RESPONSIBILITY OF WHICH DEPARTMENT ?
Contrary to common belief, E-Invoicing is not just the duty of IT and the Account Department; it requires collaboration from ALL Divisions of the Company.
Read on to discover the changes that need to be in place to ensure a smooth E-Invoicing Implementation.
Sales & Marketing
Department
Ensure businesses remain sustainable, need to understand how e-invoicing works, so that you can address customer’s frustration, smoothen transition into e-Invoicing.
Data Analysis
Analyse the Identity of Existing Customers and identify potential Tax Triggers and Business Issues — Analyse Sales Projection to determine the ratio of Problematic vs Compliant Customers.
Sales Scripts
Prepare “e-Invoicing Scripts” for the Sales and Customer Services Personnel to ensure they can effectively explain to customers the impact of e-invoicing on business SOP. Obtain information requested by e-invoicing Project teams.
POS System
For a company that uses a POS system, ensure the Cashier is trained on the Standard Procedure for issuing Consolidated e-Invoices and can handle the requests for e-Invoices.
Contractual Requirment
Assess whether e-Invoicing will affect current Contractual Obligations, considering whether to add limiting liability for customers’ Tax Deductibility; review the project timeframe and verify transitional matters if they occur between the pre- and post-Implementation Dates.
Existing Stationery
Review and modify existing stationery, especially “Terms and Conditions” of Sales Orders.
Arrange for printing New Forms in advance as many others may be making similar demands on Printing or decide to shift fully to digital forms.
Human Resources
Department
Change in Duties and Employee’s Power and Procedures
- Who is Authorised to do what in e-Invoicing era, which type of supporting documents (Pos or e-invoice), what quantum is allowed.
- Review current Employee benefits to identify and revise the current Employment Contract, Handbook, and Policy to be inline with e-Invoicing Requirements.
- New Procedure to follow for claims and reimbursements, employees well informed on the New supporting documents required.
- Plan the required shift in Manpower within the Company during and after the e-invoicing Implementation.
- Who responsible to request for Self-Billed Invoice.
Account & Finance
Department
Ready to “Dropped 2G Accounting Concept, pick up new 5G Accounting Approach”. This is not just about removing old paper based documentary approach. Understanding the integration of tax and accounting in e-invoicing era, also decide whether to shift in e-Invoicing data entry roles to respective business function.
- Quantify tax impact and the discrepancy between pre and post-e-invoicing implementation.
- Plan the revision of the Chart of Accounts, Volume and Frequency of the Entries, and consider how to provide greater clarity on Tax Deductibility linkage to the respective Account Codes.
- Map out type of Transaction and its corresponding e-Invoicing equivalent and understand with certainty the similarity and their difference. The requirement of each type of e-Invoicing brings to your transaction.
- Review the e-invoicing System to ensure that it creates the Proper and Convenient Entries required for sending and approving incoming e-invoices.
- Plan the timing and frequency to raise self-billed e-invoice.
Procurement
Department
- Analyse the Supplier list and identify impact on risky supplier and assess impact on smooth supply of goods or services post e-invoicing. Prepare contingency plans.
- Communicate with Supplier to understand what is their approach and what are the changes in procurement procedure with e-invoicing implementation.
- Decide WHO and when to approve incoming e-Invoices.
- The Import procedure has also been Updated. Have Deep Discussion with suppliers, the Logistic Companies or Import-Export Agents on post e-oinvoicing HOW TO order goods or services from the supplier Outside Malaysia. How much stock buffer required, identify contingency plan in case importation was stuck
e-Invoicing
Project Team
Ensure things get done within the Right Timeframe and in the Right Order. Build the Right Team to Manage and Monitor the implementation progress. Ensure the team is equipped with project management and change management skill.
Consolidate or e-Invoice?
- Identify whether the company activities are eligible to use the Consolidated e-Invoice instead of “Standard” e-Invoice.
- Weight the pros and cons against actual company’s practical application.
- Troubleshoot on how not to disrupt business processes.
- Take into account customer “Anger Resolution”.
Efficiency is the Key?
- E-invoicing is a SHIFT should helps the company to shift from 2G era to 5G era and become more efficient. It is definitely not “just about changing the accounting software”.
- It is crucial to know where are the tax impact areas IRB is focusing on, remain competitive, and redesign business processes, while maintaining good relationship with clients and suppliers.
MyInvois vs
Third Party vs API
- Determine whether to use the MyInvois system provided by the authority, third-party software or your own API.
- Decide whether to carry out partial system implementation or full system e-invoicing implementation. Done In-House or hire External Aid.
- Drive implementation, monitor progress and review impact report from IT or Tax Consultants.
Review Policy and Procedures
- Prepare NEW Standard Operating Procedure (SOP) to ensure company-wide Operating Policy and Documentation satisfy Tax Deduction and e-invoicing rules.
- Company with internal borrowing and transfer pricing transactions to prepare or Update on Transfer Pricing Policy and Documentation (if relevant).
Planned Practical Learning
- Ditch general understanding of e-invoicing, plan the course content based on specific anticipated challenges from e-Invoicing ensures scripts or SOP created.
- “How e-invoicing will change their work ?” That’s the key question to answer when you planned the departmental based training.
- Example 1: What is the procedure if customers refuse to supply a TIN number.
- Example 2: In a warranty claiming and goods return department, the New Procedure needed.
Identify a Training Plan to disseminate E-Invoicing know-how within the Organisation.
1
What is
e-Invoicing.
What are the Impacts on your work?
2
How to implement
e-Invoicing.
What changes need to be made?
3
Solve + Anticipate
e-Invoicing issues. Troubleshoot & Decision Making.
4
Update
Lastest e-Invoicing Updates. What changes to take into account.
Information Technology
Department
Identify the required IT Capacity and Necessary Changes to adopt e-Invoicing.
Business Process + Assess which e-invoicing models is right for you
Understand the difference between the standard e-invoicing models and more efficient alternative e-invoicing model. Segregate out the good to have and must have Business Processes and features needed by the users. Obtain and study quotations from the Supplier. Plan out the timeframe to complete the shift from zero to hero.
Enhanced efficiency
Some companies may want to take the opportunity to improve efficiency with automation and Industry 4.0, reduce Staff Workloads, and Increase the use of the Internet of Things (IOTs).
Security + Safety
Identify the right level of safeguard to ensure data security and prevent leakage of trade data.
Note: This is just a sample of the things to do base on general departments, your organisation may differ. This list is created as reference to kickstart you e-Invoicing planning and implementation. It is not exhaustive, add more to the list as you go along.
Disclaimer :This infographic is created for educational purposes, it does not constitute an advice or recommendation whatsoever. Do consult a Tax Consultant if in doubt.
Created by
2024 (c) SYNERGY TAS
You are welcomed to use the content stated here of but do Quote Us as the source of the content. 🌞
Happy smooth Implementation!
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