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Going into the new year, the latest Access UBS release on 13 December 2021 will help you to prepare for more sales and make the right purchases with these new features and enhancements.
1. Make better Sales Decisions
In UBS version 2022.1, you will now be able to view the last 3 selling prices, discount amount, credit limit and current outstanding balances. Stop a transaction if the outstanding balance is beyond your comfort level, or if it exceeds your credit limit, or if you will make a loss on the sale. With this information, you can make better sales decisions.
2. Enhance your purchasing process
In UBS version 2022.1, you can decouple the PO to the GRN and the GRN to the invoice. If the supplier’s invoice has an error, you can delete the current invoice and decouple the GRN, create a new supplier invoice with the right details and link the existing GRN to the new invoice. Similarly, if the GRN is wrong, you can now delete the GRN and decouple the PO, create a new GRN with the right details and link the existing PO to the new GRN
3. Window 11 Compatibility
Windows 11 OS was launched in Oct 2021 and PC manufacturers will start to offer their devices with the new OS. As some of our customers may upgrade or replace their current devices, we have tested all Access UBS modules on the Windows 11 operating system to evaluate the compatibility with the new OS.
Learn More about the release of Access UBS 2022.1 Release Videos (1) View credit limit when generating sales invoices Watch Video (2) Check previous selling prices when generating sales invoices Watch Video (3) Relink Goods Received Notes (GRN) and Purchase Orders (PO) Watch Video
Income Tax is a type of tax which government impose on income earned by personal or business, such as monthly salary and business income. According to the law, taxpayers must submit and commit their income tax return annually to determine their income tax.
Income Tax in Malaysia
Range of Malaysia income tax rate fall between 0% to 30% vary according to your salary gain. In YA 2021, All of the resident in Malaysia shall pay his/her income tax rate based on the table as shown below:
Taxable Income (RM)
Income Tax Rate
From 5,000 to 20,000
From 20,000 to 35,000
From 35,000 to 50,000
From 50,000 to 70,000
From 70,000 to 100,000
From 100,000 to 250,000
From 250,000 to 400,000
From 400,000 to 600,000
From 600,000 to 1,000,000
From 1,000,000 to 2,000,000
From 2,000,000 onwards
For Malaysia’s resident, we are able to perform income tax deduction by lower our taxes with some of the ‘spending’ and under certain ‘circumstances’, for example purchasing children needs, person with disability, insurance, medical expense, personal lifestyle and more.
A non-resident individual subject to be taxed at a flat rate of 30% on all taxable income.
Salary Deduction & Income Tax
For Malaysia employee, each of the employee required to contribute EPF, SOSCO and EIS before getting the net paid for the paycheck. Each of the deduction such as EPF, SOSCI and EIS may vary according to the employee income. However, both EPF and SOSCO contributions are able to perform tax deduction (personal) up to a certain limit.
Malaysia 2021 Income Tax update
Malaysia Income tax update every year and then, thus, all Malaysia taxpayer’s personal deduction (YA 2021) had been changed to the accordingly:
Make sure that you submit the right amount of tax deduction for your income tax in 2021!
How to file income tax in Malaysia?
After you perform the deduction for your income tax, do you know that where are you able to submit your income tax?
First of all, what form?
You have to get to know that which form you are going to fill, also each type of forms validity (deadline) are different to each other’s. So what you should know about income tax form?
Resident individuals who do not carry on a business will submit the BE form.
Resident individuals who do carry on a business will submit the B form
Non-Resident individuals will submit the M form.
Deadline submission for each income tax form
BE form, for those resident individual who don’t carry on a business shall submit their form manual filling or e-filling before 30 April and 15 May respectively.
B from, for those resident individual who carry a business shall submit their form manual filling or e-filling before 30 June and 15 July respectively.
Learn more of the different types of income tax form from the LHDN website here.
I am the first time for paying income tax, what should I do?
No worries! Before you submit your income tax form, you need to get ready two of your personal income tax requirements which are your personal income tax number and your PIN number.
How to get your income tax number?
Income tax number can be easily register as a taxpayer via e-Daftar.
How to get your income tax PIN number?
Income tax PIN number can be easily get while visiting LHDN branch or through online (browsing LHDN website). This one-time PIN number is to allow you by first time registering and setup your LHDN account, after that you may use your own password instead of this PIN number.
Finding a quicker solution for solving or calculating your income tax?
iFlexiHRMS is a HR solution that allow you to one click generate each employee EA form for tax submission.
Contact us for more information about personal income tax updates!
https://www.flexiteam.com.my/wp-content/uploads/2021/12/2021-Income-Tax-Cover.jpg7501999Flexi Teamhttp://www.flexiteam.com.my/wp-content/uploads/2018/02/FlexiTeam-Full-1-300x195.pngFlexi Team2021-12-15 17:13:522021-12-15 17:13:57Checklist for Personal Income Tax Relief, Know more about Income Tax
Nowadays in Malaysia, many of the SMEs had started to look out for the trend of digitalization their company procedure for production, human resource, management, sales and even customer services. As spite of that, each part of the fields stated above is able to let a company grow and play an essential role to keep track of company operation and life cycle. Digitalization is a process by allowing your process or method for production, HR etc, more efficiently and efficiency by ‘shorten’ the process of traditional way. Let take an example from HR and how does digitalization is able to help your company grow.
HR – Human Resource is an important role and share the exact lifetime with the company. HRMS is also known as Human Resource Management System, or called HR system is an essential digitalize process to simplify HR procedure including attendance capturing, employee leave balance, employee salary calculator, allowance & bonus, claims and etc. Which is complicated and multitask if all of the process is handled by one person with many of employee. However, with a HRMS, can come in handy by easily one click generate employee payroll with all of the deduction and allowances. The effectiveness from HRMS will bring company business grow steadily.
So what does HRMS provide by allowing company HR capable to perform his/her task easily?
iFlexiHRMS offer two core module which are attendance solution and payroll system. Each of the modules are integrated with each other. With attendance module, also known as time management system, allow company HR to one click import employee attendance record and process attendance result immediately, the result can be printable and presentable as an attendance report which are usable for company management meeting.
On the other hand, iFlexiHRMS payroll system is capable for handling employee salary calculator during month end or payday. The payroll system module is simply integrated with attendance module by importing the attendance result to the payroll system and process employee salary calculator immediately. The payroll system is able to calculate employee salary based on the attendance which captured from the attendance module. The integration process is not required to pass/cross department nor software to complete.
Why you should apply digitalization into HRMS today?
iFlexiHRMS offer attendance time management system and payroll system solution to simplify your HR process. So why you should apply digitalization into HRMS?
Reduce human error
For each traditional company HR, it is hardly to avoid human error or human mistake while recording attendance or calculate employee payroll. As such, the process of digitalization by using HRMS will be able to save those HR by reducing human mistake and greatly increase the accuracy for calculating employee payroll.
Save time save cost
With the help from iFlexiHRMS, company HR is able to save time by one click capturing employee attendance and process payroll calculation instead of using a book to record and a calculator to perform the math.
Various Presentable Report
iFlexiHRMS is capable for generating various presentable attendance and payroll report based on your format customizing. It is easy and useful for monitoring employee behavior and record.
Alert & Reminder
iFlexiHRMS allow you to set alert & reminder for allowing you to save employee confirmation reminder, working permit expired reminder, resignation and other reminder to allow company HR to keep track of every situation of our employees.
Better integration across other HRMS software
iFlexiHRMS is able to link and integrate from attendance module to payroll system, employee’s attendance and overtime will be able to directly configure and calculate its salary. Moreover, iFlexiHRMS is also linkable with attendance devices, which capture employee attendance through a machine with biometric or proximity card.
Add-on module to complete your personal HRMS needs
To compete with all HRMS software, iFlexiHRMS offer a various of add-on module in order to fulfill different company’s needs. Most famous add-on module such as leave module, welfare module and canteen management system module, works well with iFlexiHRMS Payroll system.
To increase the efficiency for a company HR process, iFlexiHRMS provide the mail merge features by allowing you to one click send out employee confirmation email, company notice etc.
Aside for customizable payslip format, iFlexiHRMS is able to email employee payslip to their personal email. This secure payslip come with a pin number, which only send to each employee individually, to unlock their email payslip.
Data import from Excel
QDE is also known as quick data entry, which allow company HR to perform actions that update more than one employee data at the same time. This features come in handy especially for editing employee attendance error, payroll system OT adjustment and allowances. Instead of adding one by one from the book, one second that is what you need to update all the employee data.
Other platform for performing HRMS
iFlexiHRMS offer attendance and payroll system in software and also for web platform and mobile solution. Employee is able to take attendance over web platform and mobile, the newest technology takes your company digitalization process by fasten and simplify your HRMS procedure.
Every companies talks about digitalization now, are you ready to make a move together with iFlexiHRMS by simplifying your company HR process?
Want to get to know more about iFlexiHRMS, click the link here or contact us now!
https://www.flexiteam.com.my/wp-content/uploads/2021/12/HRMS-digitalization-cover.jpg7501999Flexi Teamhttp://www.flexiteam.com.my/wp-content/uploads/2018/02/FlexiTeam-Full-1-300x195.pngFlexi Team2021-12-02 12:03:412022-06-01 16:25:30How does HRMS attendance and payroll system capable to bring success to your business?