2019-12-03 Hypha Worker Co-op: Finance WG Meeting

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Time: Tue, Dec 03, 2019 @ 4:30pm
Location: https://jitsi.hypha.coop/hyphacoop
Attending: bl, yj, pc
Cultivator: pc
Notetaker: yj

Agenda

• Logistic things (ben)
  • Delegate person for All Hands to give summary
  • Meeting time
• TransferWise business account walkthrough #154 (ben)
• QB invoicing in USD #154 (ben)
• Payroll #156
• Shareholder loans #154
• Bookkeeper meeting #122

Notes

#ask indicates questions for our accountant or bookkeeper

• pc to be All Hands presenter

• backlog grooming

  • #120 low priority
  • added #160 to backlog
  • #121 low priority

• re: meeting time.

  • same time. value yurko’s attention more than ben’s sleep. new hold in calendar for 1h before #todo:patcon

• Transferwise Walkthrough > Ben

  • business not verified
  • Add different accounts
  • Canadian dollar is “special” - more ways to deposit monies
  • #todo discuss invite and earn CAD$75
  • Transfer between currency is cheep
  • Accepting wire transfers is cheap
    • Most banks: $25-70
    • TW: flat rate $5.24 USD for 1,000 or 10,000
  • ben is admin using finance@hypha.coop (FOREVER)
    • can only be changed manually via support chat
  • #todo bl - post email saying they can remove him via support
  • yj: we’ll only be doing this for medium-term. eventually using bank with USD.
  • bl: proposal = 1 admin, 2 viewers.
  • yj: “bookeeper” roll will have to balance the books
  • pc: will we always use transferwise? is this longterm?
    • all +1 on building longterm process around transferwise. bl: 2 years ish at least.
  • pc: Permission levels
    • suggestion - add into the group and use social agreement for not editing
    • bl: would prefer to keep it more restrictive
    • Share l/p with 1 other rest view
    • pc will get access

• #154 USD invoices

  • yj: can’t expect client to always have transferwise
  • #ask bookkeeper do we need to track transferwise movements between currencies in our books?
    • #todo:patcon transfer to #122
  • bl: may need to track USD in our books
  • yj: when I spend CAD credit card in US, it just converts. how is this different?
  • bl: proposal = we should try with accepting USD, and if it’s hard, revise our policy to be CAD only.
  • bl yj: lets do it this way and then see what the book keeper says during the review.

• payroll

  • pc: mostly doing reading and research so far
  • pc: finding recommendations that payroll should be done weekly for hourly work. re: MaRS resource.
  • bl: thats just one opinion. do not wish to re-open.
  • pc: this is finance WG decision to make. we can just decide here.
  • bl: don’t wish to revisit.
  • pc: if no one else convinced by new research, will retract concern.
  • after ben left call, yj spoke about finding more resources recommending biweekly for hourly or irregular work.
  • #ask how complex is it to switch pay periods
    • #todo:patcon transfer to #122

Action Items for Cultivator

• Migrate items with #todo:person to task board
• Publish meeting notes to GitHub
• Publish meeting template for next meeting

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