thewealthworks Customer Support Portal

New Features in WealthWorks+ 4.8.0

1. Email login and Additional Security Verification
2. Trial Balance exchange rates and currency analysis
3. Change approval for directors and advisors
4. Improved Beneficial Ownership and Controllers Register
5. Improved Mortgages and Charges Register
6. Additional Statutory Forms for Hong Kong Companies Registry
7. Updated administration and contact field
8. Company Shares - Merge option and Certificate Action
9. Compliance items - Details / Comments field for each item

Email login and Additional Security Verification

Email login

Users can now use their email address to login into WealthWorks+ as an alternative to their user initials.  Each users email address can be assigned from their contact record or via the users section of the System Administration menu option.  The email address should be flagged as the default email address for the user within the contact record.  

Additional Security Verification

Users can now be required to use Two-Factor Authentication (2FA) as a method of verifying a user securely in addition to their account credentials and password.   This provides an additional layer of security for your business access to WealthWorks+.   If enabled, users will require an Authenticator application installed on a smartphone or device to generate a code that gives access to the system.   

Authenticator Apps supported: -

To enable additional security verification for a user, check the option on the security tab on the user account details within System Administration.  The user at their next login will need to use the chosen app on the device or smartphone to scan a QR code displayed in WW+.  The app will then generate a 6 digit code to allow access to WealthWorks+ whenever login is required.  If the user loses their device or needs the authentication reset, a rest checkbox is also displayed on the user accounts details with System Administration.

Trial Balance exchange rates and currency analysis

From the Finances tab of the entity details, the Trial Balance for a selected sub fund can be accessed.  The options button now includes the ability to see the exchange rates in use for the selected period. 

For each nominal displayed in a Trial Balance, a new Currency Analysis action is displayed to show the calculation from currency totals, with any unrealised exchange differences to the final Foreign Exchange balance displayed in the TB.  The Unrealised gain or loss is only calculated on nominal accounts with the FX Rule of 'closing'.

Change Approval

An optional feature is available in this release to allow changes to the Register of Directors and Register of Advisors and Professional Officers to be approved or rejected.  Each change to the register is still recorded, however the status of approved or rejected is displayed; the records themselves are not changed by the action of approval or rejection.

To enable the feature, check the change approval option in the entity administration section of the System Administration page.  All existing records in Register of Directors and Register of Advisors and Professional Officers will be automatically recorded as approved. 

All additions, edits and deletions to the Register of Directors and Register of Advisors and Professional Officers will display the status of Pending Approval by all users.  If a user has been assigned the potential role of 'change approver', they will via a new menu option 'Change Approval' listed in the Entities menu category be able to approve or reject changes. The record can also be reviewed from the record actions.  The register will display the record approved or rejected.  Rejected records can then be edited for re-approval.

Improved Beneficial Ownership and Controllers Register

Additional fields have been added to allow information to be maintained for beneficial ownership registers in other jurisdictions.  The fields now displayed are: -

• Owner or Controller
• Owner or Controller Effective Date
• Date Notice Sent 
• Date Confirmation Received 
• Date included in Register
• Owner or Controller Ceased Date 
• Date removed from Register 
• Percentage Interest
• Percentage Vote
• Ownership Register Type
• Ownership Register Exemption Reason
• Nature of Interest
• Reporting Status

Improved Mortgages and Charges Register

Additional fields have been added to allow information to be maintained for the authorities in other jurisdictions.  

• Date of Registration with Authorities
• Date of Discharge lodged with Authorities

Statutory Company Forms - Hong Kong

Additional Statutory Forms for Hong Kong Companies Registry are now available and can be populated with data for Hong Kong Local companies and registered non-Hong Kong companies.

Updated administration and contact field

Within the internet contact details portlet a number of new fields have been added to maintain accounts for: -

• Skype
• Facebook
• Instagram
• LinkedIn
• Twitter
• WeChat
• WhatsApp

For UK entities, the following fields are now displayed: -

• UK Trust Register Maintained By
• Trust Register Last Updated

Company Shares - New 'Merge' feature and Certificate Action column

A new merge option has been added to merge certificates within the same issue, into a single certificate.  The feature could also be used for shareholders that have simply amassed many individual certificates over time, to allow them to be amalgamated onto a single certificate for the remaining balance of shares held.  It can also be used merge multiple certificates to then redeem, forfeit or transfer a single number of units using the existing posting options.  The merge option will appear within the members ledger and allows the user to select which certificates to merge and the date for the new certificate.

A new optional column (Certificate Action) in the members ledger is available to display alongside each certificate to define its origin. The certificate will be either: -

• New - New Certificate issued.
• Balance - Certificate for the balance of shares still held after a partial forfeiture, redemption or transfer.
• Merged - The allotment is as a result of a merged certificate.
• Transfer In - The shares have been transferred in from another member.
• Cancelled - The certificate has been cancelled.

Compliance items - Details / Comments field for each item

A new free text details field has been added for each compliance item applied to a contact or entity.  This can be used to record the item reference or document number such as ID and permit numbers.  For example, storing compliance items for specific Jurisdictional required ID items, will allow you to record the ID numbers alongside the expiry dates and locations of each item.

Other Changes

[TN-3133] - Unit holders with valid unit class records are now included on the organisational chart if the unit holder is current (no valid ceased date), regardless of their unit holdings. This differs from members with share holders on the organisational chart where the following rules are used to determine if the member is current or not.

• If no share transactions = the member is current
• If transactions exist and balance is greater than zero = the member is current 
• If transactions exist and the balance is zero = the member is no longer current.

[TN-1964] - The Beneficial Owners register is now available for Partnership entities. It also appears in the Register List and Register Search

[TN-2669] - Contact Email address 1, 2 and 3 now appear in the internet portlet without the need to select each email address

[TN-2717] – Excel Export has been enabled on the AEOI Controlling persons and reportable accounts

[TN-2718] – Excel Export has been enabled on the Employees and Employers portlets

[TN-2720] – Excel Export has been enabled on the Entity WIP and Billing tabs

[TN-2721] – Excel Export has been enabled on the Entity Details, Activities and Organiser Activities

[TN-2722] – Excel Export has been enabled on the Entity Details, Document Store and Organiser Store

[TN-3029] - Meeting registers attendee; and ‘alternate to’ optional field has been added

[TN-3034] - Company Secretarial, ‘Last Date reported to authorities Beneficial Ownership Register’ has been added

[TN-3125] – The Contact field ‘Your Ref’ has been added as an optional column to the Entity Listing and Contact Directory

[TN-3133] – The Unit holding and Class has been enabled on the Organisational Charts and Profile Report

[TN-3189] – Additional validation on users email addresses has been added to ensure they are unique

[TN-3190] – The selection of Signatory and Presenter on Hong Kong statutory NAR1 form is now mandatory

[TN-3222] – Unit Trust transactions now have a hierarchical structure to allow certificates to be cancelled 

[TN-3230] – Selecting addresses for contacts and entities has been amended to clearly display where the address being edited is from the central address library

[TN-3269] – The address contact card now displays the default email address.  The default email address can be changed by checking the option next to one contact email address record.

[TN-3270] – The layout of the Members Report has been improved to display transaction types in a single column

Fixes

[TN-2473] – The FATCA & CRS Controlling Person and Joint Controlling Person now display the contact file name instead of the full name

[TN-2789] - System Admin Investments save message has been corrected to prevent an error

[TN-2790] - Bank signatories report now displaying the logo where selected

[TN-2793] - System Admin other settings - unhelpful error message if invalid email address entered

[TN-3137] - NAR1 Section 26 Particulars of Members including Transfers after the Form As At Date has been corrected

[TN-3138] - NAR1 Section 12 Total Number/Amount/Paid incorrect as including Transfer after form date has been corrected

[TN-3140] - AEOI Controlling Persons Report – A blank page that sometimes appeared has been removed

[TN-3142] - Automatic Exchange of Information - Profile Report overlapping labels have been corrected

[TN-3144] - Shares Exports missing Member/Entity name and As At Date in Title - Share Class, Members Ledger, Transaction Ledgers

[TN-3158] - Tasks with multiple entries incorrectly setting generated entries and failing to save

[TN-3169] - Shares Transfer date was displaying incorrectly on the Transfer ledger.  This has now been corrected

[TN-3174] - Company AGM Status dashboard has record count error has been corrected

[TN-3196] - Investment Library Holdings - Current Units restricted to status current

[TN-3232] – Statutory Form NAR1 Presenter, Signatory and Alternate to now use the contact full name

[TN-3245] – The Investment Status column on Investment Library > Details > Holdings was not reporting correct status

[TN-3266] - Nominal Details report results excluded exchange differences when dates selected not period dates

[TN-3338] – The Share Allotment register filter for members was not clearing correctly

[TN-3344] – A problem deleting protector register entries has been corrected

[TN-3353] - Organiser - Activities exports currently viewed page only.   This has been corrected