Software · Malaysia
Financio (by ABSS)
Cloud accounting and payroll for Malaysian SMEs from ABSS
Market position
Financio is the cloud accounting and payroll product of Asian Business Software Solutions (ABSS), the former MYOB South Asia, which rebranded to ABSS in 2018 and launched Financio in Malaysia and Singapore in 2017. The Star reported in June 2022 that Censof Holdings had raised its stake in ABSS to 97%. ABSS also sells the desktop ABSS Accounting and Premier range and says more than 400,000 SMEs use its software.
Malaysia-specific note
Financio says its users can send, receive and track e-invoices with LHDN, and its e-invoice guide covers consolidated and self-billed e-invoices and credit or debit notes. The Essentials plan includes 25 LHDN e-invoices and Premier 5,000, so check the quota against your invoice volume.
Pros
- + Published prices from RM50 per month
- + LHDN e-invoices included in both plans
- + Payroll product from the same vendor
- + 30-day free trial of the Premier plan
Cons
- − Essentials plan includes only 25 LHDN e-invoices
- − No permanently free plan
- − SST treatment of the listed prices not stated
- − No construction job-costing features found on its pages
Typical Malaysia pricing
Accounting Essentials RM50/month or RM550/year; Accounting Premier RM85/month or RM935/year (prices effective 1 December 2024). Payroll Essentials RM75/month (up to 30 employees), Payroll Premier RM135/month (up to 200 employees). SST treatment not stated. 30-day free trial; no free plan.
Why this matters for Malaysia trades
Under Act 520, every local and foreign contractor must register with CIDB (the Construction Industry Development Board), which grades contractors G1 to G7 with works limits from RM200,000 (G1) to no limit (G7), issues the SPKK certificate for government works and registers construction workers, site supervisors and project managers through the Green Card; working unregistered risks a fine of RM10,000 to RM100,000. LHDN/IRBM runs income tax, employers’ monthly PCB/MTD deductions and the MyInvois e-invoicing system. SSM (the Companies Commission of Malaysia) registers businesses, companies and LLPs; under Act 138 only a Professional Engineer or engineering consultancy practice registered with the Board of Engineers Malaysia (BEM) may submit engineering plans to an authority; and employers must register with and pay monthly contributions to EPF/KWSP and to SOCSO/PERKESO (including EIS), with HRD Corp registration and levy required at 10 or more employees in covered industries.
Malaysian construction and trades software selection is shaped by MyInvois, the national e-invoicing system run by LHDN/IRBM (the Inland Revenue Board), rolled out in phases by turnover from August 2024. Businesses with turnover up to RM5 million entered on 1 January 2026, but under LHDN’s e-Invoice Guideline of 30 August 2026 those below RM3 million are exempt unless a shareholder company, holding company, related company or joint venture has turnover of RM3 million or more, and an interim relaxation for the up-to-RM5 million phase runs to 31 December 2027, allowing consolidated e-invoices for taxpayers who meet its conditions. AutoCount, SQL Account, Bukku and other local accounting and ERP vendors listed here say they submit e-invoices to MyInvois. Add the Ringgit (MYR), SST, CIDB contractor grading from G1 to G7, and monthly EPF, SOCSO, EIS and PCB payroll deductions, with LHDN publishing a list of payroll software whose PCB calculation meets its specification.
Frequently asked
Is Financio (by ABSS) a good fit for Malaysia trades?
Financio is the cloud accounting and payroll product of Asian Business Software Solutions (ABSS), the former MYOB South Asia, which rebranded to ABSS in 2018 and launched Financio in Malaysia and Singapore in 2017. The Star reported in June 2022 that Censof Holdings had raised its stake in ABSS to 97%. ABSS also sells the desktop ABSS Accounting and Premier range and says more than 400,000 SMEs use its software. Financio says its users can send, receive and track e-invoices with LHDN, and its e-invoice guide covers consolidated and self-billed e-invoices and credit or debit notes. The Essentials plan includes 25 LHDN e-invoices and Premier 5,000, so check the quota against your invoice volume.
What does Financio (by ABSS) cost in Malaysia?
Accounting Essentials RM50/month or RM550/year; Accounting Premier RM85/month or RM935/year (prices effective 1 December 2024). Payroll Essentials RM75/month (up to 30 employees), Payroll Premier RM135/month (up to 200 employees). SST treatment not stated. 30-day free trial; no free plan. Pricing and availability can change by region; confirm current Malaysia pricing on the vendor's site before committing.
Does Financio (by ABSS) publish its prices?
Yes. Financio (by ABSS) is Tier S in our Malaysia directory, which means our check found its prices published on its own website (see the typical pricing above). The tier is not a quality ranking, so compare it against the alternatives for your trade and region.