Great news for the parking industry in Malaysia!
TimeTec Parking has launched an e-invoicing compliance accounting system, TimeTec i-Account for Parking. This system is specifically tailored to help parking operators seamlessly manage multiple parking sites, and integrated with the TimeTec Parking Management System (PMS), eliminating the tedious and error-prone manual processes associated with transferring data from front-end parking operations to back-end accounting systems.
TimeTec i-Account for Parking is a cloud-based solution that enables parking operators to quickly set up and streamline their operations. Together with PMS, it provides real-time data and automates various time-consuming tasks, making parking management more efficient.
With the Malaysian government’s mandatory implementation of e-invoicing across all businesses, having an integrated parking and accounting system has become essential. Although TimeTec PMS is perfectly designed for issuing individual invoices to users upon request and submitting consolidated invoices to LHDN’s MyInvois Portal—whether for casual parking, season parking, valet parking, and more; the ability of parking operators’ existing accounting systems to manage non-frontend parking-related business activities (such as self-billed purchases) remains uncertain.
By integrating TimeTec i-Account for Parking, parking operators can be assured that these challenges will not only be resolved, but the errors and discrepancies between parking operations and financial data will also be addressed effortlessly by direct data transfer. This is especially important in today’s cashless parking trend, which adds complexity to payment processes.
TimeTec i-Account for Parking is not a new solution on the market; it is an extension of TimeTec i-Account, originally designed for property management. Property managers can use this system to create batch invoices, automate payment tracking and reminders, incorporate utility billings for each parcel unit, and integrate with our property management apps, i-Neighbour (for residential buildings) and i-Tower (for commercial buildings).
Besides parking operators, property management companies that also manage their own car parks, TimeTec i-Account is the perfect all-in-one accounting system to handle both business activities.
Call us today to learn more!
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