Chill the bowl, electric mixer blades in refrigerator for at least 15 to 20 minutes in advance as we need them really chilled before using to make the frosting. Only take these out just before you make the frosting, so they will be really cold.

Transfer the softened cream cheese and softened butter to the bowl(make sure they are not too warm from being left outside in the room temperature, you just need to keep them outside the refrigerator until they are softened and use it right away to prepare the frosting).

Mix the cream cheese and butter in high speed for about 2 to 3 minutes until they are mixed well and soft peaks are formed.

Add the cocoa powder little by little and whip in high speed for another 1 to 2 minutes.

Add the vanilla essence and also add the powdered sugar one cup at a time, and add more little by little as needed, beat well in high speed for another 1 to 2 minutes.

If you prefer a more spreadable consistency, add the milk to the whipped chocolate cream cheese frosting and beat for another 1 minutes. You can skip this step if you want a stiff frosting for piping on cupcakes or to do the piping on cakes.

Use the chocolate cream cheese frosting immediately to decorate your cakes or cupcakes, as using it to decorate the cakes as soon as it is made will give you the best results. Also if you are not serving the frosted cakes and cupcakes right away, you can keep them refrigerated for best results.