank statement. The reconciliation of these two accounts assists in deciding if accounting adjustments are required. Bank reconciliations are...

The impact of MCO towards local businesses According to the Domestic Trade and Consumer Affairs deputy minister, Chong Chieng Jen, the commitment level of Malaysians buying local-made goods is still below 40%, although more than 75% of them are aware of the ‘Buy...

Cloud accounting refers to internet transactions. The practice does not require you to install software or own a server on your computer. A business that offers accounting services in the cloud includes remote servers and applications. They grant you access to them...

As digital platforms progress and mature, individuals can monetise almost anything they set their mind on e.g. blogging, vlogging, online tutorials, personal shopping, driving, moving, virtual consulting, and so on. Having an offline or online business is suddenly the...

Having a business of your own grants you the freedom to be your own boss, execute your own ideas, work on passion projects, or develop products you are interested in. Regardless of whatever motivations driving you to be a business owner, there are requirements that...

What is withholding tax in Malaysia? Quoting directly from the Inland Revenue Board of Malaysia’s official website, withholding tax is an amount that is withheld by the party making payment (payer) on income earned by a non-resident (payee), and paid to the Inland...

What is petty cash? Petty cash or a petty cash fund is a small amount of cash set aside by a business for daily or weekly expenses that require payment in cash terms, or are too small in amount to be issued a check. It is a pre-determined amount of cash that is kept...