2020-01-14 Hypha Worker Co-op: Finance WG

Time: Tue, Jan 14, 2019 @ 12:00pm
Location: https://jitsi.hypha.coop/hyphacoop
Attending: pc, yj, bl
Cultivator: bl
Notetaker: pc

Agenda

Item	Time (min)
Personal Checkins	5
Task Board Review	25
Announcements	5
Discussions	20
Process Checkout	5

Notes

Personal Checkins

pc: eager to start working and get clients in
bl: opportunities! horizons! butttttt risk without guarantees. possibility != security. parents in greeeeece.
yj: concern of spending more than we have. HATE.JS

Task Board Review

Archive Done tasks
Review HIGH [priority-★★★]
- #156 payroll. done. will discuss
- private#4 transferwise. done. can check off in discussion.
- #154 quickbooks setup. no progress. patcon needs to move it fwd.
- #… bookkeeper. assigned to patcon, as he’s become touchpoint. will update in discussion.
- #134 credit card. no progress. yj: there a block? no.
  - pc: might
Triage new tasks
- #todo create task for expense reimbursement process
missing labels wg:NULL | [priority-NULL]

Discussions

TransferWise retrospective
- credit card has own risks. get money, but might not stay. new liability.
- bl: should only deal with it when have to. more sense for lots of small transactions. may want to look at in future.
- yj: recurring charges work well. warning: but very little recourse when chargeback.
- yj: high fees.
- patcon: don’t feel convinced by critiques. etransfers win in canada over CC. but for domestic recurring (e.g., retainers), could be CAD$4/charge if <$3,000
- bl: no need for CC now. transferwise for current client works. just for future recurring. pc yj
- bl: need to do docs still
- docs
  - blank out account # for handbook
bookkeeper update
- pc: planning to call Rodica to review books
- pc: would like a contract, get into habit with working more formally
- bl: contract or not, I just want to ensure we are in sync with expectations
- pc: cross out items on contract?
  - bl: no, just email reply an sync up expectations and budget
- yj: small businesses I know have bookkeeper update the books each month, now we are doing it ourselves
  - thinking on budget and when to transition that work to bookkeeper…
- pc: once running, are we being more handsoff with services we’re using of hers?
- bl reiterates that not setting budgets and not syncing expectations is a bad way to start business relationships
  - the only thing we can afford now is occasional consultation and monthly review of books
    - yj: maybe quarterly
- #todo:pc reach out to Rodica to clarify expectations and set a first-year plan together after review of books
payroll discussions (skipped, for next week)

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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