To fullfil and realize KDYMM His Majesty's 61st Birthday Titah, iKhlas was created as a catalyst for change, working with the small and medium enterprises to help achieve a greater level of standards in accounting and business management practices.
It is an online accounting system. The vision of iKhlas is to help the small and medium enterprises formalize their accounts, provide tools to assist with business fundamentals and create platforms to harness business potentials. The system is easy to use with a simple user interface. It is accessible from the internet at any time.
iKhlas uses common everyday business language with no accounting jargons. The system is integrated with excellent reports that conforms to mandatory requirements. It caters for every industries!
iKhlas was launched in August 2009 with the support of the Ministry of Industry and Primary Resources.
iKhlas is offered as a subscription service. To enroll and access the system, resgistration is required and the rate are based on a monthly fee.
There is no need to invest in server hardware, software licenses and related support services, All that is required is a desktop PC, laptop or notebook and access to the internet. Registered users sign on with the identification and password provided to the iKhlas website.
Presently available with the core accounting modules of General ledger, Account payable, Account receivables. Daily transaction are managed under common business activities for customers, quotes, sales, suppliers, purchases bank and journal. All entries are directly posted to the journal accounts without the need for batch processes.
The system comes standard with forty reports for journals, income and expenditure. There are features to build additional reports and extract data for import in spreadsheets and databases, as and when required.
iKhlas has the support from the accounting community to promote success. To assist delivery of accounting skill sets. iKhlas works closely with the BICPA-FTMS Accounting Academy to facilitate practical workshops. SMEs that requires formal accounting guide can subscribe packages that includes the workshops.
For any systems that supports financial conformation, security is of the highest importance. iKhlas is managed with strong security controls that conforms to international standards. The encryption technologies used are adopted by major internet banking facilities. The services are replicated across several sites to ensure redundancy. Integrity of data is ensured with backups facilitated locally and across multiple sites.
Furthermore, iKhlas is managed by BAG Networks, a joint venture between Khazanah Satu Sdn Bhd, a wholly owned subsidiary under the Ministry of Finance and Accenture, a multinational consulting conglomerate. Whilst the Government of Brunei's objective is to create jobs and upgrade ICT skills, Accenture's is to leverage on the nation's standing to extend operations locally and internationally.