Outsourced monthly bookkeeping: when the bank asks for your accounts, they are ready
Hand your receipts, invoices and bank statements to a professional bookkeeping team, who record them, reconcile your bank and prepare basic financial statements every month. You focus on the business, with no last-minute rush at year-end closing.
Outsourced monthly bookkeeping means handing your company's receipts, invoices and bank statements to a professional bookkeeping team every month. They record them, reconcile your bank accounts and prepare basic financial statements (profit and loss statement and balance sheet) each month. BookKeeper offers this service to Sdn Bhd companies and Enterprises (sole proprietorships and partnerships) in Malaysia, from RM280/month, in KL, Selangor, Penang, Seremban and remotely anywhere in Malaysia.
- The Starter plan starts from RM280/month, for companies with up to 50 transactions a month.
- Every plan includes recording documents, bank reconciliation, basic monthly financial statements and year-end closing.
- Management reports are included from the Growth plan (from RM480/month) upwards.
- Accounts and documents must be kept for at least 7 years (section 82, Income Tax Act 1967).
- Tax computation and filing, audit, company secretary services and SSM annual filings are not included in the monthly fee and are quoted separately.
The bank manager says: "Boss, send me your last six months of accounts."
Thursday afternoon, the bank calls. Your company's overdraft is up for renewal, and the manager wants to see your profit and loss statement and balance sheet for the last six months.
You promise to send them next week. Only after hanging up do you remember that your books were last fully done at the end of last year, and every document since then is still waiting outside the accounting software.
Monthly bookkeeping exists for moments like this. When your books are closed every month, you can open the folder and hand over the numbers whenever the bank, shareholders or tax agent ask.
What work does outsourced monthly bookkeeping cover?
Every plan includes the first five items below. The sixth, management reports, is included from the Growth plan upwards. The exact scope is confirmed in your quote.
Recording documents
Sales invoices, supplier bills, receipts, e-wallet and platform settlement statements are recorded under the right accounts. If documents are missing, we send you a list.
Bank reconciliation
Each bank account is matched line by line against the bank statement. Your books only count when the balance in the books matches the balance at the bank.
Basic monthly financial statements
A profit and loss statement (P&L) and balance sheet, so you know whether you made or lost money this month, and whether cash is tied up in stock or in receivables.
Deadline reminders
Advance reminders to you and your tax agent for deadlines such as EPF, SOCSO, EIS, PCB, SST-02 and Form C.
Year-end closing and handover
Year-end closing, with your accounts prepared for your auditor or a partner tax agent so the audit and tax filing can follow on.
Management reports (from Growth)
Basic financial statements, plus receivables and payables ageing, a cash flow summary and a one-page summary of key points.
Basic financial statements: a monthly profit and loss statement and balance sheet. Management reports: basic financial statements plus receivables and payables ageing, a cash flow summary and a one-page summary of key points.
What is not included in the monthly fee?
Tax computation and filing, audit fees, company secretary services and SSM annual filings, catch-up bookkeeping and SST registration are all outside the monthly bookkeeping fee.
Form C, Form B and CP204 are quoted separately by a partner licensed tax agent. SSM annual filings are company secretary work and are handled by your company secretary. For a backlog of old records, see our catch-up bookkeeping service.
Say you run an IT services company in Subang Jaya as a Sdn Bhd, with four employees and about 120 bank transactions a month. In the past you handed over a whole year of documents only in October, and often spent time going back and forth over a few transfers that did not match.
After switching to monthly bookkeeping, you upload your documents before a fixed date each month and receive last month's reports on the date agreed in the service agreement. One month the report shows outsourced development costs suddenly up by 20%. A check reveals that a subcontract for one project was not repriced in time. You would never spot this if you only looked at the books at year end.
How do I start outsourcing my bookkeeping? What are the steps?
A 15-minute WhatsApp chat
Tell us your company type, industry, roughly how many transactions you have each month, and what software you use now. You do not need to prepare any documents first.
Assessment and quote
After looking at a few months of sample bank statements, we give you a monthly fee based on your transaction volume. Any backlog of old records is quoted separately as catch-up bookkeeping.
Agree how you submit documents
WhatsApp photos, Google Drive or your accounting software: choose whichever is least hassle for you. The team gives you a monthly document checklist.
Monthly recording and reconciliation
You submit documents by the agreed date each month. The team completes the recording and bank reconciliation, and collects any questions to ask you in one go.
Receive reports, and meet if needed
You receive basic financial statements every month. From Growth upwards you also get management reports, and Pro adds one online owner meeting a month.
Roughly how much does outsourced monthly bookkeeping cost?
The fee mainly depends on the number of transactions. One transaction means one line of money in or out on your bank statement, or one document that needs to be recorded.
| Plan | Starting price | Suitable for | Reports |
|---|---|---|---|
| Starter | From RM280/month | Up to 50 transactions a month; new companies, small Enterprises | Basic financial statements |
| Growth | From RM480/month | Up to 150 transactions a month | Management reports |
| Pro | From RM880/month | Up to 400 transactions a month, including payroll for 10 employees and a monthly online owner meeting | Management reports |
| Custom | By quote | Over 400 transactions, multiple companies or branches | By quote |
These are starting prices; your final price is confirmed in a quote. Prices exclude service tax. If the service provider is registered for SST, 8% is added. For full details and add-on services, see our pricing page, or read how bookkeeping fees are calculated in Malaysia.
Why does the law require companies to keep proper books?
Because both LHDN (Inland Revenue Board, IRBM) and SSM (Companies Commission of Malaysia) require complete accounts and documents, kept for at least 7 years. This is set out in section 82 of the Income Tax Act 1967 and section 245 of the Companies Act 2016.
Some owners hear that SSM has relaxed the audit exemption thresholds and assume they no longer need to keep books. In fact, private limited companies that meet the conditions of Practice Directive 10/2024 are only exempt from the audit. They still have to prepare unaudited financial statements for SSM and still have to file tax. For financial periods starting on or after 1 January 2026, the thresholds are turnover of RM2 million, total assets of RM2 million and 20 employees; the company must meet two of the three, and must meet them consistently. For details, see can your company be exempt from audit.
e-Invoice also makes your accounts more transparent. The e-Invoices you issue and receive are all recorded on MyInvois, so the numbers in your books should match the numbers in the system. Ask an accountant to confirm what applies based on your company's details.
Sources: LHDN, SSM, LHDN e-Invoice
Who should outsource bookkeeping, and who may not need to?
It suits you if:
- You have just set up a Sdn Bhd, have not hired a full-time accountant, and do not want to learn bookkeeping yourself
- You have dozens to hundreds of transactions a month and still reconcile the bank yourself at home at night
- Your bookkeeper left and your books stopped six months ago
- You run e-commerce, food and beverage, trading, logistics or a clinic, with many mixed documents
- You need monthly numbers to discuss loans with the bank or report to shareholders
If your company already has a stable full-time accountant and your books are closed on time every month, outsourcing may not be worth it. If you are still deciding, read hiring an accountant, hiring a bookkeeper or outsourcing first.
If your books are already several months behind, see our catch-up bookkeeping service first. Clearing the old records before starting monthly bookkeeping makes everything run more smoothly.
Who does your bookkeeping?
BookKeeper is operated by O2O Alliance Sdn. Bhd. Bookkeeping work is carried out by partner professional bookkeeping and accounting teams, and tax filing is handled by partner licensed tax agents.
Send us your most recent bank statement and we will estimate your transaction volume and monthly fee.
Ask About Monthly Bookkeeping on WhatsAppQuestions you may still have
Tap a question to see the answer. Can't find yours? Just ask us.
Ask on WhatsAppDo company accounts have to be done every month?
The law does not require you to record transactions every month, but your accounts and documents must be kept complete for at least 7 years, and you need financial statements and a tax return every year. The benefit of doing it monthly is that mistakes are caught in the same month, instead of catching up twelve months at year end.
What does outsourced monthly bookkeeping include?
Every plan includes recording documents, bank reconciliation, basic monthly financial statements (profit and loss statement and balance sheet), deadline reminders, and year-end closing with accounts prepared for your auditor or tax agent. Management reports are included from the Growth plan upwards.
What documents do I need to provide?
Usually your monthly bank statements, sales invoices, supplier bills, receipts, payroll records, and any loan or tenancy documents. You can send photos or scans, or share a cloud folder. The team will tell you the easiest way to submit them.
I already use SQL Account or AutoCount. Can I keep using it?
We can discuss keeping it. Common Malaysian software such as SQL Account, AutoCount, Bukku, Xero, QuickBooks Online and Financio can all be assessed. If you do not use any software yet, the team will suggest a suitable option for your company's size.
How is the monthly bookkeeping fee calculated?
Mainly by the number of transactions each month. One transaction is one line of money in or out on your bank statement, or one document that needs to be recorded. Prices start from RM280/month (up to 50 transactions a month). The final price is confirmed in a quote and excludes service tax.
If my company qualifies for audit exemption, do I still need bookkeeping?
Yes. SSM's audit exemption only removes the audit step. The company still has to prepare unaudited financial statements for SSM and still has to file tax with LHDN. Both depend on clear, complete books.
