Preheat your oven to 375°. Place parchment paper on a cookie sheet.
Mix the flour, baking powder, and salt together. Set aside.
In a separate bowl cream together the butter and sugar.
Add the egg, vanilla, and almond extract and mix well.
Slowly add the dry ingredients to the wet ingredients, while mixing, and mix until well combined.
Roll the dough into 1 ½ inch diameter cookie balls. Poke an imprint into the center with your thumb, and insert the cherry. Wrap the dough around the cherry, then pinch off the opening to seal.
Place the cookies on the prepared cookie sheet, spacing them at least 2 inches apart.
Cook for 8-10 minutes. Remove and let cool completely.
For the chocolate frosting, place the butter and chocolate chips in a microwave safe bowl and microwave for about 20 seconds, mix well.