12 Best Accounting Software in Malaysia (2026): Prices and e-Invoicing Compared

Choosing accounting software in Malaysia got simpler on 1 September 2026. LHDN raised the e-invoicing exemption to RM3 million in annual turnover, a move it says takes more than 1.1 million micro, small and medium businesses out of the mandate. So the question most owners face isn't "which software can talk to MyInvois?" any more. Most of them can. It's which one fits your business, your budget and the accountant who closes your books.

We compared 12 of them on Malaysian pricing and e-invoicing, checked against each vendor's own pages in September 2026.

Quick answer: AutoCount and SQL Account are the safest local picks for most SMEs, and both run on desktop or in the cloud. Bukku is the cheapest way into cloud accounting, with a free plan and e-invoicing on every tier. Xero and QuickBooks Online suit businesses that want a large app ecosystem, and both now include MyInvois e-invoicing. If you run an accounting firm, the ledger matters less than the hours your team spends typing documents into it. That's the job tofu takes over, on top of Bukku, Xero, QuickBooks and Zoho Books.

A note on bias: we make tofu. It isn't a ledger, so it isn't ranked in the 12 below. It gets its own section after the list, and you can skip it if you're a business owner choosing your first accounting system.

The 12 best accounting software in Malaysia at a glance

Prices exclude SST and change often, so confirm them on the vendor's site before you buy.

How we picked them

We started from the software Malaysian accountants tell us their clients use. Then we checked three things on each vendor's Malaysian site: what the cheapest usable plan costs, whether submission to LHDN's MyInvois is built in or an add-on, and who the product is built for.

Two tools from the previous version of this list are gone. We dropped Tally because we couldn't confirm Malaysian e-invoicing support, and SAP Business One because it's an ERP for mid-sized groups rather than SME accounting software. If you've outgrown SME software, SAP Business One handles MyInvois through partner add-ons. Two names have also changed: Sage sold its Malaysian business, UBS included, to The Access Group in 2021, and MYOB's Malaysian arm has traded as ABSS since 2018.

The 12, one by one

1. SQL Account: best for trading businesses that want local depth

SQL Account is one of the two names you'll hear most in Malaysian accounting offices. It covers accounting, stock, billing and SST in one package, and its e-invoice module submits straight to MyInvois. You can run it on a desktop licence or as SQL Cloud.

• Price: SQL Cloud from RM79 a month, plus RM60 for each extra user. Desktop licences start at RM1,499 one-off through the MIA member deal, and dealers set other prices.
• e-Invoicing: built in.
• Watch for: extra cloud users cost more, and desktop licences are sold through dealers.

2. AutoCount: best all-rounder for SMEs that want cloud or desktop

AutoCount is the other name that comes up in almost every Malaysian practice. It sells a desktop suite and AutoCount Cloud Accounting, and every cloud plan includes MyInvois submission at no extra cost. It suits small teams that want a local product with room to grow.

• Price: AutoCount Cloud from RM70 a month for one user, with a discount on yearly plans. Desktop sets are sold as one-off licences.
• e-Invoicing: built into all cloud plans.
• Watch for: each cloud plan covers one to three users, so bigger teams pay for more seats.

3. Bukku: best for micro-businesses and startups

Bukku is a Malaysian cloud product built around LHDN's rules. It has a free plan, paid plans priced by your annual turnover for businesses up to RM20 million, unlimited users, and MyInvois e-invoicing on every tier.

• Price: free Launch plan. Paid plans from RM35 a month or RM350 a year, plus SST.
• e-Invoicing: built into every plan.
• Watch for: the free Launch plan covers invoicing only, without bills, reports or bank feeds, and Bukku recommends it for companies under six months old.

4. Xero: best for businesses that want a large app marketplace

Xero is a global cloud ledger with one of the largest app marketplaces, so it's the easy choice if you want to plug in payroll, inventory or data-entry tools. In Malaysia it bills in US dollars, lists MyInvois e-invoicing on its plans, and is an MDEC-accredited Peppol service provider.

• Price: from US$7 a month on Lite, which is capped at five invoices a month. Starter is US$29 a month for up to 20 invoices.
• e-Invoicing: built in. Xero's pricing and e-invoicing pages differ on whether Lite includes it, so confirm before you pick Lite.
• Watch for: US-dollar billing and the invoice caps on Lite and Starter.

5. QuickBooks Online: best for businesses already on QuickBooks elsewhere

QuickBooks Online now includes unlimited MyInvois e-invoicing on every Malaysian plan, delivered through Sovos. It's a sensible pick if your business, or your accountant, already runs QuickBooks in another country.

• Price: QuickBooks shows Malaysian prices live on its pricing page, so check there for today's offer.
• e-Invoicing: unlimited on all plans.
• Watch for: plans cap users at one, three, five or 25.

6. N3 AI Accounting (formerly QNE): best for SMEs that want a built-in AI assistant

QNE's cloud product now sells as N3 AI Accounting. It's Malaysian-built, includes MyInvois e-invoicing on all plans, and puts an AI assistant inside the ledger. The entry plan comes with two users plus one login for your accountant.

• Price: Prime from RM62 a month billed yearly, or RM80 month to month. SST forms start on the Essential plan at RM100 a month.
• e-Invoicing: built into all plans.
• Watch for: SST reporting needs a higher tier.

7. ABSS (formerly MYOB): best for businesses that grew up on MYOB

If your bookkeeper still says "MYOB", this is the product they mean. ABSS sells desktop software and a cloud product called Accounting Connect, both with native LHDN e-invoicing.

• Price: Accounting Connect from RM999 a year for one user and 500 e-invoices a month. Desktop from RM2,299 one-off.
• e-Invoicing: built in.
• Watch for: desktop support and upgrades cost extra, from RM1,099 a year.

8. Access UBS (formerly Sage UBS): best for established SMEs on desktop

UBS has sat on Malaysian office PCs for decades, and it now sells as Access UBS. It checks e-invoices against LHDN's rules, then submits them through Evo Lite, Access's hosted connection to LHDN.

• Price: not published, so ask Access or a UBS reseller for a quote.
• e-Invoicing: built in, submitted through Evo Lite.
• Watch for: the core product is desktop, and e-invoice submission runs through the separate Evo Lite service.

9. Financio: best for micro-businesses on a tight budget

Financio is a low-cost Malaysian cloud product with AI receipt scanning. Its Essentials plan suits the smallest businesses, but it caps invoices and e-invoices, so check the limits against your volume.

• Price: Essentials from RM50 a month or RM550 a year per company. Premier is RM85 a month.
• e-Invoicing: built in. Essentials includes 25 LHDN e-invoices and Premier includes 5,000.
• Watch for: Essentials is single-currency and limits you to 20 invoices a month.

10. Biztory: best for owners who run the books from their phone

Biztory is a Malaysian cloud product with a mobile app and low yearly pricing for small teams. Every plan includes MyInvois e-invoicing.

• Price: Plus from RM690 a year for two users. SST features start on Growth at RM1,290 a year.
• e-Invoicing: built into all plans.
• Watch for: you'll need to upgrade for SST or more users.

11. Million: best for trading businesses that need stock control

Million puts accounting and inventory in one product, on desktop or in the cloud. It suits trading businesses that want stock and books in the same place.

• Price: Million Cloud from RM70 a month or RM700 a year for two users. Desktop pricing isn't published.
• e-Invoicing: Million advertises an e-invoice function but doesn't publish how it submits to MyInvois, so confirm that with the vendor.
• Watch for: setup, training and support cost extra.

12. Zoho Books: best for businesses already on Zoho

Zoho Books is well designed, low-cost and part of a large suite of business apps. In Malaysia it relies on a paid third-party extension for MyInvois submission.

• Price: free plan available. Paid plans are priced in US dollars and vary by region.
• e-Invoicing: through a paid extension in the Zoho Marketplace.
• Watch for: the extra cost and setup for e-invoicing.

e-Invoicing in Malaysia: where the rules stand in September 2026

LHDN phased e-invoicing in by annual turnover. Its e-Invoice Guideline (version 4.8, 30 August 2026) and its general FAQ (updated 4 September 2026) set out the dates below.

• The RM3 million exemption has limits. It doesn't apply if a non-individual shareholder, holding company, related company or joint venture has turnover of RM3 million or more.
• Exempt businesses can stop. If you're under RM3 million and already e-invoicing, you can stop without applying to LHDN, or keep going by choice.
• Consolidated e-invoices are allowed for most transactions when a buyer doesn't ask for an e-invoice, as long as you submit them within seven calendar days after month end. LHDN's Specific Guideline lists the activities that can't be consolidated.
• Penalties are per offence. Failing to issue an e-invoice when you must carries a fine of RM200 to RM20,000, up to six months in jail, or both.

What e-invoicing doesn't change: the paper you still receive

Here's the part most software guides skip. e-Invoicing changes what you send, but not everything you receive. With the exemption at RM3 million, many of the small suppliers a business buys from, the hardware shop, the caterer, the freelance designer, don't have to issue e-invoices at all. Their bills will keep arriving as PDFs, WhatsApp photos and handwritten receipts, in Malay, Chinese and English.

Add bank statements and overseas supplier invoices, and someone still has to read every document and key it into the ledger. LHDN says taxpayers have submitted more than 1.84 billion e-invoices since August 2024, and yet data entry hasn't gone away for the firms we work with.

Where tofu fits: the data-entry layer on top of your ledger

tofu is AI bookkeeping software for accounting firms and the businesses they serve. It reads invoices, receipts and bank statements, codes every line the way your team would, and posts the entries into your ledger for review. It doesn't replace SQL, AutoCount, Bukku or Xero. It fills them.

It learns your coding from the ledger itself. Connect a client's books and tofu reads past transactions to learn which supplier goes to which account and tax code, then applies the same rules to new documents. Anything it isn't sure about gets flagged, so your team checks instead of typing. Documents can arrive by email, WhatsApp, Google Drive, SharePoint or upload, in Bahasa Malaysia, Chinese, English or any of 200+ languages, handwriting included.

Malaysian firms using tofu report results like these:

• Phoenix Malaysia grew from 70 to 140 clients with only 60% more headcount, and saves more than half its data-entry time on well-trained client entities.
• Klozer cut bookkeeping from four hours to one per client each month, about 90 hours back across 30 clients.
• GBS Malaysia (Cheng & Co) took bill entry from four or five hours per client to under one.
• Arass Consultants processes a bank statement in two minutes instead of 30. (More on Malaysian bank statements.)
• MFD Advisory now closes clients' monthly books by the 10th instead of the 15th.

"It saves our team more than 50% of our bookkeeping time. Definitely worth the investment. Once you get tofu trained, you don't have to worry for the rest."

Yeong Pin Mei, Accounting Manager, Phoenix Malaysia

tofu won Practice App of the Year (Asia) at the Xero Global App Awards 2026, and it's listed as a Supporting Technology Provider on the MIA Digital Tech Award page. It's ISO 27001 certified and compliant with PDPA and GDPR.

Pricing is per extraction, meaning one bill, invoice or receipt, or one bank statement page. Every plan includes unlimited users and clients. Pro covers 800 extractions a month for US$79 a month, or US$72 a month on a yearly plan. Start a free trial with your own documents, or see pricing.

How to choose the right accounting software for your business

• Ask your accountant first. Most Malaysian firms work across several ledgers, but they'll be fastest in the one they use every day.
• Check how e-invoicing works. Built-in MyInvois submission beats a paid add-on, even if you're exempt today, because turnover growth or your group structure can bring you back into scope.
• Count your users. Per-user plans get expensive as a team grows. Bukku's paid plans include unlimited users; SQL Cloud and AutoCount Cloud charge by the seat.
• Pick cloud or desktop. Desktop licences are a one-off cost plus yearly support. Cloud plans are a monthly cost, but your accountant can log in from anywhere.
• Look at what you receive, not only what you send. If suppliers send Chinese or Malay invoices, handwritten bills or long bank statements, plan how they'll reach the ledger.
• Check local bank connections. Ask each vendor which Malaysian banks it can import from, and in what format.

Frequently asked questions

What is the best accounting software in Malaysia for small businesses?

For most small businesses, AutoCount or SQL Account is the safest local choice, since both handle SST and MyInvois and most Malaysian accountants know them well. Bukku is the cheapest cloud option, with a free plan and e-invoicing on every tier. Pick Xero or QuickBooks Online if you want a large app marketplace.

Is there free accounting software in Malaysia?

Yes. Bukku's Launch plan is free and includes MyInvois e-invoicing, though it covers invoicing only and suits companies under six months old. Zoho Books also has a free plan, but e-invoicing needs a paid third-party extension. Free plans limit features and volume, so check them against your monthly invoice count.

Do I have to e-invoice if my turnover is below RM3 million?

No. From 1 September 2026, businesses with annual turnover or revenue below RM3 million are exempt, unless a non-individual shareholder, holding company, related company or joint venture has turnover of RM3 million or more. If you already issue e-invoices, you can stop without applying to LHDN, or carry on by choice.

Which accounting software supports LHDN MyInvois e-invoicing?

SQL Account, AutoCount (all cloud plans), Bukku, Xero, QuickBooks Online, N3 AI Accounting, ABSS, Access UBS, Financio and Biztory include MyInvois submission. Zoho Books needs a paid extension, and Million advertises an e-invoice function without publishing how it submits.

Is Xero good for businesses in Malaysia?

Xero works well for Malaysian businesses that want a large app ecosystem. It includes MyInvois e-invoicing, and Xero is an MDEC-accredited Peppol service provider. The trade-offs are US-dollar billing and invoice caps on the Lite and Starter plans.

What accounting software do Malaysian accounting firms use?

Most firms work across several ledgers because clients choose their own. SQL Account and AutoCount are the most common in the firms we speak to, with Bukku and Xero growing among cloud clients. Firms then add a data-entry tool on top, which is where tofu fits.

Is tofu accounting software?

No. tofu is AI bookkeeping software that sits on top of your ledger. It reads invoices, receipts and bank statements, codes each line, and publishes the entries into Bukku, Xero, QuickBooks Online or Zoho Books, or exports import files for AutoCount and SQL Account. Your ledger still handles SST, e-invoicing and reporting.

How much does accounting software cost in Malaysia?

Cloud plans on this list run from free (Bukku) to about RM100 a month for SME tiers, and Xero starts at US$7 a month. Desktop licences run from about RM1,499 to RM2,299 one-off, plus yearly support. Prices exclude SST.

Sources

• LHDN, e-Invoice Guideline, version 4.8 (30 August 2026)
• LHDN, e-Invoice General FAQs (updated 4 September 2026)
• The Star, Over 1.1 million businesses to benefit from higher e-invoicing threshold (30 August 2026)
• Malaysian Institute of Accountants, MIA Digital Tech Award and SQL Account member offer
• Vendor pricing pages: SQL Account, AutoCount Cloud, Bukku, Xero Malaysia, QuickBooks Malaysia, N3 AI Accounting, ABSS, Access UBS, Financio, Biztory, Million, Zoho Books
• e-Invoicing pages: Xero Malaysia, QuickBooks Malaysia, ABSS

Prices and e-invoicing details were checked against vendor and LHDN sources in September 2026. Prices exclude SST.