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Frequently Asked Questions
Malaysia is rolling out mandatory e-invoicing for businesses in stages, starting this year (2024). This aims to improve efficiency and streamline operations. The requirement will kick in based on a company’s annual revenue, starting from August 1st, 2024.
The Inland Revenue Board of Malaysia (IRBM) has implemented regulations that cover standardized formatting, mandatory data fields, digital signature requirements, validation and approval processes, integration with tax authority systems, and record-keeping obligations. Compliance with these regulations is essential to meet regulatory requirements.
E-invoicing in Malaysia offers a win-win situation for businesses. By automating tasks, reducing errors, and simplifying processes, businesses save time, money, and resources. This translates to faster invoice processing, improved cash flow, easier tax compliance, seamless integration with digital platforms, enhanced traceability and transparency strengthened supplier-customer relations.
Businesses of all sizes, including micro-businesses, can leverage Greenifyzen’s services to meet their needs. Our solutions enable automatic validation and clearance of invoices through middleware via seamless integration with user ERP/internal systems, simplified e-invoicing for small businesses via excel, and an intuitive billing portal for manual entry.
PEPPOL is a secured international network that allows you to send and receive business critical documents with everyone who is registered as a part of PEPPOL network, in a standardized format.
In a usual business scenario today, an PDF e-invoice is sent to the buyer’s organisation by email. This requires your buyer to insert manually all the details of the invoice into their own finance system. An e-invoice solution speeds up the transmission of data automatization process, delivering invoices from a supplier system to a buyer system without human intervention.
| # | Feature | Traditional Invoicing | E-Invoicing |
|---|---|---|---|
| 1 | Format | Paper-based | Electronic (EDI, API) |
| 2 | Data Capture | Manual data entry | Automated data transfer |
| 3 | Storage | Physical storage | Electronic storage |
| 4 | Security | Vulnerable to forgery | Secure encryption |
| 5 | Processing Efficiency | Time-consuming | Faster processing |
Greenifyzen e-invoicing simplifies digital transactions between businesses by using the Peppol network and its standard document format. This means companies can easily exchange invoices electronically with any other business connected to the Peppol network.
Yes, Greenifyzen can function as a non-PEPPOL solution. This means it can meet the minimum requirements for Malaysia’s Inland Revenue Board (LHDN) e-invoice system, even for those who don’t use PEPPOL.
As long as the buyer’s business in another country is on the peppol network, you can receive and send e-invoices using our greenifyzen platform
Greenifyzen offers three e-invoicing solutions to cater to businesses of all sizes:
Seamless ERP/Internal System Integration: This solution connects your existing ERP system directly to LHDN for automatic e-invoice generation.
Simplified E-Invoicing for Small Businesses: This solution uses a user-friendly Excel connector for businesses without complex ERP systems.
Intuitive Billing Portal for Manual Entry: This web-based portal allows manual invoice entry and integration with LHDN for e-invoice generation.
Absolutely! Greenifyzen offers a simplified e-invoicing solution specifically designed for small businesses. Our user-friendly Excel connector & uploading function allows you to generate e-invoices easily without needing a complex ERP system.
Greenifyzen also provides an intuitive billing portal for manual invoice entry. This user-friendly interface is ideal for businesses with occasional e-invoice needs or those transitioning from manual processes.
Streamline Your Invoicing Process Today!
About Us
We automate e-invoicing for LHDN compliance, AR and AP processes, and provide various IT services. Our solutions support both Peppol and non-Peppol environments, driving digital transformation for your business. Streamline your invoicing and focus on growth with our efficient solutions.