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AutoCount Standard E-Invoice: Local Business

AutoCount Standard E-Invoice for Local Businesses: A Complete Guide

Efficient invoicing is vital for local businesses to streamline operations and comply with Malaysian government regulations. The AutoCount Standard E-Invoice is specifically tailored for businesses to create, validate, and manage e-invoices for transactions requiring tax deductions. With seamless integration into the LHDN MyInvois Portal, this system ensures compliance with statutory requirements while simplifying workflows.

This comprehensive guide will walk you through all aspects of using AutoCount Standard E-Invoice, from setup to troubleshooting, enabling your business to harness its full potential.

Introduction to AutoCount Standard E-Invoice

The AutoCount Standard E-Invoice is designed to automate and centralize invoicing processes for businesses dealing with transactions that require tax compliance. It simplifies the preparation, approval, and submission of e-invoices to ensure they meet LHDN standards.

AutoCount Standard E-Invoice:Local Business

Key Features of AutoCount Standard E-Invoice

Approval Workflow Module

Invoices are saved as drafts and submitted to LHDN MyInvois Portal only after approval.

Real-Time Integration

Automatic API-based submission to the LHDN MyInvois Portal.

QR Code Validation

Invoices receive a QR code upon approval, verifying compliance with LHDN regulations.

Error Prevention

Real-time validation ensures all mandatory fields are complete and formatted correctly.

Understanding the Role of TIN (Tax Identification Number)

The Tax Identification Number (TIN) is a critical component of Standard E-Invoices in Malaysia.

  • What is a TIN?

    A TIN is a unique identifier issued by tax authorities, ensuring that every invoice is traceable to a legitimate business entity.

  • Why is TIN Essential for Standard E-Invoices?

    TIN is required for invoices where tax deductions apply.
    Missing or incorrect TINs result in invalid invoices, causing delays or compliance issues.

  • Common Issues with TIN and Solutions

    Incorrect Formatting: Avoid spaces or extra characters in the TIN.
    Invalid Numbers: Always double-check TINs for accuracy.
    Missing TINs: Ensure clients provide their TIN before invoice creation.

Setting Up AutoCount for Standard E-Invoices

Step 1: Access Tax Entity Maintenance

  • Navigate to Tax > Tax Entity Maintenance in AutoCount. This is the configuration hub for tax-related settings.

Step 2: Fill in Necessary Details

  • Key fields include:
    • TIN: Enter the client’s TIN for Standard E-Invoices.
    • Business Registration Number: Use the SSM registration number of the client.
    • MSIC Code: Input “00000” if the MSIC code is unavailable.
    • Address and Phone Number: Follow AutoCount’s format requirements strictly, ensuring no spaces or unnecessary characters.

Step 3: Validate and Save Information

  • Review all entries carefully. Errors or omissions in TIN, MSIC code, or contact details can cause invoice validation failures.

Creating an Invoice Using AutoCount Standard E-Invoice

Step 1: Navigate to the Invoice Section

  • Access Sales > Invoice > New to initiate a new Standard E-Invoice.

Step 2: Input Client and Transaction Details

  • Include:
    • Client details such as TIN, business name, and contact information.
    • Transaction specifics, including itemized goods or services and their associated costs.

Step 3: Save and Approve

  • Requestors can save the invoice as a draft for review or submit it for approval.
  • Approvers finalize and approve the invoice, triggering automatic submission to LHDN MyInvois Portal.
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Step 4: Submit and Validate

  • AutoCount will automatically submit the invoice to LHDN MyInvois Portal upon approval. If the information is valid, the invoice will receive a QR code confirming its compliance.

Previewing and Validating E-Invoices

How to Check Invoice Status?

Once submitted, the invoice status will reflect as Valid or Invalid. Invalid statuses typically stem from incomplete or incorrect details.

Generating and Previewing Invoice Documents

Double-click the invoice document and select Preview > Invoice (Malaysia e-Invoice) to view the finalized invoice.

QR Code Validation

Validated invoices will include a QR code, which serves as proof of compliance with LHDN MyInvois Portal requirements.

Troubleshooting Common Issues

AutoCount’s flexibility allows users to apply different credit control settings to various documents:

  • Invalid TIN Submission

    • Problem: The TIN is incorrect or missing.
    • Solution: Verify the TIN and ensure it adheres to the required format.

  • Submission Delays

    • Problem: Invoice submission remains pending.
    • Solution: Confirm that approvers have finalized the invoice.

  • Formatting Errors

    • Problem: Errors in phone numbers or addresses prevent submission.
    • Solution: Correct the formatting to match AutoCount's specifications.

Advantages of Using AutoCount Standard E-Invoice

  • Streamlined Approval Process

    AutoCount’s approval workflow ensures that invoices are reviewed thoroughly before submission.

  • Integration with LHDN MyInvois Portal

    Integration with LHDN MyInvois Portal

  • Real-Time Validation

    AutoCount ensures all invoices meet compliance standards before submission, improving accuracy and efficiency.

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Conclusion

The AutoCount Standard E-Invoice is a game-changer for local businesses, ensuring compliance and efficiency in managing tax-compliant invoices. With features like real-time validation, seamless integration, and QR code verification, AutoCount enables businesses to simplify operations and focus on growth.

FAQs

It’s an e-invoicing system designed to create, validate, and manage invoices in compliance with Malaysian tax regulations.

Invoices are saved as drafts and submitted automatically to LHDN MyInvois Portal upon approval.

Review the details, correct errors, and resubmit the invoice.

TIN ensures the invoice is associated with a valid business entity and allows tax deductions.

No, approved invoices require resubmission for updates.

It confirms the invoice’s compliance with LHDN MyInvois Portal standards.

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