On 16 May 2020, the Hong Kong government released details of their Distance Business Programme (“D-Biz”), which is designed to help Hong Kong companies adopt IT solutions that can facilitate remote working. D-Biz covers 12 categories of IT solutions and applicants can utilize the funds received to implement up to 3 of the 12 IT solutions outlined. As an expert of online cloud accounting software and cloud HR management systems, FastLane can help your firm implement D-Biz approved projects. In this article, we will provide details on how FastLane can help with your D-Biz projects.
Recognized IT Service Provider
FastLane has been included in the D-Biz Programme’s IT Service Providers Reference List!
Our inclusion into this list certifies FastLane’s ability to act as a recognized IT Service Provider. This means that not only are we permitted to help D-Biz applicants implement the various IT solutions outlined under the D-Biz funding scope, but engaging our assistance will be funded under the scope of D-Biz!
In addition, our place on the IT Service Providers Reference List affirms that FastLane’s technical capabilities and experience in providing these solutions has been acknowledged by the Hong Kong government!
Under the scope of D-Biz, FastLane can help with the following implementation:
1. Cloud Accounting System Implementation
2. Cloud HR Management System Implementation
3. Audit and Monitoring
1. Cloud Accounting System Implementation
The implementation of online / cloud-based financial management systems falls under the scope of D-Biz funding, specifically the adoption of a computerised system to manage the financial related processes of a company. These processes include but are not limited to:
- Invoicing and bill collection, accounting and budget planning, asset and liabilities management, regulatory compliance, reporting; and
- The system can be cloud-based or accessible remotely by staff with appropriate cybersecurity protections
The FastLane Group utilizes Xero, an online cloud accounting software designed with small businesses in mind. As a certified Xero Platinum Partner and Xero’s Hong Kong Accounting Partner of the Year for 2019, we have a unique understanding of how Xero can improve a business.
As a cloud accounting software, Xero gives its users the unique ability to select which features they want for their unique business purposes and the platform can grow alongside a company. FastLane can assist users who are looking to adopt Xero in the following ways:
1. Xero implementation
- Chart of accounts setup
- Setup of multi-currency accounts
- Setup of invoicing templates
- Dashboard and report layouts customization
- Importation of opening balances
- Importation of fixed asset data
- Setup of bank account information
- Bank account integration for direct bank feed functionality
- Integration with payment gateways
- Importation of employee data
- Setup of a company’s expense account
- Activate SmartScans for expenses
- Expense rules and conditions customization
- Hubdoc account setup and integration
- User access level setup
2. Xero training
- Provision of 2 hours of Xero training with unlimited attendees
- Importing bank statements
- Input expenses
- Create sales and purchase invoices
- Inventory management
- Bank reconciliation
- Manual journals
- Report generation
- Expense management
- Free 1 hour email / phone post-training support on Xero setup and accounting questions (within 2 weeks after training)
3. Data migration
- Full reconciliation of bank accounts, owner accounts, income and expenses
4. Provision of a 6 month Xero subscription
2. Cloud HR Management System Implementation
Online / cloud-based human resources management systems also fall under the scope of D-Biz funding, specifically the adoption of a computerised system to manage the human resources related processes of a company. These processes include, but are not limited to:
- Payroll and expense reimbursement, attendance and leave records, training and reporting; and
- The HR management system could be cloud-based or accessible remotely by staff with appropriate cybersecurity protections
FastLane utilizes Talenox, a cloud HR management system that offers a full suite of cloud HR solutions for SMEs. Talenox is designed to help businesses manage their payroll, leave, and other HR related processes and, by being able to integrate with Xero, helps create a one-stop solution for all of a business’s needs.
FastLane can assist applicants who are looking to adopt a cloud HR management system in the following ways:
1. Talenox Implementation
- Employer profile setup
- Employee personal details including identity documents and employment contracts
- Payment details including payment method and bank account details
- MPF trustee and employer details
- Integration with Xero
- Setup leave module and different type of leave policy
2. Training
- Provision of 2 hours of TAlenox training with unlimited attendees
- Employee profile creation
- Payroll processing
- Payslip creation
- Government filing management
- Free 1 hour email / phone post-training support on Talenox setup (within 2 weeks after training)
3. Data Migration
- 12 months of employee salary and leave records
3. Audit and Monitoring
To help ensure that a project’s funds are being solely, and properly applied according to the terms of the funding agreement, an audited statement of income and expenditure detailing the whole project period is required for D-Biz projects that have an approved funding amount that exceeds HKD30,000. The audit of the statement of income and expenditure must be conducted by an independent auditor who possesses a Hong Kong CPA.
As a Hong Kong CPA licensed company, the FastLane Group is qualified to help you adhere to the audit and monitoring requirements outlined under D-Biz.
Conclusion
D-Biz provides a great opportunity for Hong Kong businesses to improve on their existing tools and internal workings as IT solutions make a business more efficient. To better explore how we can assist in your D-Biz application, please contact the FastLane Group for your enquiries or to receive a quote!
