E-Invoice Accounting and Its Implementation Mechanism

11 Jun, 2024, Wyndham Grand Bangsar Kuala Lumpur

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TAN KOK TEE

DBA, MBA-Finance, FAIA, MIPA, MCCS, ACTIM,

International Accountant (UK),

Public Accountant (Aust.)

Certified Company Secretary.

HRDF Certified Trainer

Registered GST Agent.

 

MR. TAN KOK TEE has 40 years of working experience in Accounts & Financial, Strategic and General Management field. He has held a variety of leadership and senior management roles in various organizations, starting in the Accounts & Finance Department until CFO level and the last being Group Chief Executive Officer. More than half of these times were spent in the Manufacturing, Marketing & Distribution and Services organizations.

 

He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants, Aust.; Certified Commercial Accountant, (M); Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries (M) and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s (HRDF) Train The Trainer Certificate since 2009, a GST Agent registered with MOF & Holder of the GST MyGCAP certificate from RMCD and a Life Member of the Malaysian Institute of Directors.

 

Mr. Tan has been involved in Advisory, Training and Facilitation since beginning 2009. To-date he has conducted about 400 training workshops throughout Malaysia on topics on Budgeting & Cashflow Planning; GST; SST; Practical Accounting for Accounting Staffs; Reading, Analyzing and Interpreting Financial Statement; Accounting and Finance for Non-Finance Managers; Customers Credit Evaluations and Collection Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the Strategic Planning and Management and Financial Statement Hands On Application to MBRS, for both in-house as well as public.

 

Among the organizations that Tan Kok Tee has been providing training for, include Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, CPA Australia, Malaysian Institute of Chartered Secretaries and Administrators, Selangor State Human Resource Development Centre (SHRDC), Negeri Sembilan State Skills Development Centre (NSSDC), Penang Skill Development Centre (PSDC), NGOs and many others public training providers.

 

His other clients include Shin Yang Group, MIRI, Bintulu Port, Deleum Bhd., Boustead Plantation Bhd., Takahata, FBK Manufacturing, Brothers Industries, Integrated Logistics, Mega Logistics, Chung Hwa Picture Tubes, Ohara Melaka, Safran Aerospace, NEC Corp. of Malaysia, Kobe Precisions, Tecktronic & Sons Holdings, Julie’s Biscuits, Ornapaper Melaka, Sunway University, Sime Darby Properties, Lion Group and many more.

 

To-date Mr. Tan has trained more than 15,000 Executives. He combines a wide range of practical and hands on training experience in lively and challenging interactive training sessions

Venue Details

Wyndham Grand Bangsar Kuala Lumpur
Jalan Pantai Baharu, Jaya Tower 3,
Phone : 03-2298 1888

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Fundamentals of E-Invoice
  • E-Invoice Mechanism
  • Application for Accounting & Other Business Transactions
  • Readiness for Implementation
OBJECTIVES

The application of E-invoice in billings of commercial activities and the capturing of cost in Accounting and for tax purpose as announced by LHDN to be implemented in phases from August 2024 onwards, is not solely a tax matter of about how much tax to pay or when to do your tax filing. A major part of it is all about your Accounting for the Revenue and Cost of the organization and the Business Operation at large, such as Sales, Purchasing, HRM and all other operating staffs.

 

Hence this course is to provide the necessary content of E-Invoice mechanism and to equip all Accounting and Other Operational Staffs on the organization’s requirement to implement E-Invoice as per LHDN’s requirement.

 

The need to know when to issue an E-Invoice to customers to capture the revenue, when to issue self-bill invoice to capture the cost, when suppliers are not required to issue E-invoice, etc. are all essential knowledge and skills that all staffs in the organization’s accounting and other departments will need to know and possess. This Course is designed to achieve that goal.

 

It is therefore essential that all the Accounting and other Operational function staffs, get equip with the E-Invoice mechanism in our daily Accounting and Business operation. This Course will equip you to do just that.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding the mechanism of E-Invoice.
  2. Developing skills for issuing invoice and managing communication to handle
    validation errors, rejections and cancellations.
  3. Handling E-Invoice under different scenarios.
  4. Preparing and get ready for E-Invoice implementation.
  5. Gaining guidance on actions to be taken to capture revenue and cost for your
    business operation and for tax purposes under LHDN’s 13 Focus Points for E-Invoice.
WHO SHOULD ATTEND
  • Entrepreneurs, SME Business owners & Directors.
  • Accountants, Accounts Executives and all operational Accounting Staffs,
  • Company Secretaries and Secretarial Assistance
  • Other Functional (Sales, Purchasing, Human Resource, etc.) Managers, Executives and Staffs.
  • All other persons who are involved in and/or interested to learn about E-Invoice mechanism.
METHODOLOGY
  • Interactive Lectures
  • Discussion
  • Questions & Answers
COURSE CONTENT
9:00

FUNDAMENTALS

  • What is E-Invoice?
  • E-Invoice Process Flow
  • Compulsory and Optional information for E-Invoice
  • Worldwide development of E-Invoice
  • Malaysian implementation threshold and phases.
  • Scope of coverage: - (i) Parties, (ii) Offences, and (iii) Foreign Income.
  • Impact of E-Invoice on business operation after full implementation by
    IRB w.e.f. 1/7/2025.
  • Scenarios of one party implemented E-Invoice whereas the other parties have not.
  • Parties and Activities exempted from E-Invoice
  • Benefits of E-Invoice to government and to tax payers
  • Penalties for non-compliance
10.45

E-INVOICE MECHANISM

  • Two transmission mechanism and the steps involved:
    - IRB’s MyInvois model (cloud based)
    - Application Program Integration (API) model
    - Software development kit. (SDK)
  • Salient Points including:
    - E-Invoice Creation and submission to IRB for validation
    - Error in Validation, Rejections and Cancellation
    - Notification of validation
    - Sharing of e-invoice to customer
    - Window time for rejection/cancellation of invoice by buyer
    - Storing of e-invoice in IRB’s porter
    - Information to be disclosed:
  • Compulsory information
  • Non-compulsory Information
1:00 Lunch
2:00

APPLICATION FOR ACCOUNTING & OTHER BUSINESS TRANSACTIONS

  • E-Invoice treatment for:
    - Basis of issuance of e-invoice:
    • Individual transaction e-invoice
    • Consolidated transactions e-invoice
    • Industries where consolidated e-invoice is not allowed.
    • Self-billed e-invoice for specific situations
    • Periodic basis e-invoice
  • - E-invoice treatment for:
    • Reimbursement and Disbursements,
    • Penalties charge to customers
    • Employment perquisite and benefits, allowances, etc.
    • Employees Claims – mileage, entertainment, hotel, tolls,
    short hours parking, Telephone, Grab
    Car travelling, Medical, seas expenses,
    etc.
    • Import and export transactions
    • Commission payment to agents, dealers and distributors
    • Rebates given to customers
    • Interest received from Banks
    • Sales with trade-ins like car, goldsmith, etc.
    • Profit distribution
    • Foreign income remit back to Malaysia.
    • Rental or expenditure incurred from exempted parties
    • E-Commerce
    - Open discussions on individual organization’s transactions
3:45

READINESS FOR IMPLEMENTATION

  • Avenue/Guide for Taxpayers familiarization
  • Steps to take – What should you do now
    - Employees handbook
    - Policies and procedures for different basis of e-invoice – (see session 3a)
    - Gap arising and resolution
  • Grants and Tax incentives available for e-invoice implementation
  • Change Management
5:00 End of Course