QuickBooks Launches LHDN Compliant e-Invoicing Solution for Malaysian Businesses

Many businesses in Malaysia will soon be required to send individual digital e-invoices to customers in the format outlined by the Inland Revenue Board of Malaysia (LHDN). This national initiative requires businesses to adopt electronic invoicing and report transactions.

What is e-invoicing?

e-Invoicing enables the automated digital exchange of billing documents between a supplier and a buyer. Essential for compliance with local laws, it ensures transparency and the streamlining of invoice handling.

You can learn more about the e-invoicing mandated timelines and what it means for your business here.

Why is e-invoicing important in Malaysia?

The Malaysian government is championing e-invoicing as part of its national digital economy strategy to achieve several objectives:

• Combat tax evasion: Ensure all business transactions are accurately reported to tax authorities.
• Enhance efficiency: Decrease reliance on time-consuming manual invoicing methods.
• Minimise operational costs: Streamline invoicing and payment processes to reduce overheads.

How are we helping our customers with their e-invoicing

The new e-invoicing feature in QuickBooks Online streamlines e-invoicing for customers by automating the entire process, from creation to direct submission to the LHDN. This is achieved through our partnership with Sovos and ensures compliance with the Malaysian tax authority (LHDN) e-invoicing requirements.

Customers are able to validate invoices before sending them to end-users for payment. 

With the consolidated e-invoicing feature, customers can combine and send all of the outstanding invoices for the month in a single invoice to the IRBM for validation. 

This is particularly helpful for businesses like retailers with a high volume of transactions. 

There is also self-billed e-invoicing, which allows customers to record and submit transactions that do not follow standard e-invoicing workflows.

Bringing transparency to your e-invoicing

Our solution allows customers to monitor the LHDN status of e-invoices right from their QuickBooks dashboard.

And easily see e-invoicing status activity for a particular invoice.

On the invoice, customers can also find details including the e-invoice ID and scan a QR code to verify the invoice on the IRBM website if needed.

For accountants, our solution will not only help clients stay compliant with Malaysian tax mandates but also streamline their operations.

What’s next?

You can get a head start by learning more in our e-invoicing help hub. Here you’ll find details on how to set up e-invoicing in QuickBooks online and other useful articles.

Interested in QuickBooks and this solution? You’ll find more information here along with ways to get in touch with our team.