AML Newsletter
August 10, 2021
AML Newsletter, first issue.
Topic:
1. Anti-Foreign Sanction Law
2. Questions from AML Users and Answers
3. Private PEP Private
4. FATF-Virtual Assets (Bitcoins, etc) and VASP (Virtual Assets Service Provider) increased responsibilities in enforcement of AML/CFT.
5. Seminar News on Managing PEP Using PEP Private
If you are interested, please download it from AML Download. Thank you!
Launch AML System
We are going to launch the new AML for CSA system. If you are on our CSA contact list, we will send you an email and ask if you are interested to know more about the system.
If you do, we will send you an information packet which contains the Proposal, Order Form and Training Schedule.
If you haven’t receive the email after a week from now, please contact us to follow up.
Change of Registrar of Companies
We have just changed the name of the Registrar of Companies to Kitty L C Tsui (formerly Ada Chung).
We would like to express our appreciation to Ms. Shirley Yuen of Golden China Consultants Limited, for notifying for our mistake.
Change of Order in App
We are upgrading the iOS and Android’s mobile apps by adding the Invoice with payment information by date to the front page. Also, we are taking out the system message from Notification section to reduce the volume of information.
Moreover, we have moved up the Approval to higher location for easy viewing.
If you have any suggestion please let us know.
Rent vs Purchase
We would like to remind our present and prospective users of CPAnywhere that you have a choice to purchase the software system outright instead of rental. This may fit into capital outlay planning for some companies.
An ERP system needs a lot of customization. Every company is unique to its own. That’s why the cost of setting up the system sometimes is more than the software itself.
If you need to pay a lot for customization, you may as well own the software outright.
Success in Getting Funding
It’s nice to have the 60% funding from TPV or the $100,000 grant on Distant Business Program. Many of our new CSA and CPAnywhere users have applied for those funding with success. Initially, it takes about 6 months to a year to get the funding.
However, we kind of know the problem. It is because the initial intent of these government funding are for works to be performed by local firms with some form of customization. CSA needs to be customized in the set up of minutes and resolutions, letters and invoices.
CPAnywhere needs to set up the chart of accounts, transfer of old data or clients information from CSA or other systems, invoice template, customized reports, work scheduling, leave policies and accrual.
This kind of customization is what the government is looking for. Also, the previous approvals of CSA and CPAnywhere in their record actually help with the recent applications.
Pending changes
We are planning to greatly increase the usability of CPAnywhere in the following areas: establishing a channel with customer for invoicing, status inquiry and payment, all on the Internet. Also, establishing a group chat among staff working on a job.
Notification alert on CPAnywhere mobile app.
Web browser based mobile app for ease of use.
We are transferring our experience in the development of Privatus to CPAnywhere. Also, we are experimenting the electronic payment feature. Please be patient.
If you are also using CSA, you will experience a new way of doing things in Customer Support service through Privatus. If you like Privatus, you will appreciate the new CPAnywhere.
Please do give us your comment and suggestion. Your needs are our motivation to innovate.
Thank you for being with us for a long time.
Survey: 5 most popular functions of CPAnywhere
Recently, we had conducted a survey among our CPAnywhere users on their most used functions. The results are presented here:
1. Time sheet by date
2. Job assignment
3. Leave application
4. Invoice maintenance
5. Correspondence
Home Office Option
The recent coronavirus has caused fear among citizens to avoid any contact. That include the office contacts among co-workers as well as meetings with clients.
We encourage you to use CPAnywhere, the web based practice management system for your remote operation with your staff as well as between you and your client’s communications.