Malaysia E-invoicing initiative is imminent. The government has adopted the PEPPOL (Pan-European Public Procurement Online) standard for e-invoicing, which ensures interoperability and seamless communication between businesses and government entities.
To facilitate the implementation of PEPPOL e-invoicing, the government has established an accreditation system for Peppol-Ready Solution Providers (PRSP). These PRSPs offer Enterprise Resource Planning (ERP) system, Accounting Software, or platforms that offers e-invoices functionality with the capability of sending and receiving e-invoices within the Peppol Network.
Importance of choosing an accredited Peppol-Ready Solution Providers for Malaysia E-Invoicing Software
Choosing an accredited Peppol-ready solution provider for Malaysia e-invoicing software is important for the following key reasons:
- Compliance with regulations: Accredited providers have undergone certification to ensure their solutions meet Peppol standards and Malaysian government’s e-invoicing regulations. This guarantees compliance and acceptance of your e-invoices.
- Interoperability: Peppol-ready solutions can seamlessly integrate with the Peppol network for easy exchange of e-invoices between your business and trading partners within the ecosystem.
- Reliability and security: Accredited providers have demonstrated the ability to maintain integrity, confidentiality and security of invoice data, reducing risks.
- Ongoing support: Providers keep the solutions updated on latest Peppol standards and provide technical support to address any integration, compliance or other invoice processing issues.
- Market advantage: Adoption of accredited Peppol-ready solutions signals your commitment to compliance, security and efficiency – which customers and partners prefer to work with.
But first, the list of PEPPOL-Ready Solution Providers that currently in the process.
List of Peppol-ready Solution Providers (PRSP)
As of the published list of Peppol-ready Solution Providers updated 1st November 2024 by MDEC (Malaysia Digital Economy Corporation).
There are currently 130 providers already submitted their application, with 27 of them already being Accredited while 103 of them still at “Undergoing Accreditation” status.
A few of the accounting software from our previous Top Accounting Software in Malaysia that support e-Invoicing in 2024 article already is on the list.
- AUTOCOUNT – In Progress
- SQL – Accredited
- QNE – In Progress
- BUKKU – In Progress
- Biztory – Accredited
- Xero – Accredited
Accreditation Eligibility Criteria for Peppol-ready Solution Providers (PRSP)
General Criteria
- Company must be registered in Malaysia
- Minimum 51% Malaysian ownership for local companies
- Minimum paid-up capital:
- RM50,000 for majority Malaysian-owned local companies
- RM300,000 for majority foreign-owned local & foreign companies
- Been operating for at least 1 year
- Declarations on legal compliance and not blacklisted
Mandatory Criteria
- Solution can register users on Malaysia SMP to obtain Peppol ID
- Solution captures and maintains Peppol IDs of trading partners
- Solution can create, send and receive e-invoices over Peppol network via an accredited SP
- Solution can create, send and receive credit notes over Peppol network via an accredited SP
- Solution has connection with an accredited Peppol Service Provider (SP)
Read more about accredited Peppol Service Provider on our Top Accounting Software in Malaysia that support e-Invoicing in 2024 article.
In summary, companies must meet registration, ownership, capitalization and legal compliance requirements. Solutions must support core Peppol functionalities like obtaining IDs, sending/receiving e-invoices and credit notes over the Peppol network via an accredited SP.
Accreditation process for Peppol-Ready Solution Providers (PRSPs) in Malaysia
- Submit interest to Peppol Authority (PA) and acquire PRSP Accreditation Application Form
- Submit completed Accreditation Application Form and required documents
- Peppol Authority conducts due diligence assessment of application
- Complete live product demonstration to showcase mandatory technical criteria
- Sign any required agreements with Peppol Authority
- Obtain confirmation of PRSP accreditation from Peppol Authority, valid for 12 months
- Accredited PRSP is listed on communication channels
- Renew accreditation by applying to Peppol Authority within 3 months before expiry of current accreditation status
In summary, the accreditation process requires PRSPs to formally apply, meet eligibility criteria, demonstrate technical capabilities, formally sign up to be part of the Peppol ecosystem, and renew their accreditation annually to continue providing Peppol-ready solutions to clients.
The process ensures that accredited PRSPs meet certain quality standards and remain committed to supporting interoperability through Peppol. This provides assurance to their clients that the solutions truly enable access to the Peppol network for e-invoicing.
Summary
In summary, Malaysian businesses should prioritize accredited Peppol-Ready Solution Providers when selecting an e-invoicing software solution. The Peppol accreditation ensures compliance with national e-invoicing regulations, interoperability with the Peppol network, reliability and security of transactions, and ongoing support.
For more information on PEPPOL-Ready Solution Providers and the accreditation system in Malaysia, visit the official website at PRSP – National E-Invoicing | MDEC
Need help with LHDN e-Invoice compliance? Check out our e-Invoice services – we’ve got you covered!
