Quick answer: Before you hand your accounts to an accounting firm in Malaysia, gather your company documents, last financial statements and tax returns, bank statements, sales and purchase documents, payroll records, fixed asset list and loan records, and set up access to your bank and accounting software. Tell the firm about any backlog, and agree the scope, deadlines and cut-off date in writing. Directors remain responsible for accounting records under section 245 of the Companies Act 2016.
- Gather company documents, prior accounts, tax records, bank statements and payroll records.
- Tell the firm about any backlog before it quotes.
- Give access that matches the agreed scope and keep software in your company's name.
- Agree a start date and opening balances.
- Directors remain responsible for the records under section 245.
The Preparation Checklist
Twelve things to gather.
- SSM registration documents and company profile.
- Names and details of directors and shareholders.
- Tax, EPF and PERKESO registration details.
- Last financial statements and the latest tax returns, including CP204 records.
- A trial balance or ledger from the previous accountant, if available.
- Bank statements for every account for the period to be done.
- Sales invoices, purchase bills and receipts for the period.
- Payroll records, employee list and statutory payment records.
- Fixed asset list with purchase documents.
- Loan agreements and director loan records.
- Access to the accounting software and bank feeds.
- A list of backlog or missing records.
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Five Steps to Hand Over
List what you have
Gather company documents, prior accounts and tax records.
Mark the gaps
Note missing months, documents or statements.
Set access
Give read access to the systems the scope needs.
Agree the scope
Fix tasks, deadlines, reports and fees in writing.
Start with a cut-off
Agree the date from which the new books begin.
Where Do Owners Go Wrong?
Hiding the backlog
A hidden gap becomes extra work later. Share it so the quote is accurate.
Giving full access to everything
Share only what the agreed work needs and remove access when the work ends.
Starting without opening balances
Without agreed opening figures, the first reports are hard to rely on.
Leaving software in someone else's name
Keep the subscription in your company's name so you keep the data.
Frequently Asked Questions
Quick answers on preparing to outsource your accounts.
What should I prepare before outsourcing accounting?
Company documents, bank access, the last financial statements and tax returns, payroll records, a list of customers and suppliers, a fixed asset list, loan records and access to your accounting software.
Which company documents do I need?
Your SSM registration documents and company profile, a list of directors and shareholders, and your tax, EPF and PERKESO registration details.
What about opening balances?
Provide your last financial statements, and ideally a trial balance, so the new books start from agreed figures.
What if my records are behind?
Tell the firm before they quote. Catch-up work is usually priced separately, and the sooner you share the gaps the sooner they can be fixed.
Do I need to organise documents myself?
Basic order helps. Group them by month, keep them in one folder or cloud storage and name them clearly. The firm can advise on the system.
What access will the firm need?
Read access to bank statements or feeds, your accounting software, and the tax, EPF and PERKESO portals needed for the agreed filings. Give only the access the scope needs.
Who owns the accounting software?
Keep the subscription in your company's name so the data stays with you if you change providers.
What payroll information is needed?
Employee list, salaries and allowances, employment start dates, EPF and PERKESO details, and tax information for each employee.
What should be in a service agreement?
Scope, deadlines, reports, confidentiality, fees and extra-work pricing, responsibilities of each party and the notice period.
How long does onboarding take?
It depends on the condition of your records and the scope. Ask the firm for a timeline.
Who is responsible for the records during handover?
The directors. Section 245 of the Companies Act 2016 makes them responsible, so keep copies and access during the handover.
Should we start at the beginning of the financial year?
A clean start date helps, because opening balances are simpler. It is not the only option, so ask the firm how it would handle a mid-year start.
Sources
Official sources
This page is general information, not legal advice. Agencies change their requirements, so confirm the current rules with SSM and LHDN, or with us, before you act. Checked November 2026.
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