Tuesday, February 06, 2024

UBS Ang Pow Cashback Bonanza for CNY Celebration

 



UBS Ang Pow cashback bonanza is being held on 24 January to 15 March 2024

Minimum spend RM1000, guaranteed RM200 cashback for every customer! 

Enjoy cashback for every NEW license purchased during the promotional period. The more you invest, the greater your cashback rewards. 


The cashback offer applies to the following products:

  • Access UBS relicensing
    • For UBS customers whose licenses have lapsed for more than 4 years, if you are currently using an outdated version of the UBS software, upgrade to the latest version and get ready for eInvoicing.
  • Access UBS product suite
Discover the Access UBS product suite, designed for current customers seeking to implement additional offerings such as Payroll, Inventory, or Accounting into their current solutions.

If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat

Thursday, December 21, 2023

Access UBS Accounting - Where to change tax code setting?



Effective date from 01/03/2024, government will expand service tax to cover logistics, brokerage, underwriting and karaoke, and will increase the service tax rate to 8%, but will maintain the 6% rate for services such as food and beverages and telecommunications. Service tax rate at 6% would also be imposed for parking and logistics, the Finance Ministry had said.

Below is the location for set the tax code setting (Access UBS Accounting): 
General > Miscellaneous Files > Tax Code Maintenance 


If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat

Monday, November 20, 2023

Access UBS 2023.3 Release Notes



iAssist
Introducing the new iAssist feature, equipped with drag-and-drop capabilities to provide enhanced visibility into the entire document journey within the transaction cycle. With this innovative feature, users can effortlessly monitor document progress, gain valuable insights into their position within the transaction cycle and make well-informed decisions. This advancement promotes transparency and efficiency, empowering users to manage their tasks more effectively and with greater confidence.

Locating iAssist and getting started
Log in to Inventory and Billing and you will noticed a new feature named “iAssist” added to the business transactions list on the left panel – refer image below:



Accounting, Inventory & Billing
Document Attachment (Master File and Email sending)
Do you struggle to keep track of essential information stored within your system's transactions? Document Attachment is here to help. Our new feature allows you to easily attach and retrieve documents within your transactions. No more wasting time sifting through endless data or manually searching for documents. With Document Attachment, you can collect and organize all your transaction-related documents in one place, making it easy to stay on top of your business. Say goodbye to the hassle of manual document management and try our new Document Attachment today.

The document attachment capability is now expanded to Master files such as Customers, Suppliers, and Items. This enhancement enables you to seamlessly attach and retrieve documents within your core data files. Furthermore, Document Attachment is also incorporated into our email feature, streamlining the process of including crucial attachments when sending emails through our solution.

The new Document Attachment tab is added to the maintenance screen and now accessible in the following master types:





Supported file and image types:







Sample of the Customer Maintenance screen with Document Attachment in respective mode:
Add mode:



View and Edit mode:



Email:






If there are attachments in the transaction, same list of files will be listed for you to select and email to your customer. Please note that the maximum file size per email is 20MB.

To further assist you, default Attach to email functions has been added to Attachment in the transaction which allow you to automatically include the selected file when emailing.



Product Policy
Update on Product Terms and Conditions
Product Terms and Conditions have been updated; you can view the content from the following screens. Please ensure that you are connected to the internet before clicking on the menu.


General

View Previous Year Data
In order to enable you to view the attachments within your system, you are required to link the accounting folder for accessing the previous year Inventory & Billing data. The same procedure applies to access previous year accounting data.



Important Note:
Whether it is a single module (Accounting or Inventory & Billing) or both, you must perform the required mapping in the Previous Year Data settings because of the shared master files data.

Example: If you are solely using the Accounting module, without Billing, and running Year-End procedures exclusively in the Accounting module, you should select the main folder associated with your company name, eg: ABC Sdn Bhd.



If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat

Friday, November 03, 2023

Updates on einvoicing

When do I need to start eInvoicing?

The implementation will occur gradually, starting in August 2024 as below:
1 Aug 2024 -For businesses with an annual turnover of RM100 million or more
1 Jan 2025 - Businesses with an annual turnover of RM25 million to RM100 million
1 Jul 2025 - eInvoice becomes mandatory for all taxpayers in Malaysia
However, businesses can voluntarily embrace e-invoicing from 1 January 2024.


Why eInvoicing?




eInvoicing Software FAQs

Why do I need eInvoice in Malaysia?
- Adopting eInvoice in Malaysia is essential for several reasons outlined in the LHDN guidelines. Firstly, eInvoice ensures compliance with the Inland Revenue Board (LHDN) regulations, helping businesses adhere to legal requirements. Secondly, it significantly reduces processing costs for each invoice, potentially up to 80%, leading to substantial savings. Moreover, eInvoice accelerates payment processes, improving cash flow and improving businesses' financial stability. Embracing eInvoice simplifies invoicing procedures and aligns seamlessly with the LHDN Malaysia regulations, making it a practical and efficient choice for businesses operating in Malaysia.

What is eInvoice?
- eInvoice, per the guidelines provided by LHDN Malaysia, refers to the electronic version of traditional paper invoices. It's a digital method businesses use to create, send, receive, and manage invoices over the internet. These electronic invoices are structured data files that adhere to a standardized format, ensuring consistency and compliance with LHDN regulations. eInvoice simplifies the invoicing process, reduces paperwork, and enables secure and efficient exchange of invoices between suppliers and buyers. It is crucial in enhancing business efficiency, cutting costs, and ensuring compliance with LHDN Malaysia guidelines.

Why is eInvoice important to your business?
eInvoice is crucial for our business because it ensures compliance with the guidelines set by LHDN Malaysia. By adopting eInvoice, we streamline your invoicing process, reduce operational costs significantly, and enhance overall efficiency. This compliance saves time and money and ensures that our business operations align seamlessly with the regulations, guaranteeing smooth transactions and financial stability.

What are the benefits of eInvoice?
eInvoice eliminates the need for sellers to print paper invoices or create PDFs for mailing or emailing to buyers. Buyers no longer have to input invoice data into their accounting systems manually. This method enhances accuracy and security, speeding up processing times and payments.

In summary, the benefits of eInvoice include:
1. Reduced administrative work for both buyers and sellers.
2. Faster payments for sellers.
3. Cost savings for both buyers and sellers.
4. Fewer errors for buyers and sellers.
5. Direct and secure connections between buyers and sellers.
6. Reduced environmental impact.


If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat


Thursday, August 17, 2023

LHDN introduce e-Invoice in 2024

Introduction

An e-Invoice is a digital representation of a transaction between a supplier and a buyer. e-Invoice replaces paper or electronic documents such as invoices, credit notes, and debit notes.

An e-Invoice contains the same essential information as traditional document, for example, supplier’s and buyer’s details, item description, quantity, price excluding tax, tax, and total amount, which records transaction data for daily business operations.

Benefits of e-Invoice
The implementation of e-Invoice not only provides seamless experience to taxpayers, but also improves business efficiency and increases tax compliance. Overall benefits include:

  • Untitled Invoicing process.
    – Streamlining of transaction document creation and submission, and automation of data entry for transaction made.
  • Facilitated tax return filling.
    – Seamless system integration for efficient and accurate tax reporting.
  • Enables streamlining of operations.
    – Enhanced efficiency and significant time and cost savings for larger business.
  • Digitalized financial reporting.
    Aligns financial reporting and processes to be digitalized with industry standard for micro, small and medium sized enterprises.
Overview of e-Invoice

e-Invoice Implementation Timeline.

Sample E-Invoice

Reference

  1. Seller’s & Buyer’s Tax Identification Number (TIN)
  2. Company / Business Registration Number
  3. E-Invoice Date
  4. E-Invoice Unique Serial Number
  5. Product Code (Barcode / QR)
  6. Product / Service Description
  7. Transaction status
  8. Details of product / service (Quantity, unit price)
  9. Discount offered
  10. Itemised amount payable excluding tax, tax amount, amount including tax and tax rate / tax relief
  11. Total amount payable including tax

根据内陆税收局(LHDN)最新的消息就指出,电子发票系统(e-invois)将会分阶段落实,明年将会是指定企业试点落实。一旦电子发票系统全面落实推行之后,民众就不需要保存发票长达 7 年了。

据悉,电子发票系统(e-invois) 将于 2024 年 1 月份开始对指定的企业进行试点推行。在 2024 年 6 月份时,则会对营业额超过 1 亿令吉的企业强制要求使用电子发票系统。

到了 2025 年 1 月份时,则会对营业额超过 5000 万令吉的企业强制使用,以及在 2026 年 1 月份时则对营业额超过 2500 万令吉的企业强制使用。最后到了 2027 年 1 月份时,所有企业都必须使用电子发票系统

If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat

Thursday, August 10, 2023

Access UBS Software Bundle Promotion

 

UP to 40% off your Finance & Accounting, Payroll and HR Software. 

From now till 31 October, tap into our Access SME Software Bundle and enjoy discounts off our Finance & Accounting, Payroll, and HR business solutions.

Select 2 products and save 30%* | Select 3 products and save 40%*

Solutions offered in our bundle promotion include:

  • Finance & Accounting software - Access UBS One Accounting & Billing, Access UBS Accounting & Billing and Access UBS Inventory & Billing
  • Payroll software - Access UBS Payroll and Access EasyPay (desktop or cloud-hosted)
  • HR software - Access Workspace HR Starter Pack and Access People HR

* Discounts are applicable only for software purchased on subscription.

If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat



Saturday, July 22, 2023

Access UBS Payroll 2023.6 Release Notes


Malaysia Statutory Update

Update on TP 1 Tax Form
Updated TP 1 form to the latest template from LHDN.



Update on TP 3 Tax Form
Updated TP 3 form to the latest template from LHDN.


Breakdown on Additional Lifestyle Reliefs

Breakdown on additional lifestyle reliefs to comply with the latest TP 1 and TP 3 form templates.
As per the latest template of TP1 Tax Form YA2023, the system needs to capture and show the breakdown relief amount of additional Lifestyle relief to
Item C6 a) Lifestyle (sport equipment)
Item C6 b) Lifestyle (rental/entrance fees of sport facility)
Item C6 c) Lifestyle (registration fees for approved sport competition)

Thus, in Settings > Payroll Settings > Statutory / Tax Tables Maintenance Setting > Tax Relief Table:
The description of TR0040 changed from ‘Lifestyle - Sport’ to 'Lifestyle (sport equipment)'.
Added new tax relief TR0048 Lifestyle (rental/entrance fees of sport facility).
Added new tax relief TR0049 Lifestyle (registration fees for approved sport competition).
The sum of TR0040, TR0048 & TR0049 relief amounts should be capped at RM 500.



New Tax Type for C-Suite Position

Added a new tax type and tax calculation mechanism for the position of C-Suite.
To encourage high value employees to work at Malaysia, a flat tax rate of 15% is given to non-individual citizens who reside in Malaysia and hold the position of C-Suite in companies that have approved the placement incentive scheme manufacturing operations back to Malaysia.

Encouragement for a flat tax rate of 15% to the C-Suite serving in eligible Electrical and Electronic (E&E) companies is also extended for another 2 years. This incentive extension proposal is effective for applications accepted by MIDA from 1 January 2023 to 31 December 2024.


If the chargeable income does not exceed RM35,000, employee is eligible for individual and spouse rebate for RM400, respectively

New tax type C-Suite is now available in Employee details > Statutory Info screen:


New tax type and income tax calculation mechanism of C-Suite position has been added to Settings > Payroll Settings > Statutory / Tax Tables Maintenance Setting > PCB Constant Value.

PCB Constant Value table of C-Suite tax type:


Bank Files Update

Added new bank files or updated existing bank file formats as per customer requests.
The below section describes the features in more detail, including screenshots and videos where appropriate, this is ordered by the products/modules identified in Release Summary section.

Affin Bank (Affin Max)



If you have any questions, please do not hesitate to reply back to below information, I will be able to assist you further.


Vivid Solutions Sdn Bhd
Tel : 03-91722228
Mobile : 011-10161636
Click here for Whatsapp chat
Email : infor@vivid.com.my