Finexus has unveiled a suite of four LHDN e-Invoicing models catering to a wide array of businesses, including MSMEs, SMEs, retailers, corporations, MNCs, and banks.
As a trusted Regulatory Compliance provider for over 20 years, serving over 100 ASEAN banks, regulatory bodies, and FinTech companies, we are dedicated to ensuring 100% LHDN compliance for companies ahead of the 1st of August LHDN mandate.
Our LHDN e-Invoicing models comprise:
1) Enterprise Model (RMIT Compliance and Dedicated Infrastructure)
Customised solution with a single-tenant database, ideal for banks or insurance companies
Integration of multiple existing company systems with LHDN, via middleware AREMA on a unified platform
Special features include compliance with industry requirements, managed services, real-time API, auto batch upload, and dedicated 24/7 technical support
2) Premium Model (Automation)
Customised solution with a multi-tenant database, designed for companies with existing accounting or ERP systems such as SAP, Sage, etc
Integration with existing company accounting or ERP systems with LHDN, via middleware AREMA
Special features include real-time API, auto batch upload, and technical support during business hours
3) Standard Model (Self-Service)
Self-service solution with a multi-tenant database, tailored for SMEs and MSMEs
Manual key-in or bulk upload of invoices on the AREMA Web Portal
Special features include easy dashboard reports, and email support with a response within 2 business days
4) Retail Model (Consumer-Self-Generate e-Invoice)
Self-generate solution for walk-in or online customers, suitable for retail businesses
Utilisation of our Point-of-Sales (POS) to generate receipts with LHDN QR Codes for customers to scan and self-generate LHDN e-Invoice at their convenience
Special features include acceptance of various payment methods (DuitNow, Mastercard, Visa, Alipay), option for integration with existing outlets’ retail POS systems, and general call centre support during business hours
Businesses can combine models according to their specific needs (e.g. Enterprise Model and Retail Model), with options to white-label our AREMA LHDN e-Invoicing solution or POS, for branding purposes.
The process of working with Finexus offering middleware AREMA involves:
1) Customisation:
Setting your workflow and rules for taxpayer business, validation, and exception handling
2) Integration:
Integration of multiple business entities on one, unified AREMA platform with minimal changes to your systems, even for future LHDN enhancements, which saves you years of system upgrades
AREMA preloaded with LHDN validation rules (i.e. incorrect TIN) with continuous updates according to future LHDN enhancements
Mapping of tax payer host data items to our AREMA staging data items
3) Storage:
Storage of additional data above LHDN’s required 55+ data items on AREMA for 7 years, in compliance to LHDN, or more
Bank-grade secure environment with PCI DSS Level 1 and BNM RMiT compliance
Stringent security at application and system level against unauthorised access
4) Ease of Use:
Streamlined e-Invoicing processing with features like auto batch upload, user enrichment ability, built-in data entry screens, and automated archival and housekeeping functions
Simplified accounting processes including invoice processing (individual/consolidated invoices, credit, debit, and refunds), amendment note capturing, and daily reconciliations between your accounting system, LHDN, and AREMA
Automated notification and alerts via SMS and email for validated e-Invoice, and incomplete, error, and exception transactions
About Finexus:
Finexus is a 100% Malaysian technology company established in 2000, headquartered in Kuala Lumpur, renowned for providing critical regulatory payments and reporting systems to the banking industry, using SaaS on its cloud data centres, in Kuala Lumpur and Cyberjaya.
Over 700 professionals in Finexus are now serving over 100 Banking, Regulatory Bodies, and FinTech companies across ASEAN.
Finexus is committed to delivering bank-grade solutions of top-notch quality, professionalism, and commitment.
For a competitive solution tailored to your business, contact Finexus today. Time is of the essence!
This article is provided by Finexus.
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