Access UBS - Exploring eInvoicing implementation options in Malaysia

 eInvoicing is a crucial aspect of modern business operations, streamlining financial transactions and ensuring compliance with tax authorities. In Malaysia, businesses of varying sizes must adopt eInvoicing based on their revenue levels. In this short read, we'll explore the essentials of eInvoicing, including validation processes, unique identifiers, and compliance requirements.

The basics of eInvoicing implementation

1. Validation process: Transmitting to LHDN

• At the core of eInvoicing implementation lies the need to transmit every accounting transaction to the Malaysian Inland Revenue Board (LHDN) for validation.
• Once validated, businesses receive a Unique Identifier Number for the invoice.

2. QR code integration

• Alongside the Unique Identifier, businesses must embed a QR code into their electronic invoices.
• This QR code facilitates easy access to invoice details and enhances efficiency.

Options for adopting eInvoicing

Businesses have three main options for adopting eInvoicing:

MyInvois Portal

• Free for All Businesses
• Use the MyInvois Portal to generate invoices and validate them simultaneously.
• Ideal for small and medium-sized enterprises (SMEs).

2. Accounting software integration

• Software-based validation
• Acquire accounting software capable of converting invoices into a format validated by LHDN.
• The software will automatically include the Unique Identifier Number and QR code.
• Additional features may vary based on the chosen software.

3. Peppol eInvoicing

• For business partners
• Both parties (your business and your partners) must be registered for Peppol.
• Implement Peppol Ready solutions (not necessarily the same product).
• Includes transmission of invoices to LHDN for validation.

Key considerations

1. Validation by LHDN

• Regardless of the chosen option, LHDN validation is essential for official eInvoices.

2. Accurate computation

• Pay attention to correct computation, especially regarding the Service and Sales Tax
• Software vendors often provide built-in checks to ensure accuracy.

3. Industry-specific rules

• Different industries may have additional rules and guidelines.
• For retail businesses (where invoices are not typically issued), consider consolidating receipts for LHDN validation.
• Be aware of file size limits and row counts, which software should handle efficiently.

Conclusion

eInvoicing is a transformative step toward efficiency and compliance. Choose the right approach for your business, validate your invoices with LHDN, and ensure accurate computations. By embracing eInvoicing, you contribute to Malaysia's digital economy and streamline financial processes.

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
Website: http://ubssoftware.com.my

Access UBS Pay Updates on Foreign Workers in PERKESO/SOCSO

 

From 1 July 2024, foreign workers will receive benefits under the Social Security Organisation’s (SOCSO) Invalidity Scheme, including 24-hour protection and funeral repatriation costs.

The move, announced by Human Resources Minister Steven Sim in May 2024, will allow for enhanced protection of foreigners, including expatriates and domestic workers, employed in Malaysia.

For more information review the following:

• Perkeso Foreign Workers page
• Perkeso Notification
• Perkeso Brochure

This change will not require an Access UBS Payroll software upgrade, as these settings are already available for employees.

To update the settings for Foreign Worker employees:

1. Go to Employees and double-click on the employee’s name or click the Pencil icon to edit.
2. Click the Statutory Info tab.
3. Key the Social Security number of the foreign worker at Socso No.
4. There are 2 types of contributions to be selected for Foreign Workers:
   • The first type of contribution (Work Disaster Scheme and Disability Scheme) for foreign workers who start entering the PERKESO scheme or contribute for the first time under the age of 55 - Select Table 1.
   • The second type of contribution (Work Disaster Scheme) is foreign workers who have reached the age of 55 when they first joined the SOCSO scheme or foreign workers who have reached the age of 60 and are still working - Select Table 3.
5. Click Save.
6. You can process payments as usual once the changes to the settings have been completed.

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

Website: http://ubssoftware.com.my

Access UBS Payroll 2024.0 Release Notes

 

Malaysia Statutory Update

Revise Employee Count Formula on CP8 report 

- Revise formulas for employee count as below Income Tax report CP8 (E-FORM) Page 3 as per advised by LHDN officers:

1) Increase A3 New Employee Count by 1, whenever there's a newcomer to the business 

2) Increase A4 Resigned / Terminated/Deceased Employee Count by 1, whenever and employee has ceased employment / died

3) Conditions i and i apply regardless of how many times the same employee enters and exists the business in the same year.

4) To add count to both A3 and A4 in the CP8 report for the employee that enter and exists the business in the same year, set Employee > Employee details > Employment Info tab > Employment Status Info section For Year field = Joined & Resigned This Year.      

Bank Files Update

Maybank

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

Website: http://ubssoftware.com.my

Access UBS 2023.4 Release Notes

Inventory & Billing

iAssist (Purchase)

introducing the iAssist feature, equipped with drag-and-drop capabilities for an enhanced view of the complete document journey in the transaction cycle. This innovative addition allows users to effortlessly track document progress, gain valuable insights into their position in the transaction cycle, and make informed decisions. This advancement promotes transparency and efficiency, empowering users to manage tasks more effectively and confidently.

Getting started with iAssist

Log in to Inventory and Billing and you will notice a new feature named iAssist, now included in the business transactions list on the left panel – refer image below:

Drag and Drop Master Code to create transaction.

In the Modern View dashboard, you can drag and drop the master code to effortlessly create Sales and Purchase transactions. The customer or supplier code and name will be automatically prefilled for your convenience.

This capability is designed to improve both efficiency and accuracy.

General

View Previous Year Data

To facilitate viewing of historical data from preceding year within the system, you are required to link the accounting folder for accessing the previous year Inventory & Billing data. The same procedure applies for accessing the previous year’s accounting data.

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
Website: http://ubssoftware.com.my

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

Email : infor@vivid.com.my
Website: http://ubssoftware.com.my

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

Email : infor@vivid.com.my
Website: http://ubssoftware.com.my

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

Email : infor@vivid.com.my
Website: http://ubssoftware.com.my