e-Invoicing 2024: Reimbursements and Disbursements
e-Invoicing 2024: How to Handle Reimbursements and Disbursements? What is the difference between disbursements and reimbursements in e-Invoicing? Reimbursements refer to out-of-pocket expenses incurred by the payee during the sale of goods or provision of services, which are later reimbursed by the payer (buyer). Common examples include airfare, travel, and accommodation costs. Disbursements are expenses […]
e-Invoicing 2024: Expenses inccured on Behalf of the Employer
e-Invoicing 2024: Expenses incurred on Behalf of the Employer What are the common expenses employees incur on behalf of employers? An individual under a contract of service (i.e. Employment) may incur certain expenses on behalf of the employer. Such expenses include, but not limited to, accommodation, toll, mileage, parking, telecommunication expneses, expenses incurred in a […]
e-Invoicing 2024: Consolidated e-Invoice for Buyers
e-Invoicing: Cosolidated e-Invoice for Buyers What happens if a buyer does not request an e-Invoice? If the buyer does not require an e-Invoice, the supplier will issue a standard receipt following current business practices. These receipts do not need to be submitted to the Inland Revenue Board of Malaysia (IRBM) for validation, as they are […]
