Optimization requests from Users
We have constantly received so many constructive ideas towards our software from our users!:
1.)
A law firm F. Zimmern has requested the addition of the detailed information of:
who did what, how long, time charged and when as part of the billing item.
This information will be added to the end of the Description automatically in Billing Schedule function.
2.)
A real estate listed company has suggested to change the Journal Entry listing by adding an Outstanding Only sort order and to change the order listing of the General Ledger by Account ID.
In the automatic numbering of journal entry, they also suggested that the system can auto renew by month.
3.)
Fung Yu & Co. CPA has suggested to add a Remark section in Job Assignment so that more information can be presented in Job.
In addition, they have suggested to include Correspondence as part of the Global Search function with in the Customer ID and Customer name search.
We like to express our appreciation to all the CPAnywhere users for their contributions.
Transaction Date vs. Recording Date
This is referring to the timing difference between the transaction date and journal entry recording date in reporting the proper sales and expenses.
Right now, we only have one date, that is the transaction date, on the automatic or manual journal entry system.
We will add another date of choice, namely, Recording Date, in the system. Normally, the two dates are the same.
By adding an extra date, user can have a choice to change the recording date at will to reflect the true nature of the journal entry transaction.
Rental Management
We have modified the system to accommodate rental management functions and added many reports on vacancy list and lease detail reports.
The Executive Portal will display critical information about units for rent and up-to-the-last-second rental pictures to decision makers to follow up.
If any of your clients are looking for a cloud-based system for rental management please contact us for detail.
Misc. Changes
We have been working on the suggestions from Andrew of Sun Hing Group on the various suggestions. Aki, our System Consultant, has agreed to the following:
Dear Andrew,
- Confirmation status will be shown on pro forma invoice
- Updated
- Add Discount field on Billing schedule
- A new Discount field will be added next to Billing Schedule.
- We will install a special COPY button on Billing Schedule to copy the description and amount to the next one in order to save time.
- An independent Pick Up List to be installed for copying from previous billing description.
- Updated
- Add Discount field on Misc. Charge
- A new Discount field will be added next to the Misc. Charge item.
- Updated
- Using post-it function for the attachment on Job assignment confirmation
- An independent pop up screen for Post-it function.
- This will be readied by the end of July.
- Settlement receipt and Receipt report Updated
- Account Analysis Code for invoicing and settlement (NEW Amendment) Updated.
- Outstanding statement report with reminder alert
- This will be readied by the end of July.
- Proforma invoice recap the outstanding amount on previous invoice (NEW Amendment)
- This will be readied by the end of July.
- Add a schedule billing date on the invoice (NEW Amendment)
- This will be readied by the end of July.
- Print Voucher on JE (NEW Amendment)
- This will be readied by the end of May.
- Misc. Charges – Daily Reports
- This will be readied by the end of May.
- Fix the Printing receipt No
- This will be readied by the end of May.
- Balance Sheet & Income Statement don’t show zero amount (NEW Amendment)
- This will be readied by the mid of July.
- Aging Report – Invoice Register Add option for print outstanding only (NEW Amendment)
- This will be readied by the mid of July.
- Petty Cash system (NEW Amendment)
- To be confirm.
- Contract Description – Job Description display on invoice Main page & copy to invoice head description (NEW Amendment)
- This will be readied by the end of July.
- Invoice & Receipt add company address (NEW Amendment)
- Invoice updated & receipt will be readied by the mid of July.
- Contract Description – Job Description display on invoice (NEW Amendment)
- This will be readied by the end of June.
- Print statement add to main menu
- Updated
- Report for the Contract information
- Updated
- Cancel status on Deposit, Settlement, JE,
- This will be readied by the end of July.
Please advise.
Thanks & Regards,
Ho Tan Ki
Technical Support Specialist
A/P System
“Accounts Payable“.
We can always learn something from seminar participants. This time, we have two things:
1. Installing AP module
2. Print voucher or journal entry.
We will quickly implement the AP module that can print out checks, or connect with the bank payment systems.
AP is just the reverse of our Customer system. After completing the AP module, we can quickly install the all-important Cash Flow Projection Report.
The printing of journal entry will be done tomorrow. It is nice to have this reminder to keep us making the system as user friendly as possible.
Executive Summary
We are going to create a page called Executive Summary and a special designation for executives who can access to this special page in web and mobile pages.
This page will list the summaries of what is happening in real time in the enterprises.
We will first create an usual list of summaries. However, we do encourage you to add any kind of information that you may want to know in this Executive Summary page.
Approving proforma invoices
Currently, we have one level of invoice approval in action.
However, one user needs to get the multiple levels of approval for proforma invoice.
Therefore, we have added this feature into Proforma Invoicing. This special feature is incorporated into Invoice Template.
That means you can designate the level of approval for different sets of invoices.
Booking Different Types of Revenues
Thanks to Lawrence Cheung CPA’s observation about the automatic revenue booking under the JE Template.
The current JE Template allows only one entry to the revenue account.
Before:
DR AR-Customer (automatic generated)
CR Revenue (from Journal Entry Template)
The Billing Codes already preset with the designated account for booking purpose.
All we need to do is to change the program and ask the computer to look for that Billing Code account first.
If there is already an account existed, the computer will pick that one up. If not, then use the default revenue account.
After:
DR AR-Customer (automatic generated)
CR Revenue (based on billing code)
By doing so, different sets of revenues will be allocated to the proper chart of accounts.
That will save a lot of time in doing the journal entry adjustment in the future.
Thanks to Lawrence Cheung’s accurate observation!
Programs affected:
1. Journal Entry Template (AR)
2. Billing Code selection
3. Misc. Charges
4. Invoice Register.
Increase Your Cash Flow Using CPAnywhere
Increase Your Cash Flow Using CPAnywhere
| Date | : | 11-April-2014 (Friday) |
| Time | : | 11:00 p.m. to 1:00 pm. |
| Venue | : | Room 408-409, Fortress Tower, 250 Kings Road, North Point, Hong Kong |
| Seats | : | Please call Mr. Aki Ho at 2521-3110 or email to tkho@plsoft.com for seat reservation |
| Speakers | : | Aki Ho, Consultant |
| For | : | Partners and Managers |
We will present to you that you can accomplish the following tasks in just a few minutes, no kidding!
- Real time billing, anytime, anywhere.
- Job billing with payment schedule.
- Quick billing, fast and easy.
- Client advance and deposit management, automatically apply to invoices and payment.
- Disbursement receivable management, never miss to get your money back.
- Trust deposit and payment management, segregation of monies.
- Easy settlement function for application of deposit, over or underpayment.
- Printing payment receipts for invoice settlement, advances and trust deposits.
- Printing client statements.
- Real time accounts receivable enquiry and alert.
- Automatic journal entries and instant TB, Balance Sheet and Income Statements.
The objective in this instant billing cycle is to bill anytime, anywhere so that you can get your payment earlier than usual.
The instant A/R status, invoice and payments display on your mobile phone will further facilitate the collection process.
After all, cash is king. We will walk you through the whole process, from job creation, time recording, disbursement, client deposit, settlement, printing invoices and receipts, examining the trial balance and account receivables for accuracy.
You will find that CPAnywhere is indeed a system that can reduce an extremely complex billing cycle into a user friendly and easy to use system.
Future seminars on CPAnywhere is in planning:
1. Payroll and Leave Management:
Complex payroll calculation on monthly, time based, benefits, deductions, maternity, MPF, late arrival and overtime. We will explore the various types of leave such as sick leave with pay or without pay, compensating time off, maternity leave, jury duty, education and examination leaves, leave balance accrual and different type of leave benefit for different levels as well as multiple layers of approval steps.
2. Management of the IRD and other types of letters and correspondence:
We will introduce to you the concept of better management of all kinds of letters, replies and extension requests from the IRD as well as other agencies. The purpose of it is to remind yourself applying for extension when required and to keep track of the status of each letter that is received from the IRD and other authorities. This system originated from Cheng & Cheng CPA’s complex in house IRD letter management system and we incorporate it to CPAnywhere.
3. Accounting System Walk-through:
We will walk through the whole accounting system from chart of accounts, separate companies, automatic and manual journals, journal entry templates, general journal entries, registers, general ledger, trial balance, balance sheet and income statement presentation. Here, we are introducing many new concepts of journal entry automation and flexible chart of accounts structure. Since many companies would like to retain their own general ledger, we will also present the way to export the system generated accounting transactions to the external accounting systems for convenience. Special attention will be placed on the newly added analysis code and its application.
4. Audit Program Implementation using Job Code Planning:
For CPAs, we live on audit programs. CPAnywhere can help you incorporate your own audit programs into the predetermined job codes so that for each job, all the required procedures are already incorporated into the work codes and distributed to each staff. For example, when you get an audit assignment of a trading company, you need to do the cash, accounts receivable, inventory, accounts payable and so forth. We called these Jobs. For each job there are a number of working procedures that an auditor need to do in order to accomplish the task. We called those Work Codes. You can then assign a staff to do the bank confirmation or inventory and the staff would know through the predefined work codes and charge time accordingly.
If you are interested in the above technical seminars for CPAnywhere, please let us know so that we can reserve a space for you in advance.
These seminars will be small classes since they are technical in nature and problem solving in essence.
We will invite some advanced CPAnywhere users to share with their experience.
13th Month Myth
Many accounting software prompt you to create a so-called 13th Month when your accounting entries can only be entered into one of the 12 months.
So, what is the 13th month?
If a business needs to do a monthly closing and the journal entries relating to the closed period is entered after the closed period, then that entries can be put under the 13th month period.
The other reason is that the 13th month is used exclusively for audit adjustments. We will retain the benefit of having a virtual 13th month period but not the burden of creating one.
The answer is to create a system default Journal Entry Template called AJ as it stands for adjusting journal entries. We will change the balance sheet, income statement and trial balances to reflect the AJ entries by presenting it like a regular audit working paper format.