Managing payroll can be a complicated and time-consuming process. There are many statutory compliance requirements, which makes it risky if not managed well. Which is why, many business owners prefer to outsource payroll to experts in the field to ensure that it’s done accurately and give them more time to focus on other matters. Outsourcing payroll can also open you up to other opportunities including the benefits of seamless payroll management including electronic pay slips, better employee engagement via technology and ensures that each employee gets paid the right amount at the right time.
Similarly, managing accounting and bookkeeping can be complicated, especially with the low supply of qualified accounting staff and high staff turnover experienced in the industry. Further, re-training accounting staff can be costly especially in keeping updated with the ever-changing reporting requirement and taxation matters imposed by the authorities. Outsourcing the function offers independent checks on financial transactions, further a complete general ledger including subledgers, journal entries, trial balance and financial statements can be maintained accurately, timely and reliably for decision making. Employing inexperienced and unqualified accounting staff can be costly than initially thoughts and can cause complication in generating a meaningful accounting document.
At Megat Faizal Musa & Co, we specialize in accounting, bookkeeping and payroll outsourcing services for all industries in Penang. Contact us at 010-3812996 or browse our website at www.mfmco.my for more details.
We are a multilingual firm, proficient in English, Malay, and Chinese languages.
For English/Malay speaking clients, please contact:
E-mail: megat.faizal@mfmco.my
Mobile: +6010 372 6830 (Call/WhatsApp)
For English/Chinese speaking clients, please contact:
E-mail: lee.mf@mfmco.my
Mobile: +6010 381 2996 (Call/WhatsApp)